Cost of Insurance? OMG!!

[EF/ELP]

So I read an article 2 weeks ago about the insurance cost of all vehicles, I can't remember the MSN link, but it had the option to filter by make, model and state..... then I read the average cost of insurance for the Geny in Texas is.... $2K a year !!!!

My complete fleet at home is less than half of that!

Some owner on this forum please tell me that is not the cost, otherwise I will never be able to own a Geny.

Edmunds list the TCO with an insurance rate of $1.5K a year... that' still a little high for me

 

[wallymn]

For full coverage I pay just under 500$ a year , In MN, clean record.

where you live has a HUGE impact on costs... I listed my home in Palm Beach as my primary address the cost would jump to 1800 a year.

 

[mcginnpm]

$2K...ouch , someone's getting robbed!

I'm in MD. $660/yr, full coverage (15K miles/yr for to/from work usage), clean record, minor discount for a multi-car/family policy.

Maybe the quote was for Dallas (big city) or El Paso (on the border)?

 

[cheez]

$2k a year? Time for you to move out. I estimated that mine shouldn't cost more than $700 a year.

 

[Mark_888]

So I read an article 2 weeks ago about the insurance cost of all vehicles, I can't remember the MSN link, but it had the option to filter by make, model and state..... then I read the average cost of insurance for the Geny in Texas is.... $2K a year !!!!

My complete fleet at home is less than half of that!

Some owner on this forum please tell me that is not the cost, otherwise I will never be able to own a Geny.

Edmunds list the TCO with an insurance rate of $1.5K a year... that' still a little high for me

If you want an accurate quote, call an agent or go to an online insurance website. Asking about insurance rates in a forum like this is ridiculous, since it varies wildly depends on several factors. If you live in a zip code with a high theft rate, you are going to have to pay more for insurance. It also varies significantly on your age, driving record, years with the same insurer, multi-line discounts, etc.

The Genesis V8 is going to be more than the V6, probably disproportionate to the higher list price of the V8.

 

[scottdk]

Try this thread, it may be of some help. $2G's? WTF?!

http://www.genesisowners.com/hyundai-genesis-forum/showthread.php?t=1561

 

[Pahaska]

My Tau V8 is just $7 per half year more than my former Azera. Given the much higher value of the Genny, I think that is great. I have USAA insurance and live in Austin.

 

[dg_moore]

My Tau V8 is just $7 per half year more than my former Azera. Given the much higher value of the Genny, I think that is great. I have USAA insurance and live in Austin.

My 3.8 is $6 more per half year than my former Azera. I'm with Nationwide and I live in MD (used to live in Austin, too - hook 'em!).

 

[EF/ELP]

If you want an accurate quote, call an agent or go to an online insurance website. Asking about insurance rates in a forum like this is ridiculous, since it varies wildly depends on several factors. If you live in a zip code with a high theft rate, you are going to have to pay more for insurance. It also varies significantly on your age, driving record, years with the same insurer, multi-line discounts, etc.

The Genesis V8 is going to be more than the V6, probably disproportionate to the higher list price of the V8.

Mark,
I never asked for accurate quotes, if I want accurate quotes I ask my insurance agent I am familiar with all the variables that can affect the rate, but if you found it ridiculous then why you responded on the insurance thread?

As I said, the article listed an average cost of $2000 for Texas, I just wanted guidance to see if it was true or not.

Thanks for taking the time to respond though, I do agree the V8 would cost more.

Try this thread, it may be of some help. $2G's? WTF?!

http://www.genesisowners.com/hyundai...ead.php?t=1561

Sctott, I have to learn to use the search funtion on this forum, thanks a lot for the link (and the patience)

Thank you all who responded, have a nice labor day weekend.

 

[Mark_888]

As I said, the article listed an average cost of $2000 for Texas, I just wanted guidance to see if it was true or not.

How could you possibly determine that from this thread?

As to your original source, I wonder where they got that information? It could be a voluntary user survey and maybe only one (or few) person(s) who owned a Genesis in Texas responded. Maybe it was the coupe and not the sedan. I am quite sure that some people are paying $2000 a year to insure their Genesis in Texas (or name any other car or any other state), but that is basically irrelevant information for the reasons I (and others) stated above.

