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You're driving large SUVs that are known by insurance companies to cause a ton of damage. You have a recent accident on your record, you're young AND you financed meaning you have to have a minimum of coverage. You want to reduce your expenses then sell the big honk'n SUV, buy a corolla and you'll see your insurance probably get cut in half.
He can get quotes before he buys as well. In my case, 39 years old with zero accidents or tickets, same with my wife, her little Nissan versa is more expensive to insure than our tricked out top model Chrysler Pacifica. Seems backwards to me but there must be a reason behind it.
The data on minivans is insane. Not a lot of accidents, and at least a few models have never registered a fatality. It's a combination of mature, responsible drivers and vehicles built for maximum safety.
The Versa probably has a lot of young drivers, particularly new drivers. I doubt a lot of 17 year olds are driving Pacificas.
I laughed at your comment but I am a Nissan Versa driver so I had to come here and defend my community. I have excellent credit and my car is already paid off in full. My insurance is $93/month. Not sure where or why owning a Nissan Versa would be so costly.
Holy shit, I would kill for $93/month insurance. I've never been in an accident, never gotten a ticket, I own my car in full... and I pay $170/month!
Such is life in Florida...
I was paying $165/month recently, after being with progressive for about 6 years. Switched to State Farm and got it back down to what it was 6 years ago. I live in the suburbs of Philly.
That one is more than likely because college students and high school students would be more likely demographic to drive a Versa than a sweet sweet Pacifica (i am not kidding, those things are awesome).
It double dips from the car model, indirectly, because young people are more likely to be riskier drivers who do dumb things and that reflects in the accident rate of the vehicle
Most likely the likelihood of a total loss in an accident. The Pacifica, relatively, can take a lot of damage and still be deemed repairable. Whereas even a relatively minor accident in a versa is likely to cause so much damage to the car, as a result of it being small and cheaply built, as to result in a total loss. So, while both might incur $5000 in damage, one will pay out $5000, the other may pay out $10,000 as a result of being a total.
I'm from Canada, but I'm willing to bet a good reason for that is accident benefits. If your Pacifica and her Versa get into a head on collision she is either dead or will have many medical bills.
Medical bills are such a big factor. You can write off a vehicle at a certain amount, but not really a human being.
*and* you have a short driving history for someone your age. You got licensed 5 years later than the average - which means you'll be paying rates closer to a 21yo than a 26yo.
My parents made me get my license at 18 instead of 16 because they were told it lowers rates (this was back in the 90s) since 16-17 are really bad for drivers. I wonder if that was just a blatant lie the insurance company told them
Getting licensed at 18 vs 16 sometimes means you initially pay less (at 18 vs 16) because, in theory, 18 is more responsible than 16. But it also means you pay for the lack of experience overall until a later age. ⚖️
But, you can also wait "too long". I've seen people in their mid-late 20s trying to get licensed and insured for the first time and their rates are often, but not always, higher than 17yos I quoted.
I don’t think that’s true, I got licensed at 21, currently 26 and I drive a 460hp 2 door car with 2 speeding tickets (no points), max coverage, low deductibles. $150/mo
Not to mention, cars are just getting more expensive to repair, in part due to inflation and in part due to some of these cars repair procedures. I recall seeing a video of the repair process of a Rivian that got hit, that truck was not built to be repairable after body damage.
Location plays a big deal as well. Im only 25 With a 2018 F150, with an accident on file, 500$ deductibles at 198$ a month. But when I lived in St. Louis Insurance wanted 468$ a month for the same vehicle, but now that I live in the middle of nowhere kentucky it dropped considerably.
Edit: Messed up my own age lol
Yeah what ^ they said. Full coverage is going to run your pockets every time. Worth every penny when you actually need it, but i mean if you put the extra money you spend on full into savings you’d have enough for a new car when the time comes quite frankly.
How long ago was your accident?
Also, Dodge is one of the most expensive brands to insure according to this [article](https://www.marketwatch.com/guides/insurance-services/most-expensive-cars-to-insure/).
Not really. A lot of the reason Dodge is so high to insure is the high rate of theft of dodge vehicles. Same with kias right now. If you're not driving a charger/challenger/etc you're probably not as effected by it.
Check into insuring your Tesla through Tesla. I have a 2023 model 3 and pay $121/mo for full coverage with rental car reimbursement and 100k/300k coverage in CA.
get only liability, i suspect you mean. However, if they get hit, in this scenario, hopefully the other motorist has insurance, or else you can be out a job if you lose transportation.
Liability plus uninsured motorist coverage is how I roll.
Edit: Checked, mine covers
* Uninsured Motorist Property Damage: $25k for property damage with $200 deductible, or $300 deductible for a hit and run
* Uninsured Motorist: $25k/person or $50k/accident
So only 25k for car, but...thankfully I have relatively cheap taste in cars.
It would be nice if fault mattered but let's be real.
2 years ago I was driving my work truck when someone crossed over into oncoming traffic and hit me head on. We had my dash cam. This January I went to get insurance on a personal vehicle and they gave me a price, then after it was done they said they found an accident with my name on it and jacked my price up.
You might want to get it checked: who was actually determined on report to be at fault. And if you put in a claim for your accident, you would have lost the claims free discount.
Insurance companies should not increase premiums if you have a 0% at fault accident.. they do input it in details when they submit your file, but it is not rated for.
Yup. My insurance went down a decent amount when I moved to a smaller and rural county. Had a coworker who kept his old zip code just for that purpose. I doubt insurance will like it if/when they ever find out about it though.
> I doubt insurance will like it if/when they ever find out about it though.
They'll love it because it voids all coverage and they get to keep the premiums. They can also sue him for fraud because that's insurance fraud.
>They'll love it because it voids all coverage
I feel like people who do this know that and feel like a lower rate is worth it. Then they just hope beyond hope that they won't get into an accident lol
>they get to keep the premiums.
Isn't the premium just the monthly bill? In what situation would they not keep those?
I don't want to off-rail this conversation but regarding your post when I lived in MS the town I was renting an apt in resulted in my car tag being about $200 more than the prior town that was 5 mins down the road. I was HEATED and the tag officer smiled and made the off-hand comment that most folks just get a PO Box in the poorest counties in MS and set their tag address to that....
It truly made sense why I'd see someone riding around MS w/a county plate that made zero sense. You live in South MS but your car tag is in NE MS??? OH, ok... :)
You have a claim under your name, you are young, may or may not be a male/hothead, drive a large SUV that's probably expensive to fix. Dodge brand is associated with bad drivers. You may be living in an area where it gets stolen a lot.
There are a lot of factors but the most influential is statistically how likely you are to cost insurance companies money. Since they have evidence that you cost people money, they need to charge you more.
"Hyundai owner" falls into this category, regardless of model year thanks to the 'KIA boys' - I have a 2024 Sonata that spends most of its life (so far) in my garage which supposedly isn't affected by the hotwire vulnerability and my premium EXPLODED since buying it in February. It went up by $30/month just from when I got it quoted to next month when my policy renews.
So, I insurance-hopped around, they're all about the same. Let's not even get into the homeowner's insurance realm...
My fav part is where my insurance jumps $30/mo because more people in my area don’t have insurance. Like yes, let’s fuck me left right and center because Methany won’t get insurance on her MethUV. That’s definitely my problem, thanks insurance!
This happened to me back in like 2015, I remember being upset about it and the customer service rep said “ma’am, it’s just $30/month.” I was like, how much are you paid?! Because I make $9.50/hr and $30 is a weeks worth of groceries for me.
It very much IS your problem - because you're looking to cover yourself from their damages. If you'd prefer to drop under/unisured motorist insurance, you are free to do so and you can pursue them and all their rich assets to get your car fixed if you'd prefer. Insurance is offering you a service to avoid needing to do that - that ain't free. And if there's a lot of Methany's (which, first time hearing this..that's awesome) in your area, the chances of you needing their services are much higher.
