$8712/year for insurance (auto, home, rental) How to reduce?

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
Post Reply
User avatar
sunny_socal
Posts: 1662
Joined: Tue Mar 24, 2015 4:22 pm

$8712/year for insurance (auto, home, rental) How to reduce?

Post by sunny_socal » Tue Jul 31, 2018 10:18 am

So... I just moved from CA to TX. I understood from all my sources that "Living in TX is _much_ cheaper than Cali!" In my experience thus far the situation is actually quite the opposite. Gas is cheaper and there is no state tax, but practically everything else is either the same or more expensive. But let's talk about insurance for a moment.

Called USAA this morning to change our address, was expecting a drop in premiums based on some web 'estimates' I had done before for insurance and cost of living.

California:
- $750/year for homeowners
- $4000/year for four vehicles
- $430/year for valuables
- Monthly: $395

Texas:
- $900/year for fire insurance (kept our old home as a rental)
- $1700/year for homeowners
- $6000/year for four vehicles
- $112/year for valuables (I reduced the coverage here to save $$)
- Monthly: $726

That's $330/month more! I'm feeling "shock and awe" right now :shock:

It might even be more. I had difficulty getting a straight answer out of the customer service rep because she worked primarily on auto policies and had to keep asking someone else for the quotes on the homeowners side.

Ugh. Is this "normal" for Texas? And what on earth will happen when my 16-yo son starts driving? IMO this is a lot of money to be spending on insurance.

Any ideas? This move is turning out to be a bit of a disaster.

Thanks

User avatar
Pajamas
Posts: 6015
Joined: Sun Jun 03, 2012 6:32 pm

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by Pajamas » Tue Jul 31, 2018 10:27 am

Doesn't a lot of it have to do with your ZIP code and the difference in risk?

Here's an older article that addresses why property insurance is so expensive in Texas:

https://www.opic.texas.gov/images/Why_I ... ensive.pdf

An internet search shows that automobile coverage may be higher because of more miles driven, more uninsured motorists, higher rates of drunk and reckless driving, and similar issues. In other words, more risk, more claims.

Rupert
Posts: 3662
Joined: Fri Aug 17, 2012 12:01 pm

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by Rupert » Tue Jul 31, 2018 10:30 am

What part of Texas are you in? If in an area impacted by hurricanes, e.g., Houston area, $1700/year for homeowners is quite typical.

Wellfleet
Posts: 484
Joined: Sun Jan 26, 2014 8:18 pm

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by Wellfleet » Tue Jul 31, 2018 10:31 am

Have you sought three quotes for coverage? Maybe USAA has higher risk in Texas and charges more. When first starting out, spouse and I had the inlaws brand insurance in the same metro. Once I shopped it I realized we were paying a crazy premium over them. Switched to Metlife then Geico and saved a ton.

User avatar
deanbrew
Posts: 1277
Joined: Wed Jul 21, 2010 12:05 pm
Location: The Keystone State

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by deanbrew » Tue Jul 31, 2018 10:31 am

Any ideas? This move is turning out to be a bit of a disaster.
I'm assuming your idea of "a disaster" involves more than insurance?

In any event, write up a list of insurance needs and email to a bunch of insurance agents near you. In addition to the captive companies (Geico, Allstate, State Farm, etc.), send it to a couple of independent agents who can look at several insurance companies. Listen to any advice they have and collect the quotes. I've heard that USAA is supposed to be good, but it doesn't hurt to check around.

Prepare a spreadsheet that has your cars (year, make, model, mileage, VIN), house (address, size, year built, etc.) and anything else I think might be pertinent. That information is needed to provide an accurate quote. I get several quotes every two or three years to make sure my insurance cost is reasonable.

$6,000 a year for four vehicles sounds very high, especially if you don't have kids driving yet.
"The course of history shows that as the government grows, liberty decreases." Thomas Jefferson

chevca
Posts: 1908
Joined: Wed Jul 26, 2017 11:22 am

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by chevca » Tue Jul 31, 2018 10:34 am

My idea would be... hurricanes. Being in TX now, you're probably paying for all the recent hurricane damage last year. Tends to be part of the deal... we all insure each other in a way.

