My SRT10 Insurance premium renewal

[ferraritoviper]

Some of you may remember, I crashed my Viper about a year ago to the tune of $53k in cosmetic damage, and my insurance company paid it quickly in full, less $1k deductable.

Just got my annual renewal policy, and was amazed to see my Viper insurance went down 18% to $883! Checked with my agent, and was told that because of my driving record, 4 cars insured and years with same insurance company, I fell into their 'accident forgiveness' program. Lucky me!

 

[Ghoust]

Congratulations! You definitely have great news...you saved a bunch of money on your car insurance!

 

[CitySnake]

Some of you may remember, I crashed my Viper about a year ago to the tune of $53k in cosmetic damage, and my insurance company paid it quickly in full, less $1k deductable.

Just got my annual renewal policy, and was amazed to see my Viper insurance went down 18% to $883! Checked with my agent, and was told that because of my driving record, 4 cars insured and years with same insurance company, I fell into their 'accident forgiveness' program. Lucky me!

LOL. Mine goes down 2%-3% every year. They say it's good driving ...

But it's our advancing age!

 

[slysnake]

That still seems high to me. Paying 720 a year with State Farm. 5 Cars and house with them, 30 years, 2000 deductable, less than 7000 miles a year put on car might have something to do with it.

 

[CitySnake]

That still seems high to me. Paying 720 a year with State Farm. 5 Cars and house with them, 30 years, 2000 deductable, less than 7000 miles a year put on car might have something to do with it.

More likely it's the location that makes the difference. NY/NJ/CT auto insurance is excessive compared to most of the country.

 

[Smog Dog]

That still seems high to me. Paying 720 a year with State Farm. 5 Cars and house with them, 30 years, 2000 deductable, less than 7000 miles a year put on car might have something to do with it.

2000 deductible makes a difference, too. Both rates are great. Fantastic after a 53K claim!

Bill

 

[Malu59RT]

I'm happy my insurance dropped from $220/month to $200/month in August. Must be because I'm 27

 

[Treviso]

What Insurance company are you dealing with?

 

[shine]

My Viper was cheaper to insure than my Challenger.

Ferraritoviper: congrats on the good news of accident forgiveness!

 

[Adrenaline Junkie]

Allstate is charging me more to insure my 2004 Vert SRT10 than my 2003 911 Twin Turbo, my International MXT, and my wife's Mercedes SUV. They are insuring my house, umbrella and all 4 vehicles.

Time for me to shop them.

 

[CitySnake]

Time for me to shop them.

I've posted about this before. I use GEICO and have what is a very low premium for my cars, my area and the relatively high coverage.

I STILL go to their website every year and plug in a "clone" applicant to get a quote to keep them honest. Most of the time my clone quote is within a few dollars (plus or minus) of my actual premium, however on one or two occasions, I received a significantly lower clone quote. I can't recall exactly, but it was probably about a 2%-3% difference.

Sure enough, they reduced my rate on the spot and sent me a check for the difference.

 

[escapedan]

This is a good thread - useful comparison info. I just looked at mine and it is $852 per year; embarassing I really wasnt sure what I was paying.

Here are the details:
I'm 33 years old, married, impecable driving record, insurance company is USAA, car is a 2006 FE Coupe, $500 deductible, rental reimbursement, towing & labor reimbursement. I do have my home insurance with them as well and the Viper is not my primary vehicle.

Funny - my primary vehicle is a 1996 Jeep Grand Cherokee with 200k miles and the insurance for that is more then 50% of what I am paying for the Viper! (I think I might be paying more to ensure that Jeep then its actually worth...)

 

[rudedawg]

I have Nationwide i'm 53 with 3 cars and my house with them and my 06 Coupe is 706.00 year with no milage restrictions.

 

[Sandy G]

I switched recently from Allstate after many years to AMICA. Lowered me by over $1200 a year for the two SRT's. Amica was rated #1 by JD Powers, 10 years in a row!!!

 

[mjf6175]

Hate to use the TV ad words but I just switched to Geico. Had been with USAA for over 24yrs, never a claim, no accidents or tickets and for 3 vehicles (08 Viper; 04 Ram; 06 Malibu SS) $3540 a year. Geico lowered that to $2320/yr with BETTER coverages ($500 deduct collision vs $1K and $50 deduct comprehensive vs $500). Could not believe the difference. Also shopped AMICA but they were $500 more than Geico a year.

 

[Martin]

Keep in mind that insurance rates typically go down slower than the car goes down in value. My rates go down a few percent a year, but the cars drop a LOT more than that...

Also keep in mind that if you crash your car once, the insurance company will pay out (or base) the value of a no-accidents, no-history car (at least in theory). After it's been crashed, if you crash it again, I'll wager the insurance company says it's worth 25% less than what it was before the crash that cost $50k+. They'll use the same 'diminished value' argument that we try to use to get them to pay more when we file a claim... So, it's nice that your rates went down, but the insurance companies usually have good reasons for doing what they do.

 

[fqberful]

In FL GEICO is very Viper friendly. We have 4 cars with them and it's less than $600 / year for the 06 Coupe. Of course my wife and I are "old" hahaha and we took the time to do that ridiculous on-line safe driving course that was good for 10% reduction+ in and of itself. Cost for that was like $40 or $50 for the both of us. Got that back 1st 6 months. I think it has more to do with *age* and *location* than anything. Oh, and we don't have any tickets either which is always a plus.

They aren't so Porsche friendly though..

--FQB

 

[Sellshomesdrivesviper]

If you have multiple cars, and get a multiple car discount, your insurance is going to be much cheaper than one vehicle because they know you can't drive them two or three at a time.

After 30-years with Allstate, along with my agent retiring, I think its time to get some quotes from others.

 

[Black Moon]

Just moved my Viper and 63 Vette to Chartis. Premium went from $1156 to $417 with $0 deductible. They are now pricing my home. There was a thread on here a few weeks ago and they check out very positive.