Need some insurance insight

[zakkb787]

Hey guys. So I went to get my insurance put on the truck. The loan officer put mine and dads name in the title (loan is in his name) so my agent claimed he couldn’t add it to my policy because of dads name, however, my k10 has my dads name on the title with mine and it is on the other policy I’ve had for years. So I had to get a new policy. The truck is an 06, so 12 years old. Right now I’m paying somewhere around $60 a month for the policy with my k10 and bike (both liability only) and the duramax is costing me $90 a month. ($100 comp $250 collision deductible) This seems insane to me. I have never been in an accident or got a ticket of any sort. Am I getting screwed? Geico quoted me $76 a month for the duramax and k10 and that’s with $0 comp $100 collision deductibles.

 

[Trotorx2]

My experience is raising your deductible will lower your monthly payments.

 

[Mike L.]

^^^^^^

 

[tripleturbo]

That's only like 1000 a year. Your young, doesn't matter what your history is. That's not bad at all. Pay once a year and it's even cheaper. I'm 24 and pay like 8 something for my 06. Clean driving record but I bundle it with my house as well. I don't think any of those numbers are off, JMO

 

[zakkb787]

Maybe I’m not too far off then. Just seems close to $100 a month for insurance for one vehicle is pricey. My eco boost was even cheaper than this. May switch to geico anyways. That’s $15 cheaper a month with even better deductibles.

 

[WVRigrat05]

90 a month? Mine is 340 a month for my truck and wife’s car, used to be 700 until my driving history leveled out.

 

[clrussell]

My lbz was 70 a month, my l5p is 130 a month. Both same exact coverage and 500 deductibles

 

[zakkb787]

Jesus Reger that’s a lot of money. Hope my record stays clean... thanks for the thoughts guys. Think I’m gonna talk to my agent and if he can’t match what geico quoted I’ll be going with them.

 

[Trotorx2]

I'm paying about $290 for my LML, my 5th wheel and my house. My deductible is $500 for both the truck and 5th wheel. Thats with USAA, my two motorcycles are $47 mo with Formost.

 

[gmduramax]

Jesus Reger that’s a lot of money. Hope my record stays clean... thanks for the thoughts guys. Think I’m gonna talk to my agent and if he can’t match what geico quoted I’ll be going with them.

But what did geico quote you? You have to look at what they’re covering.

 

[WVRigrat05]

But what did geico quote you? You have to look at what they’re covering.

This.... I went with geico as well and my insurance went to half, but, my towing sucks (only one option) and rental coverage sucks.

My insurance was high from two write offs and a lot of tickets, it’s been 300 for the last three years or so, might be less now, wife takes care of that garbage, but I have full coverage on both my newer vehicles and comp on my explorer.

 

[six5creed]

You need to get your K10, bike and truck all on the same policy, it’ll put you in the multi vehicle policy and should be cheaper. We have 3 vehicles on ours, 03 dmax, 08 Yukon XL Denali & 93 Sonoma and we pay $429.67 every 6 months.

 

[cdbright]

yea thats cheap, run with it

 

[02greysixer]

I'm 27, wife is 25 and I have my 2015 F250, her 2016 Explorer and my 95 Tacoma and I pay right around $1600 every 6 months. Full coverage on 2 new trucks and pip on the yota. Through progressive. Wife has 2 small no fault claims and my 05 was totaled 3 years ago.

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[zakkb787]

My agent claimed they can’t put the duramax on the policy because dads name is on it too, even tho it’s on the k10 too. It makes no sense to me. I don’t want towing or rental. My grandparents have a 15 Kia, 02 silverado, both full coverage and a 96 Cherokee and it’s less than 100 monthly. Just doesn’t make sense to me that’s all. Geico was 76 a month with better deductibles with the k10 and duramax.

 

[dcpjfs432]

I pay like $120 a month for my 04 duramax but I am 18 so I don't think that's too bad.


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[WisconsinHick1]

You have to understand there are some many factors in each persons situation. Where you live, what age, vehicle etc the list goes on. So you can not compare your monthly premium to another persons. You can only compare company to company and they factory everything differently. So if Geico is cheaper and has the same coverage's and everything go with it.

As an agent and my prospective outside looking in is if coverage is the same or better with a better premium sometimes you have to move your business elsewhere. Some companies won't allow certain things that others will. Geico normally have competitive premiums for younger people.

Hopefully this helps clarify a little if you have any questions let me know and I'll do what I can to give you some insight but I don't know any of the laws for your state so I may only be good for general questions.

 

[zakkb787]

You have to understand there are some many factors in each persons situation. Where you live, what age, vehicle etc the list goes on. So you can not compare your monthly premium to another persons. You can only compare company to company and they factory everything differently. So if Geico is cheaper and has the same coverage's and everything go with it.

As an agent and my prospective outside looking in is if coverage is the same or better with a better premium sometimes you have to move your business elsewhere. Some companies won't allow certain things that others will. Geico normally have competitive premiums for younger people.

Hopefully this helps clarify a little if you have any questions let me know and I'll do what I can to give you some insight but I don't know any of the laws for your state so I may only be good for general questions.

Thank you for the help. I was hoping one of the insurance guys would chime in. My quarrel is this. My lb7 and k10 was $72 monthly. My 2011 f150 and k10 was $82 monthly. Now this 06 alone is $90, and with the k10 added was going to be about the same. I even asked why was a truck 10 years newer more expensive. He didn’t have an answer. I’m not 100% sure in the coverages, but either way geico is still cheaper. And many places won’t even insure the poor ole k10 I found out.

 

[WisconsinHick1]

More expensive repair costs in newer diesels, they cause more damage because of there size and so on. I do know there was a company if I heard correctly have a 15-20% increase in premium across the board for auto's but again I don't know if that was nation wide or state to state or what. Again I understand your frustration but sometimes its hard to say exactly why certain rates are higher.

As for the K10 depending on the year yes a lot of companies stay away from trucks older than 20 years because they start to fall into the "classic" market and can be more expensive to replace or insure because of lack of safety features. Depending on the use of the K10 and other factors if you go with Geico you might want to look at Hagerty for the K10.

 

[zakkb787]

More expensive repair costs in newer diesels, they cause more damage because of there size and so on. I do know there was a company if I heard correctly have a 15-20% increase in premium across the board for auto's but again I don't know if that was nation wide or state to state or what. Again I understand your frustration but sometimes its hard to say exactly why certain rates are higher.

As for the K10 depending on the year yes a lot of companies stay away from trucks older than 20 years because they start to fall into the "classic" market and can be more expensive to replace or insure because of lack of safety features. Depending on the use of the K10 and other factors if you go with Geico you might want to look at Hagerty for the K10.

Thanks man. I’ll check into it