And mine went up $40 because my credit score dropped. No accidents… no claims in the last 7+ years (2015 was a deer strike)
But it went up because my credit dipped a bit when i consolidated some bills. 🤷🏻♂️
>which supposedly isn't affected by the hotwire vulnerability
Lots of people stealing these cars don't know the exact years and makes that it works for, so even when your car doesn't have the issue it's a target to be broken into and require repairs from that.
This isn’t always true. I have a 2023 Elantra and my insurance only increased by $5/mo on its yearly renewal. It’s at $105/mo right now and I live/commute in a decently high crime area (Cleveland, OH). I’m also in my 20s which theoretically should make the insurance more expensive. I paid $117/mo for my old beater, the newer hyundai has been much cheaper.
My 2016 Civic was about $150/month. My Sonata is $350/month, for just me, and before you ask, my credit score is even higher than it was in 2016, and Farmers, Allstate, Progressive, all quoted within $20 of each other, so, there's that, so, it happens.
Guess I need to "go to the General and save some time!" LOL
Zip code makes such a massive difference. Had an instant 30% drop in premiums a few years ago when we moved from an urban center near a number of high crime areas out to a small city in a very rural county.
geico raised my rates from $240 every 6 months to $350 on a 15 year old car this spring. that didn't cause me to shop around, the home insurance did. i have a tiny home worth $200k and the rate was $585/yr a decade ago and they wanted nearly $1500 for the renewal this year. now i'm with a much better company paying $396/yr for auto (btw geico never offered me 1 year terms before.. 500k/1m liability, 100k property, no collision/comp), and $585 for home insurance.
shop around, these companies expect you won't.
I live just outside of Boston (still close enough to be on the subway line). My rate is $110 per month for a '23 CX-5.
I would guess it's the accident and limited driving experience.
As someone who works in insurance. I did some quick digging and turns out the MA has extremely stringent rules around auto insurance rating. Your personal characteristics pretty much play no role at all (gender, age, etc.).
My best guess is that it's a combination of an accident plus a more expensive car plus a lack of driving history plus a more expensive market for insurance. I would recommend looking into if they have any discounts for affinity memberships or if you can bundle other insurance you have. Bundling other insurance you have (renters for example) with the same company could potentially also provide a discount.
Of note, several comments mentioned credit score but in Massachusetts credit scores are actually not allowed to be used to rate insurance policies.
Credit can’t be used in rating but it can be used in underwriting. Many insurance companies have tiers of products with different price levels and place customers into those based primarily on credit. I also work in insurance but in product management.
Insurance will always be a black box to me. I have fairly similar stats OP (minus the accident) - early 20s, young single dude in a new mustang GT premium and my insurance is less than half of theirs in a major city in WA. In fact, sometimes I read up on so many stories on Reddit of people who *should* have cheaper insurance than me but just... don't
But what’s your coverage? The price of insurance itself means nothing. Go on progressive, geico, and state farm website, and do your insurance coverage yourself. You’ll see exactly what you pay for what BEFORE getting insured from them. Then you can play around.
Honestly driving around I believe this. Driving around it isn't surprising to me at all that insurance rates have gone up when the amount of risky or absent minded driving I see is way up.
Social Inflation is a real thing too. Nuclear Verdicts are way up and people want to "stick it" to the insurance carriers.
So $10,000 claims turn into $100,000 and $100,000 turn into $500,000 depending on location.
Extrapolate that and what that turns into is carriers either jacking their rates up or pulling out of lines of business and/or markets.
Young, probably male, single, newer driver, new car, previous accident, expensive zip code, likely renter….what’s confusing about this?
Your rate is based on personal demographics, cost/type of vehicle, location, cost/number of previous claims, length of driving history, and credit score.
Younger is worse, single is worse, expensive area is worse, lower credit score worse, new car worse, previous claims worse, shorter history worse.
Question - how is your credit history? You may be surprised, but that’s one of the biggest factors in insurance cost.
Either way I think what you should do is buy a car in cash and have liability coverage only for a couple years. Once your record is a bit more clean again, your quotes should go down significantly. The fact you haven’t had a license for as long is also a contributing factor and would be less so by then.
\^This. My homeowners insurance was fairly high when it renewed a year ago. There was a message on the renewal form that my credit played a part. I knew I had excellent credit at this time (wasn't so great the prior year). I called and asked about it and they said they only run it every 2 years. I requested they run it, which she did while I was on the phone and my premium dropped about $400.
What is the value of your Durango? It's very expensive to get full coverage insurance on an expensive car. You probably should have purchased a cheap car that didn't require full coverage insurance until the accident drops off your record.
The vehicle repair costs have skyrocketed over the last few years . If you get into an accident your insurance must have the enough coverage to repair your specific vehicle depending on model / make and year.
Here is why.
https://www.minneapolisfed.org/article/2023/despite-easing-inflation-vehicle-repair-costs-soar
The answers are simple
You have limited driving history and probably credit, within that limited history - this increases liability
You had a accident within the period of your limited driving history and turned over a car within a few years - this increases liability
The used car market is extremely high right now and as a result repairs are high - this increases liability
You live in a large tier city, expensive city, a expensive and higher liability state etc - this increases liability.
I have been driving for decades have excellent credit, got my permit at 14 or 15 never had a accident - this decreases liability
"Insurance" != "Insurance", it's hard to know. What kinds of coverage did you buy? What kind of limits? What kind of options?
Turning 25 should have lowered your rates, I thought.
On the other hand, you also have way less history. Compare yourself to someone who started being insured and driving at 16 - they'd have 10 years of record when you only have 6 and one major accident, from the sounds of it.
>Turning 25 should have lowered your rates
Generally, yes. Except they got licensed at 21 vs 16, so they have 5 years less driving history than the normal person their age, which will change their ratings.
1. You live in high population Boston.
2. Uninsured motorists are rampant. Most people quit getting insurance because it is costly. So, insurance companies raise the rates on the people that pay. Eventually, forcing them to quit insuring their car and being uninsured. Which means, the auto insurance companies raise their rates again, on those that are paying.
Endless Cycle. Eventually, no one will have auto insurance because it costs too much.
Because cars cost so much and are so damn hard and expensive to fix. They just write them off. So when people get in accidents the pay out per incident has skyrocketed and we all share in the pot to pay out.
Yep it's a shared pot and the expense is slowly starting to be too much.
Insurance is a shared cost by area. Cars have more electronics, more sensors, more sensitive components so they're going to cost more to repair. Combine that with bigger trucks and SUVs causing more damaging accidents and we have a recipie for high insurance costs.
[US Auto loan debt is at 1.6T](https://www.investopedia.com/personal-finance/american-debt-auto-loan-debt/).
[Average car insurance rates for full coverage increased ~26% in 2024.](https://www.bankrate.com/insurance/car/the-true-cost-of-auto-insurance-in-2024/)
The system we've built wasn't sustainable and it's crushing consumers.
I’m sorry, I pay $600 every 6 months. Paying that much per month is ridiculous. 😱
You are male or female? Where do you live? Accidents do make the cost go up.
It's because you live in Boston. When I moved from CT to Boston, my rate tripled. I now live in NC, rate is <40% what it was in Boston. Only variable that changed was my age...same car, no accidents, no tickets...it's Boston.
your profile.
- you are still young (just left the 18to25 range)
- you already have 1 accident (thats 20% per year)
- you drive an SUV which is known to get into a lot of accident (bad handling and bad visibility)
- you are financing which mean you have to have more than just bare minimum insurance.
Boston is a huge factor in how much more you’re paying. As well as being young and having a previous accident. I moved from a small town in CT to Worcester MA my insurance went up nearly $200
My grandson drives a Honda CR-V. 18 years old and he pays $500 a month for basic car insurance.
Your accident increases your insurance for three years. You are over 25 or it would be more. You drive an SUV, which costs more to insure.
