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Car Insurance Skyrocketing One Week In

MadpoetMadpoet Registered User regular
edited August 2012 in Help / Advice Forum
I just bought a 2012 Camaro and was quoted (by phone) $600/6mo to insure it. When I went online to pay it, the premium was actually around $800. A week later I received an email saying my rate went up, and it was is over $1000 now.
Things that might be affecting it: I had a speeding ticket a year or two ago, 40 in a 20 (school zone lights were broken, judge didn't care). I also scraped a pillar in a parking garage somehow doing $1000 in damage to my SUV, maybe 3 years ago. I sold that vehicle right after, and have been just riding my motorcycle ever since. All of this was disclosed on the phone before the original quote.
So, I know there's things working against me, but it seem odd that the premium would almost double so quickly. Does this seem like a fair premium, or is there likely something fishy up? (I'm 37, and haven't payed over $100/mo for insurance in forever... hell, my last bike was $75 a year...)
I've shopped around to other insurers, and they all come up in the $500-600 range, but I have no way of knowing they won't do exactly the same thing.

Madpoet on

Posts

  • matt has a problemmatt has a problem Points to 'off' Points to 'on'Registered User regular
    edited August 2012
    What company is it with? Unless they discovered a ticket that you hadn't disclosed, it shouldn't have gone up after the initial quote, much less gone up twice, if it's a reputable company. *removed because I can't read*

    :edit: Man I can't read today!

    :second edit: Misread, thought you said per month, not per 6 months. $2000 a year is about right then. I had two old tickets from accidents when I bought my GTI in 2008, insurance was $312 a month with Progressive. It dropped to $180 a month when the first ticket cleared, and now it's $82 a month with a clean record.

    I'd still call and ask why it went up after the initial quote, though.

    matt has a problem on
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  • MadpoetMadpoet Registered User regular
    Insurance is through Progressive, where I also have my MC and renter's. I'm 37.
    Hrm, I only use the car on the weekend or during lightning/snow. I should probably have it listed as "Pleasure" instead of "Commuter".

  • Dr. FrenchensteinDr. Frenchenstein Registered User regular
    Have they been able to explain why it went up? if the ticket happened a few years ago, it should have been accounted for in the initial quote. If i were you, i'd shop around for new insurance. If they are going to dick you around now, imagine what they will act like when you (god forbid) have to make a claim.

  • MadpoetMadpoet Registered User regular
    Yeah, I'm mainly asking here before I pull the trigger on a new company - if this is the expected rate, then no reason to switch. When I scratched up the SUV their claims service was excellent, so I'm not too worried about that.

  • EshEsh Tending bar. FFXIV. Motorcycles. Portland, ORRegistered User regular
    Have you called Progressive and asked them?

  • spool32spool32 Contrary Library Registered User regular
    That's more than I pay Progressive to fully insure TWO cars, and we're the same age.
    However, I have a clean driving record. I'd definitely call them and ask what's up.

  • DjeetDjeet Registered User regular
    edited August 2012
    If your credit's bad they can use that to jack your rates.

    Is this not your main vehicle? If so you can have it rated as a reduced duty vehicle, however it's not going to cut the rate in half, maybe 20-35% off.

    Edit: I'd call them and ask why their rate nearly doubled so quick and then shop around.

    Djeet on
  • bowenbowen How you doin'? Registered User regular
    OP's driving a motorcycle right? Does that affect it maybe?

    Best bet is to call them like everyone else is saying.

    not a doctor, not a lawyer, examples I use may not be fully researched so don't take out of context plz, don't @ me
  • see317see317 Registered User regular
    bowen wrote: »
    OP's driving a motorcycle right? Does that affect it maybe?

    Best bet is to call them like everyone else is saying.

    It probably would, but not that much. And if it was going to affect the rate that much, it should have been accounted for in the initial quote since all this stuff is insured through the same people.
    Another vote for calling your insurance guys and asking them.

