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surreyman
Surreyman  (Level: 260.9 - Posts: 2770)
Mon, 24th Aug '09 7:43 AM

US CAR INSURANCE COSTS

I've just seen an ad headlined "The average American pays $157 a month for auto insurance".
Can't be true, surely?
I pay little more than that for a year in UK.

smokydevil
Smokydevil  (Level: 163.0 - Posts: 5381)
Mon, 24th Aug '09 8:06 AM

Dunno, I pay $68 dollars a month for full coverage. Sounds like it is still far higher than what you pay. I wonder why that is???

donden
Donden  (Level: 112.5 - Posts: 2127)
Mon, 24th Aug '09 9:20 AM

I pay $65 a month (per car) for two cars. My rate just jumped by $60 per year for some reason. My third car is insured through Grundy's collector car insurance for $530 per year with an agreed value and no limitations on miles. Good deal.

clevercloggs
Clevercloggs  (Level: 27.4 - Posts: 1246)
Mon, 24th Aug '09 9:20 AM

Maybe our motors get less bullet holes ?

surreyman
Surreyman  (Level: 260.9 - Posts: 2770)
Mon, 24th Aug '09 10:43 AM

Ah - maybe the average American insures two or more cars?
Could be the answer.
Still looks xxxxxxx expensive per car though.

lodi
Lodi  (Level: 98.7 - Posts: 2144)
Mon, 24th Aug '09 11:22 AM

I pay $120 a month for four vehicles (one SUV, 2 cars, and 1 Ford 150 pickup). None of them have bullet holes.

donden
Donden  (Level: 112.5 - Posts: 2127)
Mon, 24th Aug '09 11:51 AM

Some of the British motors I have experienced in the past could probably have been improved with a few bullet holes.

ravensclaw
Ravensclaw  (Level: 43.0 - Posts: 158)
Mon, 24th Aug '09 9:58 PM

and... we pay $3,000 for toilet seats, $2,000 for hammers. Most peoples can buy a 'pencil' for 10-15 cents, we prefer to call them 'portable carbon filled hand held writing devices' so we can pay $300 a piece (courtesy of our Government!).

koota
Koota  (Level: 181.9 - Posts: 2104)
Mon, 24th Aug '09 10:45 PM

Ok .... somebody help fill in the details. I understand that NASA spent BIG bucks developing an ink pen that could write in space, and the Russians decided to use the pencil.

Fred and I spend roughly $1000 per year for car insurance, but we DO have a commercial policy that covers our car for $1 million in case we drive into something expensive while we're on the job.



bobolicios
Bobolicios  (Level: 118.4 - Posts: 1745)
Mon, 24th Aug '09 11:14 PM

Why don't we all get scooters or bikes and forego the insurance save energy and not emit greenhouse gases.

alvandy
Alvandy  (Level: 229.6 - Posts: 7570)
Mon, 24th Aug '09 11:23 PM

perhaps USA insurance companies have tremendous lobbying powers/ and "reward" friendly politicians:
=========================================================================

Insurance Companies Exempt from Nation's Anti Trust Laws
From price-gouging to collusion, the insurance industry can operate in a manner that no other financial service sector can. No bank, no investment house, no financial broker. The fact of the matter is that the total number of federal regulations that apply to the insurance industry is O.

The insurance industry is only one of two industry's that the nation's laws exempt from our federal anti-trust legislation. The other sector is professional baseball.

While baseball is an American favorite past time, the sport does not play a role in securing a bank loan to purchase a home or business nor whether our financial and real assets are protected in the event of fire, theft, earthquake, blizzard, tornado, hurricane, mudslide, or other event.

