Your 3rd gen insurance rates rising?

[TonyB66]

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:

It’s 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 didn’t 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?

 

[Hopeless Diamond]

Yep, same here. '96 4Runner is the same as my wife's 2016 JK Rubicon. Got basically the same answer.

 

[TonyB66]

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?

 

[eddielasvegas]

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.


Eddie

 

[T4R2014]

Insurance is scamming you. What else is new?

 

[thegipper]

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.

 

[TonyB66]

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...

 

[Hopeless Diamond]

Safeco here.

 

[T4topher]

Usually when they start raising the rate especially if it’s by 45% I switch insurance companies. It’s kind of a hassle but it’s worth it imo.

 

[TCMach]

Mine is identical. Only change in my insurance is another vehicle....:doh:

 

[drallan]

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.

 

[rightyouareken]

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.

 

[repo]

Yes I've noticed the same with Farm Bureau.

 

[Mtn. Runner]

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...

 

[Js'00imited4runner]

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.

 

[Dezert4Runner]

My 6 month policy just dropped about $1/ month. It was going up about that much the last few years so it’s odd that it went down. I’ve never had it drop until the new policy effective next month :noidea: Maybe it’s your postal code that plays into it, but a 45% increase is ludicrous!

 

[octanejunkie]

A 2001 is cheaper to insure than a 1999, why? The 2001 is "safer" according to the stats they use; which are essentially "cooked books" that we cannot dispute.

I removed comp and collision from my 4runner and only carry liability and uninsured/underinsured motorist; without those you're screwed if you get hit by a gardner.

I'm with State Farm too, and supposedly enjoy a "multi line discount"

My gf is with Esurance and just totaled her car in a single-car accident (hydroplaned in the rain into the center divider @50 MPH.) She's okay minus a few bruises but got a FULL, high replacement value payout within 7 days of claim. :wow: No haggling, just a direct deposit after a phone call with the settlement amount. She was happily surprised, and so was I.

Maybe it's time to shop insurance companies.

 

[Runrunrunrun]

Geico here, got the same response.

 

[TonyB66]

Thanks for the additional feedback and thoughts.

As with most folks, my insurance company covers are vehicles as well as home. It's often beneficial to do so... I left previous insurance providers for various reasons like this, but this time not it's not easy as our home is now in a designated high fire area; and quotes are quite a bit higher than our current premium, which is seemingly locked-in. I'll make it a point to check again...

 

[LittleCaesar]

I would call around, it doesn’t hurt to ask.

After turning 40 two years ago my premiums on the 3rd gen and Silverado went down. Come to think of it the 4Runner (99) is more expensive than the Silverado (04) to insure.

Insurance is a dirty business......