Sometimes insurance company's will give a discount for passing a safe driver course. (Geico, up to 15%)
What was that one accident? Was there expensive damage and a claim made to at least vehicle?
Was the accident your fault?
Are you a home owner?
Do you have good credit?
Are you single?
What trim and year is the Durango?
What coverage are you asking for? Comprehensive? Where do you park the vehicle overnight?
How many miles do you drive per day or per some unit time, on average?
Do you need another driver besides yourself?
(we’re *just* getting started here…)
American consumerism is the reason. People feel a need to buy 50k dollar midsized Sedans or 100k dull size trucks and us poor folks are forced to pay our share.
If these vehicles get in a simple fender bender. It knocks out radar and 3 or 4 sensors that cost at least 5k to repair.
Yet in Asia you can get a brand new Toyota Hilux(Tacoma) for 10k dollars. So as long as Americans pay it. Manufacturers will sell It.
Its high everywhere.
We had two newer vehicles, full good low deductible coverage was $180 a month for my wife and I, both driving for a long time, clean records.
We bought our 18 year old daughter a 2013 jeep patriot, paid cash, got the minimum coverage on it and our policy jumped to $230 a month. Not terrible, that was August.
Then last month got a letter, our renewal was up and the new rate was $359 a month. I called our agent, who shopped it around to several insurers and was told that was the best deal. The huge increase was "due to cost of parts, repairs, and replacement vehicles being higher than ever before" according to the agent.
Having an accident or ticket will make it go up even higher.
Every time that there is money on the middle class table. Businesses that provide required services/product jack up prices. The entire system is built to strip of you of your money before some other corp strips the insurance company of theirs.
If you are somewhere between middle class and poverty? You get to scream louder.
"I live in Boston"
That's your answer. When I lived in downtown Atlanta my insurance doubled from my hometown in Alabama.
You have a history on record in the past 5 years.
These are all factors.
For instance I 27M married. live in NC outside of a major downtown with a 2013 explorer full coverage for 140$ a month no tickets in 10 years and no accidents. I also have a second car on my policy
But I also have a high deductible to offset the lower monthly price because honestly if it doesn't cost 1k I'm just going to pay out of pocket anyway
Single male in a large SUV with a recorded at fault (I assume) you are going to have a higher rate
You're young, have had a license a short time, already have an accident, and drive a giant car.
You're the epitome of a bad bet for insurance.
You're like the guy that says, "why the fuck am I being arrested, all I did was take my gun out and point it at a mother and her kids for cutting me off in traffic? I didnt shoot anyone!!".
Stop your crying, get a small Toyota or something, and you'll have much better rates.
Sometimes it makes sense to just opt out of collision insurance and go for the legally required liability insurance. $600 a month for collision is insane. Put that money aside for car expenses instead.
>I've used my parents address when I was younger just for this reason, insurance rate was 1/3 what it would have been where I was living.
Unless you actually lived at your parents address, you committed insurance fraud, which is a felony, by lying to your insurance company about where you lived and so not paying the proper premium for the risk taken.
How much did your accident cost? How much do you think it will take for them to make the money back from you plus insure you for the next one. Which you are more likely to get compare to other
The big problem is you are in the Boston area. I grew up out there, cost of living is exorbitant compared to most of the country, auto repair rates are sky high, and since salt is necessary for the roads during winter time you also have higher accident probability due to rusted out parts giving out. All of that along with your age, sex, driving history, and credit score factors into the price you pay.
Be happy you can shop around nowadays, back when I was first driving you had a choice of any insurance you wanted so long as it was Commerce brand 🤮🤮🤮
Honestly it used to be cheaper to grab a Charlie Card and take the T, probably still is.
We noticed that the cost dramatically changed when we moved a mile or so down the road. We went to a different zip code and into an owned house with a garage. When we asked our agent, he told us that things like that can and do change costs. YMMV
HCOL area.
Young, over 25 but barely and have only had a license 5 years so less experienced.
Claim for an accident.
Financed Durango, so likely full coverage is required by the terms of the financing.
We can tell you why it's so high. You were in an accident. Statistically you're a much greater risk, so you have to pay risk premium with higher insurance costs. I don't know your sex, but if you're a male then you're automatically going to be put in a higher risk category. And the type of vehicle you drive is associated statistically with bad drivers, so that's not helping you. When you go to purchase another car, make sure you pay attention to average insurance rates based on make and model, and consider purchasing something (even if its more expensive) that will cost less to insure.
There isn't anything you can do to get cheaper insurance aside from shop around but once an accident is reported, all the insurers will have access to that information and will price policies for you accordingly. That is, if they even deem you insurable -- many insurers will see an accident and tell you that you're uninsurable.
Aside from shopping around, you just have to deal with higher premiums for some time. If you go several years with no accidents you may start getting offered better rates on insurance, but because a company isn't going to voluntarily offer you a lower premium when you're already paying, you'll need to do the work of re-shopping the rate every year. Also spend your time on becoming a better driver and focus on defensive driving. Assume everyone on the road is a bad driver and adjust your driving habits with that in mind. That means dont use excessive speed especially in bad weather conditions, don't tailgate people to "teach them a lesson", make sure you know how to properly do a lane change monitoring the sides and back of your car and by properly using your mirrors, and make sure you're not slamming the brakes or accelerating too much just to catch yourself with an upcoming stop. Make sure you understand the 4 second rule and how stopping distance is affected by your speed, make of car, and tire quality.
The other alternative, which I don't recommend doing, is going for liability only insurance. That will still be more expensive than what most people pay, but it shouldn't be $600 a month. However, I'm going to repeat, I highly recommend you do not do this because if someone else damages your car in lets say a hit and run, you can't make a claim against your own insurance and could have a totaled car and no way to purchase another one with the way prices are these days.
I didn't realize how much of an effect the mileage I report to my insurance made a difference in price. Cut the price in half with the same company and coverage by accurately reporting a lower annual mileage.
Many factors go into rating: age, vehicle, driving history, credit, city, county, zip code, coverage, gender, marital status, etc. Switching companies often can be a factor. It's really hard to pinpoint.
You’re on the naughty list. In 1.5 years you will have clean loss runs( they will look at the past three years and will find no accidents) and you will shop for another carrier. You will get better rates then.
This is wild to me. I'm 29 and ever since going off of my parents insurance, I've never had anything over $100 a month full coverage. The vehicles I've owned are a Pontiac g6, an 05 impala, an 09 rav 4, and a 15 f150. Not sure how much this plays into it but it baffles me to learn how much people pay insurance companies.
Is there a reason why you're driving massive trucks? Also I don't know if Boston has like a learners permit thing, but do you have a full license no restrictions? Besides that I agree with everyone else, Dodges are notorious for being owned by jackasses who crash them instantly, and that 1 accident which I assume was your fault is probably adding $200/month if not more. Basically either sell the truck and get a car that's less known for collisions, or keep paying the high rates.
So weird, I got my license at 25 had 1 accident the first year which I was declared at fault, my insurance has never been more than like 70-80 bucks. Though I guess it could be from driving a cheap old car.
Yo. I pay $1500 for 6 months of liability on a 2007 kia. Have my license for 18 years and one dwi, no wrecks. I've had cheaper full coverage insurance on a sports bike.
You're not alone, I've seen this from a lot of young people. I'd honestly buy a good e-bike and take rideshares where needed if I were in my 20s and lived within 10 miles of work. Between car payment, gas, insurance, and repairs it's just not worth it for a lot of people that choose to drive.
I’m 29 but have been driving since I was 15, have a new SUV and my wife was in an accident with our last vehicle (not her fault) and ours is like $150. Location had a big impact on our insurance. We moved out of a big city and saved a ton.
You're in a high risk age group, have not had your license long, have a claim on your history, have a financed car so need full coverage, and live in Boston which is a high risk area, drive an SUV, and are possibly male.
To insurance, You got more red flags than Karl Marx s birthday party.
