Unusually High Insurance Premium

[Twain427]

Curiously, does anyone feel like their insurance premium is a bit high???

I have good credit, no accident/tickets/points on my record, defensive driving course and multi-car discount yet my monthly premium is right around $200 with any provider I select. I finally had one agent say the Genesis scores very poorly on some chart of insurance variables and stats all providers pull data from. It's almost double what I paid monthly for my 2010 Genesis.

 

[GarnetTy1473]

Curiously, does anyone feel like their insurance premium is a bit high???

I have good credit, no accident/tickets/points on my record, defensive driving course and multi-car discount yet my monthly premium is right around $200 with any provider I select. I finally had one agent say the Genesis scores very poorly on some chart of insurance variables and stats all providers pull data from. It's almost double what I paid monthly for my 2010 Genesis.

That seems high. I just paid $536 to State Farm for my G90 5.0 for 6 months. The AWD did drop the premium a little bit too, which you don't have.

 

[waz]

That seems high. I just paid $536 to State Farm for my G90 5.0 for 6 months. The AWD did drop the premium a little bit too, which you don't have.

I guess one benefit of living in western North Carolina (besides the curvy mountain roads and great scenery) is low insurance rates.

I'm paying $516 annually for full coverage ($500 deductable) on my '15 3.8 Ultimate.

It all depends on where you live.

 

[Mark_888]

That seems high. I just paid $536 to State Farm for my G90 5.0 for 6 months. The AWD did drop the premium a little bit too, which you don't have.

A G90 owner is likely to be a completely different kind of driver than a G80 5.0 driver, on average. Also, a G90 owner is probably statistically more likely to store the car in a garage, resulting in less theft and vandalism.

I suspect that the rates for 2015 G80 3.8 in OKC are a lot lower than $200 per month.

 

[BlancaGenny]

Mine is also a bit high. $192/month. That's with 5 discounts applied. Ouch

 

[mjbuck]

Try living in Michigan. We've had the highest insurance rates in the USA for 6 years in a row. Not just a few dollars higher, waaaaaaaaaay higher.

 

[Mark_888]

I guess it is a good idea to ask your insurance agent about the cost of insurance for various different cars before purchasing. I don't know if there is a big difference between the G80 and other similar cars.

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Mine is also a bit high. $192/month. That's with 5 discounts applied. Ouch

Since I only drive about 2500-3000 miles a year (if I take two trips to visit my family), that means my insurance cost alone would be about $0.75 a mile.

 

[GarnetTy1473]

A G90 owner is likely to be a completely different kind of driver than a G80 5.0 driver, on average. Also, a G90 owner is probably statistically more likely to store the car in a garage, resulting in less theft and vandalism.

I suspect that the rates for 2015 G80 3.8 in OKC are a lot lower than $200 per month.

I was going back and forth between the G90 and G80 Sport. Insurance on the G80 Sport was only $20 cheaper over 6 months.

 

[BlancaGenny]

I guess it is a good idea to ask your insurance agent about the cost of insurance for various different cars before purchasing. I don't know if there is a big difference between the G80 and other similar cars.

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Since I only drive about 2500-3000 miles a year (if I take two trips to visit my family), that means my insurance cost alone would be about $0.75 a mile.

I try to stay under 12k/year. I visit Ohio probably every other month in which I usually fly. Rapid City Regional ticket prices are absurb but that's "regional" prices for ya. If I drive to Ohio, it usually comes to 15k/year.

 

[RyanB]

I work at State Farm and I have mine insured with $250,000/$500,000 Liability $10,000 medical, a zero comprehensive deductible, $250 collision deductible and $50 a day rental for $72 a month. Oklahoma does have some of the highest Auto Insurance rates around per my rate manual. Don’t know is this is valid for all states but with State Farm here in IL you can request for your policy to be rerated using your current credit score vs the score you had when the policy was issued. For people who improved their score since purchasing the policy this can lower their rates however it can also raise your rate if your credit score has declined since purchasing the policy.

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[Mark_888]

I work at State Farm and I have mine insured with $250,000/$500,000 Liability $10,000 medical, a zero comprehensive deductible, $250 collision deductible and $50 a day rental for $72 a month. Oklahoma does have some of the highest Auto Insurance rates around per my rate manual. Don’t know is this is valid for all states but with State Farm here in IL you can request for your policy to be rerated using your current credit score vs the score you had when the policy was issued. For people who improved their score since purchasing the policy this can lower their rates however it can also raise your rate if your credit score has declined since purchasing the policy.

