Wawanesa used to be super cheap in LA, check them out. Also try Progressive and Costco’s insurance. Costco has been the cheapest I’ve ever seen.
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Personally I’d avoid Costco insurance (at least in Northern California). I don’t know if Coscto uses a single underwriter/insurer but whoever they punt your policy to has the absolute worst servicing Imaginable. Every person I know that has had to suffer Costco insurance hated the process of getting a claim through American Connect or whatever garbage insurance servicer they have.
IMO my State Farm quotes were only slightly more expensive than Costco premiums. But to the point of this thread, all auto premiums seem to have bumped up ~30% in the last year even with the cleanest of driving records and having your car garaged and not living in San Francisco or Oakland.
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If it helps you gauge… I had a Tesla Model 3 Performance with $250000/$500000/$100,000 and $1,000 comp/collision deductibles. We upgraded to an 2023 EQS450 EV Sedan three weeks ago.
The Model 3 Perf premium was $850 per 6 months with State Farm (edit: in NorCal).
The EQS 450 premium was $925 per 6 months with State Farm.
So even though the EQS is like 2.5x the MSRP of a brand new Model 3 Performance, the premium only went up ~9%. They’re both EVs so who knows if this is just the Tesla Tax coming into play.
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Tried AAA…. Got quoted $450/month for my CX5 (at this point why carry insurance any way… i’ll just put it in the bank and take the risk).
EQS quoted at $1500/mo insurance.
I have requested my CLUE report because I don’t know how am I getting these high quotes…
I am a “new” driver in the US (Licensed 2 years ago). But even so, I was paying $100/mo with Geico in 2021. Then I added my wife and they bumped it to $300 in 2022 and had to shop and settle with Clearcover at $200.
No accidents, no tickets… I don’t get why everyone is quoting do high.
Are “new” 29yo drivers always quote so high? I did had 0 accidents or incidents, 0 claims….
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Yeah getting the CLUE may help… the USA unfortunately has a lot of good stuff gate-kept around the data maintained by the credit bureaus. And the system heavily penalizes new entrants such as yourself. I mean advisors often recommend to parents that they should help their teenagers get credit cards early and build a credit profile and history. Since such foundation is necessary to be successful for someone in their 20s. It takes years to get that credit score in a good spot.
There are ways for you to improve your credit score over time; but until then you probably shouldn’t be hacking a lease on a brand new car right now. Just get a used Honda Civic and wait until the time is right for you.
You can explore stuff like a CD collateralized loan to just help get that history of responsible credit management necessary to bump up your score. I don’t know if this forum has credit building resources, but I know the info is out there.
I dont think credit score is the problem is my case.
I have been here 2 years and I got 770 credit score now.
My 2021 CX5 is leased. I managed to get the car leased without a credit score at Tier 1 rate. They did alternate verification with my banking balance account and offer letter.
I actually was suprised getting such a deal, its better than what mazdas are leasing now:
- 2021 mazda cx5 touring preferred awd
- 36months / 15k miles/year
- $950 DAS and $409/mo (incl 10% tax, and gap insurance and shitty addons from dealer).
I was planning in returing car and getting something nicer. But I may just buy it out if I can not get any better rates on insurance. I am not paying $300+/mo for car insurance.
I think in my case the issue is having 2 drivers with less than 2 year license in US. Geico honors my European licence, but my wife does not have one.
Was playing with Geico quotes. Mazda alone $250/mo, EQB alone $450/mo, then both cars Mazda+EQB $460/months.
Perfect excuse so I can convince my wife we need 2 cars now haha!
UPDATE: State Farm showing the cheaper in my area $227/mo. Much cheaper than AAA and Geico. Went through and agent instead of online, not sure it made the difference.
USAA has been raising my auto and homeowners quite a bit the last few years. Auto is >$3000 every 6 months for 5 vehicles (only 2 of which have collision). 5 drivers total, 3 of them between 18 and 22, with the youngest having a single at fault wreck of 2 other vehicles (rear ended a couple of cars in my beloved 2005 Expedition) 2+ years ago. Haven’t switched because I’m contemplating taking them up on a free roof replacement like 75% of my neighbors (of course hail will dent metal on the roof - apparently in NC that allows you to get a new roof).
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Yeah, squash that thought out of your head. Totaled cars are costly.
my 6-month-old $40k Leaf was fully paid by insurance after hitting a deer.
Plus can’t be without insurance on a leased car anyways:)
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You are right. I was thinking in case I buying the leased car. It is a $25k bet, I agree it could be expensive. ROI probably not worth it.
But maybe it makes sense just rising deductibles (if allowed by lease or by owning.
I got a quote today for $370/month with $500 deductible. Then with $2.000 deductible lowered it to $280/mo. Basically if I have no claim in 1 year, I have paid for the difference.
Lease contracts typically allow for a maximum of $1000 deductible. Not sure on finance / loans but I’d imagine it’s similar.
If your state insurance board / commissioner allows it to count as a credit or reduction in rate see if you can take an online defensive driving class. With Geico on two vehicles it lowered my premium about $160 / yr for 3 years. $480 - $40 cost was $440 in savings. It is state dependent though as I lost the credit when I moved states.
See if any other possible credits can apply to your situation.
Which provider are you using?
Raising a deductible is a better bet. At least your downside is limited.
Btw, Just got my insurance renewal letter. The same for auto $2k annually for Leaf S and Frontier SV leases, but house insurance that is bundled for discount rose from $3k to $4k. But I can’t leave since last year had an auto claim for a totaled Leaf where insurance paid $40k - so I’m stuck.
That’s through Hanover in CT state btw. And already had my broker check other options -none…
Ugh…
But still better than stories from FL and CA states where insurance companies pulling out from the market entirely.
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Been driving 37 years, no accidents. Progressive quoted me $610 every 6 months. 2023 bmw i4.
My other 3 cars combined ar $571.
I’ve been using GEICO for 15 years, I call around every 2 or 3 years when we change cars. Just switched cars and ended up going with Progressive, they were half the cost of GEICO.
I was surprised because all my other insurance here South FL has gone up. But the part that blew my mind was getting quotes and seeing a Model 3 was twice as much as an EQS to insure.
the amount of teslas down here that end up in accidents is mind boggling. the cost to repair them should be looked into by a federal grand jury.
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Had to renew last month… $11k for 4 drivers/4 cars.(2 drivers <= 20yo and all 4 cars 2022 or newer).
Shopped around… seems to be the going rate.
Gah… need to put the kids back on bikes… even an expensive ebike would be cheaper.
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My rate ballooned to $20k per year. 2 adult, 1 teen driver. 4 newer cars. Last year, the same coverage without the teen was $3800.
Ended up switching providers to get it down to $12k. Smh.
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Whoah. This is so crazy.