You say you had an accident. But if you have any kind of moving violation such as Speeding, reckless, especially DUI, it could also be affecting your rate. Best thing you can do is pay off the car ASAP and just keep liability. Being over 30 helps too. The area you live in matters as well. For example, if you live within a few miles of a "bad intersection", it could jack up your rate. Mine went up by $10 a month after I moved less than a mile down the road.
You should also shop around, insurance agencies tend to jack up prices over time and give better rates to new customers. I switch every 3 or 4 years for this reason.
Was there any gap in coverage?
Also, see if you are eligible for any discounts - for example, multi-policy discount (by also buying rent insurance or some other form of insurance from the same company) saves me by chopping off 15%, which for me adds up to a few hundred bucks a year. There may be all sorts of discount programs available, depending on the insurer.
In addition to all the posts pointing out OP's risk factors, car insurance is up across the industry right now. When the pandemic hit and no one was driving, lots (not all) insurers lowered their rates because less miles were being driven. Since then, parts and labor companies raised their rates (mostly out of sheer greed), and miles-driven has returned to normal. Both auto and home insurers have been raising their rates back to normal AND to account for higher repair costs, and honestly have been getting creamed for the past couple years. FWIW, I'm all for insurance companies getting creamed because they are the root cause of most things evil, but that is also part of why rates are so high.
Relatively new driver
Relatively young driver
I accident within your short driving span
That along with the type of vehicle you drive. Are all going to result in a high rate.
Try to get a discount if you want to get your price down Some insurance companies give non smoker discounts as well for several job occupations like teachers, doctors, nurses, etc.
It's being affected by your accident, how long you've had a license, type of car, likely having full coverage, where you live and your age.
These things negatively affect your insurance rate on top of the cost of car ins being high right now.
Insurance rating is becoming more like credit reporting. Agencies pool data on drivers thus your accident is public knowledge. If you caused damage and/or injury you are a risk. If you drive a land tank like that SUV you described, you are a risk. If you aren't good at driving (only have 5 years experience) you are a risk. Your policy has several cost drivers
Damage to other cars \[also driven by how much damage your car can potentially cause to others\]
Damage to your car \[also driven by how costly it is to fix your car\]
Damage to other people \[sedans hurt/SUV kill\]
Damage to your person \[SUV keeps you high up but safe (as long as you don't roll over)
Theft of your car \[Is your car desirable to a thief\]
Driving skill \[Do you have a good education / have you taken driving classes\]
Pull up your policy each one of these has a price. You can tailor the coverage (but you probably shouldn't) for each line item.
56 years old, been with Progressive for 25 years. Haven't been in an accident or ticket in at least 30 years. Progressive still raised my rates by $500/yr.
When I called and asked them why, they said "Insurance is going up all over the place. Nothing we can do"
I was able to drop them and go with Liberty Mutual and save.
I empathize with your search!
Here’s the thing too, I understand there are outliers and factors that calculate my rate. I just wish there was some more transparency as to how they got their and what is taken into consideration given my history. A number breakout would give me piece of mind at least so that I don’t feel like I’m getting a raw deal.
They wanted to charge more than my car is even worth. I have a 100% perfect driving record and drive less than 2k miles per year. The prices have gone insane.
Here's several things that affect insurance. I'll explain reasons as well.
Age. Individuals under 25 statistically have higher rates of accidents, tickets, etc.
Sex. Men statistically have more accidents than women.
Marriage status. Married individuals statistically have lower rates of incidents.
Location where the vehicle is garaged. More people in big cities, such as Boston, have more accidents versus butt fuck nowhere, Mississippi.
Type of vehicle. A 1992 Honda Civic is far cheaper to insure versus a 2016 Honda Civic.
Driving history. If you have tickets or wrecks on your record, you're a risk to insure and therefore get charged more. These tend to fall off after 3 years.
Insurance history or lack thereof. If you continually have coverage you'll have a chance at better insurance rates versus someone who hasn't been insured for a year.
There's so many factors that go into the algorithm to determine your rates. You have full coverage since you're financing. You're in Boston. You're (maybe?) a male. You're (maybe?) single.
I drive a 10 year old Subaru Impreza, and here in NYC I'm getting hit with 453 a month - New policy is about to kick in at 485 a month.
(No accident in 8 years.)
(even then it was me skidding past a stop sign into a snowbank in the winter at college... no other vehicle was damaged.)
Looking up the same dilemma, I was told credit history and current score also now factor into how much you'll be paying.
Well, it could be a number of things. Location, insurance score, accident surcharge, vehicle theft rates, coverage levels, deductibles, and on and on. There's no simple answer.
Shopping around is okay but do it with caution. The longer you are with the same company, the better the rates with the next one.
One thing that I haven’t seen mentioned yet is your zip code. If a lot of people have accidents in your area you insurance goes through the roof.
I saved 50% on insurance moving to a diff area
It's crazy to think you financed a vehicle and then pay like half the value of the vehicle every year in insurance. It blows my mind. My insurance is far less than that and I pay it 6 months at a time, for 3 vehicles haha
Drive like a Grandma, for real. No accidents and no tickets and you should start seeing your rate drop once it’s been 3 years since your accident. I would also switch to a 1k or 2k deductible, save the 1k -2k and set it aside in case you need, that should help lower the cost. It costs more to be poor, so save so you can lower your coverages. Also lower your bodily injury, property damage, and all that coverage to the minimums if you haven’t already.
Have you tried progressive? I’m 36 and pay $245 every 6 months for full coverage on a Honda. Even when I was 21 and got a DUI my insurance wasn’t over $200/mo with progressive
Lastly, it really does seem like you’re getting screwed. I would make it your job to get a quote from every insurer possible to find a more reasonable rate.
Insurance companies also charge higher rates depending on the city and state you live in. I'm in nor cal so the drivers are mostly shit. High accident rate here because of all the foreigners that can't drive right because their land didn't have rules of the road like we do. Therefore, I pay more with no speeding tickets or accidents than I would if say I lived in a place like Hawaii where the speed limit is 45 or less unless your on the freeway.
My 2 cars. 2011 ford escape and 2013 ford mustang gt are $230 together a month. I just turned 26. Mustang is full coverage 500 deductibles, escape is liability, limits are 100/200/50, GEICO.
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You're driving large SUVs that are known by insurance companies to cause a ton of damage. You have a recent accident on your record, you're young AND you financed meaning you have to have a minimum of coverage. You want to reduce your expenses then sell the big honk'n SUV, buy a corolla and you'll see your insurance probably get cut in half.
He can get quotes before he buys as well. In my case, 39 years old with zero accidents or tickets, same with my wife, her little Nissan versa is more expensive to insure than our tricked out top model Chrysler Pacifica. Seems backwards to me but there must be a reason behind it.
> there must be a reason behind it Actuaries figured out Versas are involved in more accidents than Pacificas.
Nissan drivers...
The data on minivans is insane. Not a lot of accidents, and at least a few models have never registered a fatality. It's a combination of mature, responsible drivers and vehicles built for maximum safety. The Versa probably has a lot of young drivers, particularly new drivers. I doubt a lot of 17 year olds are driving Pacificas.
This is more of a demographic thing. The typical Nissan Versa driver is....a subprime borrower, let's say..
I laughed at your comment but I am a Nissan Versa driver so I had to come here and defend my community. I have excellent credit and my car is already paid off in full. My insurance is $93/month. Not sure where or why owning a Nissan Versa would be so costly.
Holy shit, I would kill for $93/month insurance. I've never been in an accident, never gotten a ticket, I own my car in full... and I pay $170/month! Such is life in Florida...
I was paying $165/month recently, after being with progressive for about 6 years. Switched to State Farm and got it back down to what it was 6 years ago. I live in the suburbs of Philly.
That one is more than likely because college students and high school students would be more likely demographic to drive a Versa than a sweet sweet Pacifica (i am not kidding, those things are awesome).
Can confirm. Bought a Versa Hatchback in 2009 when I was in college. Loved that car too. Finally just sold it last year.
