Insurance premium increase
Senior User
Joined: Jun 2001
Posts: 192
Likes: 0
Insurance guy here... Don't flame me 
Your insurance rates have many factors that control your premiums. Zip codes are a factor. As you can imagine higher crime areas will carry higher rates as your vehicle has a higher risk of being stolen.
Adding young drivers to the policy will creat a huge increase. Pay attention to the premium breakdown if your liability increases vs. comp and collision increases from your last policy period.
Bottom line: Lawsuits drive our costs up more than anything.
Your insurance rates have many factors that control your premiums. Zip codes are a factor. As you can imagine higher crime areas will carry higher rates as your vehicle has a higher risk of being stolen.
Adding young drivers to the policy will creat a huge increase. Pay attention to the premium breakdown if your liability increases vs. comp and collision increases from your last policy period.
Bottom line: Lawsuits drive our costs up more than anything.
Thread Starter
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Junior User
Joined: Jul 2005
Posts: 52
Likes: 0
From: Enterprise, Alabama
Well I talked to my insurance agent today and he told me that I bought my 06 truck in june of 05 and that the vehicle rating for that truck hadn't came out yet so they "ball parked" it at an 18. But when the vehicle rating finally came out it was a 23. So now I'm paying the for the 23 rating. Not sure exactly what these ratings mean but the higher the rating the higher the premium. And I also checked around and couldn't find any rates much cheaper than I have. So I guess I will just pay it and move on...
Senior User
Joined: Oct 2005
Posts: 462
Likes: 0
From: NW NJ
Ever consider increasing your deductible? I have a $1000 deductible on my auto and homeowners policies. The difference in premium, for me at least, was significant, and has really added up to savings through the years.
I've been forced to buy comprehensive and collision insurance for most of the last 26 years, ever since I bought my first new car .... a 1979 Ford F-150 Ranger. And I have never put a claim in. What a waste.
I believe in insuring yourself against catastrophe, and paying for the little stuff in life as you go. I think it has saved me money.
Just my 2 cents.
Jim
I've been forced to buy comprehensive and collision insurance for most of the last 26 years, ever since I bought my first new car .... a 1979 Ford F-150 Ranger. And I have never put a claim in. What a waste.
I believe in insuring yourself against catastrophe, and paying for the little stuff in life as you go. I think it has saved me money.
Just my 2 cents.
Jim
Cargo Master
Joined: Nov 2004
Posts: 2,858
Likes: 3
From: Friendswood, Texas
Originally Posted by ironmine
Ever consider increasing your deductible? I have a $1000 deductible on my auto and homeowners policies. The difference in premium, for me at least, was significant, and has really added up to savings through the years.
I've been forced to buy comprehensive and collision insurance for most of the last 26 years, ever since I bought my first new car .... a 1979 Ford F-150 Ranger. And I have never put a claim in. What a waste.
I believe in insuring yourself against catastrophe, and paying for the little stuff in life as you go. I think it has saved me money.
Just my 2 cents.
Jim
I've been forced to buy comprehensive and collision insurance for most of the last 26 years, ever since I bought my first new car .... a 1979 Ford F-150 Ranger. And I have never put a claim in. What a waste.
I believe in insuring yourself against catastrophe, and paying for the little stuff in life as you go. I think it has saved me money.
Just my 2 cents.
Jim
Elder User
Joined: Apr 2004
Posts: 535
Likes: 0
From: New Roads, La
Originally Posted by Super Steve
Thats the beauty of insurance. Everyone has to pay for the people that like to live below sea level or on a beach that gets hit by hurricanes 6 times a year. They know it's inevitable, and expect everyone to feel sorry for them and help them out when it's no longer sunny in paradise.
-couch
-p.s. if i misunderstood you or u were just playin around ignore all that up there. We've been through alot down here this year.
Last edited by jgc2521; Dec 2, 2005 at 09:41 PM.
Laughing Gas
Joined: Jan 2002
Posts: 817
Likes: 53
From: houston
I also have higher limits to cover me if I hit a Lexus or BMW. Most people just 25k limits. I believe mine are at least 50k. I don't want someone coming after me and my personal stuff. 25k just doesn't cover much these days. Shoot if I total another F250 that 45k.
Just my 2 1/2 cents. Plus my wife is in the insurance biz.
Just my 2 1/2 cents. Plus my wife is in the insurance biz.
Last edited by Beast12; Dec 3, 2005 at 08:01 AM. Reason: removed jacka$$
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Laughing Gas
Joined: Nov 2003
Posts: 904
Likes: 0
From: PHOENIX
Originally Posted by jgc2521
Hey Steve, I don't appretiate what you said. Everywhere has it's problems. The west has fires, the north has snow the south has hurricanes. Everybody has there problems. Think about it this away, New Orleans is hte 2nd busiest port in the U.S.. Without it, were would all your stuff come from? you cant possibly tell me you hav enever bought somethin foreign. Sorry to sound like a rant, it kinda is, but we've had alot of this since the hurricane(s). And by the way it isnt all paradise.
-couch
-p.s. if i misunderstood you or u were just playin around ignore all that up there. We've been through alot down here this year.
-couch
-p.s. if i misunderstood you or u were just playin around ignore all that up there. We've been through alot down here this year.
Back to super duty insurance, phoenix usually ranks #1 in the country for vehicle thefts due to it being a hub for alien/dope smuggling, so insurance is very high. Superdutys are the #1 stolen vehicles because they can carry ALOT of people/dope across the border when they are gutted. I'm temporarily woking in New Mexico, raised my insurance coverage while Im here, kept state farm, and Im paying 50bucks a month less here. So zip code/location is a very important factor.
Senior User
Joined: Jun 2001
Posts: 192
Likes: 0
Fort Rucker,
The vehicle rating is based upon the type of vehicle and it's use. A sports car will carry a very high vehicle rating because people like to drive them fast and the insurance underwriters believe the owners have a higher probability of being involved in an accident.
Another issue would be cost of repair. As vehicles get more technically advanced with all all the "bells and whistles" if you will, they become more expensive to fix. Ask your State Farm agent what a Porsche 911's vehicle rating is. It will give you a comparison for your Super Duty.
The vehicle rating is based upon the type of vehicle and it's use. A sports car will carry a very high vehicle rating because people like to drive them fast and the insurance underwriters believe the owners have a higher probability of being involved in an accident.
Another issue would be cost of repair. As vehicles get more technically advanced with all all the "bells and whistles" if you will, they become more expensive to fix. Ask your State Farm agent what a Porsche 911's vehicle rating is. It will give you a comparison for your Super Duty.
Senior User
Joined: May 2005
Posts: 408
Likes: 0
From: Michigan
Insurance companies rate right up there with oil companies.
Insurance companies provide a product that the government requires you to have and then throws millions of dollars at the elected by means of lobyists in order to get laws passed that are favorable for them to make obscene profits. Just my opinion.
Insurance companies provide a product that the government requires you to have and then throws millions of dollars at the elected by means of lobyists in order to get laws passed that are favorable for them to make obscene profits. Just my opinion.
Senior User
Joined: Jun 2004
Posts: 323
Likes: 0
From: SoCal
i am about 1000.00 a year on an 03 4x4 6.0. but i have high insurance amounts in case i hit something like a porsche. and regardless whatever i hit will be wrecked for sure, and there are a lot of expensive cars here where i live (SoCal). i can live with that amount but it would be nice if ti was less.