Your 3rd gen insurance rates rising?
- Thread starter TonyB66
- Start date
weekendclimber
New member
I'm paying Geico $213/mo for a 2018 Rav4 and 1999 4Runner, full coverage on both, with rental coverage, uninsured/underinsured, and a $100 deductible. I feel like that's a pretty good deal honestly.
lockedlex
Member
Unfortunately, comparisons are only academic. Where you live, who you are (single, married, credit rating, profession, etc), what else you insure and about 10 other variables make it almost impossible to do a comparison with someone else.
Even comparing rates to someone in a different part of the same city isn't the same thing, even more if it's a different state.
That said, some rates WILL have gone down since last year accidents went down. Since insurance is governed by each state, the insurers will have to refund or in some way discount rates to reflect that overall decrease from that time period.
The flip side is that insurance CAN go up (which is silly since cars get older and cost less), but their argument is that it's based on accidents in general from the pool of insured people.
So once accidents go back up (which it has), expect to see a big rate jump.
My rates went down during my most recent renewal because of 2020, but at the next renewal, if accidents are back to normal, I'm going to see it go up and then some.
Even comparing rates to someone in a different part of the same city isn't the same thing, even more if it's a different state.
That said, some rates WILL have gone down since last year accidents went down. Since insurance is governed by each state, the insurers will have to refund or in some way discount rates to reflect that overall decrease from that time period.
The flip side is that insurance CAN go up (which is silly since cars get older and cost less), but their argument is that it's based on accidents in general from the pool of insured people.
So once accidents go back up (which it has), expect to see a big rate jump.
My rates went down during my most recent renewal because of 2020, but at the next renewal, if accidents are back to normal, I'm going to see it go up and then some.
snydmax
New member
When we switched from an 07 yukon xl 4x4 to the 98. Runner, the premium went up. I questioned this as the vehicle is worth about half... response, Toyota parts are more expensive to which I asked, “so you’ll be using genuine Toyota parts in the event of a claim?” The agent laughed
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Sent from my iPhone using Tapatalk
My rate stayed the same even when I moved from smaller state to another bigger state, 29 times the size, population wise. Same no accidents, no tickets, same coverage, almost the same sized truck except now with 4x4. And it stayed at the same rate. Even as our city went through 3 flooding disasters. Only about 3 years ago did it go down. Saving me $200 a year. Who know why rates go up and go down, too many factors at play.
Has any members been successful in asking to repair with OEM part if truck got repaired under a claim? How did you do it? I talked to my agent and says he can't. Or maybe he won't even though I agree to pay a little more.
I even ask what if, to a bodyshop guy. Bodyshop says he has to go what ever the claim says to use. He can't upgrade to oem parts even if I were to pay the difference in parts cost.
Has any members been successful in asking to repair with OEM part if truck got repaired under a claim? How did you do it? I talked to my agent and says he can't. Or maybe he won't even though I agree to pay a little more.
I even ask what if, to a bodyshop guy. Bodyshop says he has to go what ever the claim says to use. He can't upgrade to oem parts even if I were to pay the difference in parts cost.
itskohler
Member
I'm going through a claim right now on my 4runner and they gave a quote to the insurance using all oem parts. He said there's almost no chance of the insurance company accepting it but it's worth a shot.
Something to note about insurance companies and costs...An old friend from high-school is an insurance agent and told me a while back to always shop around when your policy is up. Underwriters are what back insurance companies up and they can change costs frequently. What's more, demographics change as well. What's cheap for you on one company might be more m than another simply because they've had more claims for your demographic.
Something to note about insurance companies and costs...An old friend from high-school is an insurance agent and told me a while back to always shop around when your policy is up. Underwriters are what back insurance companies up and they can change costs frequently. What's more, demographics change as well. What's cheap for you on one company might be more m than another simply because they've had more claims for your demographic.
eddielasvegas
Member
Just a request for anyone posting premiums:
Please post your coverages/deductible/location as it'll help level the field for comparison purposes.
Thank,
Eddie
Please post your coverages/deductible/location as it'll help level the field for comparison purposes.
Thank,
Eddie
fathousecat_
New member
Mine went up as well. I went from NJM to State Farm. An increase of $20/mo.
Boognish_Forever
Member
I’m paying $58 a month for full coverage $500 deductible on my 4runner with State Farm. I was paying $62 with Geico, but I just switched because I got a better bundle deal on my renters and adding a 01 Corolla (just liability) I just recently purchase. With all of that it totals out to $100 a month.
Also I live in Portland, but the street I live on isn’t that busy. And my driving record is not prefect by no means. 34 years old male.
Also I live in Portland, but the street I live on isn’t that busy. And my driving record is not prefect by no means. 34 years old male.