  • AngelHedgieAngelHedgie Registered User regular
    Honestly after the recent scandal with Progressive, where in order to avoid paying out on a policy they sent a lawyer to defend the individual who killed the policyholder, I'd look elsewhere. If you're ex-military, USAA is your best bet, otherwise, I've been happy with State Farm myself.

    XBL: Nox Aeternum / PSN: NoxAeternum / NN:NoxAeternum / Steam: noxaeternum
  • MadpoetMadpoet Registered User regular
    Wasn't State Farm the one that wouldn't cover someone injured in a head on because the other driver did it deliberately, thus it wasn't an accident?

    It looks like the premium went up because I reported the wrong year of my ticket, so their report picked it up and counted it as a second, unreported ticket. Have someone working on it.

  • KarrmerKarrmer Registered User regular
    Getting a Camaro to use for driving in the snow is.... an interesting idea.

    Those rates seem somewhat high but not shocking necessarily, I'd definitely give them a call first and consider changing companies if only just because they do seem like a shady company (but most insurance companies are, I guess).

  • MadpoetMadpoet Registered User regular
    Oregon version of snow is a different thing. We'll usually have maybe 1/2" that clears up by noon. This will shut down the city. The rain thing is the more frequent event. If it's enough snow that I can't move the car, nobody expects anyone to make it to the office anyways.

  • MushroomStickMushroomStick Registered User regular
    Madpoet wrote: »
    Insurance is through Progressive, where I also have my MC and renter's. I'm 37.
    Hrm, I only use the car on the weekend or during lightning/snow. I should probably have it listed as "Pleasure" instead of "Commuter".


    In my experience, you need to have at least two cars on a policy to list one as a pleasure vehicle. Before anyone says it, the motorcycle wouldn't count as a primary vehicle.


    Have you tried getting a quote from Geico? I'm 30 and its cheaper for me to get my car insurance from Geico and my motorcycle insurance from Progressive than it would be for me to get the insurance combined from either one.

  • KarrmerKarrmer Registered User regular
    Other question - is the Camaro an SS? I have a Challenger R/T and I can tell you the premiums definitely increase if it's a V8. The 2 door coupe thing raises them too.

    That doesn't answer why they would tell you a low number and then just raise them, and the rates still seem too high for someone your age, but a V8 2 door coupe owned by someone with a speeding ticket can definitely result in some big rates in theory.

  • badpoetbadpoet Registered User regular
    edited August 2012
    Did you get a loan for the vehicle? Chances are that changed your credit and that means Progressive used that to kick your rate up.

    badpoet on
  • DiannaoChongDiannaoChong Registered User regular
    edited August 2012
    Is insurance on a brand new car this expensive? I have been driving beaters (I have a whopping 1999 sable at the moment, newest car I've driven) my whole life and never had an insurance bill over 150$ for 6 months(25 a month)(statefarm). no wrecks and 2 tickets in the last 12 years. Those rates seem pants on head to me?

    DiannaoChong on
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  • bowenbowen How you doin'? Registered User regular
    It is if you've got more than liability and you're under 25 and a guy.

    When I first started driving my bill was in the ballpark of $200 a month, IIRC.

    not a doctor, not a lawyer, examples I use may not be fully researched so don't take out of context plz, don't @ me
  • Dr. FrenchensteinDr. Frenchenstein Registered User regular
    yeah, if you have a note on your car you have to carry a certain amount of coverage, which can be pricey.

  • matt has a problemmatt has a problem Points to 'off' Points to 'on'Registered User regular
    yeah, if you have a note on your car you have to carry a certain amount of coverage, which can be pricey.

    Gap insurance, until what you owe on the car is less than what it's worth. That way if you total it whoever holds the loan still gets paid.

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  • Dr. FrenchensteinDr. Frenchenstein Registered User regular
    i'm 99% sure any financing agreement requires you to have a certain amount of coverage/relatively low deductible.

    Gap insurance is a good thing to get regardless though.

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