My car insurance payment is more than my car payment

[blue cat]

My credit is not great but WTF? My car payment is around $200 per month but it costs over 200 per month for lousy insurance. I'm calling the Texas Dept of Insurance tomorrow to complain. I also want to call some politicians and ask them WTF? I do have one accident within the past 3 years but no tickets in 3 years, and I have 28 yrs of driving experience. The people who can least afford it are being gouged.

[barb162]

1. May I ask what kind of car you have?

[blue cat]

12. chevy aveo

sucks, i know it. i'm not a car person. i live across the street from where i work, so i drive for essentials only.

[leftyclimber]

2. Have you shopped around for a better rate?

I know, I know, it's not the greatest thing to go insurance company hopping...

I was with Progressive until I moved to WV and my rates went through the roof (no change in status). Everyone I know who's moved here from out of state has said their rates are higher here, and we've all switched insurance companies.

Regardless, I was in the same situation -- insurance payment more than car payment. Progressive's a great insurance company; when I can afford them I will go back to them. They're just not in my budget right now.

I went to one of those "compare rates on the internet" sites (I don't remember which one, sorry) and found out I could be saving between 60 and 90 bucks a month switching to another insurer. No change in coverage. So I switched.

Now my insurance is slightly less than my car payment. Still not great, but it beats paying fifty bucks more for the insurance than for the car....

[Blue Diadem]

3. I'm with the above poster who suggested comparing rates.

There can be considerable difference between companies.

[DS1]

4. Holy shit, I pay 60/mo in Mass, one of the highest rates in the country

[madinmaryland]

5. We pay about $150/mo for two cars in the DC/Baltimore area.

One accident three years ago which was someone elses fault and paid for by their insurance co.

What kind of car do you have and are you over-insuring yourself??

I'm your age with the same amount of experience.

[blue cat]

8. chevy aveo

today got a quote for 130 per month with 1000 deductible and no frills. That is with a division of farmer's insurance who handles people with bad credit. Geico and state farm both want a little over 200 per month with 500 deductible with car rental, etc.

[madinmaryland]

11. Other than you living in "inner" city Dallas or Houston,

then you are probably getting screwn. Ours is for two cars, and we are in BK. (totally shit credit).

[suninvited]

6. Call Flo.

I know she is a bit enthusiastic, but I bet she can hook you up
!

[AlCzervik]

7. what company is it and is it just you on the policy? My car is about 475 a month, my husband is

around $180 but...he drives like an asshole. I'm guessing you do not.

[blue cat]

10. they told me that they go by your driving record for the

last 3 yrs so only one ticket on record. i've been told by 3 companies that it's the credit issue. is got me when buying the car and now with insurance. i was so happy when i had a paid for car with liability only. i still am going to complain to the texas insurance board.

[AlCzervik]

13. When i lived in Texas i had Farmers and i have them now in California, they handle

the cars and the house and they've been very good, my agent is wonderful and he's in my town so i can go to his office if need be. My car got stolen about 4 and half years ago and i was dreading dealing with the adjuster, ready to go to war and much to my surprise thy took care of me. that's been my experience, others my not have the same feeling about Farmers but so far so good.

[graywarrior]

9. Mine is $600 a year

Geico.

[RebelOne]

15. Mine is about that also.

I have Hartford and it's for full coverage, even collision, which I will be dropping because the car is 10 years old.

[graywarrior]

20. My car is 14 years old and I kept collision because if I get in an accident

I want to at least get something to put on a newer car. Plus, my car gets 34 miles per gallon, which is astounding for an old car. It's a Camry.

[Lost in CT]

14. So is mine... but I own my car outright... :)

BTW $200 a month sounds high... do you live in a bad neighborhood or something?

[elleng]

16. try geico

.

[pnutbutr]

17. $2400 a year

for two cars with minimum coverage and $1000 deductable. 99 subaru legacy and 09 ford fusion. No accidents in over ten years and one ticket for overdue inspection 2 years ago. Rates have consistently gone up every year. Explanation from the insurance company is that claims have increased so they need to increase everyones rates.

[HarukaTheTrophyWife]

18. My driving record is horrible and I pay $78/month with progressive

I have a Saab and I'm 26. I'd say you're getting screwn.

[mwooldri]

19. Who is the person in TX responsible for managing the insurance companies?

Our Commissioners of Insurance here in NC have been particularly successful in regulating the companies and in some years actually getting decreases in premiums for NC residents.

I'd find out who that individual is, and if they're ineffective do some further inquiries and if they're completely useless, get that individual voted out of office.

But personally: yep, shop around, get some explanations. I have fair credit, it was bad when we got our current insurance (just around the time of a Chapter 7 filing). We're insuring two vehicles (2006 Chrysler Town & Country, and 2007 Jeep Liberty) and it's $144-ish a month. Between me and my wife, we have two at-fault accidents (ran off road in one, "fender bender" in other) and two not-at-fault accidents (both my wife and I were hit by other drivers running red-lights) in the last three years.

Find a good INDEPENDENT insurance agent, get you some quotes, go insurance shopping. Maybe your employer has a hook-up with an insurance company and gets you a discount that way - but then that might not be the cheapest either, so shop!

Mark.

[ipfilter]

21. Does Texas have Farm Bureau Insurance?

I have all my insurance through Oklahoma Farm Bureau and it is significantly cheaper than State Farm or Farmers. I has been my experience that the big name insurance companies do not have very competitive rates. I have to pay a yearly membership fee with FB, but their low premium more than makes up for the $30 fee.