Might not be able to take Maverick delivery

[Jman79]

You can't do that. Virtually all states require insurance on a tagged and registered vehicle. Also, If there's a loan and vehicle payment, the lienholder/bank will also require insurance on the vehicle to protect their interest...
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OP posted a situation and was looking for solutions. It's a suggestion, not every suggestion requires a legally reviewed manual worth of instruction .

All through college in NY, I dropped my insurance, and registration end of summer. Then started it again when coming back beginning of next summer. Yeah there are gotchas like don't park in the street and a trip to DMV to turn in your tags. If I could figure it out at 17, I think OP can for his state too.

Do you tell your friends they can't leave the house when it snows because they will trip, fall, and be seriously hurt? Its pretty negative and very unhelpful to start a post with "You can't do that" why not "Keep this in mind if you do"?

There is a messed up internet culture that makes people come with hard negative wording that is also incorrect . We should be combatting that and moving toward enabling the solution vs shutting everything down. If not we all should just give up and become Wall-E style couch ridden shut ins.

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[05FordGT]

Hey buddy, you DEFINITELY need to shop around. When I ordered my XLT Hybrid, I never called until I had a VIN. When I called my agent, she told me, the price difference between the prior car (a 2019 Fusion Energi Titanium) and my new Maverick was literally $19 more...A YEAR!! She couldn't believe it either.

And my company is not some major national brand. It's a local company in my state. It would be in your best interest to shop around. You may wind up saving way more than you would have ever thought.

 

[MaverickEVwouldBeNice]

Thanks! Good idea to rotate them in and out. Yes it seems dropping the insurance premium down a lot.

It is tesla insurance FYI. It is already cheaper than several other insurances I quoted to cover Tesla. So I have to deal with it even though I agree with you it is crap logic for the 3rd car premium jump.

Our insurance company (USAA) has a "storage" feature. We keep the vehicle on the policy, but list it as being stored and not driven. If we do need to use the vehicle, we just have to let them know 24 hours in advance.

 

[Johnkn]

I put one of my vehicles in storage status for more than half a year with State Farm. Vehicle remains tagged and registered.

Yep, Not all policies have a storage clause, but if that's an option it could work.... we've leveraged that while TDY OCONUS

If the insurance is 'rotated' (dropped) as was suggested, there could potentially be as many re-registration, inspection, and tag fees as the OP could save with the lowered insurance.



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[MaverickEVwouldBeNice]

You can't do that (and keep the vehicle registered and tagged).

Virtually all states require insurance on a tagged and registered vehicle.

Also, If there's a loan and vehicle payment, the lienholder/bank will also require insurance on the vehicle to protect their interest...


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Rotating vehicles in and out of insurance doesn't automatically mean taking them off the coverage.

Our insurance company is also our bank (USAA), and they let us put vehicles in storage status, even if we have a loan on them. They are covered in case of theft or natural disasters while in storage, but the comprehensive and collision coverage is significantly discounted. during that time.

 

[Johnkn]

Rotating vehicles in and out of insurance doesn't automatically mean taking them off the coverage.

Our insurance company is also our bank (USAA), and they let us put vehicles in storage status, even if we have a loan on them. They are covered in case of theft or natural disasters while in storage, but the comprehensive and collision coverage is significantly discounted. during that time.

Rotating in and out of coverage does mean taking them off coverage, that's literally what the phrase states.

But 100% agree that storage status if available might work...




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[MaverickEVwouldBeNice]

Rotating in and out of coverage does mean taking them off cover, that's literally what the phrase states.

But 100% agree that storage status if available might work...




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Interesting, I automatically thought about putting them on storage status when I read the first mention of rotating them. I guess it isn't a feature that is that common.

 

[MaverickEVwouldBeNice]

As others suggest, shop around. Insurance rates vary greatly.

My Maverick is my least expensive vehicle with State Farm. Because of the extra safety equipment. Less expensive than the 2018 and the 2011 Ford Escapes. My cost with State Farm for the Mav is about the same as Gullsway. I was pleasantly surprised when the Maverick came in about $50 less every six months than the 2018 Escape. Didn't see that coming.

$1200 every 6 months for Maverick insurance?

May want to shop around. I pay $353 every 6 months with State Farm for my 2022 Lariat Lux hybrid.

Are you paying for full coverage? I did have to take out a loan for mine, but I am tracking that many on this forum were able to pay cash for their vehicles, which would allow them to not have full coverage. (Although I don't see why one wouldn't select that for a brand new vehicle anyway.)

I'm currently paying slightly over $500 for six months full coverage for my Mav, and that is with multi-vehicle discount and a slew of other discounts.

I always select higher than minimum coverage, though. $25,000 doesn't cover sh!t these days.

 

[TonyS]

Are you paying for full coverage? I did have to take out a loan for mine, but I am tracking that many on this forum were able to pay cash for their vehicles, which would allow them to not have full coverage. (Although I don't see why one wouldn't select that for a brand new vehicle anyway.)

I'm currently paying slightly over $500 for six months full coverage for my Mav, and that is with multi-vehicle discount and a slew of other discounts.

I always select higher than minimum coverage, though. $25,000 doesn't cover sh!t these days.

Full coverage, $100 deductible and much more than State minimum on the liability coverages. I'd have to look it up but at least 100K and maybe 200K. I do have multiple cars and homeowners as well with State Farm.

As has been mentioned on this forum before (I think, maybe it was somewhere else) State Farm had some pretty hefty increases this year because they lost a ton of money on underwriting. But I believe I went from $325 for six months a few bucks over $400 for six months with the last premium.

The OP should shop around. $1200 is way more than normal.

 

[gp1200x]

I noticed large increases in both homeowners and car insurance for 2024. Out of the norm at least 10% on both...attributable to inflation and states with excessive damages from storms. This can't continue from year to year. I reduced some of my liability amounts to bring the costs down some. I live in NY and we are subsidizing places like Florida etc that had huge loses and will have even more in the next few years. Many companies need to drop those states and have them get specialized insurance policies and force them to pay more for insurance if they choose to live in areas prone to consistent flooding and storm damage. I live in upper NY well above sea level in an area with with minimal storm damage compared to areas close to the sea.

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