Do you have a much larger house now?

The "fire insurance" you need to carry on the rental is almost always going to be more expensive than just homeowners on the same place. That seems right in line for that part.

soccerrules
Posts: 803
Joined: Mon Nov 14, 2016 4:01 pm

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by soccerrules » Tue Jul 31, 2018 10:39 am

Can't comment as I have only lived in Texas.

All I can say is shop. USAA is not known for being "less expensive". I think great customer service, though

I would remove your $900/ year coverage on your CA home to compare apples to apples.

Texas has a 1% deductible on homeowners (1% of appraised home value). Not sure if that is the same in CA

Home -- seems low to me at a glance.
Don't let your outflow exceed your income or your upkeep will be your downfall.

User avatar
sunny_socal
Posts: 1662
Joined: Tue Mar 24, 2015 4:22 pm

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by sunny_socal » Tue Jul 31, 2018 10:40 am

We're in Austin. There are no tornadoes, forest fires or hurricanes here but people have told me that once in a while (every 20 years) there will be storm with hail the size of golf balls. (Up in Dallas that hail can be baseball size....)

And planning on buying a house in Dripping Springs, 25 miles south west of Austin. I thought insurance would be somewhat less than "in the city", but it's actually even worse!

Could an umbrella policy actually be used instead of individual auto/home policies? I tried to apply for one a couple years ago but I had an accident that prevented me from qualifying :(

Guess I'll need to shop around.

bloom2708
Posts: 4803
Joined: Wed Apr 02, 2014 2:08 pm
Location: Fargo, ND

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by bloom2708 » Tue Jul 31, 2018 10:43 am

Is that 4 vehicles with full coverage? What are your deductibles for each?

You need to shop some different companies.

www.cinfin.com

The search on the front page here will lead you to independent agents in your market that can shop multiple carriers.

Now is the time to look at coverage, your ability to increase deductibles, do you have a seldom driven car with lower value that can be "liability only"?
Where to spend your time: | 1. You completely control <--spend your time here! | 2. You partially control <--spend your time here! | 3. You have no control <--spend no time here!

chevca
Posts: 1908
Joined: Wed Jul 26, 2017 11:22 am

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by chevca » Tue Jul 31, 2018 10:45 am

sunny_socal wrote:
Tue Jul 31, 2018 10:40 am
Could an umbrella policy actually be used instead of individual auto/home policies? I tried to apply for one a couple years ago but I had an accident that prevented me from qualifying :(
Instead of? Nope. Umbrella is used in addition to, or to cover above what your auto/home policies would cover.

Have you not even bought the new house yet? It's just an estimate at this point then. Not a real good comparison.

User avatar
Pajamas
Posts: 6015
Joined: Sun Jun 03, 2012 6:32 pm

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by Pajamas » Tue Jul 31, 2018 11:00 am

sunny_socal wrote:
Tue Jul 31, 2018 10:40 am
We're in Austin. There are no tornadoes,
What? Austin is not a hot spot for tornadoes but it certainly gets its share including some that caused a lot of deaths and damage. Flooding and wildfires are also a problem in that area but your exact location might not be affected by them.

runner540
Posts: 739
Joined: Sun Feb 26, 2017 5:43 pm

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by runner540 » Tue Jul 31, 2018 11:05 am

OP, hopefully you are also aware that property taxes as a % of value are higher than in CA, and that there is no Prop 13 to limit property tax increases. Values have shot up in Texas, and taxes with them.

