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2015 Mustang insurance increase?

Bay1Stang

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My policy renewal is coming up and the premium is $40 higher. I asked why and this is the answer I got:

In your case, there was an increase in premium because the symbol assigned to your 2015 Ford recently changed.

Vehicle symbols are assigned by the Insurance Services Office, Inc. (ISO) and provide information about a vehicle's susceptibility to theft, safety features, and the cost to repair damages. The ISO recently updated the symbol for your vehicle which is reflected on your recent policy renewal. To learn more about ISO and how they determine vehicle symbols, please visit http://www.iso.com/Products/VINMASTER/Physical-Damage-Rating-Symbols.html.
Is this bullshit or what?
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IvanCRF

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foghat

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My policy renewal is coming up and the premium is $40 higher. I asked why and this is the answer I got:



Is this bullshit or what?
$40 dollars a week, month, year?
 
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Bay1Stang

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It's $40 for 6 months.
 

foghat

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No idea if it is bs or not. I'd lean towards not given their explanation. Either way, at ~$6 a month I personally wouldn't lose too much sleep over it.
 

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Bay1Stang

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Yeah but it's the principle of the matter lol. I hate when companies try pulling this shit no matter how little or big it is.
 

foghat

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Yeah but it's the principle of the matter lol. I hate when companies try pulling this shit no matter how little or big it is.
I hear you.

As I move on in years, I find I get less worked up over things like this. The explanation provided seems reasonable and should be relatively easy for one to confirm. Not a hill I'd die on, so to speak.
 

RevvdMedia

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Insurance has many factors to consider (besides banking as much income as possible...) which do include rates of theft, accident occurrence and as they stated the cost of repair. The largest factors on our cars is the fact it is considered "high risk" since it is a performance vehicle. Often Mustangs are modded, making their aftermarket products a target of thieves. A lot of bad drivers buy high performance cars like Mustangs and then crash them when they lose control going full race car on the street.

On average based on quotes I received, my Mustang was on average 17% more money per year to insure under full coverage and all perils than my 2012 Kia Sportage AWD was.
 

Mustang1260

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My policy renewal is coming up and the premium is $40 higher.
Is this bullshit or what?
No- it is called reality.
The 2015 Mustang is NEW. Policies were initially sold based upon estimates. Now that the 2015 has been out for a period of time --real world numbers are coming in as to actual repair costs etc...thus insurance companies revisit their estimates and recalculate the appropriate anticipated cost of claims and price accordingly.

Don't like their pricing try another insurance company.
 

Black one

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Try a Geico quote.....I swiched from Farmers and saved more than 15%

Wow, that sounds like a commercial....I saved 40% ith better coverage
 

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Bay1Stang

Bay1Stang

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I do use Geico actually. Never bought a brand new car before so I guess it makes sense. Could be worse .. $6 a month.
 

cush

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My policy renewal is coming up and the premium is $40 higher. I asked why and this is the answer I got:



Is this bullshit or what?
Mine just went down by $20 a month, now $78 (GT PP). Sorry! $40 for 6 months isn't a bad hike though...
 

GordieBobfish

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I pay $65 month right now based on 12 month coverage but it will work out to less than that because 6-7 months of the year the car will get reduced to storage insurance witch will only be maybe $25/month.

Should average out to something like $45/month.


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krahooligan

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im paying 125 month to month. im getting boned in the behind apparently .
 

Br725

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I did travelers company auto through my company (huge defense/military corporation) and the rates were insanely low, especially considering all the coverage it gave me. I would suggest checking out progressive otherwise. When me and my wife first switched over it was dirt cheap. We had two accidents in one 6 month stint and obviously it shot up. Travelers then trumped all, lol.
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