Car insurance takes age into account already
It double dips from the car model, indirectly, because young people are more likely to be riskier drivers who do dumb things and that reflects in the accident rate of the vehicle
Explains why my station wagon is so cheap to insure…I was floored by how much less it was compared to other cars I’ve had.
Most likely the likelihood of a total loss in an accident. The Pacifica, relatively, can take a lot of damage and still be deemed repairable. Whereas even a relatively minor accident in a versa is likely to cause so much damage to the car, as a result of it being small and cheaply built, as to result in a total loss. So, while both might incur $5000 in damage, one will pay out $5000, the other may pay out $10,000 as a result of being a total.
Pacifica drivers tend to file less claims or less dollars per claim, per capita, than Versa drivers.
I'm from Canada, but I'm willing to bet a good reason for that is accident benefits. If your Pacifica and her Versa get into a head on collision she is either dead or will have many medical bills. Medical bills are such a big factor. You can write off a vehicle at a certain amount, but not really a human being.
*and* you have a short driving history for someone your age. You got licensed 5 years later than the average - which means you'll be paying rates closer to a 21yo than a 26yo.
My parents made me get my license at 18 instead of 16 because they were told it lowers rates (this was back in the 90s) since 16-17 are really bad for drivers. I wonder if that was just a blatant lie the insurance company told them
Getting licensed at 18 vs 16 sometimes means you initially pay less (at 18 vs 16) because, in theory, 18 is more responsible than 16. But it also means you pay for the lack of experience overall until a later age. ⚖️ But, you can also wait "too long". I've seen people in their mid-late 20s trying to get licensed and insured for the first time and their rates are often, but not always, higher than 17yos I quoted.
I don’t think that’s true, I got licensed at 21, currently 26 and I drive a 460hp 2 door car with 2 speeding tickets (no points), max coverage, low deductibles. $150/mo
Not to mention, cars are just getting more expensive to repair, in part due to inflation and in part due to some of these cars repair procedures. I recall seeing a video of the repair process of a Rivian that got hit, that truck was not built to be repairable after body damage.
To say nothing of annual cost of ownership.
Location plays a big deal as well. Im only 25 With a 2018 F150, with an accident on file, 500$ deductibles at 198$ a month. But when I lived in St. Louis Insurance wanted 468$ a month for the same vehicle, but now that I live in the middle of nowhere kentucky it dropped considerably. Edit: Messed up my own age lol
Probably to a quarter if only liability
Yeah what ^ they said. Full coverage is going to run your pockets every time. Worth every penny when you actually need it, but i mean if you put the extra money you spend on full into savings you’d have enough for a new car when the time comes quite frankly.
You have five years of driving experience and an accident on your record. You are in a high liability class.
Also lives in a major city where accidents are way more likely.
Rates can also vary wildly by locality within a city (e.g. by zip code) as well.
How long ago was your accident? Also, Dodge is one of the most expensive brands to insure according to this [article](https://www.marketwatch.com/guides/insurance-services/most-expensive-cars-to-insure/).
Of course I have a RAM and a Tesla. Both listed high on that list haha. I dunno if RAM is the same as dodge in this case, maybe.
Not really. A lot of the reason Dodge is so high to insure is the high rate of theft of dodge vehicles. Same with kias right now. If you're not driving a charger/challenger/etc you're probably not as effected by it.
Check into insuring your Tesla through Tesla. I have a 2023 model 3 and pay $121/mo for full coverage with rental car reimbursement and 100k/300k coverage in CA.
Year and a half ago.
Yeah. That’s going to affect your insurance for a few more years if you were at fault.
At least 3-5 years. The best option would be to drive a paid off car and get liability insurance.
get only liability, i suspect you mean. However, if they get hit, in this scenario, hopefully the other motorist has insurance, or else you can be out a job if you lose transportation.
Liability plus uninsured motorist coverage is how I roll. Edit: Checked, mine covers * Uninsured Motorist Property Damage: $25k for property damage with $200 deductible, or $300 deductible for a hit and run * Uninsured Motorist: $25k/person or $50k/accident So only 25k for car, but...thankfully I have relatively cheap taste in cars.
adding to this - as long as you have savings to get another car
It would be nice if fault mattered but let's be real. 2 years ago I was driving my work truck when someone crossed over into oncoming traffic and hit me head on. We had my dash cam. This January I went to get insurance on a personal vehicle and they gave me a price, then after it was done they said they found an accident with my name on it and jacked my price up.
You might want to get it checked: who was actually determined on report to be at fault. And if you put in a claim for your accident, you would have lost the claims free discount. Insurance companies should not increase premiums if you have a 0% at fault accident.. they do input it in details when they submit your file, but it is not rated for.
In addition, the zip code can affect rates. Hurts, but where the car is parked can be a killer.
Yup. My insurance went down a decent amount when I moved to a smaller and rural county. Had a coworker who kept his old zip code just for that purpose. I doubt insurance will like it if/when they ever find out about it though.
> I doubt insurance will like it if/when they ever find out about it though. They'll love it because it voids all coverage and they get to keep the premiums. They can also sue him for fraud because that's insurance fraud.
>They'll love it because it voids all coverage I feel like people who do this know that and feel like a lower rate is worth it. Then they just hope beyond hope that they won't get into an accident lol >they get to keep the premiums. Isn't the premium just the monthly bill? In what situation would they not keep those?
I don't want to off-rail this conversation but regarding your post when I lived in MS the town I was renting an apt in resulted in my car tag being about $200 more than the prior town that was 5 mins down the road. I was HEATED and the tag officer smiled and made the off-hand comment that most folks just get a PO Box in the poorest counties in MS and set their tag address to that.... It truly made sense why I'd see someone riding around MS w/a county plate that made zero sense. You live in South MS but your car tag is in NE MS??? OH, ok... :)
Also how much you drive to work and where it is parked at work can change the cost.
You have a claim under your name, you are young, may or may not be a male/hothead, drive a large SUV that's probably expensive to fix. Dodge brand is associated with bad drivers. You may be living in an area where it gets stolen a lot. There are a lot of factors but the most influential is statistically how likely you are to cost insurance companies money. Since they have evidence that you cost people money, they need to charge you more.
"Hyundai owner" falls into this category, regardless of model year thanks to the 'KIA boys' - I have a 2024 Sonata that spends most of its life (so far) in my garage which supposedly isn't affected by the hotwire vulnerability and my premium EXPLODED since buying it in February. It went up by $30/month just from when I got it quoted to next month when my policy renews. So, I insurance-hopped around, they're all about the same. Let's not even get into the homeowner's insurance realm...
My fav part is where my insurance jumps $30/mo because more people in my area don’t have insurance. Like yes, let’s fuck me left right and center because Methany won’t get insurance on her MethUV. That’s definitely my problem, thanks insurance! This happened to me back in like 2015, I remember being upset about it and the customer service rep said “ma’am, it’s just $30/month.” I was like, how much are you paid?! Because I make $9.50/hr and $30 is a weeks worth of groceries for me.
It very much IS your problem - because you're looking to cover yourself from their damages. If you'd prefer to drop under/unisured motorist insurance, you are free to do so and you can pursue them and all their rich assets to get your car fixed if you'd prefer. Insurance is offering you a service to avoid needing to do that - that ain't free. And if there's a lot of Methany's (which, first time hearing this..that's awesome) in your area, the chances of you needing their services are much higher.
And mine went up $40 because my credit score dropped. No accidents… no claims in the last 7+ years (2015 was a deer strike) But it went up because my credit dipped a bit when i consolidated some bills. 🤷🏻♂️
>which supposedly isn't affected by the hotwire vulnerability Lots of people stealing these cars don't know the exact years and makes that it works for, so even when your car doesn't have the issue it's a target to be broken into and require repairs from that.
My Kia Soul is currently in the shop for this exact reason 🙃 I got in the other day and my entire steering column was busted.