User avatar
sunny_socal
Posts: 1662
Joined: Tue Mar 24, 2015 4:22 pm

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by sunny_socal » Tue Jul 31, 2018 1:26 pm

Called the insurance co and raised my deductibles, also removed comprehensive & collision on a couple older vehicles. Total annual bill is now $8k. Better than before, I suppose :|

I do have a couple 'incidents' on my driving record that do not help the situation:
- Cell phone ticket in 2014 that was not added to my insurance record until 2016
- Two minor accidents in 2016. Very little damage but they are on my record nonetheless.
- These all appear in a cluster such that they will "drop off" on 9/1/2019

*Sigh* Must pay the piper, no way around it.
Last edited by sunny_socal on Tue Jul 31, 2018 1:52 pm, edited 1 time in total.

chevca
Posts: 1908
Joined: Wed Jul 26, 2017 11:22 am

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by chevca » Tue Jul 31, 2018 1:37 pm

sunny_socal wrote:
Tue Jul 31, 2018 1:26 pm
Total annual bill is now $8. Better than before, I suppose :|
I'd say $8/year is a heck of a deal! :happy

Jack FFR1846
Posts: 7808
Joined: Tue Dec 31, 2013 7:05 am

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by Jack FFR1846 » Tue Jul 31, 2018 1:50 pm

Add to what you had in California:

An out of state rental home.
Your high risk driving has caught up to haunt you.

I assume the good news is that in Austin, you can get a much bigger house for much less than in California. The bad news is that as a % of value, Texas is Taxus.
Bogle: Smart Beta is stupid

ebrasmus21
Posts: 224
Joined: Tue Nov 29, 2016 6:06 pm

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by ebrasmus21 » Tue Jul 31, 2018 1:54 pm

CA has fires and earthquakes (which are excluded unless you buy EQ coverage).

Texas has fires, wind, hail, tornadoes, hurricanes, lightning. In other words, the weather (and weather related claims) are much more severe in Texas compared to CA. All this equals more expensive insurance.

User avatar
jharkin
Posts: 1824
Joined: Mon Mar 28, 2016 7:14 am
Location: Boston suburbs

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by jharkin » Tue Jul 31, 2018 1:56 pm

hahahaha... I feel your pain OP... I always get a chuckle of people in "LCOL" states having such high expense. I pay about $2k a year for insurance in Mass, but then again I have only 2 cars and no rental prop.

What is the valuation of the home? Can you shop around to Geico, Amica, etc to see if you get a better rate?
What about the car insurance... do you have some really high value/high risk cars? is it a high theft area ? or teenage drivers in the household ?

User avatar
willthrill81
Posts: 5834
Joined: Thu Jan 26, 2017 3:17 pm
Location: USA

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by willthrill81 » Tue Jul 31, 2018 2:06 pm

Well you're paying to insure two properties now instead of one. The $900 you're spending on your old property is part of the rental equation and should not be used as a point of comparison.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings

User avatar
Toons
Posts: 12970
Joined: Fri Nov 21, 2008 10:20 am
Location: Hills of Tennessee

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by Toons » Tue Jul 31, 2018 2:09 pm

Sell something or some things.
:happy
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee

researcher
Posts: 614
Joined: Thu Mar 12, 2015 7:05 pm

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by researcher » Tue Jul 31, 2018 2:11 pm

sunny_socal wrote:
Tue Jul 31, 2018 10:18 am
California:
- $750/year for homeowners, $4000/year for four vehicles, $430/year for valuables
- Monthly: $395

Texas:
- $900/year for fire insurance, $1700/year for homeowners, $6000/year for four vehicles, $112/year for valuables
- Monthly: $726

That's $330/month more! I'm feeling "shock and awe" right now
First off, your calculated monthly California costs are wrong.
Your costs (750+4000+430/12) are really $432/mo, not $395/mo.

