Car Insurance

[caudio51]

Just filled out my renewal form. Lets hope it goes down. :angel:

 

[tobby4]

Ha.. good luck... who is it through

 

[caudio51]

New Jersey Manufacturers. One of the best in the state. A private company that pays out dividends. When I joined from State Farm it went down about 40% with the same coverage.

 

[tobby4]

A mutual company I assume?

 

[Headbanger]

Lets hope it goes down. :angel:

Nice !

 

[Headbanger]

Honestly Tom, when you turn 25 should drop a good bit if you have a good driving record. That and marriage will also.

 

[caudio51]

Yep, a mutual company.

So I'm told Steve. Currently paying around 1700 a year.

 

[tobby4]

Damn, thats a bunch.. and to think it went down already when you changed companies...

 

[Headbanger]

So I'm told Steve. Currently paying around 1700 a year.

FK DAT! When I was 19, as a bad single driver with a POS car, I had to pay about $2400 a year thru MD Auto Insurance Fund. I think all the high risks that no one insures have to go there and pay out the ass till you get to 21 years old. Now I get 5 times the coverage and two cars with liens pay just over $1200.

If you stay put this year, most definitely shop next year Tom when you hit the quarter century. Another pointer, a lot of car insurance companies offer you no sir charge or no rate hike if you have a clean record for 5 years with them and you have an accident. Sometimes not always the price to consider. Best of luck.

 

[caudio51]

Well this company is one of the best in terms of not dropping you, paying claims, offering dividends,

 

[tobby4]

The dividends are a plus but looking at the policy as a whole, it will be beneficial to you to look at other companies when the next birthday comes around

 

[Kingston]

The dividends are a plus but looking at the policy as a whole, it will be beneficial to you to look at other companies when the next birthday comes around

You should always shop around every time your policy is up for renewel.
Takes a couple of minutes, and can really save you money.
Another thing to look for is if they give association discounts (Alumni assoc, Teachers union, etc) as well as a profession discount. My job can be classifed as IT professional, Computer programmer, or Biologist. One of those got me a discount at one company and no discount at another.

 

[CWS]

You should always shop around every time your policy is up for renewel.
Takes a couple of minutes, and can really save you money.
Another thing to look for is if they give association discounts (Alumni assoc, Teachers union, etc) as well as a profession discount. My job can be classifed as IT professional, Computer programmer, or Biologist. One of those got me a discount at one company and no discount at another.

Excellent point. It always pays to compare. You would not beleiev the people that just roll with the flow. Its what makes companies like mine money.

 

[tobby4]

If the average insurance consumer was actually educated on what they needed and the nuinsances of the policy then it would help the market a ton...

 

[caudio51]

Yea, you need to read everything and truly understand it. I know a huge percentae of the population certainly doesn't do that.

 

[Kingston]

Another thing to keep in mind, is that for liability coverage, the difference between 25K per accident coverage and 100k (or higher) coverage can be only $5-10 a year.
Why would somebody need 100K in coverage? Well, there are are more and more SUVs and other high end vehicles out there that can cost a lot to repair.
If you're found at fault for a multi-vehicle accident, you can burn through that 25k limit pretty quick.

 

[tobby4]

Yea I dont know of any states where the legal limit is actually enough to cover a bad wreck injuries and all

 

[caudio51]

The legal limits are usually so low that you would be nuts to choose that one.

 

[RonC]

for folks in the northeast, try Farm Family Insurance. Excellent auto rates. beat Geico by 30%. excellent rates on homeowners too.

 

[tobby4]

The legal limits are usually so low that you would be nuts to choose that one.

you would be shocked at the %'s of who has the state minimums