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Post by pattyraindrops on Mar 16, 2018 21:00:25 GMT
We had a 1999 elantra till today. We had just some liability insurance on it. Several weeks ago we bought another car and debated on what we were going to do with the old car. Anyway, today it has a new owner and our insurance went UP. I expected it to stay the same or maybe go down a couple of dollars, but not go up by $200 for 6 months! The idea is that if you have an old car then the insurance figures you will be driving it some of the time and now that you got rid of it you will be driving the new cars more.
The funny thing is that if we had kept the car then we would have had MORE driving because then my daughter would have taken one of the cars to school instead of the train like she does now.
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katybee
Drama Llama
Posts: 5,377 
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Post by katybee on Mar 16, 2018 21:16:28 GMT
We had a 1999 elantra till today. We had just some liability insurance on it. Several weeks ago we bought another car and debated on what we were going to do with the old car. Anyway, today it has a new owner and our insurance went UP. I expected it to stay the same or maybe go down a couple of dollars, but not go up by $200 for 6 months! The idea is that if you have an old car then the insurance figures you will be driving it some of the time and now that you got rid of it you will be driving the new cars more. The funny thing is that if we had kept the car then we would have had MORE driving because then my daughter would have taken one of the cars to school instead of the train like she does now. I would shop around for new insurance. I had an old car that I rarely (never) drove on mine, and when I donated it, my insurance went down the amount I was paying on it. |
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milocat
Drama Llama
Posts: 5,420
Location: 55 degrees north in Alberta, Canada
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Post by milocat on Mar 17, 2018 0:20:12 GMT
Ours would go down by whatever we were paying for that old car. Each vechile is listed by a seperate amount and isn't dependant on how many other vechiles we insure. Maybe it's different in Canada.
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Post by mrsscrapdiva on Mar 17, 2018 0:27:59 GMT
I know some companies offer a "multi car discount". If you only have one vehicle now, you probably lost that? But I would think that the new vehicle (what year is it?) would have a better rate because it has a lot more safety features than a vehicle manufactured in 1999. Also age of the driver can effect the insurance. If I were you I would shop around for other insurance.
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Post by crazy4scraps on Mar 17, 2018 0:32:13 GMT
Definitely shop around. We do anyway every couple years just to keep our agent on his toes.
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Post by megop on Mar 17, 2018 0:49:33 GMT
Did your state raise minimum liability requirements recently perhaps? Also, I'm thinking liability rates also involve the safety rating and claims data surrounding the car you replaced the Elantra with.
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Post by jamielynn on Mar 17, 2018 0:52:05 GMT
If you are only dropping the car and making no further adjustments, adding cars, updating daily mileage on existing cars on the policy; that is by no means normal or expected. I’d start pricing out like crazy and make an immediate move.
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melissa
Pearl Clutcher
Posts: 3,912
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Post by melissa on Mar 17, 2018 4:31:12 GMT
That is strange. We have added a new car, retaining the old ones, and the insurance did not change. It was set per vehicle. When we sold the third car, the insurance dropped only by the amount that we had on that one car.
Time to shop around!
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Post by pattyraindrops on Mar 17, 2018 5:24:46 GMT
Yes, I will be shopping around. I'm also thinking of calling them again and having them price it as if I were new. We really like this insurance as they have been so good with accidents. So easy to work with. I totally expected rates to go up with the accidents. I expected it to go up with a car that is newer and with comprehensive. It was just such a shocker to go up with removing the car - and no, I didn't understand this to be because of a multi car discount.