Secondly, you are not comparing apples to apples, as you've added an extra insurance type for Texas.
In order to properly compare to California, your Texas insurance cost (excluding fire) would be $651, not $726.

lukestuckenhymer
Posts: 60
Joined: Wed May 30, 2018 11:53 am

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by lukestuckenhymer » Tue Jul 31, 2018 2:12 pm

sunny_socal wrote:
Tue Jul 31, 2018 1:26 pm
Called the insurance co and raised my deductibles, also removed comprehensive & collision on a couple older vehicles. Total annual bill is now $8k. Better than before, I suppose :|

I do have a couple 'incidents' on my driving record that do not help the situation:
- Cell phone ticket in 2014 that was not added to my insurance record until 2016
- Two minor accidents in 2016. Very little damage but they are on my record nonetheless.
- These all appear in a cluster such that they will "drop off" on 9/1/2019

*Sigh* Must pay the piper, no way around it.
That'll do it. I got two tickets last year (one speeding, one accidentally turning the wrong-way down a one-way street) and next month I lose my "California good driver" discounts and my premiums double from $160/month to $320/month. I lowered my coverage from 250/500k to 100/300k liability and removed Collision coverage (at least til I can get a discount back). *Sigh*, indeed.

OnTrack2020
Posts: 278
Joined: Mon Mar 20, 2017 10:24 am

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by OnTrack2020 » Tue Jul 31, 2018 2:47 pm

For $6,000 a year for auto, you should have at least 4 to 5 teenagers driving. :D

User avatar
greg24
Posts: 3230
Joined: Tue Feb 20, 2007 10:34 am

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by greg24 » Tue Jul 31, 2018 2:49 pm

Four vehicles is a lot. Reduce your number of vehicles.

User avatar
sunny_socal
Posts: 1662
Joined: Tue Mar 24, 2015 4:22 pm

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by sunny_socal » Tue Jul 31, 2018 3:05 pm

greg24 wrote:
Tue Jul 31, 2018 2:49 pm
Four vehicles is a lot. Reduce your number of vehicles.
I could do that I guess.

Vehicle1 = Wife
Vehicle2 = Me (truck, for weekends)
Vehicle3 = Me (sedan, commuter car)
Vehicle4 = Teen son (wife's old car)

I plan on keeping Vehicle3 for my other son who will start driving in a couple years.

I haven't yet checked on what it will cost to insure my current teen, he's still on his driving permit and thus not on any policy.

Yellowjacket1
Posts: 42
Joined: Sat Jul 28, 2018 2:54 pm

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by Yellowjacket1 » Tue Jul 31, 2018 3:15 pm

Check out Auto Owners via an independent insurance agent. We are not in Texas, but in Georgia. For the last 4 years, Auto Owners have been cheaper than any other insurance company I compared them to including USAA.

Claims and customer service have been good as well.

GAAP
Posts: 591
Joined: Fri Apr 08, 2016 12:41 pm

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by GAAP » Tue Jul 31, 2018 3:18 pm

Sometimes, an old vehicle is more expensive to insure than a new vehicle -- especially if it's a vehicle class that was able to avoid/delay a lot of the safety features over the years (trucks, for example). Combine that with "incidents" and a teenager, and things can get pricey...

denovo
Posts: 4360
Joined: Sun Oct 13, 2013 1:04 pm

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by denovo » Tue Jul 31, 2018 3:19 pm

sunny_socal wrote:
Tue Jul 31, 2018 10:18 am
So... I just moved from CA to TX. I understood from all my sources that "Living in TX is _much_ cheaper than Cali!" In my experience thus far the situation is actually quite the opposite. Gas is cheaper and there is no state tax, but practically everything else is either the same or more expensive. But let's talk about insurance for a moment.

=

Any ideas? This move is turning out to be a bit of a disaster.

Thanks
The answer is the same no matter what state you live in. You shop 4-6 reputable companies online by accurately entering in your information. Not just using a shortcut and transferring from your CA provider without shopping around.

Update us when you have done this.
"Don't trust everything you read on the Internet"- Abraham Lincoln

new2bogle
Posts: 1341
Joined: Fri Sep 11, 2009 2:05 pm

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by new2bogle » Tue Jul 31, 2018 3:20 pm

You need to change from "sunny_socal" to "sunny_soco". But I bet the sun here is >> warmer than socal.

