  Cambrian Member Username: Cambrian Post Number: 324 Registered: 08-2006 |
My rates keep going up, Full coverage on my old Dodge ram costs now close to 1600 / yr. I have not had a ticket or accident in years and I am well north of 30. This frustrates me to no end as I recall when I could afford new vehicles my 2000 Silvarado only cost $900 a yr. to insure. That's my question, have the rest of you seen your rates increase for no reason too? My friend in Detroit has his address listed at a Friend's place in Ypsi to get low rates. What are some other things that we can do to get lower rates?. I live in a first ring suburb and see no reason to lie about my address. There are no vehicle thefts that I am aware of in my neighborhood. | ||
Detroitnerd Member Username: Detroitnerd Post Number: 749 Registered: 07-2004 |
It's the old "donkey punch": They screw you and then knock you senseless. | ||
Fortress_warren Member Username: Fortress_warren Post Number: 207 Registered: 10-2006 |
Get rid of the full coverage on a 16 year old truck!!! You'll only get a couple of thousand for the hole in the floorboard beater if it gets totaled or stolen. If that. Just have liability. You go 4 or 5 years without paying the premium, you've got the same money in your pocket as the insurance company would pay for a total loss. I hated Michigan's no-fault on collision, in Cali I can get the guy that hit me to pay, even if I don't have collision coverage. | ||
Cambrian Member Username: Cambrian Post Number: 325 Registered: 08-2006 |
Well, the truck is worth about 3 grand, I'd rather pay a little higher rate then be stuck having to come up with the money to buy another one in the event an accident occurs. Like I said at one time the price was about 350/ yr no fault vs 900 / yr full coverage. | ||
Detroitplanner Member Username: Detroitplanner Post Number: 399 Registered: 04-2006 |
I pay $1,400 a year to insure my 2004 Mercury Sable with full broadened coverage. I would suggest you learn more about what you are insuring and make sure that you coordinate insurance where you can (PIP can vary greatly, and PIP covers most of the same stuff medical insurance does). I agree PLPD that truck. After two years you are paying more than the thing is worth, that does not make sense. | ||
Cambrian Member Username: Cambrian Post Number: 327 Registered: 08-2006 |
PIP means "Personal injury protection"? | ||
Itsjeff Member Username: Itsjeff Post Number: 7138 Registered: 10-2003 |
<---2004 Saturn Vue, full coverage, $550 every six months, 48214 ZIP code. "Drive" insurance from Progressive. (Message edited by itsjeff on November 20, 2006) | ||
Viziondetroit Member Username: Viziondetroit Post Number: 940 Registered: 11-2003 |
^ How many cars do you have under your policy to get it for less than $100/month on such a new vehicle? | ||
Ndavies Member Username: Ndavies Post Number: 2327 Registered: 10-2003 |
What is your deductible? Having a low deductible will also really jack up the price. Change the deductible to $500. | ||
Detroitplanner Member Username: Detroitplanner Post Number: 401 Registered: 04-2006 |
N Davies has a point, I forgot to mention increasing the deductible. I raised mine to $500 several years back, it has more than paid for itself in increased savings. Jeff do you have a multi-car discount? If not, who is your agent! | ||
Detroit_girl Member Username: Detroit_girl Post Number: 69 Registered: 10-2003 |
Purchasing homeowners' and car insurance from the same company can lower your rates in some cases. Or, paying your car insurance in 6-month or yearly installments can also result in a discount. Every little bit helps. | ||
Detroitplanner Member Username: Detroitplanner Post Number: 402 Registered: 04-2006 |
I pay my car insurance yearly. My homeowners does not give me that good of a discount on a combined policy, as I already use that discount for my Cabin Up North. My car insurance does not insure homes! | ||
Itsjeff Member Username: Itsjeff Post Number: 7139 Registered: 10-2003 |
I have one car. My rates went down when I turned 40. I have a $500.00 deductible. | ||
Detroitplanner Member Username: Detroitplanner Post Number: 404 Registered: 04-2006 |
Hey I turned 40 this year too, I did not get a big bump down! | ||
Cambrian Member Username: Cambrian Post Number: 331 Registered: 08-2006 |