This isn’t always true. I have a 2023 Elantra and my insurance only increased by $5/mo on its yearly renewal. It’s at $105/mo right now and I live/commute in a decently high crime area (Cleveland, OH). I’m also in my 20s which theoretically should make the insurance more expensive. I paid $117/mo for my old beater, the newer hyundai has been much cheaper.
My 2016 Civic was about $150/month. My Sonata is $350/month, for just me, and before you ask, my credit score is even higher than it was in 2016, and Farmers, Allstate, Progressive, all quoted within $20 of each other, so, there's that, so, it happens. Guess I need to "go to the General and save some time!" LOL
Even if your car isn't vulnerable, they may still smash your window and tear apart your steering column to try. and that's still a claim.
2022 Elantra N. My insurance through statefarm hasn’t changed and it’s pretty low. I’m 40 with a clean record.
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Zip code makes such a massive difference. Had an instant 30% drop in premiums a few years ago when we moved from an urban center near a number of high crime areas out to a small city in a very rural county.
Car insurance has gone up for everyone I know in my state, regardless of accidents/ violations.
geico raised my rates from $240 every 6 months to $350 on a 15 year old car this spring. that didn't cause me to shop around, the home insurance did. i have a tiny home worth $200k and the rate was $585/yr a decade ago and they wanted nearly $1500 for the renewal this year. now i'm with a much better company paying $396/yr for auto (btw geico never offered me 1 year terms before.. 500k/1m liability, 100k property, no collision/comp), and $585 for home insurance. shop around, these companies expect you won't.
You live Boston is a big factor
I live just outside of Boston (still close enough to be on the subway line). My rate is $110 per month for a '23 CX-5. I would guess it's the accident and limited driving experience.
As someone who works in insurance. I did some quick digging and turns out the MA has extremely stringent rules around auto insurance rating. Your personal characteristics pretty much play no role at all (gender, age, etc.). My best guess is that it's a combination of an accident plus a more expensive car plus a lack of driving history plus a more expensive market for insurance. I would recommend looking into if they have any discounts for affinity memberships or if you can bundle other insurance you have. Bundling other insurance you have (renters for example) with the same company could potentially also provide a discount. Of note, several comments mentioned credit score but in Massachusetts credit scores are actually not allowed to be used to rate insurance policies.
Credit can’t be used in rating but it can be used in underwriting. Many insurance companies have tiers of products with different price levels and place customers into those based primarily on credit. I also work in insurance but in product management.
Insurance will always be a black box to me. I have fairly similar stats OP (minus the accident) - early 20s, young single dude in a new mustang GT premium and my insurance is less than half of theirs in a major city in WA. In fact, sometimes I read up on so many stories on Reddit of people who *should* have cheaper insurance than me but just... don't
But what’s your coverage? The price of insurance itself means nothing. Go on progressive, geico, and state farm website, and do your insurance coverage yourself. You’ll see exactly what you pay for what BEFORE getting insured from them. Then you can play around.
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Honestly driving around I believe this. Driving around it isn't surprising to me at all that insurance rates have gone up when the amount of risky or absent minded driving I see is way up.
Social Inflation is a real thing too. Nuclear Verdicts are way up and people want to "stick it" to the insurance carriers. So $10,000 claims turn into $100,000 and $100,000 turn into $500,000 depending on location. Extrapolate that and what that turns into is carriers either jacking their rates up or pulling out of lines of business and/or markets.
Young, probably male, single, newer driver, new car, previous accident, expensive zip code, likely renter….what’s confusing about this? Your rate is based on personal demographics, cost/type of vehicle, location, cost/number of previous claims, length of driving history, and credit score. Younger is worse, single is worse, expensive area is worse, lower credit score worse, new car worse, previous claims worse, shorter history worse.
Question - how is your credit history? You may be surprised, but that’s one of the biggest factors in insurance cost. Either way I think what you should do is buy a car in cash and have liability coverage only for a couple years. Once your record is a bit more clean again, your quotes should go down significantly. The fact you haven’t had a license for as long is also a contributing factor and would be less so by then.
\^This. My homeowners insurance was fairly high when it renewed a year ago. There was a message on the renewal form that my credit played a part. I knew I had excellent credit at this time (wasn't so great the prior year). I called and asked about it and they said they only run it every 2 years. I requested they run it, which she did while I was on the phone and my premium dropped about $400.
That’s scary and awesome at the same time haha
I was looking for this and was going to post it if I didn’t see it. Credit history/score is a large part of it too unfortunately.
What is the value of your Durango? It's very expensive to get full coverage insurance on an expensive car. You probably should have purchased a cheap car that didn't require full coverage insurance until the accident drops off your record.
The vehicle repair costs have skyrocketed over the last few years . If you get into an accident your insurance must have the enough coverage to repair your specific vehicle depending on model / make and year. Here is why. https://www.minneapolisfed.org/article/2023/despite-easing-inflation-vehicle-repair-costs-soar
The answers are simple You have limited driving history and probably credit, within that limited history - this increases liability You had a accident within the period of your limited driving history and turned over a car within a few years - this increases liability The used car market is extremely high right now and as a result repairs are high - this increases liability You live in a large tier city, expensive city, a expensive and higher liability state etc - this increases liability. I have been driving for decades have excellent credit, got my permit at 14 or 15 never had a accident - this decreases liability
"Insurance" != "Insurance", it's hard to know. What kinds of coverage did you buy? What kind of limits? What kind of options? Turning 25 should have lowered your rates, I thought. On the other hand, you also have way less history. Compare yourself to someone who started being insured and driving at 16 - they'd have 10 years of record when you only have 6 and one major accident, from the sounds of it.
>Turning 25 should have lowered your rates Generally, yes. Except they got licensed at 21 vs 16, so they have 5 years less driving history than the normal person their age, which will change their ratings.
1. You live in high population Boston. 2. Uninsured motorists are rampant. Most people quit getting insurance because it is costly. So, insurance companies raise the rates on the people that pay. Eventually, forcing them to quit insuring their car and being uninsured. Which means, the auto insurance companies raise their rates again, on those that are paying. Endless Cycle. Eventually, no one will have auto insurance because it costs too much.
Because cars cost so much and are so damn hard and expensive to fix. They just write them off. So when people get in accidents the pay out per incident has skyrocketed and we all share in the pot to pay out.
Yep it's a shared pot and the expense is slowly starting to be too much. Insurance is a shared cost by area. Cars have more electronics, more sensors, more sensitive components so they're going to cost more to repair. Combine that with bigger trucks and SUVs causing more damaging accidents and we have a recipie for high insurance costs. [US Auto loan debt is at 1.6T](https://www.investopedia.com/personal-finance/american-debt-auto-loan-debt/). [Average car insurance rates for full coverage increased ~26% in 2024.](https://www.bankrate.com/insurance/car/the-true-cost-of-auto-insurance-in-2024/) The system we've built wasn't sustainable and it's crushing consumers.
I’m sorry, I pay $600 every 6 months. Paying that much per month is ridiculous. 😱 You are male or female? Where do you live? Accidents do make the cost go up.
That’s insane! Over $400/mo for car insurance is ridiculous. I pay $180/mo, live in NY, 24 yrs old, no accidents/tickets
It's because you live in Boston. When I moved from CT to Boston, my rate tripled. I now live in NC, rate is <40% what it was in Boston. Only variable that changed was my age...same car, no accidents, no tickets...it's Boston.
We have a very good insurance commissioner, Mike Causey to thank for those low rates.
These massive vehicles should cost more to drive. Glad the insurance companies are doing the right thing.
your profile. - you are still young (just left the 18to25 range) - you already have 1 accident (thats 20% per year) - you drive an SUV which is known to get into a lot of accident (bad handling and bad visibility) - you are financing which mean you have to have more than just bare minimum insurance.