I would check with Amica. Back a few years ago, I switched to them (from State Farm) as they were the cheapest I could find (also in Austin). I've got primary house, rental house, two cars, umbrella and wedding ring and pay ~$380/month (which includes two at fault accidents by DW). The teenage son is causing your rates to be so high most likely.

Charon
Posts: 73
Joined: Thu May 03, 2018 12:08 pm

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by Charon » Tue Jul 31, 2018 6:31 pm

greg24 wrote:
Tue Jul 31, 2018 2:49 pm
Four vehicles is a lot. Reduce your number of vehicles.
+1

When I was a teenager we got a call from USAA (our insurer too) to verify that they had the correct information. "Three drivers in the household and one car?"

One thing to keep in mind about where to live (in Austin or in the suburbs) is that if you live in the city, your teenagers don't need cars. Public transportation and biking get you where you need to go. (Potentially you and your wife too, not just the kids!) Not so true in the suburbs, particularly sprawling ones built for cars, or isolated nothingburgs like Dripping Springs. For my first 15 years of adulthood I lived in various cities (not all big) with good public transportation and biking routes, and didn't own a car. Now I live in a rural area, but still bike and only put about 4k miles/year on my car, which helps keep the insurance cost down.

Bacchus01
Posts: 1832
Joined: Mon Dec 24, 2012 9:35 pm

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by Bacchus01 » Tue Jul 31, 2018 9:33 pm

Those rates seem low to me, and I live in Wisconsin.

Oddball
Posts: 31
Joined: Thu May 03, 2018 9:35 am

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by Oddball » Tue Jul 31, 2018 10:36 pm

I recently changed my insurance. Had been with state farm for about 20 years. They were charging us $1100 for homeowners per year and $860 for auto every 6 months. Called progressive and for comparable coverage as with state farm the homeowners was about $20 a year more, but auto dropped to $260 per 6 months. Saved us over a grand a year for just one vehicle!

jminv
Posts: 549
Joined: Tue Jan 02, 2018 10:58 pm

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by jminv » Wed Aug 01, 2018 3:20 am

I saw that you changed your deductibles and coverage. I would change insurers before I did that. You should really get comparison quotes. Usaa is usually not the cheapest, despite what people think of them. They can sometimes be a lot more. I recently switched someone in Texas from auto with them (and a driving record) and cut costs 30%. Their homeowners was also uncompetitive. Lot of people really don’t want to leave them because of the history they have with them but sometimes that history/image/connection is a way to keep people from defecting for better prices. They also focus on the service and claims angle for that reason. In my own family, I have two close relatives that are life long usaa policy holders because of this despite there being better deals out there.

Your California rental insurance doesn’t belong in your analysis of your Texas costs. It belongs in your analysis of your California rental units profitability.

Austin gets weather. Not sure what makes you think they don’t. You say you are moving to dripping springs - check a flood map before you pick a place since sounds like you didn’t do this in Austin. Travis county is the top 10% nationally for flood damage prone communities. If you pick a place in a flood zone (don’t) you should consider getting flood insurance.

I assume you know about Texas property taxes. Texas is generally cheaper than California, especially if you’re a higher earner who lives in a smaller house and/or area with lower property taxes. Also beneficial if you have capital gains. If you’re looking for something with some land, look into getting a place that’s ag exempt to save on the property taxes. Read up on and file for homestead property tax exemption when you’re able to save some money If you are over 65, have a disabled veterans rating, or are otherwise disabled, file for those exemptions too.

aqan
Posts: 417
Joined: Fri Nov 06, 2015 7:07 am

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by aqan » Wed Aug 01, 2018 5:36 am

Reminds me of my move from NJ to CT years ago. NJ auto insurance is sky high and I was hoping to get a break when we moved to CT but when I called liberty to change the address my rate almost doubled. I hung up and called Geico and they offered me a nice 25% (or so) discount over my rate in NJ.

I'd just call another insurance company maybe USAA doesn't really want to do business in TX.

