Why the #!!%$ is Liability Insurance so Costly for the Maverick?

[Jeff D.]

I just renewed our auto, motorcycle and umbrella policies. They did go up, but not greatly.

In December I dropped my 3/4ton Ram and added the '24 Maverick Lariat. The price difference was minimal, but it was only a few months from renewal, so?

Autos & Umbrella 2023 = $1840.16, 2024 = $2029.67 ~ 10.3% increase
Motorcycles 2023 = $ 545 , 2024 = $560 ~2.8% increase

As others said, I think I would recommend shopping around.

One thing I did notice, my Mom is in her 80's and still drives. She's no accidents and a clean record, but WOW her car insurance is high compared to my wife and mine.

Our agent tried to find her some saving thru other companies, but they were all high. There must be a magic age where rates start increasing exponentially.

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[bbhaag]

You guys wanna hear something really crazy? It's actually cheaper to insure our 2023 Mach-E Performance than it is our 2022 Maverick XLT.

Let that sink in for a second. A vehicle with a 3.6 0-60 time with 1/4 mile times in the low 12's is cheaper to insure than a Maverick.

Everything else is equal. Both of us are listed as primary drivers on both vehicles, our age is the same, both vehicles are driven a similar amount of miles per year......you get the gist. Something about the Maverick makes it more costly to insure.

 

[ArtP]

You went from a 20 year old 2004 Chevrolet Colorado to a brand new 2024 Maverick and you are wondering why the premium increased

Did you not notice that I am talking about premium only for liability insurance? I'm talking about bodily injury. Now there could be some logic that the Colorado can carry only 3 passengers and the Maverick can carry 5, but that doesn't affect the property damage part. Our Honda CR-V also carries 5 people, but the premium for liability insurance is much lower than the Maverick.

 

[Jeff D.]

ArtP, I looked at ours. For the liability portion of our premium, my wife's '20 Jeep Renegade was actually higher than my '24 Maverick. Jeep=$207.43 Maverick = $202.00

The comp for my Maverick was much higher than her Jeep, though, which would be expected I guess.

It is curious how all over the place these premiums are?

 

[Master Blaster]

Yeah, something is seriously messed up at your insurance company. You need to change insurance companies really badly, as you're being seriously ripped off. I used to have 99 and 02 Chrysler Concordes with only a plastic nose change between the two, but Intact insurance charged 50% more for the 02 for completely bogus reasons. Time to shop.
I'm in Canada, claim-free for >25 years and using CAA MyPace insurance, so YMMV. I would expect that if you're in the U.S, AAA or any good online provider would give you much better rates assuming that you are a good driver. Of course, having prior claims will make insurance very expensive from every provider.
I'm in a fairly high accident and theft area and I pay $258/yr plus $34/1000kms for a Lariat hybrid. That's going to total about $650 in Canadian loonies for me, or about $400 in U.S. dollars for the year. I'll bet that's a huge decrease from what you're being quoted by the big companies and also about half of the rate that I was paying for a 2013 Fusion. I think that my dramatic decrease in insurance costs is mostly due to the better safety features that insurance companies have been screaming for.

 

[Mavreezy]

I got a bill from my insurance company for additional premium to change my 2004 Chevrolet Colorado to the 2024 Ford Maverick. This is only for Bodily Injury Liability, Property Damage Liability and Accidental Death. The premium for these coverages increased 53% to insure the Maverick. On the other hand, they lowered the cost for these coverages on my Honda CR-V by 16%. Rates are based on the same coverage, same drivers, same annual mileage, and same address (crazy Florida).

Consider that my Maverick has safety features not available on the 2004 Colorado:
side-curtain airbags
knee airbag
tire pressure monitoring system
pre-collision assist with emergency braking
rear view camera
lane departure warning
lane-keeping aid
lane-centering
hill desent control

Are you guys driving your Mavericks so recklessly that you have super-increased the experience factors for wrecks and claims?

You're not the first person I have heard this from. I've read a lot of articles about the crazy insurance costs and doc fees that residents in Florida are being charged.

I also received a notification from my insurance provider (State Farm) that the insurance costs on my Maverick would be going up at the beginning of the year. I wanted to call my agent and give her a piece of my mind, but I realized it's not her fault. They blamed it on the cost of doing business in California. Now I have to cough up an extra $7 a month due to these idiots running the state.

The wacko politicians in California also had the audacity to raise the vehicle doc fees from $80 to $85. Greedy bastards...

 

[710-oil-614]

This is only for Bodily Injury Liability, Property Damage Liability and Accidental Death.