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sweetpeasmom
Pearl Clutcher
Posts: 2,577
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Post by sweetpeasmom on Mar 17, 2018 12:45:25 GMT
Yes, I will be shopping around. I'm also thinking of calling them again and having them price it as if I were new. We really like this insurance as they have been so good with accidents. So easy to work with. I totally expected rates to go up with the accidents. I expected it to go up with a car that is newer and with comprehensive. It was just such a shocker to go up with removing the car - and no, I didn't understand this to be because of a multi car discount. If you went from 2 cars to 1, you will see an increase because of multi vehicle discounts. Insurance isn't always cut and dry. The algarythms can make you scratch your head. |
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katybee
Drama Llama
Posts: 5,377
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Post by katybee on Mar 17, 2018 13:32:47 GMT
Yes, I will be shopping around. I'm also thinking of calling them again and having them price it as if I were new. We really like this insurance as they have been so good with accidents. So easy to work with. I totally expected rates to go up with the accidents. I expected it to go up with a car that is newer and with comprehensive. It was just such a shocker to go up with removing the car - and no, I didn't understand this to be because of a multi car discount. So I’m confused. Did the cost go up $200 from the cost of the old car alone or did it go up $200 from the price of the new car and the old car together? Because it would make perfect sense for the cost to be $200 more per 6 mos ($33/month) for the new car vs. the old car, seeing as how it is newer and you have full vs. liability only. If it was the second scenario, I’d get new insurance. |
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Kerri W
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Location: Kentucky
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Post by Kerri W on Mar 17, 2018 13:48:28 GMT
It may also be because you have a young driver. Ours went up once because they reassigned drivers on the cars and put our teen on a much nicer vehicle.
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Post by Flowergirl on Mar 17, 2018 14:21:44 GMT
We have three cars and two kids (19/22). DS22 was driving our old Camry until he bought his own car in January. Because he now lives out of state in a state our insurance company doesn’t underwrite, he is now off our policy and has his own. DD19 is away at college. Our insurance went up several hundred dollars because they assigned her as the primary driver of the car and she has only had her license for a couple years. Our agency (who is close family) carries several lines and shopped the best deal for us. Looking forward to DDs next birthday!
We had DD take an online defensive driving course our insurance agency offers. For $25 course fee, our premium on her is reduced by 20% annuallly and we get a discount for her good grades. They also took into consideration that she’s away at school most of the year. The car has the least value of all three of our cars and costs the most to insure. 😑
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psiluvu
Pearl Clutcher
Posts: 3,217
Location: Canada's Capital
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Post by psiluvu on Mar 17, 2018 14:28:38 GMT
That is strange. We just had our 2005 optra towed away by the junkers and our insurance went down $49.00/month We are still insuring a 2011 caravan and Sorrento so still get the multi car discount.
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Post by pattyraindrops on Mar 17, 2018 14:36:25 GMT
Yes, I will be shopping around. I'm also thinking of calling them again and having them price it as if I were new. We really like this insurance as they have been so good with accidents. So easy to work with. I totally expected rates to go up with the accidents. I expected it to go up with a car that is newer and with comprehensive. It was just such a shocker to go up with removing the car - and no, I didn't understand this to be because of a multi car discount. So I’m confused. Did the cost go up $200 from the cost of the old car alone or did it go up $200 from the price of the new car and the old car together? Because it would make perfect sense for the cost to be $200 more per 6 mos ($33/month) for the new car vs. the old car, seeing as how it is newer and you have full vs. liability only. If it was the second scenario, I’d get new insurance. We had 2 cars and then got a new car and the insurance went up $500 (new car, comprehensive and now had an accident on the record). Totally expected that. Then we got rid of the oldest of the 3 cars and the insurance went up again another $200. |
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GiantsFan
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Jun 27, 2014 14:44:56 GMT
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Post by GiantsFan on Mar 17, 2018 16:04:16 GMT
If you're in California then it's not you. Rates have increased overall. My homeowners increased 31% this year! The increases for the prior five years were between 3% and 8% . I called my insurance company to ask why they said it was "approved by the CA insurance commissioner" due to the value of homes have increased, the recent CA wildfires and get this - their software changed and it charges more. I told her I wanted the old software back.
And she said it's not only HO insurance she said to be prepared for at least a 7% increase in our auto policy renewal.
ETA: We will be shopping for other insurance, but unfortunately family issues put this on the back-burner for now.
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