Insurance Cost High compared to other vehicles

[Roman Canadian]

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.

4440 Canadian dollars = 3700 US dollars

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[FlyGuy09]

4440 Canadian dollars = 3700 US dollars

Are you sure? Current currency conversion has it at about $3100 USD.

 

[icegradner]

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

That's crazy high. Are you young, like in your 20's? I pay around $1500 Cdn a year for basic and optional coverage (including replacement cost) here in Vancouver, no price change other than replacement cost from my previous vehicle from 2008.

 

[Roman Canadian]

Are you sure? Current currency conversion has it at about $3100 USD.

Yeah, I just checked the bank rate.

 

[Roman Canadian]

That's crazy high. Are you young, like in your 20's? I pay around $1500 Cdn a year for basic and optional coverage (including replacement cost) here in Vancouver, no price change other than replacement cost from my previous vehicle from 2008.

My driving record started in 2002. In Canada, my licence has been valid for 6 years, but my driving record is fully recognised.

I had to work very hard and hook up a lot of people and acquaintances to get this great offer of 4440 per year. Banks and various companies demanded 6240.....

 

[icegradner]

My driving record started in 2002. In Canada, my licence has been valid for 6 years, but my driving record is fully recognised.

I had to work very hard and hook up a lot of people and acquaintances to get this great offer of 4440 per year. Banks and various companies demanded 6240.....

You started driving one year before me. I guess the theft rings in Eastern Canada are hitting the rates up really high.

 

[Bob zimmerman]

Using the current exchange rate, your $4,400 is $3,038 today.

Looks like a lot of $1,600US rentals in Toronto all over the city based on a quick check on homes.ca
Bob

 

[todd92]

Insurance cost no different than any other car.

 

[KsuMax]

Maverick is actually the cheapest car I’ve had to insure in my decades of driving.

 

[Meeka]

That's crazy high. Are you young, like in your 20's? I pay around $1500 Cdn a year for basic and optional coverage (including replacement cost) here in Vancouver, no price change other than replacement cost from my previous vehicle from 2008.

Mine is $1800 a year full coverage and replacement, here in B.C. Canada. 24 Mav, and I’m 67, no accidents.

 

[dhaskit]

I just got insurance on my new 2024 Mav with the 'Lizard company' = $314 / 6 mo.
Full coverage with comp & Collision deductibles of $500
Tow, Roadside Assist, Rent Car.

My 2011 Dodge Ram 2500 4x4, with 211,000 mi, insured with StFarm = $460 / 6mo.
Identical coverage.

So no, I don’t think insurance on a new Mav is any more expensive. Less actually.
You should probably shop around a little.

 

[bobbyd454]

First time ever having a "ding" on my driving record. Turns out it was for a cracked windshield in 2021. My insurance company added money to my policy for that, 1st time ever I was charged for window breakage. $495/6 months is acceptable. But it will go up in June, guaranteed. And without cause.

 

[TheSEARCH]

In 8-17-23 got mav XLT Hybrid . Had 2020 Ford Ecosport SE AWD. My Gieco insurance went down a 100 bucks every 6 months . My guess at the time was the Mav has auto braking the Ecosport did not.

 

[KrayzieMav]

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

this is exactly the reason. My 2023 GR Corolla costs more to insure than my 2024 z06, which literally costs more than 3x as much and is a hell of a lot faster. When I got a quote on a Mustang, it was 3 times as much for insurance because Mustang owners drive like assholes.

 

[icegradner]

Mine is $1800 a year full coverage and replacement, here in B.C. Canada. 24 Mav, and I’m 67, no accidents.

Are you using ICBC for your optional coverage? You should look into third parties optional coverage, saves me a few hundred a year. I get a discount for multi-vehicle coverage, and for having a hybrid. 39 no at fault accidents. I know location can also change the cost, I would think it would be lower in the interior.

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