User avatar
sunny_socal
Posts: 1662
Joined: Tue Mar 24, 2015 4:22 pm

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by sunny_socal » Wed Aug 01, 2018 10:20 am

aqan wrote:
Wed Aug 01, 2018 5:36 am
Reminds me of my move from NJ to CT years ago. NJ auto insurance is sky high and I was hoping to get a break when we moved to CT but when I called liberty to change the address my rate almost doubled. I hung up and called Geico and they offered me a nice 25% (or so) discount over my rate in NJ.

I'd just call another insurance company maybe USAA doesn't really want to do business in TX.
Don't think that's the case, I think they are based in TX.

- I'll get some more quotes once life settles down
- I'll get even more quotes in a year, once my accident 'points' have dropped off the radar

Last time I called Geico it first seemed I was going to save 30% over USAA. Once they saw my accidents the rate went up 30% _over_ USAA. I think GEICO can offer good rates because they weed out bad drivers. (Like me... I suppose)

My teens will need to drive as well since we'll be living in the "nothingburg" of Dripping Springs :wink:

User avatar
sunny_socal
Posts: 1662
Joined: Tue Mar 24, 2015 4:22 pm

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by sunny_socal » Thu Aug 09, 2018 2:43 pm

Got a quote from Allstate today:
- All vehicles: $1966 for 6 months
- Home: $1164/year

That brings it very close to what I was paying in California! Now I'll just have to convince my wife that it's ok to switch insurance companies (she's completely sold on USAA since that's what her parents have... :annoyed )

megabad
Posts: 602
Joined: Fri Jun 01, 2018 4:00 pm

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by megabad » Thu Aug 09, 2018 3:22 pm

I'm glad you got another quote. Your auto looked outrageous but I do not know the impact of so many points (have none). That said, I have never seen that much variation in quotes before without a severe change in coverage/deductibles.

ebrasmus21
Posts: 224
Joined: Tue Nov 29, 2016 6:06 pm

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by ebrasmus21 » Thu Aug 09, 2018 3:30 pm

It's only going to get worse, you guys. Rates were too low for too long.

ebrasmus21
Posts: 224
Joined: Tue Nov 29, 2016 6:06 pm

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by ebrasmus21 » Thu Aug 09, 2018 3:33 pm

It's only going to get worse, you guys. Rates were too low for too long.

RobLyons
Posts: 74
Joined: Tue Oct 31, 2017 12:55 pm

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by RobLyons » Thu Aug 09, 2018 3:43 pm

Have teen son start paying a small portion of his insurance. Try quotes from geico or progressive. Up here they smoke the competition.

User avatar
sunny_socal
Posts: 1662
Joined: Tue Mar 24, 2015 4:22 pm

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by sunny_socal » Thu Aug 09, 2018 3:53 pm

RobLyons wrote:
Thu Aug 09, 2018 3:43 pm
Have teen son start paying a small portion of his insurance. Try quotes from geico or progressive. Up here they smoke the competition.
Will do that, after my accidents drop off in 2019.

One lesson I've learned: If involved in a minor accident with no injury, offer to settle with cash if possible. Anything is cheaper than going through the insurance hit!

RobLyons
Posts: 74
Joined: Tue Oct 31, 2017 12:55 pm

Re: $8712/year for insurance (auto, home, rental) How to reduce?

Post by RobLyons » Thu Aug 30, 2018 7:58 am

sunny_socal wrote:
Thu Aug 09, 2018 3:53 pm
RobLyons wrote:
Thu Aug 09, 2018 3:43 pm
Have teen son start paying a small portion of his insurance. Try quotes from geico or progressive. Up here they smoke the competition.
Will do that, after my accidents drop off in 2019.

One lesson I've learned: If involved in a minor accident with no injury, offer to settle with cash if possible. Anything is cheaper than going through the insurance hit!
Absolutely! The one time I had an at-fault accident, other driver was very kind to get quotes before deciding out of pocket vs insurance. Quote was much higher than originally thought, so insurance it was. But you're right, over time, it would have been cheaper to pay it in cash!

Post Reply