Car Insurance

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Brantley
Posts: 376
Joined: Mon Dec 03, 2012 12:02 am

Car Insurance

Post by Brantley »

Hey all,

I don't see much information in either the blog or forum regarding car insurance. I'm in my mid twenties, live in the Boston area, drive a late 2000's Japanese compact, park in a garage, and have a clean driving record. I pay $105 a month with Norfolk and Dedham which I obtained through a local insurance agent. See my insurance policy linked below. Let me know your thoughts!

http://tinypic.com/r/175zxj/8
~Brantley
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Kenkat
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Joined: Thu Mar 01, 2007 10:18 am
Location: Cincinnati, OH

Re: Car Insurance

Post by Kenkat »

Probably the only way to tell for sure is to shop around a little to get some comparison pricing. It looks like your yearly premium is $1,045 which doesn't jive with $105 a month. Make sure you are not paying extra for monthly billing if you can afford to just write a check once a year.

Your policy limits look pretty typical and appropriate to me and the premium seems reasonable.
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mmmodem
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Re: Car Insurance

Post by mmmodem »

I would increase collision & comprehensive deductible to the highest. If you have a late 2000's model vehicle, I would assess getting rid of it altogether. This depends on the value of your vehicle being low enough for you to self insure.
sport
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Location: Cleveland, OH

Re: Car Insurance

Post by sport »

If you have your auto policy and your homeowners/renters policy with the same company, you may be eligible for discounts on both policies.
takeshi
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Re: Car Insurance

Post by takeshi »

kenschmidt wrote:Probably the only way to tell for sure is to shop around a little to get some comparison pricing.
This. Even accounting for all of the many variables involved one still has to shop around and compare.
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midareff
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Location: Biscayne Bay, South Florida

Re: Car Insurance

Post by midareff »

takeshi wrote:
kenschmidt wrote:Probably the only way to tell for sure is to shop around a little to get some comparison pricing.
This. Even accounting for all of the many variables involved one still has to shop around and compare.

Very true. I had Liberty Mutual for several decades and decided to quote a few others when rates for a new car seemed excessive. ... ($2600). Hartford was $1400 and change and so was another, State Farm I think. I called Liberty back and they decided they could rewrite the policy for $1400 and change. My last call was to Geico who offered the same policy limits as the others for $880 annually. You just have to call around. BTW, if you have really great medical insurance PIP and un/under insured motorists may not be for you.
Vermonster
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Re: Car Insurance

Post by Vermonster »

Since you appear to be in Massachusetts, be sure and include Commerce Insurance with the discount from AAA in your search. For our family, the cost plus AAA membership is a wash with the next cheapest--but at least we get AAA membership which can be helpful.

Agree with other comments that you should assess pricing with a higher deductible.

Make sure you do not qualify for a low mileage discount (for example if you work close to home or use public transport and keep miles per year under 10K or even 5K)

Also, let me just advise the most important thing you can do going forward is to maintain that step 99 rating. My wife recently made two small "mistakes"; these will cost us $400+ PER YEAR for the next 5 years.

EW
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FuyuKei
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Location: San Jose, CA

Re: Car Insurance

Post by FuyuKei »

General car insurance tips:

Shop around. Last time I did this a few months ago I got my boyfriend's payments down to $70 less than they were. He could have gotten it cheaper as he got older but never shopped around.

If you can afford it, pay the 6 months in advance. You can frequently get a discount for paying in advance. Mine is $10 off per month, netting me an extra $60.

Other discounts Just call them and ask or poke around their website, but you can get discounts for taking defensive driving courses, low mileage, student, not drinking, going to church, getting older, being a flying purple people eater, etc...
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ejvyas
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Location: Boston, MA

Re: Car Insurance

Post by ejvyas »

FuyuKei wrote:not drinking, going to church, being a flying purple people eater, etc...
Are you serious?
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ejvyas
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Joined: Sat Apr 30, 2011 12:09 am
Location: Boston, MA

Re: Car Insurance

Post by ejvyas »

Vermonster wrote:Since you appear to be in Massachusetts, be sure and include Commerce Insurance with the discount from AAA in your search. For our family, the cost plus AAA membership is a wash with the next cheapest--but at least we get AAA membership which can be helpful.

Agree with other comments that you should assess pricing with a higher deductible.

Make sure you do not qualify for a low mileage discount (for example if you work close to home or use public transport and keep miles per year under 10K or even 5K)

Also, let me just advise the most important thing you can do going forward is to maintain that step 99 rating. My wife recently made two small "mistakes"; these will cost us $400+ PER YEAR for the next 5 years.

EW
Test GEICO too. I for good rates from GEICO in MA
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FuyuKei
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Location: San Jose, CA

Re: Car Insurance

Post by FuyuKei »

ejvyas wrote:
FuyuKei wrote:not drinking, going to church, being a flying purple people eater, etc...
Are you serious?
Yep! Well, not about the flying purple people eater discount. :P

But it really depends on the company. I once signed a stack of papers that said I just never drink due to religious or moral reasons, and they then gave me a $5/month discount. My agent was weighing this against another company that had a "I go to church" discount from some very religious based insurance company.

I also used to work from home so I got a discount for my car not being used for work/low mileage.
Jack FFR1846
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Re: Car Insurance

Post by Jack FFR1846 »

Ask your agent for all the things that will help discount. I have Commerce through my independent and am in the process of getting my son's car on the road. We saved $900 by doing a bunch of "nothing" things. Paid in full in advance, electronic documents, AAA member, good student discount.
Bogle: Smart Beta is stupid
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midareff
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Location: Biscayne Bay, South Florida

Re: Car Insurance

Post by midareff »

Jack FFR1846 wrote:Ask your agent for all the things that will help discount. I have Commerce through my independent and am in the process of getting my son's car on the road. We saved $900 by doing a bunch of "nothing" things. Paid in full in advance, electronic documents, AAA member, good student discount.
Paying in full on 2 percent cash back ard adds a couple buvks off.
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