$916 per year to insure my 2015 f350. With a 500$ deductible. Massachusetts isn't exactly cheap. I get a break because I have my car and home owners policy through arbella. Arbella is the cheapest company around here by far.

 

Yes, location matters too. High crime areas, they charge more. Go figure. No wonder the bolshies hate the idea of insurance.

 

You missed my point about loyalty. Our parents and their parents had this thing called "loyalty" to the company and the company took care of them. Not the case anymore because of what big business has become. Its the same with most employee/employer relationships. The culture we live in now doesn't accept any type of loyalty in any relationships as being a good thing.


I worked in the insurance industry for almost 20 yrs after graduation of college with a bachelors degree in Insurance and a bachelors degree in Real Estate. You are mistaken about discounts for "good" fico score. Its a mathematical formula that, like any statistic, is used for the benefit of the insurance industry. Why do you think that it was just recently used as a premium price point? Fico scores have been around years and years and now all of a sudden they are important in my insurability? Don't think so. Your comments regarding young drivers and drunk drivers are true but have nothing to do with a fico score or my comments. And if you think that you don't subsidize those who are younger, those who drink and drive, those who text and drive or any other category that isn't exactly the way YOU are, you're crazy. Its called grouping an its how your premiums are calculated. You may get your insurance cheaper than they, but trust me my friend you are paying more because of the TOTAL risk the insurance company is taking on.


Finally, I am an "odd ball" an I am proud to be. But I don't owe my life to the bank or credit union or Wall Street for the privilege of being in debt to them. Please don't get me wrong, I'm not against credit and its proper use. But few people use it properly and that's when troubles begin. Simple as that.

 

If you worked in the industry, you know how a little how it works ...

but you don't think a persons past behavior should weigh in on their premiums, nor their age group? How about the kind of car they drive? Should a middle aged mother with five kids and a Mini-Van pay the same rates as a 23 year old single guy with a red Ferrari?

You get one guess.

How about the location where they live? Everybody should pay the same rates with respect to theft, for example?

You're not making any sense.

 

You say that like it's a bad thing. I pay less, others pay more, if they **** up. Sounds like a plan.

Fico scores have been around years and years and now all of a sudden they are important in my insurability?

Didn't say I liked it. That's the way it is, though. So it behooves people to keep their nose clean, pay their bills. Drive responsibly. Don't do drugs, or drink and drive, text and drive. Stay out of trouble. Credit scores are also used by employers as predictors of suitable employment.

Like it or not we are living in a kind "total information" society, there is no such thing as privacy, if there ever was. Governments, employers, corporations all over the world collect our data and analyze and sell it, bundle it, steal it, do all kinds of stuff with it. It's been hacked, and even given away. How does it feel, you got no secrets to conceal?

Your comments regarding young drivers and drunk drivers are true but have nothing to do with a fico score or my comments.

Like hell, it's the same damn thing as far as using past behavior as a predictor of future behavior. People with bad credit, poor spending habits, get in more accidents.

Is that in dispute? Or maybe people who get in accidents have more spending problems? Hell, I dunno. Let's not argue about reality, it's a waste of time.

And if you think that you don't subsidize those who are younger, those who drink and drive, those who text and drive or any other category that isn't exactly the way YOU are, you're crazy. Its called grouping an its how your premiums are calculated.

Why does the DMV make drunk drivers get SR 22? Don't their rates go up? Why is it called "Special Risk" insurance?

Do you think I should have to subsidize their policies at all? The key thing with Insurance - you've been to school for this, I hope they covered it - Insurance is a mutual thing, voluntary. Yes, it's a group thing, but like Groucho Marx, you don't let everybody in or it won't work.

Like, drunk drivers. Or 23 year old single males with red Ferraris. Make good responsible driver rates as cheap as possible, make the deadbeats and crazy drivers pay their weight. There isn't anything wrong with this.

 

Wow, Tedster9, where to start. First, go back and read my post. Slowly this time so that you may understand and comprehend what it is I'm saying. Yes, age, type of vehicle, location, gender, etc. are a part of determining your premium. These are hard, solid facts about an insured. Never have I said otherwise. Drunk drivers and special risk same thing. But using your own words, a mother of five with a minivan and a mortgage is almost certain to have a lower credit score than the 23 yr old with a Ferrari living in an apartment. Check your fico scores with the big 3 rating bureau's. Each one is going to be a little different, sometimes more than others. That is all I am saying, that a fico score is an imperfect item just recently used by insurance companies to help increase premium dollars. The 650 mom doesn't deserve to be hit harder than the 700 23 yr old just because he had more income (assuming that if he owns the car he probably has the income).


Regarding the key thing with insurance comment, you might want do brush up on what a "mutual" thing is. We did cover it an I understand it. Not all insurance companies are "mutual's" Voluntary? Other than liability, which I believe is mandatory in all states if you license a vehicle, the only thing voluntary is if I own the vehicle/home and wish not to transfer my risk of loss. Have a loan against either and see what the loan servicer says about your "voluntary" insurance.


I hope I have used my one guess to help you understand. But, looking at the tone of your posts, I doubt it. Dude, with the money you have saved with your good fico score, you should look into some anger management therapy. You'll feel better!


Oddball out.

 

Wife is 40, I'm pushing 42, both of us have clean driving records. 2013 tacoma, and the truck in my signature is about $1200 a year, full coverage through USAA.

 

$690 per yr/$1000D for collision for the '16 F350.
Do have a '15 Focus and a '15 Bearcat Toyhauler on the policy which adds a additional $845 per year. Full coverage on all 3, Hartford Insurance.

 

Ins bill came in this week, $140+ change for 6 mo. This is a commercial policy tied to farm thru Farm Bureau.