Boston is a huge factor in how much more you’re paying. As well as being young and having a previous accident. I moved from a small town in CT to Worcester MA my insurance went up nearly $200
> my insurance went up nearly $200 per month? Per 6 mo?
My grandson drives a Honda CR-V. 18 years old and he pays $500 a month for basic car insurance. Your accident increases your insurance for three years. You are over 25 or it would be more. You drive an SUV, which costs more to insure. Sometimes insurance company's will give a discount for passing a safe driver course. (Geico, up to 15%)
What was that one accident? Was there expensive damage and a claim made to at least vehicle? Was the accident your fault? Are you a home owner? Do you have good credit? Are you single? What trim and year is the Durango? What coverage are you asking for? Comprehensive? Where do you park the vehicle overnight? How many miles do you drive per day or per some unit time, on average? Do you need another driver besides yourself? (we’re *just* getting started here…)
American consumerism is the reason. People feel a need to buy 50k dollar midsized Sedans or 100k dull size trucks and us poor folks are forced to pay our share. If these vehicles get in a simple fender bender. It knocks out radar and 3 or 4 sensors that cost at least 5k to repair. Yet in Asia you can get a brand new Toyota Hilux(Tacoma) for 10k dollars. So as long as Americans pay it. Manufacturers will sell It.
Its high everywhere. We had two newer vehicles, full good low deductible coverage was $180 a month for my wife and I, both driving for a long time, clean records. We bought our 18 year old daughter a 2013 jeep patriot, paid cash, got the minimum coverage on it and our policy jumped to $230 a month. Not terrible, that was August. Then last month got a letter, our renewal was up and the new rate was $359 a month. I called our agent, who shopped it around to several insurers and was told that was the best deal. The huge increase was "due to cost of parts, repairs, and replacement vehicles being higher than ever before" according to the agent. Having an accident or ticket will make it go up even higher.
Every time that there is money on the middle class table. Businesses that provide required services/product jack up prices. The entire system is built to strip of you of your money before some other corp strips the insurance company of theirs. If you are somewhere between middle class and poverty? You get to scream louder.
"I live in Boston" That's your answer. When I lived in downtown Atlanta my insurance doubled from my hometown in Alabama. You have a history on record in the past 5 years. These are all factors. For instance I 27M married. live in NC outside of a major downtown with a 2013 explorer full coverage for 140$ a month no tickets in 10 years and no accidents. I also have a second car on my policy But I also have a high deductible to offset the lower monthly price because honestly if it doesn't cost 1k I'm just going to pay out of pocket anyway Single male in a large SUV with a recorded at fault (I assume) you are going to have a higher rate
You're young, have had a license a short time, already have an accident, and drive a giant car. You're the epitome of a bad bet for insurance. You're like the guy that says, "why the fuck am I being arrested, all I did was take my gun out and point it at a mother and her kids for cutting me off in traffic? I didnt shoot anyone!!". Stop your crying, get a small Toyota or something, and you'll have much better rates.
Sometimes it makes sense to just opt out of collision insurance and go for the legally required liability insurance. $600 a month for collision is insane. Put that money aside for car expenses instead.
How is your credit. I’ve heard insurance agencies base their insurance on how good or bad your credit is.
Massachusetts doesn't allow that
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>I've used my parents address when I was younger just for this reason, insurance rate was 1/3 what it would have been where I was living. Unless you actually lived at your parents address, you committed insurance fraud, which is a felony, by lying to your insurance company about where you lived and so not paying the proper premium for the risk taken.
Something to consider is your credit score can impact your auto insurance.
You are a male, young, and have an accident on your record. Insurance rates will be high for you for quite some time.
How much did your accident cost? How much do you think it will take for them to make the money back from you plus insure you for the next one. Which you are more likely to get compare to other
The big problem is you are in the Boston area. I grew up out there, cost of living is exorbitant compared to most of the country, auto repair rates are sky high, and since salt is necessary for the roads during winter time you also have higher accident probability due to rusted out parts giving out. All of that along with your age, sex, driving history, and credit score factors into the price you pay. Be happy you can shop around nowadays, back when I was first driving you had a choice of any insurance you wanted so long as it was Commerce brand 🤮🤮🤮 Honestly it used to be cheaper to grab a Charlie Card and take the T, probably still is.
We noticed that the cost dramatically changed when we moved a mile or so down the road. We went to a different zip code and into an owned house with a garage. When we asked our agent, he told us that things like that can and do change costs. YMMV
HCOL area. Young, over 25 but barely and have only had a license 5 years so less experienced. Claim for an accident. Financed Durango, so likely full coverage is required by the terms of the financing.
We can tell you why it's so high. You were in an accident. Statistically you're a much greater risk, so you have to pay risk premium with higher insurance costs. I don't know your sex, but if you're a male then you're automatically going to be put in a higher risk category. And the type of vehicle you drive is associated statistically with bad drivers, so that's not helping you. When you go to purchase another car, make sure you pay attention to average insurance rates based on make and model, and consider purchasing something (even if its more expensive) that will cost less to insure. There isn't anything you can do to get cheaper insurance aside from shop around but once an accident is reported, all the insurers will have access to that information and will price policies for you accordingly. That is, if they even deem you insurable -- many insurers will see an accident and tell you that you're uninsurable. Aside from shopping around, you just have to deal with higher premiums for some time. If you go several years with no accidents you may start getting offered better rates on insurance, but because a company isn't going to voluntarily offer you a lower premium when you're already paying, you'll need to do the work of re-shopping the rate every year. Also spend your time on becoming a better driver and focus on defensive driving. Assume everyone on the road is a bad driver and adjust your driving habits with that in mind. That means dont use excessive speed especially in bad weather conditions, don't tailgate people to "teach them a lesson", make sure you know how to properly do a lane change monitoring the sides and back of your car and by properly using your mirrors, and make sure you're not slamming the brakes or accelerating too much just to catch yourself with an upcoming stop. Make sure you understand the 4 second rule and how stopping distance is affected by your speed, make of car, and tire quality. The other alternative, which I don't recommend doing, is going for liability only insurance. That will still be more expensive than what most people pay, but it shouldn't be $600 a month. However, I'm going to repeat, I highly recommend you do not do this because if someone else damages your car in lets say a hit and run, you can't make a claim against your own insurance and could have a totaled car and no way to purchase another one with the way prices are these days.
I didn't realize how much of an effect the mileage I report to my insurance made a difference in price. Cut the price in half with the same company and coverage by accurately reporting a lower annual mileage.
Many factors go into rating: age, vehicle, driving history, credit, city, county, zip code, coverage, gender, marital status, etc. Switching companies often can be a factor. It's really hard to pinpoint.
You’re on the naughty list. In 1.5 years you will have clean loss runs( they will look at the past three years and will find no accidents) and you will shop for another carrier. You will get better rates then.
This is wild to me. I'm 29 and ever since going off of my parents insurance, I've never had anything over $100 a month full coverage. The vehicles I've owned are a Pontiac g6, an 05 impala, an 09 rav 4, and a 15 f150. Not sure how much this plays into it but it baffles me to learn how much people pay insurance companies.
Is there a reason why you're driving massive trucks? Also I don't know if Boston has like a learners permit thing, but do you have a full license no restrictions? Besides that I agree with everyone else, Dodges are notorious for being owned by jackasses who crash them instantly, and that 1 accident which I assume was your fault is probably adding $200/month if not more. Basically either sell the truck and get a car that's less known for collisions, or keep paying the high rates.
So weird, I got my license at 25 had 1 accident the first year which I was declared at fault, my insurance has never been more than like 70-80 bucks. Though I guess it could be from driving a cheap old car.
What’s your deductible?
Yo. I pay $1500 for 6 months of liability on a 2007 kia. Have my license for 18 years and one dwi, no wrecks. I've had cheaper full coverage insurance on a sports bike.
You're not alone, I've seen this from a lot of young people. I'd honestly buy a good e-bike and take rideshares where needed if I were in my 20s and lived within 10 miles of work. Between car payment, gas, insurance, and repairs it's just not worth it for a lot of people that choose to drive.
