genesis insurance cost

[nextcar]

i just called by insurance company to get some quotes, and i'm surprised that the following cars are all within $40 of each other:

2011 honda accord coupe v6
2011 genesis v8
2011 bmw 550i

considering that these cars range from $28k (accord) to $70k (bmw), why are they all about $1200/year to insure? i guess the claims cost for Honda accord is up there with bmw and genesis.

 

[Junkie49]

i just called by insurance company to get some quotes, and i'm surprised that the following cars are all within $40 of each other:

2011 honda accord coupe v6
2011 genesis v8
2011 bmw 550i

considering that these cars range from $28k (accord) to $70k (bmw), why are they all about $1200/year to insure? i guess the claims cost for Honda accord is up there with bmw and genesis.

Expensive cars DO end up higher on insurance since all their repair parts are expensive as well. But on your case it maybe because a lot more people have accord and may also be claiming a lot on their accord for repairs than does BMW550i owners claim to the insurance company.

Also maybe off topic but what is lowest insurance policy for 6mo. you ever had? I did Geico 100/300/50 BI/PI and UM/UMD coverage, no medical, 500 comp/collision nothing else and came out to be $348 for 6mo. or $61/mo.

Sadly, I can't do single coverage of my own. My family needs me.

 

[Gen0814]

I've been with Erie insurance for the last 10 years or so. What's interesting is that every year I gather quotes from 7-8 different insurances and none of them come nowhere close to Erie, even with lower coverage.
And, no, I don't work for Erie

 

[corkdsp]

I am an insurance agent and I drive a 2011 Genesis in Florida. Answer to your question is collision coverage is a small percentage of your overall insurance cost compared to liability to third parties. For example the cost for collision coverage on my 2011 4.6 is $132 per 6 months.

Changing vehicles between the ones you mention will only effect comprehensive and collision premiums. It will not impact the liability premiums which make up the majority of your overall insurance cost.

(ps however, changing vehicle types like to a sports car will impact the liability premiums)

 

[Aquineas]

My insurance went down quite a bit when I switched from my Acura TL to my Genny..

 

[nextcar]

I am an insurance agent and I drive a 2011 Genesis in Florida. Answer to your question is collision coverage is a small percentage of your overall insurance cost compared to liability to third parties. For example the cost for collision coverage on my 2011 4.6 is $132 per 6 months.

Changing vehicles between the ones you mention will only effect comprehensive and collision premiums. It will not impact the liability premiums which make up the majority of your overall insurance cost.

(ps however, changing vehicle types like to a sports car will impact the liability premiums)

that makes sense, especially considering that i have 500k/500k liability coverage.
thanks!

 

[jstrickphoto]

Similarly, a clean driving record and multi-car discount, my rate on my 06 GTO was $599/6 mo. Traded the GTO for the Genesis 4.6 last week. My insurance went down to $529/6 mo. Very surprised considering the cost/value differential.

 

[homeofstone]

As stated earlier the insurance cost on a particular vehicle depends on deductables, amount of coverage, driving record, how many miles to work one way, city and state you live in, maybe even the zip code of your residence in a major city, your age and how many other cars or property you may have insured with the insurance company and if you have an umbrella policy.

 

[GLGar]

Insurance on our 2010 4.6 tech went to $454 a year from $400 for the same coverage on a 08 Accord EXL V6 sedan. Most of that increase was the collsion premium for ACV less $1000.