How much should I pay in auto insurance?
Mar 21, 2015 at 8:58am Edited
Check out Amica - I shopped around our homeowners plus 2 cars, and they were by far the lowest price for the best coverage. Not sure if they'll give you discounts for all of those features, but worth seeing what they'll offer.
Do you have teens or just yourself and husband? Sounds high for two cars/two adults.
We have NJM which always seemed like a bargain until we added our teens to it. I've decided to keep it, figuring that it is a temporary phase and they are a good company, but I know we could get lower premiums.
There is also a lot of variation depending on deductibles, coverages, etc.
We have NJM which always seemed like a bargain until we added our teens to it. I've decided to keep it, figuring that it is a temporary phase and they are a good company, but I know we could get lower premiums.
There is also a lot of variation depending on deductibles, coverages, etc.
Thanks. I'm wondering if what we're paying in line with what one should expect? Decent credit, no accidents, no teens, drivers with clean records. Mint informed me that most people don' t pay so much. Geico claims it's giving us tons of discounts
We have Nj manufacturers. Paying under 2K a year for 2 newish cars. Are you sure it's 430 a month? Or 6 installments of 430 for the year? Because that adds up to about 5k a year- crazy high
I am paying somewhat less than you are with three (oldish) cars and two young drivers (female, ages 19 and 23) in addition to myself and spouse with NJM. The cars are 2005 and 2002 Honda Civics and a 2000 Grand Caravan.
i pay $197 month for just me - no tickets- garage kept -'97 xk8 Jag (low milage policy) and '08 CTS cadillac
I guess with two drivers your 430 looks about right
I guess with two drivers your 430 looks about right
Mar 21, 2015 at 10:36am Edited
420x6 sounds about right. 420x12 sounds like time to pick up the phone and start getting quotes. Also see what the difference is by dropping comprehensive on the 2003. Depending on the policy's terms you might be better off stashing away the savings.
ETA: Oops new207040's post reminded me that we do have very low milage/yr discount on one of the cars. Still when I had to use the 2nd car to commute daily, the rates did not go up by much.
ETA: Oops new207040's post reminded me that we do have very low milage/yr discount on one of the cars. Still when I had to use the 2nd car to commute daily, the rates did not go up by much.
For NJM, isn't it restricted to certain groups? I.e., not everyone can purchase it?
You have to work for a qualifying employer. It's a fairly long list, but you are correct that not everyone can purchase it. Once you have it, you do not have to remain employed by them. They tell me that since I have my kids on my policy, they will also be eligible when they get their own separate policy.PurpleMonkeyDshwashr said:
For NJM, isn't it restricted to certain groups? I.e., not everyone can purchase it?
Policy period is 6 months, automatically renewed. We pay every month.
With 2 cars, one new, two adult drivers, collision, comprehensive and the highest limits the company will write, such as 1 million liability, we pay less than $3k per year. Hence, something is very wrong with your rate. Suggest that you try liberty mutual or others. It helps to also have homeowners with the same company. I assume that you live in SO or MWD. Otherwise, any comparisons are worthless.
We pay $228 a month with USAA. 2 adult drivers, collision and comprehensive coverage with $500 deductible. 2012 Odyssey and 2005 Subaru Forester.
$266 for two adults, one teen driver, 2 cars (one old, one new; teen does not have her own car). High deductibles but comprehensive, collision, high limits of liability. Liberty Mutual. We used to pay a lot more until I told them I was shopping around. They then wrote new policy for us with a huge reduction. They told us that because we had had insurance with them for so many years they were willing to rewrite the policy.
sac said:
You have to work for a qualifying employer. It's a fairly long list, but you are correct that not everyone can purchase it. Once you have it, you do not have to remain employed by them. They tell me that since I have my kids on my policy, they will also be eligible when they get their own separate policy.PurpleMonkeyDshwashr said:
For NJM, isn't it restricted to certain groups? I.e., not everyone can purchase it?
When my then-boyfriend (now husband) and I moved in together, I made sure we got a joint policy ASAP, since he worked for the qualified business. I know we'll be together forever and ever, but it's also good to hedge your bets!
We pay $55 a month for 2 adults(both spotless records for 10+ years) with metlife through the wife's workplace with collision on both and comp on mine. Catch is that we both drive less than 5000 miles a year and the cars are a 1995 and 1993.
We have GEICO car insurance too. We pay about $125 a month for 2 cars, 2 adult drivers, $500 deductible. We have a '97 VW and a 2012 Subaru. You are definitely paying too much.
Have you tried comparenow.com or compare.com? Even if you don't pick one of their insurers, you can use them as leverage against your current one.