Try Amica for home owner's they charge me like half what other carriers want. Peculiarly they're higher for car insurance though. | ||
Yvette248 Member Username: Yvette248 Post Number: 161 Registered: 10-2006 |
"I'd rather pay a little higher rate then be stuck having to come up with the money to buy another one in the event an accident occurs." Instead of paying the insurance company $1600, you can put that money in a savings account and have that if something ever happened to your truck. Either pay the insurance company or pay yourself. (put it in a SEPARATE account so you won't spend it.) | ||
Detroitplanner Member Username: Detroitplanner Post Number: 405 Registered: 04-2006 |
I had Amica for car insurance a while, I got a better rate with AIG. When I shopped if a few months ago, I was still getting a good rate with AIG. I've never tried them for homeowners though.... (Detroitplanner gets all drolly and giddly like when Mr Drysdale the banker would find a nickle on the street) Yvette is right the money always looks better in my pocket than in the insurance companies. (Message edited by Detroitplanner on November 20, 2006) | ||
Cambrian Member Username: Cambrian Post Number: 332 Registered: 08-2006 |
Right! My situation is a little unique, my X trashed my credit by letting her house with my name on it go into for closure three times since our divorce four years ago, so I could not rely on a bank to give me loan to buy another vehicle if my truck were to get totaled tomorrow. And any $500 beater I've ever bought needs at least another $1000 worth of work before I could trust it to get me to work and school. That's why I bite the bullet and insure the old truck for full coverage, all though I admit that at $1600 / yr it does start looking cost ineffective. | ||
Yvette248 Member Username: Yvette248 Post Number: 164 Registered: 10-2006 |
Cambrian, how much money do you think the insurance company is going to give you to replace your truck? If you have an old car, by no-fault and SAVE YOUR MONEY!!! | ||
Cambrian Member Username: Cambrian Post Number: 333 Registered: 08-2006 |
I would expect about 3 grand, usually all you have to do is bring three valid sources of value, NADA guide etc., plus all the receipts for recent repairs. I had a not at fault accident with my old '69 AMC, where some guy backed into me in a parking lot, AAA paid to fix it up real good. | ||
Jerome81 Member Username: Jerome81 Post Number: 1190 Registered: 11-2003 |
I don't know if anyone here has tried it (and I live in CA), but if you're a costco member, go to "SERVICES" then "AUTO/HOME INSURANCE" on their website. They route you through Ameriprise. I have them and they were able to save me a substantial amount over everyone else I tried. At least $200/ year better than the next closest, which was Mercury. I got hit and had to file a claim. Went through as smooth as could possibly be. 100% impressed. Worth a shot. Try bundling home along with it. | ||
Conman Member Username: Conman Post Number: 3 Registered: 06-2006 |
I work for a car dealer in Detroit and we loose so many sales because of the cost of car insurance for Detroit city residents. | ||
Cambrian Member Username: Cambrian Post Number: 336 Registered: 08-2006 |
Yes, that is price gouging pure and simple, punishing people for choosing to live in a large city or who cannot afford to live anywhere else. I do not know why it is tolerated so readily. | ||
Ray1936 Member Username: Ray1936 Post Number: 930 Registered: 01-2005 |
Detroit and Michigan is not alone. I recently moved from Las Vegas proper to the boondocks out in Henderson, a LV suburb (zip codes 89121 to 89044). Full coverage insurance on my Ford Explorer was $1,200 and change a year; in my new digs it's just under $800. | ||
Bvos Member Username: Bvos Post Number: 2080 Registered: 10-2003 |
Cambrian, do the math here: $1,600 x 2 years is $3,200, more than enough to buy a car and rent one while your looking for that car. Cut back on your coverage and/or find someone in the 'burbs to insure your car. | ||
Jerome81 Member Username: Jerome81 Post Number: 1191 Registered: 11-2003 |
I would NOT suggest lying about your address. They find that out and they can deny your claim. You tag someone and send them to the hospital and rack up the medical bills and you gotta pay for everything. Just get the coverage you need and be honest. | ||
