Insurance Cost High compared to other vehicles

[William Buckman]

Since the Mav is a unibody and still new, the cost for repairs are enormous, (limited parts). Go in the search for wrecks, the cost for just replacing the front or rear bumpers is in the thousands. I've seen many totaled for what would be a repair for a truck with a separated bed.

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[Camdak]

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.

Yes, I agree and it is ICBC. Didn’t have time to check 3rd party, but I’m going to in July when it’s up. Also I will make less than 5000km’s. bigger savings!

 

[dochawk]

Count your blessings, guys.

Liability only on an '98 F-150 in Las Vegas, two 60ish drivers, discounts for clean claim history, and it's about $200 month! That's Amica; it's better than anything my agent was able to come up with, and she's been amazing fo both my clients and me over the years.

Now, it is a lousy neighborhood, but still . . .

Apparently, though, it will only be about a time and a half that for the Maverick, for full coverage.

And model matters a lot. When I got my '98 Crown Victoria years ago, it was the absolute least expensive thing to insure. It could take a hit, was frame construction, and people just didn't buy them to drive like maniacs.

And on my classic policy, the prior car I added had $50/year for liability, but three or four times that for my '93 Cadillac Fleetwood. When I mentioned that, they told me that they tend to get heavily modded and have more accidents.

 

[TwentyFiveLariat]

My 2025 Lariat is costing me less than the 2016 Edge Titanium I got rid of. Have top of the line coverage and pay $1400 a year, no tickets, no accidents, and have defensive driving discount.

 

[Roman Canadian]

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

For 1600 you can rent only a one-room apartment from 1960, without washing machines and dishwashers and with stinky corridors. There is a high probability that there will be cockroaches in this building. Most importantly, it will be a terrible neighborhood.

Normal housing, I repeat normal housing, in Toronto starts at $2300, but it is very small. Two rooms in a nice house and a normal neighborhood will cost at least 2800.

Now my friends have had their rents raised to 3500 and they have to move. Parking in their building costs 300 a month. They found in the neighboring buildings for 150 and they go to get their car every morning to save 150 bucks.

 

[FreedomPenguin]

For 1600 you can rent only a one-room apartment from 1960, without washing machines and dishwashers and with stinky corridors. There is a high probability that there will be cockroaches in this building. Most importantly, it will be a terrible neighborhood.

Normal housing, I repeat normal housing, in Toronto starts at $2300, but it is very small. Two rooms in a nice house and a normal neighborhood will cost at least 2800.

Now my friends have had their rents raised to 3500 and they have to move. Parking in their building costs 300 a month. They found in the neighboring buildings for 150 and they go to get their car every morning to save 150 bucks.

I’m sorry that sucks

 

[Milton Jeff]

I can't believe some of these insurance rates some of you are paying, $1263 Yr for me. 1 at fault accident 8 yrs ago. This includes replacement value and 2M liability. Just 30 min west of Toronto.

 

[Roman Canadian]

I’m sorry that sucks

Normal life in Toronto.

 

[Cherokee]

You Kia Soul had no value.

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

age, area, driving record, income, male or female, licensed kids in the house, so many factors.
my 2024 Maverick AWD Lariat cost $40 a year more than my 2021 Bronco Sport Base did.

 

[Roman Canadian]

I can't believe some of these insurance rates some of you are paying, $1263 Yr for me. 1 at fault accident 8 yrs ago. This includes replacement value and 2M liability. Just 30 min west of Toronto.

Two years ago, a friend of mine was in a minor car accident. He had recently moved to Toronto. When you change your residence, you need to notify your insurance company. The new price became $780 for one month - $9360 for a year. He declined and after much searching found insurance for 420 per month - 5040 per year. He is very happy with)))).
Prices are in Canadian dollars.

 

[Cherokee]

I can't believe some of these insurance rates some of you are paying, $1263 Yr for me. 1 at fault accident 8 yrs ago. This includes replacement value and 2M liability. Just 30 min west of Toronto.

2024 Mav AWD 2.0L Lariat with full sticker new replacement for the next five years and a 2004 Ford Escape on the same policy. $987 per year $250 deductible.
Clean driving record, I do not live in a city.

 

[Roman Canadian]

I can't believe some of these insurance rates some of you are paying, $1263 Yr for me. 1 at fault accident 8 yrs ago. This includes replacement value and 2M liability. Just 30 min west of Toronto.

I see we're not too far apart. What's the name of your insurance? What's the monthly payment? What are the terms of your policy? Thank you!

 

[Scott Asheville]

Just a thought. You know how the sticker has a slider showing your fuel economy relative to similar vehicles (same class)? It'd be cool if they came with a similar slider for average insurance cost.

And yes, I understand the intricacies of insurance. Where you live, how old you are, your driving record and loss rate, state insurance commission rules, the loss rate for that vehicle, and on and on. But still, an average could be calculated. Heck, the insurance industry might even be willing to do the calculations, as they have an interest in you buying a low-loss rate vehicle. It's just information.

 

[KrS]

Just north of London ON. $335/month but that's for the Maverick and a 2021 Kia Sorento SX. With my wife on the Sorento.

 

[vandeda2024]

age, area, driving record, income, male or female, licensed kids in the house, so many factors.
my 2024 Maverick AWD Lariat cost $40 a year more than my 2021 Bronco Sport Base did.

Agreed. I just changed my insurance today from a '15 Prius V to a '25 hybrid AWD Maverick. With the same coverage, the premium increased $63 for the year. Fortunately, my area is fairly inexpensive as we only pay about $1400 a year for the Mav and our Sienna.

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