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19963.4lsr5
New member
Full coverage on below is 81 per month with State Farm.
94 Dodge Ram Cummins
2002 Saturn SL
97 4Runner SR5
98 Kawasaki ZX9R Ninja
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94 Dodge Ram Cummins
2002 Saturn SL
97 4Runner SR5
98 Kawasaki ZX9R Ninja
Sent from my iPhone using Tapatalk
Liselelal
New member
Awkward, but my rate is the same or even less, And I find a logical explanation for this. We live in Covid times, do not travel so much; therefore, accidents are fewer. However, it is expected inflation, and the price level did not rise for my insurance company. The good part is that Covid allows me to think of a business idea. I saved some money, but I am afraid to make my business plan. I plan to contact humaninvesting.com to see what my chances are. Do you think this is the best time to open a business, or should I wait for regular times to come?
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From stories I've read on here the insurance company will want to total it because of the age, unless you want to put a bunch of work explaining the nuances of cult status 3rd gen 4runner pricing. You can buy it back from them and do whatever you want to it as a salvage title.
Personally I wouldn't care that much about anything non-mechanical, body work and such. I would want an OE radiator and stuff like that though.
From what I understand when insurance companies cant make a good return from the markets they make it up by jacking the premiums. If interest rates go up premiums should go down, but most people will have other problems if interest rates start going up. But yes in other words it's inflation.
lockedlex
Member
Yep, all true. Like I said it's mostly about comparing yourself with OTHERS, not so much yourself. Your own rates won't change much, just like you said, but comparing it with other people in different states or even diff. parts of the city will make a difference.
Not to mention all those variables I mentioned, which indeed are part of the "too many factors at play", that make comparing with others academic at best. Though do note that some states (like a "no at fault" state will indeed cause your rates to change when coming from an "at fault state", even if you stay the same person).
"Where you live, who you are (single, married, credit rating, profession, etc), what else you insure and about 10 other variables make it almost impossible to do a comparison with someone else.
Even comparing rates to someone [ELSE] in a different part of the same city isn't the same thing, even more if it's a different state."
The biggest issue in 2022? People are driving again, so rates WILL go up. The worst of it is since these trucks are pushing over 20 years old... and some are heavily built up... there's the realization every day that I drive mine, that even with the "agreed value" policy I have... it's going to be an uphill climb to not only replace it, but get what I put into it. (I mean, try finding a rust free, mint condition, etc etc... not easy as these get older).
Insurance companies aren't in the business of giving away money easily. Thankfully, they are governed by your state's insurance commission and that does have a lot of weight and keeps them in check. But if your policy is a bad one, there's nothing you can do.
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lockedlex
Member
Yep, this is kind of where I'll be at. If the car gets stolen, then I'm SOL. If it's gets totaled but he parts are still salvable (SuperCharger, Lift kit, etc), then I could probably transfer it to another Runner (assuming I can find one).
If it's repairable, then I'll just drive it as a salvaged title and I'd be fine with that as long it it doesn't affect safety/reliability.
I had a friend whose 98 Runner w/ RR diff was broken into, the thief cut himself and got blood in a few places. Because of that, the Ins. co totaled it since doing a proper biohazard cleanup would have been too much.
In the end, he got some bleach, wiped down the interior and replaced the broken glass/window and got a check which he used to buy back the car from them. That's not too bad of a situation really. It would have been so much worse if it was in an accident, etc. So that's a good example of where I'd be OK with driving it as a "salvage".
cl4Rk
Member
FWIW, I got a quote from Hagerty for an agreed upon value of $20k for about $58/mo (in Kansas). No mileage restrictions. Only catch is they would want proof of insurance for another vehicle (other than the 4Runner) that would be the official daily driver. YMMV, since insurance prices seem to vary so much regionally and also person to person...
EDIT: Big caveat for members here -- Hagerty says that "Extreme off-road modifications such as brush guards, roll bars, tool boxes and lift kits with large off-road tires will not be accepted."
They determined my build to be "modified", but not "extreme," and said they'd insure me as a "modified classic SUV."
EDIT: Big caveat for members here -- Hagerty says that "Extreme off-road modifications such as brush guards, roll bars, tool boxes and lift kits with large off-road tires will not be accepted."
They determined my build to be "modified", but not "extreme," and said they'd insure me as a "modified classic SUV."
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lockedlex
Member
Couldn't do Hagerty in CA... too many restrictions on use (mileage was not an issue, but use was not going to work for me. Couldn't use it for work/pleasure/school, couldn't drive it on dirt roads, blah blah blah.)
The offered to insure under a regular policy, but then they wouldn't do Agreed Value. Went with another firm, but YMMV.
Also, I have mine covered for 20k which would just barely replace it.
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