Need advice. My car is 15 years old this year, and my car insurance went up..

[AbuHossam]

The Question
…a little too much in my opinion. I shopped around and all the quotes are higher than what I used to pay, which was $60-70 a month. I don’t have tickets or accidents. Is it the age of my car? Should I carry full coverage still? I’m on BS3, just started. I’m lost on what coverage I should carry now.

ANSWER 1
First and foremost 'full coverage' is not a real thing.

The question you should ask is IF something happened to your vehicle how would it effect you?

Could you afford to get nothing and purchase a new to you vehicle? If the answer is no, I would carry Comprehensive and Collision as well as rental reimbursement.


ANSWER 2
I pay a little more than that per month for my car and renter’s insurance (for a single family house) combined through State Farm. I don’t have full coverage though as I’ve said. I’ve never really tried shopping around because I’ve budgeted this in.. however I did receive a mailer from a local Progressive agent in the area saying they could save me money.. with a higher quote.

It all depends on where you live, park, your age, etc too. I don’t think that’s too high IMO unless they’re asking for like $150 or something.


ANSWER 3
Car insurance is going up, regardless of the age of the vehicle. A five year old Brand X car will be more expensive than a 15 year old vehicle of the same brand. So, even though the driver has no accidents or tickets on their record, across the board insurance prices are going up. Rates are increasing because the cost to repair cars is getting more expensive. This was confirmed by a phone conversation with our insurance agent about 18 months ago. In my state (Washington), the Insurance Commissioner pushed through an edict that credit ratings could not be used by insurance companies as a thing in determining insurance rates. (Good credit got you a discount, poor credit didn't get you the discount.) He felt that this negatively impacted people with lower credit ratings and it wasn't fair. Our agent explained that the insurance companies do research and find that people with lower credit ratings typically have poorer driving records, getting more tickets and/or getting into more accidents. Less than a year later, the edict was dropped, and we saw a small decrease in our insurance rates. Not as big of a drop as the increase had been, but it did drop. What you should do with your insurance I'm not sure. However, look at paying six months at a time vs paying monthly....you'll pay less per six months period of time. Shop around to different companies. If you're a home owner already, look at bundling your car insurance with your home owners insurance....you'll get a discount. Good luck on figuring this out.



ANSWER 4
Where I live off your paying 60 to 70 that's a steal. A 15 year car full coverage you would pay more. Insurance like everything is going up... I dropped torque I have mine where each person is given like 100k in medical and I icky pay for mileage since I work from home . I have 2 cars and pay 112 monthly.