04' XC Insurance rates?

[Too Tall]

We are taking ownership of a new XC in a week and just got a quote for $674.90 / 6 months!!!! This is Mrs. Too Tall's ins. co. and she has a clean record.

Pls. don't think me rude...but is that alot or am I just a newbie???

[MTM]

Too Tall, I pay about $645 for six months thru State Farm...so that doesn't sound too out of line. However I do get some discounts on my homeowner's policy for having both auto and home thru State Farm.

[AWD*V70XC]

My insurance is with Volvo and I only pay $900 a year. This gives me a replacement car, free glass, contents etc and allows me drive other cars on that policy. I guess as you have cheap(er) gas they have to get you somehow :)

[Raynald]

Insurance rates depend not only on your driving record, but also on the region where you live. I know for a fact that, as a small town resident, it costs less than if I was living (and working) in a big city. For CAD$575.00 per year, I feel lucky to have pretty much the same coverage as AWD*V70XC with a CAD$1,000 deductible. :)

[gibbons]

We are with Allstate Insurance, we have 4 cars, a boat, and our house with them. Anyway, when we exchanged our 97 Infiniti I30 for the 04 XC, our bill went down! I asked why, since the XC was worth so much more. They said that the major factor in their rates is actual loss, in both repairs and injuries. So yes, the car costs more, but the injuries sustained in an average crash are much, much less. Medical is where the big bucks are. They said that in general, Volvos are cheaper to insure. Whatever, my bill went down.

[dlr97]

Our policy is with USAA; we are in N. California and it covers our 2004 XC70 and 2002 Boxster, two drivers in 50's, very short driving distance to work (4 days/wk in the Volvo). 6 months is about $650.

We had a 2000 V70XC before the '04; insurance cost was about the same.

Dave

[barrysharp]

We use The Hartford Underwriters Ins Co. We have three Volvos as identified in my signature. The Annual 2004 premium is broken down as follows

1. '86 Volvo 745 GLE $265 (Liability only)
2. '03 XC70 $373 with $250/$500 deductible
3. '04 S60R $632 with $250/$500 deductible

We get discount for having our home also insured with The Hartford and we get further discounts because we've been with them for several years, have multiple cars insured, carpooling, anti-theft devices and have anti lock brakes. Our limits of liability are set higher than min required by law.

So as you can see we pay $373 per year for our '03 XC70. Incidentally, the annual rate for our '03 XC70 in 2003 was $326 !!!!

The S60R is newer and more expensive for obvious reasons. :D

I've yet to find an Insurance Co. that can beat The Hartford's rates -- even ones in the UK. :D

[Too Tall]

Good info. gents. I'm on it. I've been with State Farm for 23 yrs. and have 3 cars and my house ins. with them. Sounds like I could do better.

[Avid Edit]

Mr. Tall
Try living in Brooklyn..!!!
1700.00 pre annum... and that is cheap. House insured with the company as well.(Allstate)
I just can't wait till the kids get thier licenses'
Ouch.
Count your blessings...

[Low Tide]

Barry- how much Hartford Stock do you own to get rates like that?

I'm a Hartford advocate as well.... but at a rate closer to 3 times Barry's rate with a clean record and a 5 year customer discount. Then again, maybe the base is a bit higher here in the SF market.... who knows. When I called around recently, the quotes ranged from about $900-$1200 annually.

[don_chicago]

I live in northern suburbs of Chicago and have the insurance with AAA Club. I paid less than $500/6 months for a full coverage with $500/$500 deductibles.

[AWD*V70XC]

I have just heard of people in Ireland being charged between €4 & €6,000 a year - that's about 5,000 US$. But as was said earlier I think there is a lot of claims going on at the moment so this would account for such high rates.

Ireland is now like the US was about ten years ago, 'sue them for every penny' and there are people making a profession out of it. :eek:

[Ab_Fab]

Hi Gibbons,

Could not help but notice you stated that much of the car insurance cost is for the medical bills. Does this mean that in the US of A that car insurance also covers you for your medical bills if you have an accident.

Just curious as here in NZ car insurance is only for the car (and any other car or piece of property you may damage).

Cheers
Neil

[Too Tall]

...an update. So far I have 4 quotes lower than my current insurer. AAA was the best with Traveler's close second.