Consider that my Maverick has safety features not available on the 2004 Colorado:
side-curtain airbags
knee airbag
tire pressure monitoring system
pre-collision assist with emergency braking
rear view camera
lane departure warning
lane-keeping aid
lane-centering
hill desent control

To each their own but carrying liability only on a $26k purchase seems,...not the wisest choice.

Regardless - if you are only carrying liability the only safety feature you listed above that would impact your liability is the pre-collision assist w/emergency braking and possibly lane departure warning.

Otherwise they are safety features for the occupant of your vehicle - which your liability coverage is not concerned with.

EDIT: Liability coverage for bodily injury or accidental death could apply to a passenger in your vehicle.

 

[Scupking]

My Maverick ended up only being $8 more a month with more coverage than the 2008 kia I traded in for it. You need to shop around. Every few years I shop around when the rates start going up. I do the same for my electric supplier, cell phone service and internet. Companies expect people to stay with them even when rates go up because most people are lazy to shop around for new lower rates.

 

[Darnon]

To each their own but carrying liability only on a $26k purchase seems,...not the wisest choice.

Especially when the minimum property damage liability coverage is only $10k in Florida.

 

[Grand Nat.]

I usually switch insurance company's every 2 or 3 years. Other wise they will slowly raise your cost even if your are accident free.

 

[pigsareus]

Just last week I switched my auto insurance from Allstate to State Farm, and saved almost 60%. This after 50 years with Allstate. Shop around.

HRG

had similar thing happen to me a few years back - had aaa and went to state farm - similar savings. Found out that if you've been with a place for a long time they get complacent and jack up your rates because they figure you'll (1) just shrug it off and (2) won't bother getting a quote from anyone else and (3) you're just a guaranteed regular customer. Does for sure pay to at least make an inquiry at another place

 

[pigsareus]

I got a bill from my insurance company for additional premium to change my 2004 Chevrolet Colorado to the 2024 Ford Maverick. This is only for Bodily Injury Liability, Property Damage Liability and Accidental Death. The premium for these coverages increased 53% to insure the Maverick. On the other hand, they lowered the cost for these coverages on my Honda CR-V by 16%. Rates are based on the same coverage, same drivers, same annual mileage, and same address (crazy Florida).

Consider that my Maverick has safety features not available on the 2004 Colorado:
side-curtain airbags
knee airbag
tire pressure monitoring system
pre-collision assist with emergency braking
rear view camera
lane departure warning
lane-keeping aid
lane-centering
hill desent control

Are you guys driving your Mavericks so recklessly that you have super-increased the experience factors for wrecks and claims?

possibly because the mav being a relatively new vehicle they don't have enough data on those things so they guess 'high'. My insur on my 22 mav is less than what i had on my '03 Aviator - the reason was that the Mav is safer than that old ride and it costs more $ to pay to get people fixed than it does to get vehicles fixed.

 

[Montana]

I usually switch insurance company's every 2 or 3 years. Other wise they will slowly raise your cost even if your are accident free.

The sad part is I spent an entire day shopping around and none of them beat my current coverage or the price. I was not expecting that. According to my family that switched to Progressive from USAA, they saved a ton of money. When I looked it was basically a "save up front" advertisement and then got to be more costly than my current rates. I checked Progressive, GEICO, Liberty, Farmers, State Farm and Allstate. I didn't bother checking after that. I felt I had wasted enough time. And this was all after my rates went up.

 

[Jah.]

Florida is a no fault state for car insurance . so you pay for all drivers on road no matter what .

 

[PapaRico]

I got a bill from my insurance company for additional premium to change my 2004 Chevrolet Colorado to the 2024 Ford Maverick. This is only for Bodily Injury Liability, Property Damage Liability and Accidental Death. The premium for these coverages increased 53% to insure the Maverick. On the other hand, they lowered the cost for these coverages on my Honda CR-V by 16%. Rates are based on the same coverage, same drivers, same annual mileage, and same address (crazy Florida).

Consider that my Maverick has safety features not available on the 2004 Colorado:
side-curtain airbags
knee airbag
tire pressure monitoring system
pre-collision assist with emergency braking
rear view camera
lane departure warning
lane-keeping aid
lane-centering
hill desent control

Are you guys driving your Mavericks so recklessly that you have super-increased the experience factors for wrecks and claims?

Those safety features have no bearing on liability(damage you cause to someone else's vehicle/property) They do help with comprehensive coverage, or so my agent said when I switched vehicles(2006 F150) What amazed me the most was windshield coverage. I had to go to a 500.00 deductible vs the 50.00 on my old Ford. Agent said it was due to the electronics that are run through the windshield.

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