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Old thread but may be relevant anyway... 19 yrs old perfect record.
1190/6mo 2.0t 1235/6mo 3.8 rspec

Hardly a difference.

I actually expected the 2.0t to be higher because it says "turbo"... and my company's prices make NO sense.
 

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I have GEICO and last year got a quote on a 2012 Genesis Coupe 3.8 Track compared to my current car, a 2009 Honda Accord Coupe EX-L.

To my surprise, the rate for the GC was actually lower than that for the Accord. Not by a lot, but some.

I figured the more "sporty" GC would result in a higher rate, but apparently not. My guess is that Accords might be more popular to steal (given how ubiquitous they are), and maybe that's the biggest difference.
 

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The methods they use to calculate insurance costs will always puzzle me.

My insurance went down from my Jetta TDI to my Audi S4, then went waaaaay down again for my GC.
 

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Old thread but may be relevant anyway... 19 yrs old perfect record.
1190/6mo 2.0t 1235/6mo 3.8 rspec

Hardly a difference.

I actually expected the 2.0t to be higher because it says "turbo"... and my company's prices make NO sense.
What insurance company are you with? Rates in Irvine tend to be lower than in most other places in Orange County.

The methods they use to calculate insurance costs will always puzzle me.

My insurance went down from my Jetta TDI to my Audi S4, then went waaaaay down again for my GC.
Yeah, it's weird... I have an Evo IX, but my rates in literally any other car that the system would allow me to quote (M3, M5, GT-R, 911, etc.) were still lower, though it's started to stabilize with my car being 5-6 years old now. But there's always a reason, especially based on their own statistics on a given car. The Jetta is often times driven by younger adults, who are more likely to get into a car accident, so there are probably a lot of claims involving Jettas that makes your company rate it higher. On the other hand, despite the S4 having gobs more performance capability and a much higher sticker price, they are typically driven by older people (or at least older than that high-risk group) who are far less likely to be involved in a claim, which is really what dictates the rates.
 

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I called for a quote on my insurance when I started looking at the GC, right now Im driving a 07 Scion tC and my rate will be dropping about 20 a month when I trade in for the new GC. (Allstate)
 

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Best thing to do is just call all different insurance companies. Prices for me went from around $142 to $265 between all the companies. Least expensive for me was esurance.
 

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^ Basically. Without promoting myself too much, I work in insurance, and we are directly appointed with a variety of companies, so we get a bunch of rates all at once, as opposed to calling a company and either believing them when they say they have the best rates or calling every company you can think of on your own. Additionally, most people only know of companies they see on TV -- i.e., Geico, State Farm, Allstate, Progressive -- but aren't aware of similarly reputable and financially stable companies that don't advertise as heavily. It's worth a phone call to go through an agency with multiple appointments.
 

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I think insurance rates are higher in Canada, Ontario anyways, because our minimum liability coverage is 1 million dollars. I've seen someone post somewhere in the US that their liability was only $100,000.
Damn! $1 million that is just crazy.

I am expecting my insurance to increase because my daily is a 96 civic and my car for "pleasure" is a 95 nissan 240sx. I only pay about $75 for both cars right now a month.
 

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^ Basically. Without promoting myself too much, I work in insurance, and we are directly appointed with a variety of companies, so we get a bunch of rates all at once, as opposed to calling a company and either believing them when they say they have the best rates or calling every company you can think of on your own. Additionally, most people only know of companies they see on TV -- i.e., Geico, State Farm, Allstate, Progressive -- but aren't aware of similarly reputable and financially stable companies that don't advertise as heavily. It's worth a phone call to go through an agency with multiple appointments.
This +1. I have never worked for an Insurance company, but i have worked with insurance companies (agents and claims adjustors) along with body shops. I can tell you from experience, there are a lot of good insurance companies out there that will give you a lot more coverage for a lower premium. Based on this experience and how many times I saw some of my own customer's claim be denied and get screwed over, I will never get coverage though any of these companies: Allstate (absolute worst), Geico, Essurance (now part of Allstate), StateFarm (agents are scummy and 1 claim they can drop you), SafeCo.

I currently have Progressive and couldn't be happier. IF you want phenomenal coverage, go through Chubb. You pay more, but you don't have to fight them to be covered when something happens.

And yes, more than just marital status, location, age, engine hp, driving record, etc. goes into your insurnace premiums. They also look at your credit score, which a lot of people don't realize.
 

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Damn! $1 million that is just crazy.
It has its benefits though... while requiring to buy more coverage is obviously going to cost more, the risk is spread more evenly throughout the population. One driver's shortcomings can potentially affect the rates of everyone else.

