Auto Insurance

[cpayne5]

My wife (21) and I (24) pay $2700/year. We have Virginia Farm Bureau. They are ok. I have a ticket and an accident on my record (35 months ago). We have 4 vehicles on the policy (2005 4Runner, 2006 Jeep, 2001 Civic, 1993 Integra). I shop around quite a bit, but no other company comes up with anything better. I'm counting on it going down when I turn 25. (But then going back up when I buy a Corvette ).

[TheInspector]

Originally Posted by Hail2theskins

State Farm is terrible, my dad has also been with them since the late 70's and recently (1 year ago may 5th) after a car accident they attempted to revoke his entire umbrella policy, thats right not just the car insurance but THE ENTIRE UMBRELLA POLICY for a family of 5, they are still trying to revoke it as we still receive letters and my dad is constantly bantering with our State Farm agent, like most insurance agencies they are scumbags, they have shown 0 respect for the fact that he has been a loyal customer for near 30 years with minimal incidents before this. boycott state farm

Unfortunately, that is the name of the game. Since the insurance company is a corporation, they must make profits. If they don't make profits, then the stockholders will fire the corporate officers--and the stockholders only care about their return on investment--not about ethics. This is exactly the type of behavior which gives me a terrible feeling about insurance in general.

[TheInspector]

I have Amica for renter's insurance, and I am currently in the process of filing a claim because my apartment was broken into. They seem to be doing a good job, but the process isn't yet complete.

As for auto insurance, I have Direct. They don't seem to be that good, but I think they are the cheapest in my area (I haven't done much research).

After looking at the other poster's rates, I think I must be paying too much. However, I have two cars. One is an 88 chevy pickup with liability only coverage, so it shouldn't affect my rates that much. I also have a high performance car, and I pay $2000 per year with no accidents or tickets.

Is that too high?

[cpayne5]

Originally Posted by TheInspector

I have Amica for renter's insurance, and I am currently in the process of filing a claim because my apartment was broken into. They seem to be doing a good job, but the process isn't yet complete.

As for auto insurance, I have Direct. They don't seem to be that good, but I think they are the cheapest in my area (I haven't done much research).

After looking at the other poster's rates, I think I must be paying too much. However, I have two cars. One is an 88 chevy pickup with liability only coverage, so it shouldn't affect my rates that much. I also have a high performance car, and I pay $2000 per year with no accidents or tickets.

Is that too high?

What kind of car do you have?

[Monkeydad]

Originally Posted by TheInspector

I have Amica for renter's insurance, and I am currently in the process of filing a claim because my apartment was broken into. They seem to be doing a good job, but the process isn't yet complete.

As for auto insurance, I have Direct. They don't seem to be that good, but I think they are the cheapest in my area (I haven't done much research).

After looking at the other poster's rates, I think I must be paying too much. However, I have two cars. One is an 88 chevy pickup with liability only coverage, so it shouldn't affect my rates that much. I also have a high performance car, and I pay $2000 per year with no accidents or tickets.

Is that too high?

When you turn 25, your rate will drop.

Also when you get married.

[TheInspector]

Originally Posted by cpayne5

What kind of car do you have?

03 BMW M3

[cpayne5]

Originally Posted by Buster

When you turn 25, your rate will drop.

Also when you get married.

I put my wife's vehicle on my policy before we got married. After we got married it dropped $1k/ year.

[TheInspector]

Originally Posted by cpayne5

I put my wife's vehicle on my policy before we got married. After we got married it dropped $1k/ year.

Dang. I guess I should get married.

[cpayne5]

Originally Posted by TheInspector

03 BMW M3

$2k a year probably isn't that bad considering you're under 25 and driving an M3.

[TheInspector]

TMC is also under 25, has three tickets and pays half of what I do. That's what caught my eye. However, we live in different markets, so that could change everything...I guess.

[cpayne5]

Originally Posted by TheInspector

TMC is also under 25, has three tickets and pays half of what I do. That's what caught my eye. However, we live in different markets, so that could change everything...I guess.

That truck is probably ~$400 a year extra for you and he has a Mazda 5, which isn't quite an M3 in the insurance company's eyes.

[Monkeydad]

Originally Posted by TheInspector

03 BMW M3

Well THAT explains the high rate!

It's expensive for them to repair it if someone hits you. REALLY expensive.

[TheMalcolmConnection]

Originally Posted by Buster

That sounds expensive. I pay $400 every 6 months for TWO CARS with Allstate. What kind of car do you drive? Is it a "high performance" car?

It's "considered" a sports car. It's a Mazda3. We just got our new bill and my fiancee and I combined pay $639 for her 2001 Altima and my 2004 Mazda3. So I guess that isn't bad.

[TheInspector]

Originally Posted by Buster

Well THAT explains the high rate!

It's expensive for them to repair it if someone hits you. REALLY expensive.

Yep. It won't be long until I sell it.

[firstdown]

Originally Posted by TheInspector

Unfortunately, that is the name of the game. Since the insurance company is a corporation, they must make profits. If they don't make profits, then the stockholders will fire the corporate officers--and the stockholders only care about their return on investment--not about ethics. This is exactly the type of behavior which gives me a terrible feeling about insurance in general.

Statefarm is not a stock company and does not sell shares of stock so they do not have stockholders to answer too.