New to US and Auto Insurance costs

[cjmcb]

Hi guys,
I’m new to the US having just moved over from the UK and one thing that’s surprising me is the cost of auto insurance.

I’ve looked at lots of cars and trucks and I’ve found that if I take a vehicle from 2015, insurance is around $100 per month but if I make the same vehicle one year newer i.e. 2016 or newer, insurance jumps up by nearly a factor of three to $298 per month; my question is, why?

Any help greatly appreciated.

 

[smurfslayer]

Usually the difference isn’t that stark, all other things being equal. Do you have poor credit, significant criminal history, questionable affiliations (besides FRF), traffic citations, insurance claims, or oddball situations?

 

[84 Sheepdog]

That is really high, I'd check with other companies. As smurfslayer said it depends a lot on your credit and driving history. Your location and age will be a large factor as well. I've always had good luck with State Farm, suggest contacting them. Also, if you own a home and have a homeowners policy that will usually reduce your auto rate with most companies as well.

 

[cjmcb]

Thanks guys. I have good scores etc so not sure what the cause is. It just seemed like a line in the sand for all cars I tried that 2015 or older is cheap and 2016 or newer is mega expensive. I was using All State and Geiko: I’ll try State Farm too and see how I get on.

 

[JasonSTL]

It shouldn’t be that drastic between a single model year. For reference I pay $100/month for my 2021 Raptor and have 500k/500k liability limits, $250 comp deductible and $1000 collision, glass coverage and am 39 years old.

 

[cjmcb]

That’s what I was thinking too. I’m new to US car insurance as from the UK and just to show how much more US insurance is, I had a C63 AMG with the 6.2 and a Audi A6 3.0 BiTDi and to insure both on fully comprehensive cover was $650 for the year.

I’m still learning the best ways to do this stuff ;-)

 

[smurfslayer]

Well... Ally or not, there’s still some lingering ... well... bitterness from the late 18th and early 19th century unpleasantness. Honestly, insurance is basically a legally sanctioned protection racket here. They can use whatever data they want to raise your rates. You might get your rates raised due to say, increased auto theft rates in your area, then move to a lower crime state and go to revisit your rates and guess what - no lower rate for you because <insert excuse here>.

Insurance companies are like diapers and politicians. They should be changed frequently, and all for the same reason. Shop around.
Use corporate discounts if you have or can get them. Ignore Geico (they will cancel your policy at the drop of a hat. They will drop the hat). If you are a “new” driver, or have no driver history here, then that could be an excuse.

Just be glad you’re not a 16 year old male, new driver. I don’t know what they charge now, but back in the late 80’s it was over $2k per year with a clean record.

 

[cjmcb]

It shouldn’t be that drastic between a single model year. For reference I pay $100/month for my 2021 Raptor and have 500k/500k liability limits, $250 comp deductible and $1000 collision, glass coverage and am 39 years old.

Who are you insured with? If you don't mind me asking?

 

[JasonSTL]

Who are you insured with? If you don't mind me asking?

Farmers.

 

[cjmcb]

I’ll give them a try- thanks.