For example, I have an Evo, one of the most expensive cars to insure -- which I know, because I work in the insurance industry. It's far from the fastest car out there, but I've quoted myself with various cars just for kicks, including various BMW M cars and such, and those are still less expensive to insure. Again, a lot of it is because a bunch of people have done stupid things in these cars, resulting in tickets and/or accidents. That makes the car riskier, hence increasing the rates due to the higher frequency of incidents. On the other hand, a Corvette may have much cheaper rates, because overall, it's driven by a different kind of client, one that is generally older and less likely to do stupid things in their car.

It works similarly with coverage. For example, UM/UIM (uninsured/underinsured motorist) exists in the event that you are hit by a driver who either has no insurance coverage at all or not enough insurance coverage to cover injury or damage inflicted upon you, your passengers or your property. It's generally not that expensive to have, but in certain areas, it adds a big chunk to the cost of your insurance. For example, in Florida, UM/UIM coverage can add a lot to the point where a lot of people don't buy it, partially because BI (bodily injury) liability coverage is not required by law there (only property damage and personal injury protection are), plus a ton of people there just drive uninsured. So if everyone were required to carry higher coverage, then UM/UIM coverage would be used far less, which would make the premium of it insignificant since it would rarely be used.

Based on this experience and how many times I saw some of my own customer's claim be denied and get screwed over, I will never get coverage though any of these companies: Allstate (absolute worst), Geico, Essurance (now part of Allstate), StateFarm (agents are scummy and 1 claim they can drop you), SafeCo.
That's odd that you really don't like those companies. I know that a couple of those are generally tough to deal with, but a few of them are actually VERY good. I had Geico for 11 years (and my family was with them for even longer), and they had always taken great care of our claims. We all eventually switched to Safeco (as they had some pretty stellar discounts that went into effect in December 2010 in California) and I've put a lot of people I know with them, several of whom have made claims, and their experiences have been great. I don't work with State Farm, but I've heard that their claims department is pretty good. I suppose every company is hit-or-miss, and every so often you'll get a bad apple.

At the same time, remember that some companies won't pay out if the client didn't buy the coverage, which isn't the companies' fault. For example, I got an option OEM Coverage Endorsement, which ensures that brand new OEM parts are used in the event of a physical damage claim to my vehicle so I don't have to worry about getting stuck with a sub-par part, which is a big deal with Recaro seats, BBS wheels, etc. I think that's a big deal, because it will depend on the claims adjuster. Some will take care of you, others will follow the guidelines to the T and only approve a payout that coincides with the market value of the parts that need to be replaced, which sometimes is below what a new OEM part would cost, so they'd pay out less or get a less expensive aftermarket part. Or sometimes clients who do not purchase coverage for aftermarket equipment (i.e. wheels, upgraded audio system) need to make a claim for those parts, but the insurance company is not obligated to pay out for those when they cost more than the stock parts since they never disclosed them and/or properly insured them. For example, I had a client with an Acura that he claimed he had $500 in aftermarket equipment in (which he said was his amp and subwoofer), but his car had gotten broken into, and all of a sudden he was claiming that he had a $2,000 DVD head unit in it that was stolen in addition to the amp and subs. Obviously the company isn't going to be eager to pay out on that when he had five times the value of audio equipment that he claimed. But they were cool and threw in some extra money, even though that client of mine was very rude to his adjuster (from what they told me when they called to update me on his claim). And this was also Safeco, so I wouldn't brush them aside.

I currently have Progressive and couldn't be happier. IF you want phenomenal coverage, go through Chubb. You pay more, but you don't have to fight them to be covered when something happens.
I also sell Progressive as well, and I agree that they're also a fantastic comany. Their customer service is really good, though my only qualm is that "name your price" thing that their site has. It's cool if all that you care about is paying a certain price or less, but the problem is that people don't realize that some upgraded coverages may only be a couple dollars more per month, and they don't bother looking at the next step up. But luckily I'm smart enough to at least offer them the next best level of coverage, so they can either be happy with saving the $5 a month or realize that it's worth it to pay a little bit extra to go from a $1,000 deductible to a $500 deductible.

Chubb is a great company, but you don't necessarily "need" to have to pay that much of a premium for that kind of service. It's not as if every company that charges less than they do will lead to headaches. Chubb is very competitive with high-value homes, so a lot of their clientele falls in that kind of category. One of the problems is that to access them, you may need to go through a wholesaler (which is very likely), and you will see additional broker/wholesaler fees tacked onto your policy as a result.

And yes, more than just marital status, location, age, engine hp, driving record, etc. goes into your insurnace premiums. They also look at your credit score, which a lot of people don't realize.
That's true to an extent, but not all states take credit into an account. However, it's not going to make as huge of an impact as some people think. I've spoken with underwriters of various companies about that, some say that it can affect you negatively, others say that if your credit sucks then you just won't get any discounts, whereas neutral credit or better can help bring your rates down.
 
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