Is that unusual? Might be worth mentioning we have State Farm and have our house insurance through State Farm so we get a discount on the auto insurance, and have other discounts (accident free, multi vehicle, etc) but yes it is 100% true. The Explorer and F150 are both financed and have full coverage with $500 deductible including zero deductible comprehensive on both. Mustang is paid off and has full coverage with $500 deductible on everything.

 

Wow....The only thing else that I can say is that’s awesome.
Very cool indeed.

 

Wow.
Well, I live in GA so I guess it’s true when they say we have some of the highest automobile premiums in the country.

 

Yes its not bad. I was suprised myslef since insurance for my wifes 2017 Lexus NX Fsport which was $45K so thats $30K less then my truck is at $809.00 a year 🤔. Both cars are insured with State Farm and both are paid off if this makes a difference?

 

I've heard some crazy stories about the crime rates in Savannah and Atlanta. Car theft rates being among the highest per capita in the nation.

 

Total exaggeration.

Just like any every State and every city, Georgia has crime but as you said, they’re just stories and the car theft rates are not among the highest per capita in the nation.

You do know that GA is the 8th most populous right?

One of the major determining factors of insurance rates is the average cost of repair on a vehicle in that particular State.

With that being said, my insurance company is always one of the top / best every year so I’m sure that has much to do with my premiums.

 

My 2012 F-150 was $1,450 a year then the new 2016 F-150 jumped up to $2,100 a year.

"Aluminum body" was the explanation. I switched over to a mileage-based since I hardly drove over 3,000 miles a year.

The new insurance on the F-150 fell to around $65 a month. The new Silverado cost more than the 2016 F-150 but my insurance dropped to $55 a month.

 

I was stationed in Savannah for 3 years. I don’t remember there being a huge problem with crime. Savannah is an awesome place to live, and the area is beautiful. If I would not have wanted to move back to my home state of Louisiana after I retired from the Coast Guard, I would have retired in Savannah.

The insurance rates in Louisiana are out of control, and are some of the highest in the nation. We need tort reform here, and it’s time the state government steps in and does something about it.

 

I will say- we are required to have uninsured/underinsured coverage here but honestly, I have the minimum or only one step above on that (I believe I have 20/40/10 vehicle/property/injury). Have had it that way as long as I can remember. You guys required to run that in GA?

But, good to hear that we have a good rate! I've had State Farm as long as I've been driving so I'd hope we would, and we both have good records.

 

No, it’s not required in GA but I’ve always had it on every vehicle I’ve ever owned and to me it’s worth it because one never knows who or who isn’t insured.
I also get GAP insurance on any vehicle I purchase unit it’s paid off and again, to me it’s totally worth it.

 

What's the advantage of having GAP once you've reached equity value? I thought it was only good for covering the difference between the book value and what is owed in the event that you are upside down.

 

Zip code, where it's registered. Live in a high crime area, it costs, in more ways than one.

It costs more if you park on the street too, a garage is a good thing to have.

 

I guess you’ve reached equity value and your vehicle is 100% paid for.
Good for you.

 

Equity would be when you owe as much or less than book value.

 

https://www.foxbusiness.com/features...does-not-cover

Here's some nice to know things about "Guaranteed Asset Protection" GAP insurance.

Last year when my daughter bought her 2018 truck, the F&I guy was trying like hell to sell her total loss coverage.

I intervened and asked him why he was pressing on her so hard to buy this. I reminded him that we negotiated over $11K off the MSRP and she wrote a check for $10K as a down payment. Suddenly the $56K truck has a balance of $35,000. I asked him if the truck would lose $21,000 of value once we roll out. He STFU in a hurry as he knew he was about to lose the deal................again.