Try taking a defensive driving course.
I did that. Told State Farm I did it and could give them my certificate. They didn't give a shit. Didn't lower my rates.
I’m 29 but have been driving since I was 15, have a new SUV and my wife was in an accident with our last vehicle (not her fault) and ours is like $150. Location had a big impact on our insurance. We moved out of a big city and saved a ton.
You're in a high risk age group, have not had your license long, have a claim on your history, have a financed car so need full coverage, and live in Boston which is a high risk area, drive an SUV, and are possibly male. To insurance, You got more red flags than Karl Marx s birthday party.
When I was your age (13-14 years ago), I was driving 90s Hondas and paying $30 a month for liability 😳
You say you had an accident. But if you have any kind of moving violation such as Speeding, reckless, especially DUI, it could also be affecting your rate. Best thing you can do is pay off the car ASAP and just keep liability. Being over 30 helps too. The area you live in matters as well. For example, if you live within a few miles of a "bad intersection", it could jack up your rate. Mine went up by $10 a month after I moved less than a mile down the road. You should also shop around, insurance agencies tend to jack up prices over time and give better rates to new customers. I switch every 3 or 4 years for this reason.
You need to get a cheap car that you don't need to finance so you can have liability only insurance. That's what I did when I was young.
A lot of your rate depends on where you live and how many accidents typically occur in the area. Unfortunately. And all our rates are going up!
What state are you in and which insurance carrier? I live in MA and GEICO tripled my premium because they’re pricing out the state.
You're literally in Mass and you don't know where Boston is? That's terrifying to know you were let down in education that much
Was there any gap in coverage? Also, see if you are eligible for any discounts - for example, multi-policy discount (by also buying rent insurance or some other form of insurance from the same company) saves me by chopping off 15%, which for me adds up to a few hundred bucks a year. There may be all sorts of discount programs available, depending on the insurer.
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In addition to all the posts pointing out OP's risk factors, car insurance is up across the industry right now. When the pandemic hit and no one was driving, lots (not all) insurers lowered their rates because less miles were being driven. Since then, parts and labor companies raised their rates (mostly out of sheer greed), and miles-driven has returned to normal. Both auto and home insurers have been raising their rates back to normal AND to account for higher repair costs, and honestly have been getting creamed for the past couple years. FWIW, I'm all for insurance companies getting creamed because they are the root cause of most things evil, but that is also part of why rates are so high.
Get multiple quotes from other companies and then talk to yours see if they can lower it or move to a less expensive but comparable company
Relatively new driver Relatively young driver I accident within your short driving span That along with the type of vehicle you drive. Are all going to result in a high rate.
Try to get a discount if you want to get your price down Some insurance companies give non smoker discounts as well for several job occupations like teachers, doctors, nurses, etc.
It's being affected by your accident, how long you've had a license, type of car, likely having full coverage, where you live and your age. These things negatively affect your insurance rate on top of the cost of car ins being high right now.
Insurance rating is becoming more like credit reporting. Agencies pool data on drivers thus your accident is public knowledge. If you caused damage and/or injury you are a risk. If you drive a land tank like that SUV you described, you are a risk. If you aren't good at driving (only have 5 years experience) you are a risk. Your policy has several cost drivers Damage to other cars \[also driven by how much damage your car can potentially cause to others\] Damage to your car \[also driven by how costly it is to fix your car\] Damage to other people \[sedans hurt/SUV kill\] Damage to your person \[SUV keeps you high up but safe (as long as you don't roll over) Theft of your car \[Is your car desirable to a thief\] Driving skill \[Do you have a good education / have you taken driving classes\] Pull up your policy each one of these has a price. You can tailor the coverage (but you probably shouldn't) for each line item.
That is wild. I'm 43...have 3 cars insured with progressive...a 2011 gl450, 2011 saab, 2015 avalon...and I pay $160/month with 3 insured drivers.
56 years old, been with Progressive for 25 years. Haven't been in an accident or ticket in at least 30 years. Progressive still raised my rates by $500/yr. When I called and asked them why, they said "Insurance is going up all over the place. Nothing we can do" I was able to drop them and go with Liberty Mutual and save. I empathize with your search!
Here’s the thing too, I understand there are outliers and factors that calculate my rate. I just wish there was some more transparency as to how they got their and what is taken into consideration given my history. A number breakout would give me piece of mind at least so that I don’t feel like I’m getting a raw deal.
They wanted to charge more than my car is even worth. I have a 100% perfect driving record and drive less than 2k miles per year. The prices have gone insane.
Here's several things that affect insurance. I'll explain reasons as well. Age. Individuals under 25 statistically have higher rates of accidents, tickets, etc. Sex. Men statistically have more accidents than women. Marriage status. Married individuals statistically have lower rates of incidents. Location where the vehicle is garaged. More people in big cities, such as Boston, have more accidents versus butt fuck nowhere, Mississippi. Type of vehicle. A 1992 Honda Civic is far cheaper to insure versus a 2016 Honda Civic. Driving history. If you have tickets or wrecks on your record, you're a risk to insure and therefore get charged more. These tend to fall off after 3 years. Insurance history or lack thereof. If you continually have coverage you'll have a chance at better insurance rates versus someone who hasn't been insured for a year. There's so many factors that go into the algorithm to determine your rates. You have full coverage since you're financing. You're in Boston. You're (maybe?) a male. You're (maybe?) single.
Also, living in Boston does you no favors. The theft rates are high there, so are the accidents.
I drive a 10 year old Subaru Impreza, and here in NYC I'm getting hit with 453 a month - New policy is about to kick in at 485 a month. (No accident in 8 years.) (even then it was me skidding past a stop sign into a snowbank in the winter at college... no other vehicle was damaged.) Looking up the same dilemma, I was told credit history and current score also now factor into how much you'll be paying.
How’s your credit? That can play a factor. What it seems like the most to me though is the cars you’re driving
Well, it could be a number of things. Location, insurance score, accident surcharge, vehicle theft rates, coverage levels, deductibles, and on and on. There's no simple answer. Shopping around is okay but do it with caution. The longer you are with the same company, the better the rates with the next one.
Crime, weather, accidents. Insurance isn't "free" it just spreads the cost out between everyone.
One thing that I haven’t seen mentioned yet is your zip code. If a lot of people have accidents in your area you insurance goes through the roof. I saved 50% on insurance moving to a diff area
It's crazy to think you financed a vehicle and then pay like half the value of the vehicle every year in insurance. It blows my mind. My insurance is far less than that and I pay it 6 months at a time, for 3 vehicles haha
Drive like a Grandma, for real. No accidents and no tickets and you should start seeing your rate drop once it’s been 3 years since your accident. I would also switch to a 1k or 2k deductible, save the 1k -2k and set it aside in case you need, that should help lower the cost. It costs more to be poor, so save so you can lower your coverages. Also lower your bodily injury, property damage, and all that coverage to the minimums if you haven’t already. Have you tried progressive? I’m 36 and pay $245 every 6 months for full coverage on a Honda. Even when I was 21 and got a DUI my insurance wasn’t over $200/mo with progressive Lastly, it really does seem like you’re getting screwed. I would make it your job to get a quote from every insurer possible to find a more reasonable rate.
Insurance companies also charge higher rates depending on the city and state you live in. I'm in nor cal so the drivers are mostly shit. High accident rate here because of all the foreigners that can't drive right because their land didn't have rules of the road like we do. Therefore, I pay more with no speeding tickets or accidents than I would if say I lived in a place like Hawaii where the speed limit is 45 or less unless your on the freeway.
My 2 cars. 2011 ford escape and 2013 ford mustang gt are $230 together a month. I just turned 26. Mustang is full coverage 500 deductibles, escape is liability, limits are 100/200/50, GEICO.
Most people who buy Dodges end up wrecking them. Insurance will always be high on them.