Another Spike In Car Insurance (Century: fit in, 2014, bad credit)

[Vannort54]

Originally Posted by dothetwist

Most people want comprehensive and collision, especially if cars are under 5 years old. Are you driving older cars?? C&C on a new car is about 1/2 of a premium (depending on model/make of new car).

If you are finacing your car you have to have full coverage. If you drop the required auto insurance coverages from a financed vehicle it is a violation of your finance contract and may put your loan in jeopardy. Also the lender could place single interest coverage (force placed insurance) on the vehicle and add the premium to the loan. This type of coverage is expensive and does not provide any coverage for you, just the lender.

[dothetwist]

Originally Posted by Vannort54

If you are finacing your car you have to have full coverage. If you drop the required auto insurance coverages from a financed vehicle it is a violation of your finance contract and may put your loan in jeopardy. Also the lender could place single interest coverage (force placed insurance) on the vehicle and add the premium to the loan. This type of coverage is expensive and does not provide any coverage for you, just the lender.

Good to know; I've never financed a car.

[Concert D Major]

The 2013 Accord I have is known for its high safety ratings. Hopefully, what I have is what everyone is calling "full coverage" (whatever that means)?

[KPB]

Originally Posted by Concert D Major

The 2013 Accord I have is known for its high safety ratings. Hopefully, what I have is what everyone is calling "full coverage" (whatever that means)?

Ya, what you have is full coverage. As long as the car is paid off you can get just what's required by law (which is personal injury protection (10,000)and bodily injury protection (10,000).You have higher limits than that, you also have comp and collision all w/ pretty decent limits.
Your deductible may be low too which is good if you need it but your premium will be more than if you have a higher deductible.
Does your license say "safe driver" on it? That's a discount if so.

[Concert D Major]

It does say Safe Driver on it. So I'll have to bring that up when I go insurance shopping this weekend.

[dothetwist]

Here's our six month Progressive policy for our new CRV (clean driving record; age 61). We are retired so do not use the car for commuting.

Summary of Coverages and Rate

Property Damage Liability: $100,000 each accident $140.00
Bodily Injury Liability: $100,000 each person
$300,000 each accident $110.00
Uninsured Motorist: $100,000 each person
$300,000 each accident - Nonstacked $75.00
Personal Injury Protection: Basic
$10,000
Named Insured & Resident Relatives
Wage Loss Excluded
$1,000 deductible $39.00
Medical Payments: No Coverage $0.00
Comprehensive: $500 deductible $21.00
Collision: $500 deductible $76.00
Rental Reimbursement: $30 each day
maximum 30 days $14.00
Roadside Assistance: Selected $3.00

Total rate for this vehicle: $478.00

[Jimrob1]

Originally Posted by Concert D Major

Just got a 6-month renewal policy from Progressive today. With no changes in coverage, it's going from $852 to $942, a $90 increase for 6 months of coverage. And that's with the discount when you pay it all off in one shot, which I've always done. When does it end and will we ever catch a break? Ever??

This is with a CLEAN driving history, never even been stopped or had a ticket before and in my late 30's. The coverages on a 2013 Honda Accord LX Sedan with no outstanding loan are:

Property Damage Liability: $25,000 each accident
Bodily Injury Liability: $25,000 each person $50,000 each accident
Uninsured Motorist: $25,000 each person $50,000 each accident
Personal Injury Protection: $10,000 Named Insured & Resident Relatives $1,000 deductible
Medical Payments: No Coverage
Comprehensive: $500 deductible
Collision: $500 deductible
Rental Reimbursement: $40 each day maximum 30 days
Roadside Assistance: Selected
Custom Parts and/or Equipment value: $0.00
Loan/lease Payoff: No Coverage

So I tried calling Progressive, and they really couldn't give much information. The rep only gave generic answers like it's the increased cost of medical care and car parts. They couldn't even tell me exactly how the dollar amounts are calculated and what factors make rates better or worse (age, type of car, etc.). The only thing the rep could say is that Tampa is known for being expensive and fraud is a problem in Florida. Seems like the companies are continuing to milk the fraud excuse year after year.

The rep said I had an average insurance financial responsibility score (similar to a credit rating, but internal to Progressive and she would not give the actual score). So, how do I tell if my premiums are normal for most people in Tampa with similar data, or if I'm just getting ganked? Why isn't there a more exact way for consumers to get to the bottom of the rationale behind the formulas used to calculate our rates?

Of course they raise it. How do you think Progressive pays Flo? The amount of commercials that company bores us with is ridiculous. She is on right now as I type this. You can't watch TV or go anywhere anymore without seeing Flo. I had Progressive for 1 year 4 years ago. I got a fairly good rate the first policy period, the renewal it went up $100. I dropped them immediately and never again. I do believe policy holders rates are effected by all those commercials. I would love to see a mass exodus of policy holders from Progressive. I think that company needs to rethink the way it does business. Geico is another one. Although I like Geico better than Progressive.

[KPB]

Originally Posted by Concert D Major

It does say Safe Driver on it. So I'll have to bring that up when I go insurance shopping this weekend.

You probably already know this but you get quotes over the phone, just give them your info and they'll call you back w/ quotes.
I had good luck w/ Kilbride Ins. Agency but you may find it cheaper somewhere else. Just gotta call around.

[Pragmaticus]

Originally Posted by Concert D Major

The 2013 Accord I have is known for its high safety ratings. Hopefully, what I have is what everyone is calling "full coverage" (whatever that means)?

Honda's are the most stolen cars or so I read some where. So, your insurance may be higher based on that. Just my crystal ball.

FWIW, you seem to have a high rate, if you have a clean record. I would shop around.

Good luck!

[maggiekate]

Originally Posted by Concert D Major

Just got a 6-month renewal policy from Progressive today. With no changes in coverage, it's going from $852 to $942, a $90 increase for 6 months of coverage. And that's with the discount when you pay it all off in one shot, which I've always done. When does it end and will we ever catch a break? Ever??

This is with a CLEAN driving history, never even been stopped or had a ticket before and in my late 30's. The coverages on a 2013 Honda Accord LX Sedan with no outstanding loan are:

Property Damage Liability: $25,000 each accident
Bodily Injury Liability: $25,000 each person $50,000 each accident
Uninsured Motorist: $25,000 each person $50,000 each accident
Personal Injury Protection: $10,000 Named Insured & Resident Relatives $1,000 deductible
Medical Payments: No Coverage
Comprehensive: $500 deductible
Collision: $500 deductible
Rental Reimbursement: $40 each day maximum 30 days
Roadside Assistance: Selected
Custom Parts and/or Equipment value: $0.00
Loan/lease Payoff: No Coverage

So I tried calling Progressive, and they really couldn't give much information. The rep only gave generic answers like it's the increased cost of medical care and car parts. They couldn't even tell me exactly how the dollar amounts are calculated and what factors make rates better or worse (age, type of car, etc.). The only thing the rep could say is that Tampa is known for being expensive and fraud is a problem in Florida. Seems like the companies are continuing to milk the fraud excuse year after year.

The rep said I had an average insurance financial responsibility score (similar to a credit rating, but internal to Progressive and she would not give the actual score). So, how do I tell if my premiums are normal for most people in Tampa with similar data, or if I'm just getting ganked? Why isn't there a more exact way for consumers to get to the bottom of the rationale behind the formulas used to calculate our rates?

Allstate wanted me to pay 150.00 more after 6 months with them. Liberty Mutual gave me insurance for one year for 1000.00. Also you can order a clue report that should tell you how they are doing there ratings. Liberty Mutual is in Tampa also and changing was easy.