How to negotiate for a better insurance rate?

I quoted around the internet, the best quote I got is $161/mo from GEICO for 2017 Chevy Equinox .

Here’s the break downs:

Bodily Injury Liability(BI) : $100,000/$300,000 - $158.30
Property Damage Liability(PD) : $100,000 - $116.50
Medical Payments(MED) : $5,000 - $39.40
Uninsured & Underinsured Motorist : $100,000/$300,000 - $58.70
Comprehensive(COMP) : $250 deductible - $91.30
Collision(COLL) : $500 deductible/Collision Deductible Waiver - $436.30
Uninsured Motorist Property Damage: Not Included
Emergency Road Service(ERS) : $8.10
Rental Reimbursement(RR) : $35/day, $1,050 max per claim - $32.80
Mechanical Breakdown Insurance : Not Included

with
1yr US driver license, no accident, no ticket
SF bay area

Some friends told me that the insurance rate can be negotiable. I thought the numbers above are generated by the computer system of those insurance companies. How can we negotiate about it?

You don’t need rental reimbursement or road side assistance. You can raise the deductibles to make it cheaper and lower your liabilities to the minimum that the leasing company will require.

Shop with progressive as well
Increase the comprehensive deductible to 500
Get rid of Rental Reimbursement
Increase the Collision to 1000 if you feel you can afford it, which will reduce your premium

Look for a insurance BROKER. And yes- highly agree with what @MConte05 said- it’s the same thing I do.

i’m not aware of ‘negotiating’… but you can definitely shop around.

Years ago I used a service like netquote or selectquote or whatever and got 5 offers from insurance companies pretty quickly. I ended up staying with my current insurance company (USAA) because they were less than all of them, but it was fairly painless.

@EasyRhino Wish I could also be eligible to purchase USAA insurance. :blush:

Look for an affinity discount. A couple years ago I discovered you could select being a member of pentagon federal CU for a 20% discount on geico and you could become a member of penfed by joining the national military family association for $25.

I’m Pretty sure they closed that loophole but it saved me a ton of money.

I used to have GEICO but changed when I got better rates from 21st Century. Later I got better rates from a broker. YMMV.

If it isn’t a huge difference, don’t lower your liability to the minimum. Esp if you have some assets or future income worth protecting. $0.02

If you’re in SF and don’t drive much, I’d look into Metromile. Their policies are structured with a monthly base rate (about $40 in my case) and a per-mile rate (about 7 cents per mile). They track vehicle miles traveled through an OBD II dongle.

I’ve switched four months ago and my insurance premiums are half what they used to be with AAA. I walk/bus/bike to work and only drive about 5,000 miles/year, but even at 10,000 miles/year, it can make sense.