Insurance

[Satellite5812]

Not sure if I'm "doin' it wrong" somehow, or if prices have really skyrocketed that much... Granted, the last time I owned a vehicle was over five years ago, but I remember insurance costing around $40~50/month. Now the cheapest I can find is $130! Has it really nearly tripled in the last five years??

(I'm just carrying basic liability, for a passenger vehicle. Got quotes using different addresses, and comparing primary vehicle usage as "commuting" "business" or "recreational," none of it seemed to make a dent in price.)

 

[GotSmart]

It is because you have not had insurance.  The companies have no other option but to classify you as "high risk."

 

[ZoNiE]

X2 on the above

 

[highdesertranger]

x3, it will come down after a year or two. I would actually talk with someone at the companies and ask them what their policies are. in other words why is it so high and when will it come down. highdesertranger

 

[SoulRaven]

Another potential factor to consider is your credit score. Unfortunately most of not all auto insurance companies in the U.S. use it to directly influence the rate they'll give you. When I had no credit score the quotes were much higher.

 

[GotSmart]

I have a high limit policy.  Full coverage and renters insurance to cover the contents of the van.  I pay about $65 for everything.  I can drop it to about $25 a month, but if something happens I am stuck.

 

[WriterMs]

Another major factor is your location. Higher population density, etc.

Since I am a SD "resident" in the small town of Madison, I get rated for that even though they know I full-time in my van (or plan to again once family obligations are under control).

I have a personal vehicle policy but they acknowledge my home-built as an RV and I have up to $3000 in contents coverage (more than all my contents put together). I pay $58 / month.

 

[Almost There]

Not sure if I'm "doin' it wrong" somehow, or if prices have really skyrocketed that much... Granted, the last time I owned a vehicle was over five years ago, but I remember insurance costing around $40~50/month. Now the cheapest I can find is $130! Has it really nearly tripled in the last five years??

(I'm just carrying basic liability, for a passenger vehicle. Got quotes using different addresses, and comparing primary vehicle usage as "commuting" "business" or "recreational," none of it seemed to make a dent in price.)

Definitely shop your insurance needs around but make sure that you're comparing apples to apples not grapefruits...

Residence location, number of years of accident free driving and a good claims record, year and make of vehicle, miles driven and purpose for driving as well as your credit rating will all have an impact on your final cost.

There are so many variables which is why it's important to make sure you've got comparative quotes. The rates will also be impacted by the fact that you're asking for bare bones minimal insurance.

For example, when I notified my insurance broker that I was no longer driving my mini van back and forth to the closest city to make sales calls, it knocked 30% off my premiums.

 

[gojo]

Not sure if I'm "doin' it wrong" somehow, or if prices have really skyrocketed that much... Granted, the last time I owned a vehicle was over five years ago, but I remember insurance costing around $40~50/month. Now the cheapest I can find is $130! Has it really nearly tripled in the last five years??

(I'm just carrying basic liability, for a passenger vehicle. Got quotes using different addresses, and comparing primary vehicle usage as "commuting" "business" or "recreational," none of it seemed to make a dent in price.)

Go to your local insurance agent. There are several in every town. Most agents sell insurance for dozen or more insurance companies. Go to their office and ask if they can find you insurance of your choice, with the lowest rates. I do this all the time, my wife has been working for an insurance for over 30 years. You can do this with health supplement, auto, etc.

 

[GrantRobertson]

If you are a veteran, try USAA. Saving me a fortune.

 

[ramblingvanman]

If you are a veteran, try USAA. Saving me a fortune.

Agreed. Saved me 50% over the last company I used.

 

[offroad]

Agreed. Saved me 50% over the last company I used.

Just be aware that USAA will shoot your rates up at the first claim. They need to recoup their money. Switched to Geico yeasr ago because of this, and a much better rate. But also use Progressive too for a different vehicle.

 

[Canine]

I've been with State Farm for about 30 years or so and have found no reason to switch. Rates are $65/truck,$89/car,$102/Van.These are for 6 months coverage.

 

[gojo]

Go to your local insurance agent. There are several in every town. Most agents sell insurance for dozen or more insurance companies. Go to their office and ask if they can find you insurance of your choice, with the lowest rates. I do this all the time, my wife has been working for an insurance for over 30 years. You can do this with health supplement, auto, etc.

My point is, every time an insurance agent gets a new client, they get a nice bonus, end of the year. So they'll work hard to find you a good policy, again and again.
I know few people on medicare, when their supplement insurance goes up, they'll find another one at a lower price. I've had my insurance agent call me to let me know he found a cheaper policy. I haven't had a ticket in 37 years, that might be why. I better knock on wood!

 

[offroad]

Gojo you have a great insurance agent.

 

[gojo]

Gojo you have a great insurance agent.

My friend, I have only one answer to that.
 Small Town, America. I think a rural town might be the second best thing to do. Being that traveling in an rv or van would be a #1, investment.

 

[Satellite5812]

Rates are $65/truck,$89/car,$102/Van.These are for 6 months coverage.

So the rates are higher for vans then? I still don't understand why the dramatic difference in my case, unless it is because as a few people stated earlier, because I'm now "high risk" because of the lapse in vehicle ownership. My driving record is spotless though.

 

[Iggy]

My van insurance dropped from $65 per month to about $42. It was partially due to an improved credit score and the rest because of changing my address to my sister's house. State Farm. I have liability, comprehensive, and towing, no collision though. I'm always happy when my basic living expenses are reduced. That means either less working or more discretionary spending.

 

[gojo]

I have insurance with Safeco, it's with Liberty Mutual. I don't have all the paper work, my wife pays all the bills.
We have a 1998 F150 and a 2008 F150. We have just liability on the 98. The 2008 has full coverage, including rental.
I looked at the check book and it states we paid $545.30 annually. Now this is in Texas, I can't speak for other states.

Also we have the max on liability, too many lawsuits out there.

 

[accrete]

I spent about an hour on the phone with Progressive asking the what-if on van/conversion as we have our full time name-brand 5th wheel insured through them.
WOW, what an eye opener! I had no idea that getting insurance for a cargo van was potentially so difficult. Once I mentoned DIY conversion they said no way. Then I asked them if they would insure a van converted by OutsideVan...they did some research while I waited and said they would not. < < That is a $100K professional conversion and Progressive considers it a "High Risk"!! Amazingly crazy on their part as the build quality of an OutsideVan is waaaaay beyond what a Winnebago can even dream about.
 
Our current Chevy-cargoVan-conversion is insured through State Farm as a personal DD. I've got a call into them to play with some numbers on a possible van version 2.0 (Ford Transit?).

Thom