Wow. $5000+ a year sounds very, very high. We pay around $1500 a year, 2 cars- 2004 Camtry, 2002 BMW. Collision, comp and all the standard, required elements. I think we selected the $750 deductible this year. We had the $500 last year and paid maybe around $1600. No restrictions like driving less than a certain amount per year. We are in our early 40s with no violations for at least past 15 yrs or so. It went down a little when we moved from Essex to Union but I don't think we've ever paid ore than $2000 for the year in NJ. We have NJ Manufacturers Insurance.
For a 2014 sienna, we pay about 1400 a year for 2 adult drivers, no teens, full physical damage coverage, 1000 deductible, and high limits. We switched from amica to State Farm 2 years ago. The auto rate was about the same but we saved a bunch on our home insurance.
Shanabana, I would definitely shop around. Let us know what you find!
Shanabana, I would definitely shop around. Let us know what you find!
Mar 22, 2015 at 4:25am Edited
I just tried getting an alternate quote from compare.com. I knew it was a gamble, but after putting in all my information (which I now regret), the site was unable to give me a quote for a policy similar to what I have now.
I have 2 adult 50+ drivers, one 19yo currently living 100+ miles away. 2011 Outback, 2010 Highlander. No accidents in the last 5 years, no points. Current Liberty Mutual Premium is 3376 (280/mo) for the year, but I have to check if this includes the 'distant student' discount - they adjusted it last year. I'm calling them tomorrow to have them walk me through the policy, and will also get a quote from NJ Manufacturers since I work for a qualified company. The addition of the teen plus the changing of the cars at about the same time brought the annual premium up by $1K.
We have had claims over the years, but no accidents. Only one glass claim in the last five years, and a couple of stupid driveway accidents further back than that, resulting from distracted drivers.
I have 2 adult 50+ drivers, one 19yo currently living 100+ miles away. 2011 Outback, 2010 Highlander. No accidents in the last 5 years, no points. Current Liberty Mutual Premium is 3376 (280/mo) for the year, but I have to check if this includes the 'distant student' discount - they adjusted it last year. I'm calling them tomorrow to have them walk me through the policy, and will also get a quote from NJ Manufacturers since I work for a qualified company. The addition of the teen plus the changing of the cars at about the same time brought the annual premium up by $1K.
We have had claims over the years, but no accidents. Only one glass claim in the last five years, and a couple of stupid driveway accidents further back than that, resulting from distracted drivers.
NJM also gives a dividend every year, which is always a pleasant surprise.
Are nj public school teachers considered state employees for NJM purposes?
I feel mildly accomplished. I called Liberty Mutual, told them that I am eligible to get quotes from NJ Manufacturers' and Metlife through work. Kelly the customer service rep said that NJ currently has a new rating system for insurance, and could I provide a few more details. 15 minutes later, my annual premium is now 2574 from 3376 per year. I'm still calling NJM this week (today or tomorrow) though, so stay tuned.
BTW, I have to say that Liberty Mutual has always been good to us, service-wise. We currently have our homeowners' insurance with them, as well as an umbrella policy.
BTW, I have to say that Liberty Mutual has always been good to us, service-wise. We currently have our homeowners' insurance with them, as well as an umbrella policy.
There are so many variables that it is hard to just look at a number and say if it is too much or not. How many cars, how old/new are the cars, how many drivers, what type of coverage, how much coverage, how high of a deductible, how long have the drivers been licensed, what do their driving records look like, how many claims have been filed. I'm sure there is more than that, but you get the idea.
I agree with you, spontaneous. The only way to compare is to have insurance companies price the declarations from your current policy, and then proceed from there.
Ms_Confidential said:
We have Nj manufacturers. Paying under 2K a year for 2 newish cars. Are you sure it's 430 a month? Or 6 installments of 430 for the year? Because that adds up to about 5k a year- crazy high
NJM used to be so awesome. Same with USAA. They have both become far less competitive. We have moved to geico and have two adult drivers with clean records and three cars for about $230/month.
You need to compare line by line coverage. Dec pages for sure.
OK, so I called NJM, and their quote (not yet including any distant driver discount for the college student was just about $100 over my new Liberty Mutual quote. For that difference, I will stay with Liberty Mutual. My next step though, is to have them both check into my homeowners' and umbrella policy to see if I can bring that premium down.
Comparing auto policies is easy to do but I find comparing home policies so complex . Too many variables and riders and exclusions/inclusions. I am so hesitant to switch - plus premiums have been stable unlike auto insurance
In order to add a comment – you must Join this community – Click here to do so.
Is there any insurer that discounts the fancy newer safety things I bought with the Subaru? We got eyesight in front and back, back-up visuals, auto brakes in emergencies, lane line sensors, blind spot sensors, and have airbags galore.