[barrysharp]

Hi Gibbons,

Could not help but notice you stated that much of the car insurance cost is for the medical bills. Does this mean that in the US of A that car insurance also covers you for your medical bills if you have an accident.

Just curious as here in NZ car insurance is only for the car (and any other car or piece of property you may damage).

Cheers
Neil

Yes - optional medical coverage is included up to a point and most people have it. It's called PIP (Personal Injury Protection). Here's aref on PIP as an example - http://www.metlife.com/Applications/Corporate/WPS/CDA/PageGenerator/0,1674,P1777,00.html

[barrysharp]

Barry- how much Hartford Stock do you own to get rates like that?

I'm a Hartford advocate as well.... but at a rate closer to 3 times Barry's rate with a clean record and a 5 year customer discount. Then again, maybe the base is a bit higher here in the SF market.... who knows. When I called around recently, the quotes ranged from about $900-$1200 annually.

Geeesh, you made me nervous so I double checked my insurance policy papers -- and thank goodness my stated numbers are correct. :)

Now why they are 3x less than yours is beyond me! Maybe occupation, miles driven per year, location, previous claims, car garaged or not, driving record beyond 5 years, children in the house or not, medical history (nothing is private any more), hobbies, education, etc, etc, etc all have some influence on the rates presumably.

I know what it is LT -- you drink too much California wine. I knew I'd get back at you for your comments about my $2 Chuck consumption. :D ;)

[Ab_Fab]

Thanks Barry,

Very interesting, very different from the setup here where car insurance and medical insurance are different and never the twain shall meet. Where does it end, do you have PIP with house insurance, boat insurance etc as well!

Cheers
Neil

[tgrumaj]

Too Tall
It's almost impossible to compare rates especially across states. Rates differ dramatically between states and within states (Boston vs. Springfield....Mass. vs. Indiana). The first rule of insurance is "shop, shop, shop...you can do that on the internet and by calling around to agencies. Try both captive agencies like Allstate and St. Farm and Independent Agencies that represnet many companies. Here's some advice that will work everywhere:

1) Take the highest deductibles you can afford on Comp. and Collision. Especially Collision. I'd suggest if you can afford an XC a 500 to 1000 ded is reasonable and will save you money vs. 100 or 250.
2) Don't pay for duplicate coverage. Towing for example. If you have AAA or certain credit cards you may already have this coverage, don't pay for it again in your insurance.
3) Look into Affinity programs. They aren't always the cheapest (the shop shop shop rule always applies) but some like the AAA program i(f you're a member) or the AARP Program (if you're a member) can be good deals sometimes. They aren't always the best deal though.
4) Put your car and home in the same company. Most offer additional discounts on both policies from 5% to 20% if you have them both insured in the same company.
5) Your credit score and your driving record are the two biggest factors. Assuming you have a clean record (no accidents or violation in the past 3-5 years - some companies vary on their experience period) and you have a good credit record you should be fine.
6) Ask the agent what "tier" you are being quoted and is it thier "BEST" price tier. Companies have various programs (e.g. Highly Preferred, Preferred, Standard, Non Standard, etc.). If you aren't in thier very best priced tier ask why not to see what is impacting your pricing.
7) Be sure you're getting all the credits you deserve. Most companies offer credits for antitheft devices (std. in your XC). Confirm with the agent you're getting the credits for Auto and Home together, etc. as shown above.
I'd suggest going to the internet (there are a ton of sites) and also check out Progressive.com. While thought of as a "NonStandard" carrier they offer good rates to good drivers and have a pretty good reputation in the industry. Their web site is also pretty easy to use.

Well that should do it..Don't skimp on the liability coverage....That's a bad way to save money. Suggest $300k and a $1 million umbrella policy. Liability limits increases are pretty cheap. All the cost is in the first $100k. Armed with this you should be able to get the best rate for your area, vehicles and driving record. Good luck. (PS I'd suggest rechecking rates about every 2-3 years...companies do change)

[Too Tall]

tgrumaj, you REALLY helped :) I had a heart to heart with my agent and she found all sorts of ways to lower my rate on this car and my other two cars. One item you may have comment on is to drop "PIP" coverage. She said that this is a personal choice and since I have excellent medical coverage through my job this is not absolutely necessary. Dropping "PIP" will actually retain some state minimum coverage for passengers.

Her quote has come down about $400/yr. ....so far.

PS - I followed your recommends regards liability and deductables.