Maverick Insurance Raised 30%

[HeyBales]

I thought all states are least require liability insurance or they should.any yers ago NJ had something where you would pay a fee to the state if you had no insurance. Now it's required.

Usually in those cases proof of insurance is required when you renew your registration annually to get a new license plate or plate sticker.

Guess what's flapping around on all kinds of tailgates around here since covid.

And even if someone wanted to get their renewal right - they buy a month at a time insurance (thanks General) which means you have what you need when you need it - and no longer than needed.
Despite being required.

Why so many hit and runs.

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[colinl]

interesting, what's the source for that and what's the 12 month period used?

groceries I believe are up considerably more than 1.1% at least, some specific groceries are much higher, and others have not changed as much, but I still have difficulty believing only 1.1% over any given recent 12 month period.

 

[HeyBales]

Hmmm, monthly for the remainder of policy after switch to Maverick (they kept same policy for benefits) about 50.10 (Rav4 on new one kept the $31).
New 6 month renewal now monthly 55.65.
11% increase after 3.75 months.
State Farm.
Clean record.

Let's not talk next year when the boy now 16 is driving and they count him on his own.
Oh yeah - he's paying for his, but I still wonder...

 

[Blitz-Hacker]

Just got the youngest boy off my policy. I have 3 boys (22, 27 and 30 years old) and all 3 of them totaled a car at some point. My rates were over $5000.00 a year at one point. Now my rates with my wifes CX30 and my Maverick are $1200.00 a year thank goodness. I feel real sorry for parents with young kids right now.

 

[Rcrew]

Before I ordered my 24 Maverick I called my agent to see what the insurance difference from my 17 Silverado. It was going to drop $2 per month. We both laughed and she said go for it!

By the time, 4 months later, I took delivery it ended up $20 more per month!

But I did receive a nice apology email saying all my State Farm policies were going to get a 20% increase across the board. Cost of doing business in California. Very hard to shop & switch auto insurance here because with home owners insurance its nearly impossible to go to a new company. None are writing new policies.

 

[LSchicago]

I just received my updated Insurance quote for the next 6 months and found the premium was raised ~33%. My agent told me that the primary reason was that the Maverick's Comprehensive Rating Group Code went up 4 levels from 014 to 018. Has anyone else experienced a significant increase in insurance?

No increase.

 

[Sykotyk]

I've had two totaled vehicles on my policy by a family member in a three month span. Though they're off my insurance now and I am down to one vehicle (the Maverick), my insurance is still only $240/3mo.

That's after paying out over $40k on vehicles who were probably only worth $10k each just five years ago.

State Farm already was reported as being one of the last insurance carriers to raise rates to cover the higher value of cars today. But they're still paying out the current values but charging for the older values. They're correcting that as annual policies renew.

 

[Guv]

These numbers aren’t the whole story. They need to be added to the previous amounts since this trend started.
I will not comment in any more detail to avoid being banned.

 

[gp1200x]

I live in NY and was paying $1200 a year for 3 daily driven cars....got rid of them when I got the Maverick. Maverick alone was $720 a year which took my by surprise...way more than I thought it would be. What is really shocking is I have two sports cars and one is a Shelby with 500 more HP and fully insured for more money and it is only $590 a year. Doesn't make a lot of sense pricewise.

Bad thing about NY is that you can't take insurance off cars that you only drive for 6 or 8 months a year but you can in states like MD...also makes no sense. NY is a ripoff.

 

[Guv]

I live in NY and was paying $1200 a year for 3 daily driven cars....got rid of them when I got the Maverick. Maverick alone was $720 a year which took my by surprise...way more than I thought it would be. What is really shocking is I have two sports cars and one is a Shelby with 500 more HP and fully insured for more money and it is only $590 a year. Doesn't make a lot of sense pricewise.

Bad thing about NY is that you can't take insurance off cars that you only drive for 6 or 8 months a year but you can in states like MD...also makes no sense. NY is a ripoff.

Have you contacted Hagerty or Grundy?
I have had several muscle cars insured through them with the only stipulations being, no track use or daily commuting.

 

[NextTruck]

I just received my updated Insurance quote for the next 6 months and found the premium was raised ~33%. My agent told me that the primary reason was that the Maverick's Comprehensive Rating Group Code went up 4 levels from 014 to 018. Has anyone else experienced a significant increase in insurance?

I will say that YES, everyone has seen substantial increases in insurance rates. It is not unique to the Maverick, it is in line with increases everywhere else. I also heard a story in the state I live in (mainly around a large city) that people are not bothering to have vehicles inspected, and are not renewing registrations since the little plate stickers are no longer required. No inspection, no reason to produce insurance and registration documentation. The report went on to say this is leading to vehicles with safety issues, and more non licensed, non insured drivers on the road, leading to more uninsured accidents. Who pays? Look around at cars in parking lots and when you are at traffic lights and you might find more expired inspection stickers than you would think. Yes the police have license plate scanners, but unless there is a warrant or a serious reason, it is not worth their career to pull people over for these issues. Wish I had a link to the story, sorry........

 

[NextTruck]

interesting, what's the source for that and what's the 12 month period used?

groceries I believe are up considerably more than 1.1% at least, some specific groceries are much higher, and others have not changed as much, but I still have difficulty believing only 1.1% over any given recent 12 month period.

Yea, I'd like to shop where this data source says groceries and college costs are only up a bit over 1%.

 

[Blitz-Hacker]

These numbers aren’t the whole story. They need to be added to the previous amounts since this trend started.
I will not comment in any more detail to avoid being banned.

I literally left this thread and went to look at the news on the world wide web and saw the article/graph on inflation and copied it. The part I laughed at is the car insurance supposedly went up 18% in the past 12 months which is what this thread was talking about. I did not even look at the rest of the items on the inflation list because we all know food has doubled in the past 12 months but no one will ever admit that in writing. One guy said on this thread that the insurance hike was do to the maverick crash rating someone else told me that new cars have very expensive headlights and tail lights so no such thing as a minor fender bender anymore. Who knows.

 

[Snox801]

well since MI is a no fault state it shouldn't make any difference that the at fault driver didn't have any insurance- that's on him - doesn't affect how your ins co had to pay for the damage that dude caused as your insurance was on the hook to fix your ride if the other guy had ins or not.

Yes but they also can not collect and share of the damages or my deductible.
but correct another reason no fault sucks why carry crazy insurance if everyone is responsible for just themselves.

 

[migraine]

I'm 61 and our State farm rates have gone up, so I spoke with our agent and she suggested we take an online course for "seniors" through the DMV and that would help lower our rates.
Now, I just need to remember what the course is called and where online to find it.

It does bother me that I have to ask my agent how to save money when it should be their job to educated us on discounts, etc in advance of use asking.
-Brian

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