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[yuhaze]

I live in HUNT county, but Dallas is just a small excursion away, I commuted to downtown Dallas for work for at least 8 years
For some reason, my policy is every six months, but the yearly price for full coverage for me turns out to just over $500
Maybe credit scores have something to do with it? (No offense, please)

 

[EF/ELP]

Well... so far no one has posted a "Yes, I pay $2000 and live in Texas"
I did read costs that others kindly shared, that provided some idea, not sure why the argument Mark, but I'll stop it here.

OK I found the link
The Most and least expensive 2010 cars to insure

Genesis 6 Cyl 4 door in Texas $2045

From the tiny letters: Source: Insure.com, from a study commissioned by Insure.com from Quadrant Information Services. Averages are based on a 40-year-old male driver who commutes 12 miles to work, with policy limits of 100/300/50 ($100,000 for injury liability for one person, $300,000 for all injuries and $50,000 for property damage in an accident) and a $500 deductible on collision and comprehensive insurance. The policy includes uninsured-motorist coverage. Rates were averaged across multiple ZIP codes and insurance companies. Average rates are for comparative purposes; your rate will depend on your personal factors

Bottom line, insurance companies will provide accurate quotes at the time. The cost could influence the final decision.

Cheers

 

[Mark_888]

From the same website, below is their list of the most expensive states to insure a car (average of all cars). Texas is ranked 24th. I think there is something wrong with their stats (the rates seem ridiculous high across the board), but the bottom line is that the cost of insurance varies wildly from one person the next, so it is hard to generalize. My "argument" is that you can't ask someone else what they pay for insurance to determine what you will pay.

But considering some of the escapades that I read about on this forum (mostly from V8 owners) it is possible that claims for the Genesis V8 could push insurance rates significantly higher than would normally be the case. One good thing is that there are a lot of old guys who drive the Genesis that hopefully are not drag racing it. One negative is that it seems to be disproportionately a guy car, which likely will result in more claims.

State Average Premium
Louisiana $2,510.87
Michigan $2,098.29
Oklahoma $1,869.39
Montana $1,857.96
California $1,774.41
South Dakota $1,772.83
Washington, D.C. $1,753.19
Georgia $1,751.42
Illinois $1,679.15
Connecticut $1,678.90
Arkansas $1,648.80
New Mexico $1,603.65
Rhode Island $1,595.97
West Virginia $1,589.69
Alaska $1,572.21
Wyoming $1,552.98
Maryland $1,550.13
Kansas $1,524.51
Kentucky $1,515.30
Colorado $1,480.97
Mississippi $1,474.94
New Jersey $1,473.73
New York $1,463.21
Texas $1,462.65

 

[Mark_888]

For some reason, my policy is every six months...

I think that is the standard policy length, but some people pay by the month, or every three months.

 

[ldrider]

Try having a sixteen year old boy driving. That really lightens the old wallet.

 

[dg_moore]

Try having a sixteen year old boy driving. That really lightens the old wallet.

I hope your 16-yo isn't driving your Genesis (gasp!). I was "this close" to signing a deal on a new Azera several years ago, and as I was about to put pen to paper it suddenly occurred to me that if I were to wait 6 months my son would be off to college and would seldom, if ever, be driving my car. I walked away from the deal, much to the salesman's dismay, but it worked - nobody but me has driven any of my cars since then. My son never did get a car - he and his wife live in Philly and don't need one. They use public transportation for most daily stuff and when they need a car for a shopping trip or whatever they walk half a block to a Philly Car Share lot and rent one. They're paying a lot less for transportation than I am. .

 

[mcginnpm]

One good thing is that there are a lot of old guys who drive the Genesis that hopefully are not drag racing it.

Old guys? Hey! I resemble that rema.....uhhh....what was it I was going to say?

 

[ldrider]

Son drives a 2004 Kia Sorrento. Wishes he could drive the Genesis.

 

[TNTitan]

my insurance for the Gennie went up $7/month from my E46 bimmer.. no biggie.

 

[Chopperdude]

788.00 per year with State Farm in Jacksonville Florida, I believe that's because I have everything insured through them which allows for added discounts. And an excellent driving record.