Are you sure you are not getting some kind of employee discount?

 

[dareckibmw]

I'm insured in State Farm and I pay ~$100 a month for '15 5.0 and we live in south/west burbs of Chicago.

 

[batmanmiami1]

I'm with USAA. After totaling my Audi S5 I went with about the highest coverage offered. Ended up at $198mo (2376yr) $1000 deductible which really isn't that bad since I live in Dade County Fl where I doubt even half the drivers have any insurance for more then a couple of months at a time. The guy that totaled my S5 no license, no insurance & speeding, and I was found at fault. Don't you just love the new Politically Correct America. Living in Tornado land might have something to due with your rates, not to mention 5.0 powerhouse.

 

[Gigantor]

I was surprised when I got my Genesis a couple months ago. Sounds like my rate is pretty normal.

2015 Hyundai Genesis 5.0 Ultimate
Geico
Comp Deduct - $100
Collision Deduct - $500
Six Month Premium - $524.69

 

[Scooby]

My 16 Genesis 3.8 w/tech and signature pkg with $1,000 deductible is $481.77 for 6 months through Allstate in Raleigh NC. I have 5 cars on policy and also have my homeowners policy with them.

 

[homeofstone]

To OP check with Auto Owners Ins. or Central Insurance ? if they write it in your state.

 

[POG]

$60 a month with Farmers Insurance in Austin, TX. Full coverage, $500 deductible. Shop around... I usually bounce between Farmers and Ameriprise (Costco) every couple of years when they try to jack up the rates.

 

[lt2211]

I guess one benefit of living in western North Carolina (besides the curvy mountain roads and great scenery) is low insurance rates.
I'm paying $516 annually for full coverage ($500 deductable) on my '15 3.8 Ultimate.

It all depends on where you live.

Wow $516 yearly??? that is low...Where do you find an agent willing to write a yearly policy??? Haven't seen that around here for years, everything is 6 months or less. I pay $727 each 6 months, to cover two cars, my 2018 G80 3.8 AWD Ultimate and my wife's 2017 Honda Fit EXL Navi. $250,000/$500,000 Liability, $1000 deductible on both. The G80 is $474.77/ 6 months. I don't think there is anything about the car that should cause an unusually high rate. To the contrary, all the safety features and the recent top 15 safety rating, probably result in discounts. I should note, I live in a small village in far northern Illinois. 90 miles from Chicago, 77 miles from Milwaukee and 60 Miles from Madison, WI. None of the big city effects, on the insurance rate.

 

[verwey83]

34 years old squeaky clean record, '15 5.0....multiple vehicle and low mileage discounts with Farmers, $500 deductibles and i am at about 100/month....in WI

 

[waz]

Wow $516 yearly??? that is low...Where do you find an agent willing to write a yearly policy??? Haven't seen that around here for years, everything is 6 months or less. I pay $727 each 6 months, to cover two cars, my 2018 G80 3.8 AWD Ultimate and my wife's 2017 Honda Fit EXL Navi. $250,000/$500,000 Liability, $1000 deductible on both. The G80 is $474.77/ 6 months. I don't think there is anything about the car that should cause an unusually high rate. To the contrary, all the safety features and the recent top 15 safety rating, probably result in discounts. I should note, I live in a small village in far northern Illinois. 90 miles from Chicago, 77 miles from Milwaukee and 60 Miles from Madison, WI. None of the big city effects, on the insurance rate.

I have Erie Insurance for 3 cars, an antique truck, and home insurance. Full coverage on the 3 cars (same liability limits as you) and liability only on my truck is $1794 per year.

I have just about every discount they offer - over 55, 43 years driving experience, anti-lock brakes, anti-theft, multi-policy, safe driver, etc. My 2 cars are classified as pleasure use since I retired last year, and my wife works less than 10 miles from da crib. Hell, the last time I got a traffic ticket was in 1985 (knock on wood), and my wife has never had a ticket.

I hate giving my money to insurance companies, so I shop for car insurance regularly. I have had Erie Insurance for about 10 years now, and I have never had another company beat their rates.