Insurance question
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Posting Guru
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Insurance question
For those of yall that have a play truck for the weekends and stuff and a daily driver, do yall find that you svae gas money this way or does the extra insurance eat it up? Just won derin how it works for everyone.
Post Fiend
Joined: Mar 2009
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From: Chicago and Mt Carroll IL
I think it's impossible to save gas money with a 5.4 in a 7000 lb. truck, most times I feel like I'm sending an oil shieks kids to college (probably here in the states because they'd rather buy gold toilets than educate their spawn). But, in response to your inquiry, I own a '97 ranger 2.3 that I try to use for short city jaunts during the week, an '08 4runner that I use for comfort and getting around in the snow, a '67 chrysler imperial 440cid that should have an oil well in the trunk, mostly for pleasure in warm dry weather, and an '08 Ford SD 2wd for fun and hauling. Since my 4runner is insured as my primary vehicle, the others become "pleasure" vehicles and are MUCH less expensive to insure, although the mileage is limited as pleasure vehicles. The chrysler is insured seperately as a classic vehicle for pennies by comparison. So, I beleive that the added fuel costs of the f250 are at least subsidized by the lower premiums but it still costs more overall than if I were driving the 4runner exclusively. But it's worth it for the fun/variety factor, to me, at least.
Postmaster
Joined: Dec 2007
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From: Moonlight Moose Enclosure
I have two trucks my 00 excursion and my 59 ford p/u My 59 is still (insert big GRRRRRRR here) at body shop waiting for some little things to get done so my ex is daily driver. has been since day one. I pay 98.00 a month insurance for them so it isn't bad. Gas isn't a butt kicker until it hit 3 a gallon then Im all rattles and horns when I fill the tank. Once my "Hoosierbaby" is back from shop I will drive it just because it is all I have of my dad and grandpa. It is my connection.
Hotshot
Joined: Jan 2008
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From: Rochdale MA
It may also depend on the state. Mass has some of the highest premiums around and as far as I know they don't have a "part time" use policy. There are some stipulations as far as antigue plates and such. If the 2nd vechicle is fully paid for you can put Option 3 insurance on it here. That covers the other property damage if you hit something but not your vechicle. You best bet may be to talk to an insurance agent.
Post Fiend
Joined: Feb 2007
Posts: 7,191
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From: Blairsville,Ga
That would depend on how much you drive.I tried it once because the fuel sipper was free.
It didn't pan out because I didn't use $700 ( the cost of ins) a year in gas for it so it actually cost to own it
I sold the car and could buy a couples years fuel for my truck
It didn't pan out because I didn't use $700 ( the cost of ins) a year in gas for it so it actually cost to own it
I sold the car and could buy a couples years fuel for my truck
Post Fiend
Joined: Jun 2001
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From: Running Springs CA
You have to drive a lot of miles to make the numbers work. Like it or not, one vehicle, no matter how thirsty, is usually cheaper than two. Not only is there insurance, but licensing fees (just went up in CA), a place to store it, maint and repairs, some of which are time, not mileage based, like batteries, etc. If you are paying cash, its the lost interest from the money not being in the bank and if you finance, its the interest you pay the bank on money borrowed for that second car.
Yes, State Farm gives me discounts for driving each one less than 7500 miles a year and multiple cars, but it is not half price.
Jim
Yes, State Farm gives me discounts for driving each one less than 7500 miles a year and multiple cars, but it is not half price.
Jim
Elder User
Joined: Apr 2008
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From: north shore, minnesota
My Grand Am has yet to pay for itself in fuel savings and I've had it for 2 years. By the end of summer 2010 it should have paid for itself, but I'm sure I'll have to sink some maintenance money into it by then so maybe a little longer. As far as insurance goes, I put the truck on comp only thru the summer and liability on the car. Drop insurance on car and full coverage on truck during the winter.
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Post Fiend
Joined: Mar 2009
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From: Chicago and Mt Carroll IL
Hey Jim, probably area based but my State Farm is 1800 on the 4runner, the 97 ranger is added at 550 (Full coverage, its near mint) and they only hit me up for an additional 800 on the SD. I'm garage kept, claims free and my primary residence is also insured so premiums are prob as low as could be. Talk to your agent, I think they have some breathing room on premiums. About 3 years ago, I was gonna switch out everything to a multi line broker and they reevaluated and kept me. Still a lot more expensive than a single vehicle though.
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Hotshot
Joined: Jan 2008
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From: Rochdale MA
Hey Jim, probably area based but my State Farm is 1800 on the 4runner, the 97 ranger is added at 550 (Full coverage, its near mint) and they only hit me up for an additional 800 on the SD. I'm garage kept, claims free and my primary residence is also insured so premiums are prob as low as could be. Talk to your agent, I think they have some breathing room on premiums. About 3 years ago, I was gonna switch out everything to a multi line broker and they reevaluated and kept me. Still a lot more expensive than a single vehicle though.
MA used to regulate the rates. Now they are somewhat regulated. They are still high though. I agree the best bet is to talk to a couple of agents.
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Posting Guru
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Yeah my 'daily driver" wouldnt exactly be a gas sipper either...probably a 4.0 ranger...so the gas difference wouldnt warrant two vehichles right now. And Im young I got time to keep fixing it when I get carried away.
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