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Old 05-28-2019, 01:15 PM #1
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Your 3rd gen insurance rates rising?

Just scheduled payments with my insurance company (State Farm) and noticed yet another increase for the 3rd gen. Up about 45% from two payments earlier.

I inquired with my agent and got this response:

Itís so weird, certain vehicles sustain or cause more damage in an accident. The popular 4 Runner is one of them.

We see that trend too where as your DD didnít change in premium. Has nothing to do with your household driving record; rather the rating of that individual vehicle in claim occurrences across the board.


So, you also then?
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Old 05-28-2019, 01:20 PM #2
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Yep, same here. '96 4Runner is the same as my wife's 2016 JK Rubicon. Got basically the same answer.
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Old 05-28-2019, 01:22 PM #3
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Quote:
Originally Posted by Hopeless Diamond View Post
Yep, same here. '96 4Runner is the same as my wife's 2016 JK Rubicon. Got basically the same answer.
Thanks man. Curious, also State Farm?
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Old 05-28-2019, 01:58 PM #4
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That is an insurance companies pat answer and easy way for them to justify an increase with no way of you proving otherwise. If they raised your rates and cited your claim history as the reason, that is very to to prove or disprove. We are all at the mercy of insurance companies to a large degree.

Here's something else to consider: look at the breakdown between comp, collision and liability. I noticed this change a couple years ago.

I think you'll find insurance companies got smart and started shifting the bigger expense to liability as all cars carry that.

5-6 years ago, my older Miata premium was ~$500/year with < $200 to liability and the balance to other areas. Now, the reverse is true. Guess what? Every car now has that higher liability coverage, but not all have a comp/collision, or the higher premium associated with that.

The bottom line is they get the gold mine and we get the shaft. I'd do it the same way if I owned an insurance company.


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Old 05-28-2019, 02:06 PM #5
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Insurance is scamming you. What else is new?
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Old 05-28-2019, 02:11 PM #6
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We just renewed our insurance on the 4runner and it's 95ish bucks for 6 months (Statefarm, liability only). It hasn't changed in the few years that I've had it.

My Camry has gone up a couple times and they basically told me the same BS answer.
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Old 05-28-2019, 02:17 PM #7
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Quote:
Originally Posted by thegipper View Post
We just renewed our insurance on the 4runner and it's 95ish bucks for 6 months (Statefarm, liability only). It hasn't changed in the few years that I've had it.

My Camry has gone up a couple times and they basically told me the same BS answer.
After a few months on full coverage upon ownership, I went liability only too. The trend (6 month coverage periods):

$164 -> $180 -> $238 (due in July)

Quite a big difference, but I'm in the south Bay Area of California. Of note, I have mine on minimal mileage, I think not to exceed 2,500 a year. I do maybe half of that now...
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Old 05-28-2019, 02:22 PM #8
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Safeco here.
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Old 05-28-2019, 02:30 PM #9
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Usually when they start raising the rate especially if itís by 45% I switch insurance companies. Itís kind of a hassle but itís worth it imo.
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Old 05-28-2019, 02:48 PM #10
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Mine is identical. Only change in my insurance is another vehicle....
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Old 05-28-2019, 04:03 PM #11
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I didn't look into the specifics as to why my premiums increased, but I noticed a significant 33% increase this year when my policy renewed. I contacted my insurance rep (they are the middle man between several underwritters), and she was able to find me another provider with equivalent coverage back at my old premium price. I switched both home and auto over to the new company and am now saving about $150 a month after premium increase, about $50 mo pre rate hike.
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Old 05-28-2019, 05:31 PM #12
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I haven't had my 4Runner long enough to see any change, but my 4Runner is about half the premium of my Golf R and about 20% less than my wife's 2014 RDX. My M3's coverage is similar in cost to the 4Runner, but that's a somewhat specialty insurance policy (stated value collector car insurance via Hagerty).

Looking at the price breakdown, liability is actually more on the 4Runner than either the Golf R or RDX, but comprehensive/collision is much less due to the lower value of the 4Runner compared to the vehicles.

So I guess based on that, they feel like 4Runner drivers cause more accidents and/or do more damage to others than drivers of my other vehicles.
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Old 05-28-2019, 06:17 PM #13
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Yes I've noticed the same with Farm Bureau.
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Old 05-28-2019, 06:33 PM #14
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I work in a body shop and work on tons of 5th gen 4runners, but I rarely see a 3rd gen. Maybe a small handful throughout the year. I've been in the industry 12 years and never worked on a 3rd gen until I bought one...
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Old 05-28-2019, 08:28 PM #15
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I have full coverage on my wifes '06 grand prix and my '00 limited and i'm paying $117 a month. I had a $2 increase for my next 6 month renewal..Only reason I have full coverage on mine is because the BB value is more then what I paid for it. Of course nothing can be brought down it only goes up!
Hopefully you get something figured out.
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