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Old 03-09-2018, 07:03 PM
 
Location: Breckenridge, Colorado
59 posts, read 33,494 times
Reputation: 78

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I moved from New Jersey, which once had the highest insurance rates in the country and was shocked and amazed that my car insurance rates went UP in Colorado. Not good. I have a 2005 Jeep Wrangler and a 2013 Mazda 2. I pay almost $250 for both of them. It was under $200 in New Jersey. I also paid $60/car to register it each year in New Jersey. Here in Colorado I pay over $300 to register my cars. It's not cheap to live here.
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Old 03-09-2018, 08:16 PM
 
319 posts, read 151,052 times
Reputation: 1276
Quote:
Originally Posted by Freak On a Leash View Post
I moved from New Jersey, which once had the highest insurance rates in the country and was shocked and amazed that my car insurance rates went UP in Colorado. Not good. I have a 2005 Jeep Wrangler and a 2013 Mazda 2. I pay almost $250 for both of them. It was under $200 in New Jersey. I also paid $60/car to register it each year in New Jersey. Here in Colorado I pay over $300 to register my cars. It's not cheap to live here.
You are comparing an apple seed or two with an orange seed or two.

Surely the total tax burden of a Colorado resident is less than that of a New Jersey resident.

According to this 2017 study: https://wallethub.com/edu/states-wit...-burden/20494/

New Jersey has the 7th highest state tax burden, at 10.14%.

Colorado comes in 35th, with a state tax burden of 7.97%.

Accordingly, I agree it is not cheap to live in Colorado, but it is even more expensive to live in New Jersey, at least when judged by total (state) tax burden.
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Old 03-26-2018, 12:35 PM
 
Location: Saint John, IN
11,043 posts, read 3,989,022 times
Reputation: 13557
Auto insurance rates are increasing in all states with legal marijuana


https://www.thecannabist.co/2018/02/...lorado/100053/


Home and auto insurance rates in Colorado also increased due to the May 2017 hailstorm that hit the metro area, which caused a record-setting $1.4 billion in damages
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Old 03-26-2018, 07:43 PM
 
Location: Breckenridge, Colorado
59 posts, read 33,494 times
Reputation: 78
Quote:
Originally Posted by townshend View Post
You are comparing an apple seed or two with an orange seed or two.

Surely the total tax burden of a Colorado resident is less than that of a New Jersey resident.

According to this 2017 study: https://wallethub.com/edu/states-wit...-burden/20494/

New Jersey has the 7th highest state tax burden, at 10.14%.

Colorado comes in 35th, with a state tax burden of 7.97%.

Accordingly, I agree it is not cheap to live in Colorado, but it is even more expensive to live in New Jersey, at least when judged by total (state) tax burden.
If you own a home and pay property taxes this is true, New Jersey is horrendous. The highest property taxes in the country. It's awful and it's a problem. One problem among many.

But I never owned a home in NJ or paid those property taxes so this never affected me at all. I didn't leave NJ because of the cost of living there. I left because I wanted a lifestyle change. I left because I hated living in crowded, congested, nasty place with horrible weather. I left because I had to drive hours to hike, camp and ski. So yes, I came to Colorado because it's awesome in so many ways and I don't regret my decision but since you brought it up:

What does affect me is that I pay over $200/year to register my car and in New Jersey it was $53. The state sales tax in NJ is 7%. I pay almost 9% here in Colorado. My car insurance went up by $200/year (which shocked the heck out of me). My rental insurance went up as well. If I were to rent a comparable apartment here in Summit County I'd pay a thousand dollars more than the $1500 I paid for a 2 bedroom townhouse apartment with garage at the Jersey Shore (not a cheap place to live at all!).

Food and gas is more money too, although NJ recently raised it's gas tax by 23 cents/gal (before that it was the cheapest gas in the Northeast and .30 cheaper than here)... so it's not that much cheaper. And I love being able to pump MY OWN GAS!

I don't miss NJ but I do miss it being cheaper for this sort of stuff, especially since I just spent $300 to register my trailer and will be shelling out another $200 next month for my car. It would have cost me less than $200 for both in NJ.

Yes, I'm sure for home and property owners it's better and equals out but if you don't own a home or property it's more expensive.

But I have no plan to ever go back to New Jersey or the east coast, don't miss it and love Colorado so there's more to life than just saving a buck. It was my dream to come here for years and my big regret is that I couldn't do it sooner. While I'm not a native and neither are my kids but I know my grandchildren will be.
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Old 03-30-2018, 09:00 AM
 
Location: The 719
14,551 posts, read 22,415,763 times
Reputation: 13855
Quote:
Originally Posted by CGab View Post
Auto insurance rates are increasing in all states with legal marijuana


https://www.thecannabist.co/2018/02/...lorado/100053/

Quote:
And there’s some evidence that legalized marijuana is having an effect on premiums, Richardson said.

“In every state where recreational marijuana has been legalized, with the exception of Massachusetts, car insurance rates have increased,” he said.
Well that's one toke over the line for me.
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Old 03-30-2018, 02:32 PM
 
319 posts, read 151,052 times
Reputation: 1276
Quote:
Originally Posted by CGab View Post
Auto insurance rates are increasing in all states with legal marijuana


https://www.thecannabist.co/2018/02/...lorado/100053/


Home and auto insurance rates in Colorado also increased due to the May 2017 hailstorm that hit the metro area, which caused a record-setting $1.4 billion in damages
I'm not sure what to make of this, for the following reasons:

1) I live in Texas, and have almost my entire life (moving to CO in June 2018), and insurance rates have always been up, up, and up over the years. It might not go up every year, but the general tend is that just about everything costs more, including insurance.

2) Did the legalization of marijuana directly cause a hike in car insurance premiums? It is much more difficult to establish causation, after casual observation notes a correlation. They are not the same. Can other factors (e.g., hail storms, more consumer claims for a variety of reasons, etc.) be linked to the rising insurance rates? If marijuana is one of these factors, fine, but why is it being singled out for special mention?

So again, I'm not sure what's going on, other than all our wallets are getting thinner each year.
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Old 03-30-2018, 04:20 PM
 
1,260 posts, read 623,659 times
Reputation: 1714
Quote:
Originally Posted by DrDog View Post
The Phoenix area is somewhat unique in its almost complete lack of natural hazards. However, I find it funny that Peoria, AZ is the only place I have ever lived where I needed flood insurance.
In the metro Phoenix area they have a seasonal monsoon every July into early Sept. Flat land developed without much concern of flood plain areas, overflowing washes.
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