Insurance Costs

[prlundberg]

I don't recall for sure but I believe my coverage is 100/300/100. I know it is well above the state minimums and is what the agent had recommended. Same coverage as my Explorer had and my wife's Civic. I still wonder why the Civic, being a economy car with better safety ratings, is more expensive. Must be the high theft rate, but still...

Again, I'm paying $840/Year with State Farm.

 

[Biff]

I don't recall for sure but I believe my coverage is 100/300/100. I know it is well above the state minimums and is what the agent had recommended. Same coverage as my Explorer had and my wife's Civic. I still wonder why the Civic, being a economy car with better safety ratings, is more expensive. Must be the high theft rate, but still...

Again, I'm paying $840/Year with State Farm.

SWEEEEEEEEEEEET, I wish I lived in North Dakota

 

[prlundberg]

SWEEEEEEEEEEEET, I wish I lived in North Dakota

I don't hear that very often. :

 

[scottp999]

$740 per year, same coverage as goodtimes. 03' limited. Erie Insurance.

 

[Randy]

02 4Runner SR5. $540/year. 100/300/100, $1 Million umbrella with Farm Bureau in Iowa.

 

[diverjeff200]

Hello all,

As an ex-agent I can add a little insight in insurance rating. These days, computers disect the rating structure much more than in the past but the basics are the same.

1. Vehicle type
2. Driving experience
3. Driving record
4. Annual miles driven
5. How vehicle is driven - work, pleasure
6. Credit
7. Where you live

1. Vehicle type - Labor and parts cost make a huge difference in insurance costs. Domestic vehicles traditionally have cost less to insure than imports. In the past, rating symbols lumped most vehicles in one catagory, now data bases can differentiate loss data for each model of vehicle. That is why a Runner Limited can cost more than a SR5.
2. Driving experience - In the past rating ages went to 25 years of age. Most companies go to 75 now. An example, a 35 year old single male with no children would pay more than the same male with full custody of a child. Most companies surcharge drivers with less than 3 years driving experience. (Teenagers or "mature" drivers" over 65)
3. Driving record - Self explanitory
4. Annual miles driven - Not much of a factor anymore. Used to there were two rates; less than or over 7500 miles driven annually. More miles driven, more risk of accident because of more exposure on the road.
5. How vehicle is driven - Driving to work daily 15 miles one way is more risk than driving 5 miles.
6. Credit - Most states allow credit as an indicator of risk. A lot of companies us credit "scoring" in pricing the risk.
7. Where you live - If you live in a densly populated area odds are you will pay more than a rural area because of the increased risk of accident due to the number of cars. Most companies use zip codes for rating.

Of course there are other factors that go into the final rate. I've tried to keep this as short as possible.

Safety & blue skies,

 

[TFJ-4runner]

Bump for updated rates...I'm getting a 4th Gen tomorrow :banana:

 

[Victor_inox]

my 2012 4 runner about half of what my wife`s 2011Venza, go figure.

 

[calikev]

100/300/100 100 ded on comprehensive 250 collision --- towing and rental included and uninsured motorists for $832 year with Geico. No tickets or accidents over 35 yrs old and living in Los Angeles

 

[zstampe]

100/300/100 100 ded on comprehensive 250 collision --- towing and rental included and uninsured motorists for $832 year with Geico. No tickets or accidents over 35 yrs old and living in Los Angeles

27 years old, perfect record, homeowners, my wife's ring is insured for 10k and the 4runner is 107 a month for all the above. 500 deductible