Insurance Costs

Canuck

Canuck

New member
Hello all,

When I purchased my '03 Sport, I was quite suprised by how high the insurance rate was. The agent said that 4runners were in a high bracket because of the higher than average claims against them...mostly do to the fact that they were high on the list for car thieves. The 4th gen. 4runners have smart keys, therefore the '03s and 04s should not be lumped into the same rate as the 3rd gen. and earlier machines...IMO.

I wonder if, once there is some insurance history to the 4th gen. 4runners, that they will adjust our rates downwards accordingly?
 
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I read somewhere the 4Runner was in the top 10 for being one of the highest rate brackets. I agree, they are probably basing on what the 4Runner has traditionally done. When a record is shown it should change accordingly, hopefully for the better.;):
 
Actually, my '02 4runner (3rd gen) has the encoded key too.

BTW, a "smart key" is now for keys that can open and start a car without having to take your keys out of your pocket. This feature is seen in newer luxury cars, including the Lexus LS430 and Mercedes cars. The new Toyota Prius also has it. It is the new trend in motor technology.
 
So Thai,
Does that mean when I turn this one in for an '06, I can have the dealer install a chip behind my ear? :D

I didn't know the '02s had an encoded key. My wife has an 02 Rav4 with a standard key...so I just assumed.

Good....that means that maybe our rates may drop sooner than later.
 
Actually, I wasn't really thinking of the key. The new 4Runner is wider and lower to the ground, less roll over, the crash tests are better.....on the other hand you have a more expensive vehicle with quite a bit more horse power. Overall though, I think the rates will drop.

When I checked the rates when I bought my 2001 4Runner, the Nissan Pathfinder was $47 dollars cheaper per year and the Mitsubishi Montero Sport was $120 more per year than my 4Runner. (The Pathfinder had a 240 horse power engine.)
 
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It doesn't make sence why the Montero was so much more...unless it is a claim rated scale?

I pay ~$2400 (CAD) while my wife pays ~$1600 with her RAV4...both with highest safe driver discount. I can justify that; 4Runner has way more HP and is way more expensive to repair...but... My coworker has a G35 and pays ~$2000. Same price, same HP. I'm guessing my higher premium is a function of historic claims laid against the 4Runners of the past.

My point is if a Vehicle is redesigned and only shares a nameplate with its predessesors, should it be dinged for the past vehicles claim rate? Then again, how do insurers set a base rate for a new vehicle?
 
Not sure how much you guys are payin but I know I'm pretty happy w/ my Ins :)

28 single male.... (ahh shucks... only if I was married it'd be cheaper.... lol as long as she can drive that is! hehe)
no tickets/accidents (on record ofcourse)
Driving for 12yrs w/ same ins company (loyalty points)
Coverage location: Good 'ol Los Angeles... Prob the most expensive place... (..sigh...)

Vehicle:
03 4runner sr5 4x4 v8

Coverage:
Bodyily Injury/Property Damage: 100/300
Uninsured Idiot Protection: 100/300 (Required living here w/ illegal immigrants that don't have insurance... grrrr)
Medical: 5000
No Rental or Tow (Good 'ol AAA)
Deductible: 500

$647 / 6 months

I was expecting to pay alot more but I'm very happy where I stand :)

I'm sure others have a better deal than me though.... But hey, I can't complain :) Better than payin over 1000 / 6 months...
 
Canuck said:
It doesn't make sence why the Montero was so much more...unless it is a claim rated scale?
Click to expand...

It was a Montero Sport not a Montero. In 2001 it was #1 for the highest insurance rating. Since I keep my cars forever, the difference in insurance could make a big difference, of course the Montero Sport having a poor reliability record helped.

My insurance is around $700 a year. We insure the SUV as our third car. I do remember the one of the lowest rates I got was for a Honda mini-van, $114 dollars cheaper, but you would have to drive around in a mini-van.:confused:
 
Good Times said:
$647 / 6 months

I was expecting to pay alot more but I'm very happy where I stand :)

I'm sure others have a better deal than me though.... But hey, I can't complain :) Better than payin over 1000 / 6 months... [/B]
Click to expand...

Here in Boston I pay $2600 anually for my insurance - that's with a $1000 deductable too. I've had one ticket and one accident in the past 5 years. :dammit:
 
The biggest difference I saw from my Explorer rate was the collision insurance. Comprehensive was not much different. My Explorer had a SecriLock key. My 4Runner does not have an anti-theft key/ignition system, although it was an option. So, at least here in the upper midwest, it appears that 4Runner theft is not the reason for the high rates, the high cost of repairs is.

I changed to State Farm, they were the cheapest I found. I'm 28, married, clean record, $500 deductables, and my rate is about $840/year. My other insurer, Center Mutual, wanted about $1500/year. Yikes. I was paying about $830/year on my Explorer, which is maybe $30 higher than average, but having all my insurance in one place was cheaper at that time. My homeowners has gone up about $70/year because I lost the multi-policy discount. State Farm would have cost about $300/year more there, so I kept Center Mutual for that.

That may be confusing, so just look at it as my 2000 4Runner is costing about $80/year total more than my 98 Explorer was, which isn't too bad. But it took a lot of effort to find that rate.

It pays to shop around. It seems like even small variations in your situation and vehicle can make a difference in what insurance company has the best plan for you.

My wife's 01 Civic costs more.
 
Insurance

2000 SR5 4x4 4Runner - full coverage $100 deductibles $752/year

2001 LXE Toyota Sienna - full coverage $100 deductibles $600/year

It is good to be over 25 and married for some things!

:guitar2:

Brian
 
Re: Insurance

waskillywabbit said:
2000 SR5 4x4 4Runner - full coverage $100 deductibles $752/year
Click to expand...

okay that's it... i definitely need to move out of Los Angeles....

I guess it's just another one of those "cost of livings" BS.... sigh...
 
Since were talking about insurance rates, I get a 10% deduction because I have home owners insurance with them. Also, I have $500 deductable and the 4Ruuner is considered a third vehicle. It does pay to shop around, but like most people I have changed companies in years.:confused:
 
2004 4Runner, full coverage, full glass,rental remb. PIP, NYC area = $1200 per year. Travelers insurance has had the best rates that I have found.
 
I've been with Liberty Mutual for 2 years now. I'm going to check out State Farm - I know it's regional, but my rates are insane.
 
I'm paying about 1300/yr for full coverage here in So Cal for my 03 limited. I'm 25, single, no accidents or tickets. I'm with Wawanesa and have no complaints.
 
Married, 32yr male, $499/6 months. Get loyalty points, discount for home/auto. and I live in LA Coverage 100/300/100
 
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rates

When you guys are comparing rates, you have to talk about coverage.. There will be a big difference in rates if say you have the state min. (here in CT) 25/50/25, or 100/300/100 like I have.. Also where you live (town by town even makes a diff. let alone state by state) your age and driving/accident history..
Those variables change the cost ALOT..
 
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