What do you pay for insurance? We pay $2683 per year!

[EV4ME+3]

I didn't think to shop insurance BEFORE I leased our RAV4 EV, then found that the premium is over $200/month! (Our Prius V is only $926/year, so $77/month) And they are crediting us for good driver discounts! My insurer (Liberty Mutual) tells me it's all due to the value of the vehicle. I assumed they were rating for the "unknowns" of battery fires, etc., but they say it's just the purchase price. Can anyone else tell me if this is in the ballpark? If anyone has experience with an insurer that's markedly less, please let me know the company. Apologies if I missed a thread on point, but I searched and didn't see any.

 

[tjka4231]

I'm paying $780 a year with Ameriprise Insurance that is affiliated with Costco. The deductibles are $250 for Collision and Comprehensive. Also it includes $40/day rental coverage, uninsured motorist, and covers up to $100k property damage and $500k bodily injury. Your rate will depend on your situation, such as where you live and driving record.

 

[n3ckf]

i think i'm paying exactly $864/year on my Rav4EV in the bay area with Farmers.

You're being ripped off, me thinks.

 

[4EVEREV]

As always, comparing rates between different parties is a completely pointless activity because of the countless variables. I can move 3 blocks away and pay $300 more a year on my same policy. One person may pay $500 a year and the other $4000. Pointless.

 

[cwerdna]

As always, comparing rates between different parties is a completely pointless activity because of the countless variables. I can move 3 blocks away and pay $300 more a year on my same policy. One person may pay $500 a year and the other $4000. Pointless.

Yep. From http://my350z.com/forum/2910760-post29.html

Q: How much will my insurance cost? How much are you paying for insurance, I want to compare to see if I'm paying a fair price?

Please don't ask that question. Ever. It is the most useless question that can be asked on this or any other automotive forum. Why? What you, I and anybody else pays is dependent on several factors: who your insurer is, where you live, how old you are, how many accidents/tickets you've had, what kind of discounts you get from your ins. company, how many cars and drivers in your family, etc.

As you can see, unless somebody is in exactly the same socio-economic situation as you are, they won't be paying the same for insurance. The only way to get a decent idea of what you'll pay is to call your current insurance agent or visit their website.

Even your credit rating can be a factor in your insurance rating and most definitely your zip code, at the very minimum.

 

[DevinL]

My Farmer's rate actually went down by about $10/mo when I switched from the LEAF to the RAV4. I'd definitely shop around for a different company.

 

[4EVEREV]

I'm sure this thread will go on endlessly so here is the answer. We all pay more or less than each other. Shop many carriers, end of thread.

 

[drmanny3]

I agree that where you live has an impact on your rates, as well as your age and driving record. Having said that, also consider the miles you plan to drive. We are with Auto Club and they base their rates on the number of miles driven on each car. That makes a difference as well as the amount of coverage. We also get a discount because we have our home insured as well through Auto Club. I find them to be very competitive. Your rate does seem to be high. I expect that if you shop around you should be able to find something in the ball part of $800 plus or minus per year.
Manny

 

[mark_rivers19]

I didn't think to shop insurance BEFORE I leased our RAV4 EV, then found that the premium is over $200/month! (Our Prius V is only $926/year, so $77/month) And they are crediting us for good driver discounts! My insurer (Liberty Mutual) tells me it's all due to the value of the vehicle. I assumed they were rating for the "unknowns" of battery fires, etc., but they say it's just the purchase price. Can anyone else tell me if this is in the ballpark? If anyone has experience with an insurer that's markedly less, please let me know the company. Apologies if I missed a thread on point, but I searched and didn't see any.

With a $500,000/1,000,0000 coverage
Liability and property damage.
We're paying $921/yr for the RAV4 EV. ( 4 cars in this policy so there's a multi car discount)
And an umbrella policy ( $10,000,000) with the same company.
Perfect driving record and a nice neighborhood ( you get lower rates for this)

Back to your case, i don't think it's the price of the car ALONE.
You'll be surprised that a $20,000 honda civic coupe is $150/month MORE vs a $50,000 Lexus RX 350.

AND I agree with the other members, too much variables to compare rates.

 

[DevinL]

I'm sure this thread will go on endlessly so here is the answer. We all pay more or less than each other. Shop many carriers, end of thread.

A controlled comparison has some value, i.e. my statement of my LEAF costing less than my RAV4 to insure. All other factors were the same (address, age, credit, driving history, etc) so this data could be useful.

It's helpful to get a rough idea of what other people pay, even if there are a large amount of variables, because it can help others choose which companies to shop around to first. There are too many insurance companies to shop them all. The state of Texas produces this list of insurance companies and cuts it off at 40. Getting an idea of where other owners are having a decent experience is useful.

 

[cossie1600]

Don't feel bad, I got raped by AMICA for my RAV4 too. I think it is around $150 per month, my old Lexus RX450h was like $110, Leaf was around there too

 

[smkettner]

$2,683 seems way high. I would shop around. I think mine is high at ~1,200.

 

[cwerdna]

A controlled comparison has some value, i.e. my statement of my LEAF costing less than my RAV4 to insure. All other factors were the same (address, age, credit, driving history, etc) so this data could be useful.

Yes.

Beyond that, comparisons between different people are basically pointless, unless you and the other person are the same age, live in the same zip code, have the same coverage, deductibles, same exact cars in the policy, marital status, credit rating/history, driving record/history, same usage and allowed miles/year, etc.

 

[Dsinned]

Rather pointless to be sure, but just to "stir the pot" a little, I'm a long time insured policy holder with Allstate and my premium for full coverage is just under $600/yr. Of course, I have ALL the standard discounts including, low annual miles, high deductibles, anti-theft equipment discount, homeowner coverage, and a clean driving record. For all three cars in my household (listed below), I pay a total of just over $1900/yr. It all balances out over time . . . over 20 years ago I nearly totalled a Corvette ZR-1 and Allstate paid over $17k in repairs! I'm surprised they didn't drop me, but over the lifetime of my insurance coverage, they have probably collected well over ten times that amount in total premium payments.