So true.

But I think CA it is SUPPOSEDLY illegal for the insurance company to charge premiums factoring in someone's credit score? So I guess in the GREAT REPUBLIC OF CALIFORNIA the insurance company just charge EVERYONE higher premiums?

 

Don't even get me started on the premiums for my teenage kids.

BTW, it was CHEAPER to "assign" my old MB SLK55 AMG to my kids versus our other Lexus vehicles (our hybrids, CT200h and RX450h would have been a lot higher. Same for the LX570, although a bit cheaper versus the hybrids. I guess it costs a lot to fix the hybrids in case of a crash). Our Ford E450 chasis RV would have cost the least for our teenage kids, but it won't be reasonable since who drives around a 33 feet RV in town anyway?

 

Well think of it this way--You're 25, driving an rcf and own a house, which I would think is way ahead of people in your age group. Bravo!
Pretty sure $190 ain't hurting you. It will just delay buying the Tom's stuff 😉

 

$604 annually with Ameriprise (Costco). Included 2001 F-150 (liability only).

Discounts: MULTI-CAR, PREMIER SAFETY, TENURE, COSTCO, MATURE, GOOD DRIVER
Multi-car
$1000 deductible
300/100 UM/BI
Pleasure use <7k yr.

Credit score 830+

 

I'm a little surprised that it was cheaper to assign the SLK to kids.
I would assume that it would still cost more to fix compared to a hybrid but can't really comment without knowing the year of the SLK.

Haha thanks Ming.
Just a bit rough since insurance for home + car combined is like 5k a year and I feel like should be able to lower the premium...
lol on the Tom's!

 

Without knowing how CA runs its insurance market it is difficult to determine whether this results in an "increased cost for everyone" or just simply a different insurance market based on different factors. Would be fun to know the profit margin of a CA insurance co. vs one in a state with very minimal regulations. I would bet anything the free state has a higher profit margin for the insurance co, but the absolute lowest attainable rate is probably lower, but it would be fun to see how much of a difference would exist. CA is bizarrely communist on many things, not so much on others.

One thing that always annoyed me is the cost to run a 2nd vehicle. For example I would gladly sign an affadavit/contract or something stating that under no circumstances would both vehicles be driven simultaneously; yet, somehow, I still have to pay mostly full price for a 2nd vehicle on liability that is just sitting in my driveway or parked in a garage, even though, while it is doing so, it creates little real liability risk whatsoever, unless someone stole it from my driveway and started
running over people with it.

-Mike

 

I haven't figured out how to drive two cars at once either....I know what you mean. Glad to hear your not in that 4K group anymore. That's insane!

 

Agree, I have spent roughly half of the past 15 years with 3 cars and only two drivers (my wife and I), it always irritates me that the car that typically has the highest insurance gets driven the least (my fault because the fun car is typically not the dd). And when the fun car is being driven, at least one of our other cars cannot be driven, yet we get no break on insurance.

 

Exactly!! A few years ago there were just two drivers (my wife and I) for our multi-vehicles. At any given time MAXIMUMLY really only two vehicles will be on the road. But I still got charged more than I think is fair.

Now with two teenage kids driving (a third teenage kids is not too far behind), our rates had skyrocketed!! I can't wait till September when college first year starts with our oldest kid so I can tell the insurance company to take him off!! (Savings of about $2400 a year with just one kid!!!)

 

My SLK55 AMG is 2006 low mileage (56k odo). BTW thinking about selling it since it just sitting in the driveway. I drive the RCF mostly now.

 

Agreed. I bought a new Tacoma last December and was astounded to see my FICO was 834. Yet...my insurance is also very high. $120/month

 

lol at credit score affecting your insurance the most. getting an accurate quote does require a social security number. having lapsed insurance or many claims/points will effect it.

 

~$1000/mo through USAA. 5 cars. Who knows how many claims across 4 drivers.

 

My condolences... I thought I had it bad at what was $4000/yr...

-Mike