Insurance Cost High compared to other vehicles

[edin702]

My Previous 2014 Kia Soul which was a theft magent was around $230 every 6 months.
My 2024 new Lariat is $450 every 6 months.

But yet on the same insurance plan my parents 2022 F350 and 2017 C7 Corvette is even cheaper than my Maverick.

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[inline_five]

My Previous 2014 Kia Soul which was a theft magent was around $230 every 6 months.
My 2024 new Lariat is $450 every 6 months.

But yet on the same insurance plan my parents 2022 F350 and 2017 C7 Corvette is even cheaper than my Maverick.

You Kia Soul had no value.

Don't know about the F350. How old are you?

 

[edin702]

You Kia Soul had no value.

Got a good check for it at least when it was totaled. But yeah it was worth about 2K. But why would the expensive F350 and Corvette even be cheaper?

 

[Master Blaster]

If you don't have any claims on the policy then you need to switch companies really badly. I was amazed at how big the spread is among companies - clearly some company statisticians are out to lunch. I noticed this problem when I had an 02 and an 03 Chrysler Concorde and the 03 was costing me 30% more from Intact for the same vehicle. My insurance is through CAA (AAA in the U.S.) and is paid every time I hit 1000kms (620mi), and it went up this year from $48 to $54. For me, that works out to about $700/yr with $2M coverage on most events and $500 deductible, etc. That's just about half of what I was paying for a 2013 Fusion from the same company. We're actually in a high-theft area with 10 vehicles stolen on this street alone last year, but the phone-home updates that the Mav does overnight makes it almost impossible for the creeps to steal it and not be easily tracked. That being said, I think my rate went up a bit because of the very easy writeoffs when rear-ended, but I'm not sure.

 

[Milwrdfan]

There are many factors that come into play with insurance costs for a specific vehicle. Vehicle repair costs, primary driver assignment risk category, driver history, and many other factors as well. Trying to compare an 11 year old Kia to a new Lariat is really an apples to oranges type of comparison.

 

[FreedomPenguin]

There are many factors that come into play with insurance costs for a specific vehicle. Vehicle repair costs, primary driver assignment risk category, driver history, and many other factors as well. Trying to compare an 11 year old Kia to a new Lariat is really an apples to oranges type of comparison.

What’s crazy tho is

my 2013 Scion tc is 40 mo, if I add Mav its 79 together, 39 increase

if I replace tc, its 105 month.
But that’s bc they assume you’re driving each vehicle 50/50

Edit nvm I misread quotes I guess it’s 76 a mo for Maverick for me. I currently pay 39 for Scion, not mad

 

[edin702]

There are many factors that come into play with insurance costs for a specific vehicle. Vehicle repair costs, primary driver assignment risk category, driver history, and many other factors as well. Trying to compare an 11 year old Kia to a new Lariat is really an apples to oranges type of comparison.

But then again, why is it cheaper for me to be insured on a 2017 C7 Corvette? Heck of a lot more risk on that than a Hybrid Truck.

 

[FreedomPenguin]

But then again, why is it cheaper for me to be insuranced on a 2017 C7 Corvette? Heck of a lot more risk on that than a Hybrid Truck.

I think it’s regional dependency

Maybe they’ve had a lot of hybrid totals out in your area due to wrecks and part shortages

maybe the c7 owners don’t tend to wreck their babies

 

[edin702]

I think it’s regional dependency

Maybe they’ve had a lot of hybrid totals out in your area due to wrecks and part shortages

Its rare to see a Maverick here. Not very popular here. Broncos and F150's though are around every corner haha.

 

[Roman Canadian]

The first year of insurance on the Maverick cost me $4440 a year. Second year, $3,800. That's Toronto.

 

[FreedomPenguin]

The first year of insurance on the Maverick cost me $4440 a year. Second year, $3,800. That's Toronto.

You joking? I’d shoot myself
I’d rather bicycle to work

You guys make like half mil a year there or something?

 

[FlyGuy09]

You joking? I’d shoot myself
I’d rather bicycle to work

You guys make like half mil a year there or something?

Are you in the U.S. though. Remember those prices are in CAD. Still pretty high, but if if you put it into context with USD money, it’s not as painful.

 

[Gullzway]

But then again, why is it cheaper for me to be insured on a 2017 C7 Corvette? Heck of a lot more risk on that than a Hybrid Truck.

You said your parents were insured on the Corvette. Big difference depending on age/driving history.
" my parents 2022 F350 and 2017 C7 Corvette "

 

[FreedomPenguin]

Are you in the U.S. though. Remember those prices are in CAD. Still pretty high, but if if you put it into context with USD money, it’s not as painful.

Correct. USA.
My 25 lariat hybrid awd is quoted 76 month, or 465 usd / 6 month.

but that’s far cry from yours. I’m sorry you guys pay so much

I’m in Ohio, I paid $150,000 for my house. Things are jusr cheaper here, granted it’s like 280,000 usd now in worth

 

[Roman Canadian]

You joking? I’d shoot myself
I’d rather bicycle to work

You guys make like half mil a year there or something?

No joke. A two-bedroom condo here rents for $3,500 a month.

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