Insurance Cost

[crash457]

I absolutely hate this ********. I live in Michigan and it's the worst for insurance (my rates doubled when I moved from Ohio) and then they bill me about $2500 a year for registration tax on my five cars. Ohio was $35 a tag regardless of vehicle, while Michigan bills you based on msrp of the vehicle regardless of what you actually paid or bought used. My 16 year old Ferrari 360 I bought used 5 years ago for about the price of the Raptor new gets taxed based on a $200k msrp.

Ouch. That sucks.

 

[Tom]

I absolutely hate this ********. I live in Michigan and it's the worst for insurance (my rates doubled when I moved from Ohio) and then they bill me about $2500 a year for registration tax on my five cars. Ohio was $35 a tag regardless of vehicle, while Michigan bills you based on msrp of the vehicle regardless of what you actually paid or bought used. My 16 year old Ferrari 360 I bought used 5 years ago for about the price of the Raptor new gets taxed based on a $200k msrp.

I hear you brother. I paid about $3800 in property tax this year for three vehicles and a motorcycle. It really sucks!

 

[NE Ford]

Going to a 2010 raptor from a 2011 f150 my insurance dropped $24 annually.

 

[TRIMMELL]

On my 14' Raptor I paid just under $100/month for full coverage through Progressive with everything absolutely maxed out registered in Kansas. It always made me laugh that my 14' Chevy 1500 LT 4x4 with a sticker of $41K was $25/month more than a $57K Raptor.

 

[yenrod]

I'm pretty sure obama pardoned all insurance requirements for all '17 Raptor owners

 

[TScozz]

I have Amica and pay $251.00 per month for full coverage on:
2015 Lexus GX 460
2014 Raptor
2009 Lexus IS 250
1998 Jeep Wrangler

Sent from my SAMSUNG-SM-G935A using Tapatalk

 

[nitronate33]

unfortunately (or fortunately, depends how you look at it) insurance is not driven primarily by the value of your car. the algorithm is different at all insurance companies based on the data that they use. i use geico because they give you much lower premiums for cars driven under 5000 miles a year of which i have two. they send me paperwork every once in awhile requiring me to log my odometer and re-input mileage per year, but it works out great for me.

i remember taxachusetts charged 1% of the current value of the car every year. what a rip. but hey, when you live in liberalville, expect to get tax-*****. now i pay about $90 a year per car for both inspection and registration (and NO emissions, which is great).

 

[Tonecapone]

My full coverage Geico policy from my 2015 platinum F150 is dropping down $52.00 a year moving to the Raptor. BTW, if you have Geico auto insurance the policy on new cars under 12 months old comes with 7 year 100K warranty. They call it mechanical breakdown insurance but it covers bumper to bumper just like the ford esp and you can take it to any repair shop you like. I did the math and I think the cost is 4 bucks a month for the coverage. Its one of the reasons that I have stuck with Geico for so long.
Tone

 

[armyturtle]

My full coverage Geico policy from my 2015 platinum F150 is dropping down $52.00 a year moving to the Raptor. BTW, if you have Geico auto insurance the policy on new cars under 12 months old comes with 7 year 100K warranty. They call it mechanical breakdown insurance but it covers bumper to bumper just like the ford esp and you can take it to any repair shop you like. I did the math and I think the cost is 4 bucks a month for the coverage. Its one of the reasons that I have stuck with Geico for so long.
Tone

Actually I just did a quote with Geico after finding out about MBI. First, it's NOT automatic if you have insurance with Geico. You have to add it on to your policy, and can only do so within so many miles/days of buying your new or leased vehicle. Second, the cost on a 6 month policy is $61.10. That's $10.18 a month. Given that you're extremely unlikely to use it at all in the first 3 years, that's $366.60 you'll pay with nothing returned during that period - however if you want it for years 4-7 (up to 100,000 mi. - whichever comes first for you), you'll need to decide quickly and have no choice but to "pay your dues" in the first 3 years. After 8 years of paying this $10.18 per month, you will have shelled out $855.40.

This cost pales in comparison to even a minor repair cost after your warranty is up, which is sure to be above $1000 after parts and labor (for me particularly living in California, every service here is ridiculous in cost). Unfortunately after doing a quote for insurance with Geico, their rates are pretty high. They can claim, "save 15% or more" all they want. I'm guessing that's a marketing tactic to draw in massive calls, but it's largely untrue for low risk drivers such as myself. Their quote was nearly $200 MORE per 6 month policy than my current insurance through Costco/Ameriprise.

I'm stuck. Unsure whether or not it's viable to jump ship or stay put. Probably not a good idea to change insurance companies based solely off MBI (mechanical breakdown insurance) for one vehicle.

 

[Tonecapone]

Actually I just did a quote with Geico after finding out about MBI. First, it's NOT automatic if you have insurance with Geico. You have to add it on to your policy, and can only do so within so many miles/days of buying your new or leased vehicle. Second, the cost on a 6 month policy is $61.10. That's $10.18 a month. Given that you're extremely unlikely to use it at all in the first 3 years, that's $366.60 you'll pay with nothing returned during that period - however if you want it for years 4-7 (up to 100,000 mi. - whichever comes first for you), you'll need to decide quickly and have no choice but to "pay your dues" in the first 3 years. After 8 years of paying this $10.18 per month, you will have shelled out $855.40.

This cost pales in comparison to even a minor repair cost after your warranty is up, which is sure to be above $1000 after parts and labor (for me particularly living in California, every service here is ridiculous in cost). Unfortunately after doing a quote for insurance with Geico, their rates are pretty high. They can claim, "save 15% or more" all they want. I'm guessing that's a marketing tactic to draw in massive calls, but it's largely untrue for low risk drivers such as myself. Their quote was nearly $200 MORE per 6 month policy than my current insurance through Costco/Ameriprise.

I'm stuck. Unsure whether or not it's viable to jump ship or stay put. Probably not a good idea to change insurance companies based solely off MBI (mechanical breakdown insurance) for one vehicle.

Im sure it depends on where you live and your history. Insurance companies are particular. I live in Maryland and personally I like the MBI. However, mine is not as expensive as yours. Also, I did not have to request it, they added when I bought my truck several years ago. Ive been with Erie and State Farm in the past and have been with Geico for the last seven years and currently have them for all our vehicles and homeowners. I normally shop rates every two years or so and Geico is still the cheapest for me and the MBI is a plus. I suggest trying a insurance broker and let them do some of the leg work for you. Also if you have multiple vehicles or a home or boat you may get better rates.
Tone