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

[jaybird]

Read the original post you quoted. We are supposed to be talking about the cost of LIABILITY insurance. It has nothing to do about the cost of repairing the new Maverick.

Actually it does.

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[PlantMan]

I just dumped GEICO after 25 years since they declined to renew my homeowners after my first ever claim last year ($1600 storm damage). I have State Farm insurance now. My 250/500/100 liability is $185/6 months. We have so many uninsured/underinsured drivers in Maryland that my 250/500/100 uninsured coverage is $99/6 months.

 

[Robert C]

I just dumped GEICO after 25 years since they declined to renew my homeowners after my first ever claim last year ($1600 storm damage). I have State Farm insurance now. My 250/500/100 liability is $185/6 months. We have so many uninsured/underinsured drivers in Maryland that my 250/500/100 uninsured coverage is $99/6 months.

You made a claim on your homeowners insurance for $1,600?
I keep my deductible as high as possible, I think it's $5,000 or $7,500
as I know if you ever actually make a claim you will be dumped and may not ever be able to buy homeowners insurance again (at a reasonable price).
So if I make a claim it's going to be because the house burned down or a tree fell on it for 10s of thousands of dollars in damage.
$1,600?
Homeowners insurance is for total catastrophes and liability (people tripping and falling, etc.).
You're lucky you could find another insurance company that didn't mind a guy making a $1,600 claim.

 

[plnc0792]

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?

I totally agree, I have 3 vehicles, 2020 Ford EcoSport SES, 2022, Jeep Cherokee Trail hawk and a 2023 Ford Maverick Lariat Hybrid. The premium for the Ford Maverick is $150 over what I pay in premiums for the other vehicles; that is also without the supplemental Spousal coverage with State Farm.

I was getting good rates with State Farm for a several years (over 65) for the other cars before I bought my maverick last November. I am aware that insurance rates for hybrid vehicles are typically much higher because the insurance industry assumes you will be driving many more miles with a hybrid. I researched insurance for hybrids before I bought the Maverick. I will be shopping around to get the best deal if possible. Good Luck!

 

[MakinDoForNow]

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.

80. Also in Texas you can only renew DL for 4 years instead of 6 years. You also cannot renew online but have to do so in person. DPS renewal agent can ask you to many different questions such as "please walk 90 feet without stopping to rest". Some questions are just to test your attention span and possibly to be able to remember what the question was? They also have access to things like how many times your red warning screens are activated on your new "connected" vehicle. I saw on TV where someone questioned why his insurance went up 21% and was told his insurance company had requested his vehicle history and was provided with a 206 or 260 (I don't remember which as I am 81 tomorrow and have to renew my DL tomorrow) page report of his vehicles activities.

 

[MakinDoForNow]

Yes but are “ like a good neighbor”. , or “your in good hands with ,,,,,,,,”

In 60's in my Grandpa's lumber yard the delivery driver who happened to be "hare lipped" and talked with difficulty had a hail claim. When he got back from trip to file a claim and was asked how things went he put his hands together palms up and said "Done gib me dat sheet"! Will never ever forget that!

 

[ArtP]

Actually it does.

??????????

 

[Ozarkbeard]

Can we please not do that here?

Let's not drag the forums down with unnecessary political BS that is going to completely derail any conversations to be had on the Maverick.

I don't care what any member's political leanings or voting record is. I don't want to hear about any of it. I'm here to talk about my Maverick.

THANK YOU

Read the original post you quoted. We are supposed to be talking about the cost of LIABILITY insurance. It has nothing to do about the cost of repairing the new Maverick.

Liability is higher. If you hit any modern vehicle and it's your fault it costs the insurance company more to fix the vehicle. So liability costs more.

 

[todd92]

Liability is no higher than any of the other 4 cars I own.

 

[Bruce8858]

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?

In Florida 22% of the total drivers are uninsured or underinsured. Florida only requires 10k on property damage and PIP insurance, nothing else. Many insurance companies have either stopped writing policies or pulled out of the state altogether. Other states require that drivers have more liability insurance.

We have too many drivers on the road without insurance. Florida is also a no fault state. If an uninsured driver hits your vehicle this means your insurance company will have to pay for the damages if you have collision insurance in your policy.

Just recently a lot of the insurance companies in the state have raised their rates in order to cover losses from prior years. I currently pay over 1.5k per year for full coverage on my 2024 Ford Maverick. I live in the state of Florida also.

It also takes 6 months on average from when the state is notified that the driver has no insurance coverage until they suspend their license. There are many drivers driving without licenses because of DUI’s and too many accidents.

Our state has quite a few of elderly drivers that don’t have a clue how to drive, not to mention the tourists who don’t know where they are going.

 

[Jeff D.]

80. Also in Texas you can only renew DL for 4 years instead of 6 years. You also cannot renew online but have to do so in person. DPS renewal agent can ask you to many different questions such as "please walk 90 feet without stopping to rest". Some questions are just to test your attention span and possibly to be able to remember what the question was? They also have access to things like how many times your red warning screens are activated on your new "connected" vehicle. I saw on TV where someone questioned why his insurance went up 21% and was told his insurance company had requested his vehicle history and was provided with a 206 or 260 (I don't remember which as I am 81 tomorrow and have to renew my DL tomorrow) page report of his vehicles activities.

James, I don't know if Minnesota has those type tests or checks for folks in their eighties, here. They might.

Good luck with you're renewal, tomorrow. I hope it is uneventful and you're good to keep on truckin' for another 4 years.

 

[Bruce8858]

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.

Yes the magic age is 70.

 

[MakinDoForNow]

My son who is insurance adjuster has people making claims frequently that are below the 1% or 2% or more (to save on premium expense) deductible on a policy that does not have replacement cost rider (to save more money). After calculating losses and depreciation if no replacement rider a $50k damage may still be below the deductible and cannot pay them anything while trying to pay everything possible. He had one last month where the claimant was trying to collect hail damage for the third time on a hail totaled roof. The damage to shingles was aged plus a little new damaged but when he checked photos taken when roof was previously paid for had same damage in both sets of pictures pictures. Insurance company does not owe for a previously paid for roof which was not replaced.

James, I don't know if Minnesota has those type tests or checks for folks in their eighties, here. They might.

Good luck with you're renewal, tomorrow. I hope it is uneventful and you're good to keep on truckin' for another 4 years.

Thanks, I should be okay this time.

 

[White Thunder]

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?

Try State Farm or AAA. Remember your Chevy was 20yrs older.

 

[ArtP]

Liability is higher. If you hit any modern vehicle and it's your fault it costs the insurance company more to fix the vehicle. So liability costs more.

I'm not complaining about higher liability insurance rates year after year. I'm trying to rationalize why my Maverick is a greater liability risk (according to the insurer) than the 2004 Colorado it replaced.

I chatted with AARP Hartford Underwriters today and got the following answer to my question about the cost increase (I only have liability coverages):

I replaced a truck with a 3.5L engine and no safety devices except driver and passenger airbags with a 2.0L engine Maverick with all the safety features available. I didn't realize it was a performance model. Believe me, the Colorado was a beast to drive.

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