Does this seem right?

[PamAndJim]

OK, I know there are a ton of insurance related threads going on around here, and I have read through a lot of them. So, yes I have searched and yes I realize that there are a ton of variables that factor into insurance costs. That's why this is not a "how much do you pay?" post. Instead, I am trying to compare the costs of my new Mustang compared to that of my wife's Infiniti. When I added the Stang to our policy, our payment went up $40/month, which seems like a lot. I pulled the policy up online and found the cost breakdown. The Mustang is one and a half times the cost of the Infiniti which is worth almost twice what my car is worth. I know it's a Mustang, but it's also a 4 cylinder. I'll be 38 this year (wife will be 36) and neither of us have any tickets for at least 5-6 years. For what it's worth is some more info on the vehicles in question.
Hers: 2015 Infiniti QX60 - leased (not sure if that matters)
Mine: 2015 EBM - financed
We have Progressive and have for 7+ years. I'm going to shop around for better quotes (any recommendations would be welcomed) have left a message for our agent. But, just trying to see if this is typical of what I can expect to see. I knew it go up (BTW I came from a 2010 Malibu) but was expecting maybe $10-$20/month. I know I could've found this out before I bought the car, but it wouldn't have made a difference.

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[kn7671]

40 yrs old is where the big break will hit you, the cost difference from my wife's 2014 Flex to my 2015 Mustang was just $15.00. It also depends as who you list the primary driver. Lease vehicles are generally more expensive to insure. Sounds like it might be worthwhile to shop around and compare. I use Nationwide, me and my wife are in our early 40's.

 

[blkandgud]

Strange. I was paying 70 bucks a month for a brand new 2012 5.0 and I was 25 at the time.

 

[paullyd210]

OK, I know there are a ton of insurance related threads going on around here, and I have read through a lot of them. So, yes I have searched and yes I realize that there are a ton of variables that factor into insurance costs. That's why this is not a "how much do you pay?" post. Instead, I am trying to compare the costs of my new Mustang compared to that of my wife's Infiniti. When I added the Stang to our policy, our payment went up $40/month, which seems like a lot. I pulled the policy up online and found the cost breakdown. The Mustang is one and a half times the cost of the Infiniti which is worth almost twice what my car is worth. I know it's a Mustang, but it's also a 4 cylinder. I'll be 38 this year (wife will be 36) and neither of us have any tickets for at least 5-6 years. For what it's worth is some more info on the vehicles in question.
Hers: 2015 Infiniti QX60 - leased (not sure if that matters)
Mine: 2015 EBM - financed
We have Progressive and have for 7+ years. I'm going to shop around for better quotes (any recommendations would be welcomed) have left a message for our agent. But, just trying to see if this is typical of what I can expect to see. I knew it go up (BTW I came from a 2010 Malibu) but was expecting maybe $10-$20/month. I know I could've found this out before I bought the car, but it wouldn't have made a difference.

your car being leased has no effect on insurance unless your leasing company requires higher limits lowed deductible etc..

keep in mind location location location is a big factor, texas is a ford state from the f series to of course our beloved mustangs it could simply be that the loss ratio (what insurance company pays out vs gets in) is higher in your area especially when it comes to those who drive mustangs because more mustangs are on the road vs the qx60, historical data is also looked at and most insurance companies will use the v6 as way to rate the EB due to similar power outputs, keep in mind your premium is being calculated individually but also collectively will all mustang drivers regardless of how well your record may be, and insurance premium is risk translated into dollars and as your stated many factors come into play but the risk for whatever reasons of you having a mustang vs the malibu transaltes to $40 more per month from an insurance companies perspective which depending on location, individual rating factors and company sounds reasonable

it sounds like you are doing a good job with the major rating factor you have control of that is your driving record, but in this case it sounds like the factors you don't have control over are coming into play and are having more of an effect on the premium now not all companies calculate their premiums the same so of course a lower rate will be out there but i personally would not go for one of the no name companies because in the event of a claim you may have a not so easy experience

good job with calling your agent you always want to get a policy review and see if you can change some coverages you either dont really need or change your deductible the savings going from a 500 ded to 1k ded or whatever the case might be, can be worth it for you but you have to check , also a defensive driving course usually provides a discount that more than pays itself off in the long run , it is an inexpensive online or in person course usually around $25 ask your agent

i dont recommend any companies in particular but i do recommend when shopping that you ask the company run all underwriting before giving you a quote (MVR and Clue Report) i believe in TX companies have 45 or 60 days to change your rate. I would hate for a company to call you a couple of weeks later and say your rate has now gone up after youve made the switch
i also recommend you ask about discounts you are getting you dont want to receive a discount for signing up that is going to expire after your first policy term and your rate go right back up



SOURCE- I AM INSURANCE AGENT LICENSED IN ABOUT 42 STATES

 

[drbrian722]

$40 a month seems high and I would certainly shop around. I'm 38 and coming from a 2003 Jeep to a 2015 5.0 is going to be about $120 a year (Geico).
From the insurance as a business point of view, you are comparing two very different cars. A mustang regardless of the engine is more likely to be vandalized, stolen, driven hard, and crashed than a QX60. In the simplest of terms, the QX60/Pathfinder platform isn't a high performance vehicle, its a CUV, and that matters more than what the purchase price was.