Eastside Member Username: Eastside Post Number: 974 Registered: 01-2005 |
How many forumers who preach the letter of the law in Detroit...are breaking this law...and will justify it? Thats ok...don't answer. | ||
Itsjeff Member Username: Itsjeff Post Number: 7142 Registered: 10-2003 |
I just checked my records and see that my premium is $850 every six months, not $550. Apologies for the bad info. | ||
Fortress_warren Member Username: Fortress_warren Post Number: 209 Registered: 10-2006 |
Is there no-fault insurance and something else now available in Mi? 30 years ago, I had to have collision to get paid, even it was someone else's fault. Sounds like there's been a change. | ||
Cambrian Member Username: Cambrian Post Number: 337 Registered: 08-2006 |
I think I'll keep that coverage on until spring time. I just don't have the money to replace the truck if I were to total it now. At that time I pull my classics out of storage anyways. I will call Alstate and see about the PIP though. Funny about rates, it's not just zip code, you can get different rates in the same zip code. | ||
Ndavies Member Username: Ndavies Post Number: 2328 Registered: 10-2003 |
Fortress_warren, the laws are pretty much the same as they were 30 years ago. The most you can get out of someone who hits you is $400. This is why Michigan has the highest insurance rates in the country. It reduces the number of lawsuits, The original goal of no-fault insurance, but really jacks up the price of insurance for all drivers. | ||
Track75 Member Username: Track75 Post Number: 2448 Registered: 10-2003 |
Cambrian, some insurers use credit scoring. People with good credit tend to cost less to insure, so they get a discount off the base rate. Those with poor credit don't get that discount. Shop around (a lot). Rates vary widely between companies because they all use different formulas to determine risk. Some insurers may not use credit scoring, that would help you. | ||
Fortress_warren Member Username: Fortress_warren Post Number: 214 Registered: 10-2006 |
Thanks, Ndavies, hard to believe the voters in Michigan haven't dumped no fault. It doesn't work as intended. E-surance, the company that runs the cartoon ads with the Pink Hair Chick, uses credit scoring. Only they write the policy subject to verification of credit score. So the $600 a year becomes $1000 after they check. You get hit with a $150 early cancellation fee, or more, if you want to bail. Shit like this is why people hate insurance companies. And I worked for a good one for 18 years. | ||
Rustic Member Username: Rustic Post Number: 2951 Registered: 10-2003 |
One should absolutely NOT engage in insurance fraud. You really are really playing with fire. (1) IF you do get caught you will be screwed for the rest of your life re insurance rates. (2) If you have any assets (like a house or savings) you are risking those and in the event of a bad accident probable bankruptcy. (3) Even if you don't have assets right now eventually you will want a house, I assume, and getting flagged by the ins company screws your credit rating. That said there ARE a variety of clever and _legal_ means for redlined residents to avoid high rates. Talk with your neighbors offline for advice ... in particular speak with long time Detroiters who know the drill. Oh yeah one other thing: if your car is fully paid for and not worth much ABSOLUTELY max out your deductible: make it as high as possible, and try to NEVER make a claim on the silly ticky tacky stuff. Even if your car is worth a lot, assuming it is paid for you should also have a high deductible. | ||
Yvette248 Member Username: Yvette248 Post Number: 174 Registered: 10-2006 |
Its not just Detroit either. I moved from one suburb to another and saved 20% off my rates. | ||
Detroitplanner Member Username: Detroitplanner Post Number: 410 Registered: 04-2006 |
I would agree, it is not worth your while to lie about residency. I floated it by my insurance agent (who is my friend's mother) who told me that if I 'garaged' my car at my cabin instead of my place of residence, I was risking fraud. You do not want to risk fraud when you are operating a vehicle that could damage property or hurt someone else. You need to be cognizant that the most important thing to ensure is your future, not your car. |