Yet, the decisions that insurance companies carry out regarding whether to honor a community's trust or to betray it will determine whether a community can rebuild its homes, schools, grocery stores, places of worship, community centers, bakeries, doctors' offices, hospitals, jails, local shopping malls and other things we all take for granted in the normal course of our days.



alvandy
Alvandy  (Level: 229.6 - Posts: 7570)
Mon, 24th Aug '09 11:25 PM

P.S. I like baseball at least , although they overcharge for an admission ticket



bobolicios
Bobolicios  (Level: 118.4 - Posts: 1745)
Mon, 24th Aug '09 11:26 PM

Well thought out post Al. Makes one wonder, the insurance companies have devastated people in Florida. They completely pulled out after Hurricanes in 2005.

bbear
Bbear  (Level: 161.7 - Posts: 2301)
Mon, 24th Aug '09 11:26 PM

We pay (for my old honda, hubbies old chevy and daughter's old gmc) about 400 per MONTH.

Other daughter got taken off our insurance after she took out the Lexus and the Mercedes and nearly missed the Hummer. She now pays 250 a month just for her.

Crazy.

mplaw51
Mplaw51  (Level: 179.5 - Posts: 1582)
Mon, 24th Aug '09 11:31 PM

I pay just under $1,000.00 for two cars and this includes collision and liability (whichever one will replace your car's value in an accident). I also live in NJ which has ridiculously high insurance premiums and more people per square foot than anywhere else in this country.

jank0614
Jank0614  (Level: 67.1 - Posts: 4597)
Mon, 24th Aug '09 11:33 PM

"The average American pays $157 a month for auto insurance".
Can't be true, surely?

No - it can't be true for the "average" American.

Of course, it depends on the age of the driver, the age of the vehicle, the value of the vehicle, multiple vehicle discounts, and your own personal choice of liability or collision.

I have collision on one vehicle, and liability on my dad's old pickup (a 1981 Silverado with less than 50,000 original miles) and I pay $78 a month with State Farm.

Man - everywhere we turn we're reminded to investigate deeper - don't take things at face value. Sometimes that face isn't worth much.

madamec8
Madamec8  (Level: 82.6 - Posts: 893)
Tue, 25th Aug '09 6:02 AM

Our premiums also have a buit-in cost for at-fault uninsured drivers -- mine does, for example. In 2004, an average of about 14% of drivers had no insurance, and it is expected to increase. The highest 5 states were Mississippi at 26%, Alabama at 25%, California at 25%, New Mexico at 24%, and Arizona 22%.

Each state has differing risk factors, which also accounts for car insurance premiums. If you have a good driving record you should get a safe driving discount. If you have a certain number of at-fault accidents, you will pay more; if you have a lot of speeding tickets you may get cancelled and referred to an 'assigned risk' company and you will certainly pay more. If your policy covers drivers under a certain age, you will pay more. It's difficult to compare premiums here, too many variables.

Back to uninsured vehicles, most justify because they say they can't afford the premium. In reality, they can't afford not to pay it. It's part of the cost of driving. States are cracking down and adding teeth to the laws.

jank0614
Jank0614  (Level: 67.1 - Posts: 4597)
Tue, 25th Aug '09 6:09 AM

Is it true, too, that if you have a DUI (or more), the cost of your insurance goes up too?

And now that you mention it, the more collisions because of cellphone usage will probably drive everyone's insurance rates up.

mplaw51
Mplaw51  (Level: 179.5 - Posts: 1582)
Tue, 25th Aug '09 6:40 AM

In NJ, if you have a moving violation you get a surcharge on your insurance for three years. You definitely get charged more for DUI, to say noting of the surcharge you're paying to the state for having found yourself in that predicament. Wonder where all that money goes??

jank0614
Jank0614  (Level: 67.1 - Posts: 4597)
Tue, 25th Aug '09 6:55 AM

Here I think they use them to decorate potholes.

lodi
Lodi  (Level: 98.7 - Posts: 2144)
Tue, 25th Aug '09 1:40 PM

We do get several discounts - safe driver, multiple policies (all the cars and also our home owners insurance).

winddancer41
Winddancer41  (Level: 63.3 - Posts: 1113)
Tue, 25th Aug '09 9:50 PM

On my ford van we pay about 500.00 dollars a year for full coverage and i have a 50.00 dollar deductible, our van is a 1996 with a lift for Robin's wheelchair. My husband just has collision on his old pickup, since he retired. We also get a discount because of two having two cars and our home insurance all with the same company. charlotte


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