 

[OctopusWrangler]

It's tough to say without knowing a little more. In talking to Progressive, which I use myself, zip code plays the biggest role in how much you get charged. Then the car itself, then the drivers/histories and finally the actual coverage you want. At least, that's what they've told me, and I call them every 6 months about it, but they've also proven time and again to be the cheapest given our set of circumstances. AAA of AZ tends to be second but still $100+ more per six months term.
FWIW, we insure 3 cars with them. A paid off 2010 Infiniti FX35, a 3 payment left 2014 Acura RDX and a 2015 Mustang GT with too many payments to count. I'm 40 and wife is 34, no dings on our driving or credit histories, low mileage drivers.
100/300/100 coverage, with $2000 deductible. The mustang costs more to insure than the other 2 cars combined.

 

[JimmyTwoTimes]

When I went from a 2011 Mustang V6 to a 2015 Mustang V8 my monthly insurance went from $95 to $170.

 

[davekro]

OK, I know there are a ton of insurance related threads going on around here, and I have read through a lot of them. So, yes I have searched and yes I realize that there are a ton of variables that factor into insurance costs. That's why this is not a "how much do you pay?" post. Instead, I am trying to compare the costs of my new Mustang compared to that of my wife's Infiniti. When I added the Stang to our policy, our payment went up $40/month, which seems like a lot. I pulled the policy up online and found the cost breakdown. The Mustang is one and a half times the cost of the Infiniti which is worth almost twice what my car is worth. I know it's a Mustang, but it's also a 4 cylinder. I'll be 38 this year (wife will be 36) and neither of us have any tickets for at least 5-6 years. For what it's worth is some more info on the vehicles in question.
Hers: 2015 Infiniti QX60 - leased (not sure if that matters)
Mine: 2015 EBM - financed
We have Progressive and have for 7+ years. I'm going to shop around for better quotes (any recommendations would be welcomed) have left a message for our agent. But, just trying to see if this is typical of what I can expect to see. I knew it go up (BTW I came from a 2010 Malibu) but was expecting maybe $10-$20/month. I know I could've found this out before I bought the car, but it wouldn't have made a difference.

Forget about your wife's car. The only thing that matters is what has changed. You have gone from a 2010 to a 2015 (more valuable and being a Mustang likely a bit more costly too). Your location did not change on your car, right? What annual mileage did you tell the INsur company you would drive Mustang? Is it same as your previous car? Did you change deductible amount from your 2010 to your Mustang?

If you are a Costco member YOU NEED TO GET A QUOTE FROM THEM! I changed to Costco auto insurance years ago. It was a huge savings from my already price shopped insurance. I was told by another agent who wanted to quote me car insurance when I told him I had Ameriprise (Costco) that they have rates no one else can touch! Check them out.

 

[Dannyho]

switching from a 95 300zx to my 2015 EBP my insurance went up, I think $10/month, then I took collision off my truck and ended up being under where I was before.

I think you need to look at another company. I have Geico they're always way under everyone else up here. and I've heard bad things when it comes time to make a claim and also I live in the insurance capitol, so YMMV.

I've also noticed that when you have multiple vehicles under one policy comparing the two is pretty useless, you could always do some of the free quotes with one car and then the other to see what happens.

 

[del101]

Is there a question in there somewhere? I personally have Liberty Mutual, which is about $120 less than any other company I've tried, including Geico. Never had to make a claim, but haven't had a bad experience.


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[davekro]

Is there a question in there somewhere? I personally have Liberty Mutual, which is about $120 less than any other company I've tried, including Geico. Never had to make a claim, but haven't had a bad experience.

By chance have you gotten a quote from Ameriprise (if you happen to be a member of Costco)?

 

[mvic1518]

I also switched to Costco about 5 years ago. I was amazed at the deal I got with Costco. I have 3 cars and a truck, I also switched my home owners to Ameriprise and got another discount. You can go on the Costco website and put in all your information and they will give you a quote on line. Make sure you have your present policy so you know you are comparing apple's to apple's. Good Luck

 

[PamAndJim]

Thanks guys I'll check out Costco. In the meantime I'm awaiting a call from our agent with his search results.

 

[oilfieldtrash]

Geico. Paying 73 a month for an ecoboost mustang and an old beater truck. Progressive is too high. Im just outside dfw myself. Progressive went up about 3 -4 years ago and has never come back down on their rates. Its definitely time to shop around and drop them.

 

[oilfieldtrash]

Pam and Jim? The Office?

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