Car insuarance, get me a better rate :(

Nakatomi2010

So, currently my wife and I are insured through State Farm, we're paying about 160 a month, but I'm wondering if we're perhaps over paying on it.

Assume we know nothing and that we basically said yes to almost everything they were offering us at the local agent place. I'm running through the online site and their "basic" and "advanced" rates are quite a bit less than what we're paying now, so I was curious the features you guys were paying for, and what you're monthly total was... Trying to figure out what I need to change/remove to bring the cost down. I'm fairly positive that we're paying for more than we have to.

Thansk for your input.

Wezoin

Checkout sites like Kanetix, and I'm sure theres some others. You fill out your info once, and it finds quotes from a bunch of companies. State Farm is usually one of the most expensive insurance companies, but some people think its worth it for the personal service they provide.

Alternately, call statefarm and ask why your rate is higher than their website is saying it should be.

Nakatomi2010

I've tried contacting our local agent, but all they're doing is telling me my stats, not providing information on what I could change and to what. My problem is what I don't what I need. They seemed to imply that we're covered for more than we need to be, but I don't know what a couple aged 25 & 24 should have in terms of coverage...

They're giving me the "Do you think you need this coverage?" while what I want is someone to go "Well, you know most people go with this, and other people go with this" or "That's too high, we don't think you need that"... My wife and I are fairly confident they just don't want us to reduce our rate to lose money....

Veevee

The problem is that no one here can tell you if you need any part of the service, only you can. Do you need roadside assistance? Do you need free rental car while your car is in the shop? Do you need full coverage or just liability? Just guessing on your coverage, but these are answers only you can really give. If you need to know what each thing is we can tell you, but not if you need it or not.

Nakatomi2010

I'm more curious about the liability rates, the 100/300/100 crap, what's the proper ones there.... I know what to do with individual features, but the rates and such is what I'm confused about... What does the average person need? (oours are set to higher than that...)

Thanatos

Do you own a home? Do you have a lot of assets?

Nakatomi2010

We rent right now, though we'll be moving into a home in September...

Thanatos

Nakatomi2010 wrote: »

We rent right now, though we'll be moving into a home in September...

Any other assets?

Nakatomi2010

Our stuff... Other than that, no...

illig

Nakatomi2010 wrote: »

Our stuff... Other than that, no...

i think what Thanatos is getting at is that you're likely to get a discount if you get several kinds of insurance from one insurer... i.e. auto + renters may actually be less than auto alone, auto + home + flood, etc.

besides that, you really should review your policy and figure out if your policy is not overkill for your needs... as an example, having a low deductible typically raises your premiums... and unless you get in accidents often, it's a complete waste of money... raise your deductible to $500 (or even higher if you're a very safe driver) and your rates should decrease

Nakatomi2010

I live in Florida, State Farm does not offer home owners, and Allstate has stopped writing in new home owners insurance, not sure about the others, but generally we get shafted on insurance for the place you live in...

Älphämönkëy

Nakatomi2010 wrote: »

I live in Florida, State Farm does not offer home owners, and Allstate has stopped writing in new home owners insurance, not sure about the others, but generally we get shafted on insurance for the place you live in...

Are you or your wife eligible for USAA?

Nakatomi2010

No, neither of us were in the military...

Dunadan019

when does your wife turn 25?

when she does your insurance is likely to go down.

MichaelLC

Make sure all the security & safety features on your cars are included (air bags, ABS, etc.) Each usually gets you a few bucks off. Be "accurate" with your daily drive to work - that saved us a good chunk when we lowered it.

Age is probably a factor too.

Nakatomi2010

she is 25, I'm 24. I turn 25 in December...

Dunadan019

Nakatomi2010 wrote: »

she is 25, I'm 24. I turn 25 in December...

Expect your rates to go down in december.

Figgy

Your agent isn't going to tell you what coverage you should or should not take. For one, they want to sell you the most coverage possible. For another, they aren't going to say you don't need a certain type of coverage so you can come back later and complain you were told you didn't need something, when you did.

Ask about fiddling with your deductibles, removing comprehensive, etc.

If you get in an accident and you are at fault, do you want to pay a deductible?

Do you want to be covered if your car is ever hit in a parking lot?

Do you want to be covered for theft?

You can't get rid of your liability insurance, but you can save money by increasing your deductibles. Call around and see what other agents can get you. I was able to find a policy for $85/mo with nearly maximum coverage and $0 deductible on any claims whatsoever--came in handy when a rock cracked my windshield. It will come in handy again the next time I get dinged in a parking lot and want to repaint that area, etc.

It's all about how much you want out of the insurer. If you want to go with the minimum legal coverage, ask what that costs and what that entails, but call around.

Thanatos

illig wrote: »

Nakatomi2010 wrote: »

Our stuff... Other than that, no...

i think what Thanatos is getting at is that you're likely to get a discount if you get several kinds of insurance from one insurer... i.e. auto + renters may actually be less than auto alone, auto + home + flood, etc.

besides that, you really should review your policy and figure out if your policy is not overkill for your needs... as an example, having a low deductible typically raises your premiums... and unless you get in accidents often, it's a complete waste of money... raise your deductible to $500 (or even higher if you're a very safe driver) and your rates should decrease

No, what I'm getting at is that if you don't own much, you don't need a lot of insurance (since you're pretty much lawsuit-proof if you don't have any assets).

But if you turn 25 in December, whatever you do now, you're going to want to re-evaluate come then.