Insurance is through the roof!

[disneyfun1]

i just called geico, they had to put it in manually since gt350 is not listed, and it did not recognize my vin and asked how much i will be paying, i said around 60K, about 8k miles per year, and my insurance over my 2015 gt will only go up about 30/mo, so im good with that.

Sponsored

 

[nastang87xx]

i just called geico, they had to put it in manually since gt350 is not listed, and it did not recognize my vin and asked how much i will be paying, i said around 60K, about 8k miles per year, and my insurance over my 2015 gt will only go up about 30/mo, so im good with that.

I have Geico right now too so that sounds like good news for me.

 

[Steeeliskt]

i just called geico, they had to put it in manually since gt350 is not listed, and it did not recognize my vin and asked how much i will be paying, i said around 60K, about 8k miles per year, and my insurance over my 2015 gt will only go up about 30/mo, so im good with that.

:eyebulge:

$180 every 6 months... are you running around with minimum limits? I doubt that is correct. I could be wrong, but 99.9% sure they messed up. That's the problem with new vehicles, especially one like this. VIN's don't populate in the system when they are brand new. After you add it to the policy and get off the phone, it will go to an actual underwriters desk, they will adjust it, you will get bill in the mail for much higher.

 

[disneyfun1]

:eyebulge:

$180 every 6 months... are you running around with minimum limits? I doubt that is correct. I could be wrong, but 99.9% sure they messed up. That's the problem with new vehicles, especially one like this. VIN's don't populate in the system when they are brand new. After you add it to the policy and get off the phone, it will go to an actual underwriters desk, they will adjust it, you will get bill in the mail for much higher.

they had to do the same thing for my 2015 mustang gt when i bought it since the vin was not in there and it never went up. i have high coverages, 300/300/250, 50 ded comp with full glass, 200 ded collision. we have 4 cars on it, 2015 mustang gt, 2015 mustang eco, 2015 fusion, and 2012 focus, online it went with the mustang gt, so i called them, he sent me a quote that says gt350 on it, thats why he wanted the price paid as well. and thats $30 extra every month, not $180 for 6 months total, thats on top of what i pay for my gt now.i think we pay about 340 a month now, not including the focus, my daughter pays her part of the ins. thats for the 3 we pay.

 

[Steeeliskt]

i just called geico, they had to put it in manually since gt350 is not listed, and it did not recognize my vin and asked how much i will be paying, i said around 60K, about 8k miles per year, and my insurance over my 2015 gt will only go up about 30/mo, so im good with that.

I was curious so went to the Geico website to do a dummy quote... They don't even have the GT350 listed, in fact, they have a 2016 Shelby GT500. Minimum limits and NO PHYSICAL DAMAGE COVERAGE, premium: $215 / 6 months. But understand what no physical damage coverage means.. vehicle stolen, no coverage, ladder falls on it, no coverage, you crash into anything, something scratches it, no coverage, another vehicle hits you and they don't have insurance/enough coverage, you have no coverage for physical damage at all.

That Geico rep most likely gave you a quote without comprehensive and collision coverage. That's what happens when you use a caveman/Gecko to handle your insurance

 

[Shift]

I did a quote with my insurance company and it was an additional 1000$ per year. 30 years old, clean driving record. Still seems high to me, so I'll have to shop around when the time comes.

 

[Steeeliskt]

they had to do the same thing for my 2015 mustang gt when i bought it since the vin was not in there and it never went up. i have high coverages, 300/300/250, 50 ded comp with full glass, 200 ded collision. we have 4 cars on it, 2015 mustang gt, 2015 mustang eco, 2015 fusion, and 2012 focus, online it went with the mustang gt, so i called them, he sent me a quote that says gt350 on it, thats why he wanted the price paid as well. and thats $30 extra every month, not $180 for 6 months total, thats on top of what i pay for my gt now.

We must be having a miscommunication... $30/month x 6 months = $180 every 6 months (for adding a $60,000) car. That is insanely, unrealistically cheap. Seriously, something has to be off with that.

Ohhh.. I get what you are saying, but my point stands, you added a $60,000 vehicle and they are only charging you $30/month for that change.

 

[disneyfun1]

I was curious so went to the Geico website to do a dummy quote... They don't even have the GT350 listed, in fact, they have a 2016 Shelby GT500. Minimum limits and NO PHYSICAL DAMAGE COVERAGE, premium: $215 / 6 months. But understand what no physical damage coverage means.. vehicle stolen, no coverage, ladder falls on it, no coverage, you crash into anything, something scratches it, no coverage, another vehicle hits you and they don't have insurance/enough coverage, you have no coverage for physical damage at all.

That Geico rep most likely gave you a quote without comprehensive and collision coverage. That's what happens when you use a caveman/Gecko to handle your insurance

he actually read off to me the same coverage i have on all cars now, its was for replacing one and same coverage on new car.

 

[Steeeliskt]

I did a quote with my insurance company and it was an additional 1000$ per year. 30 years old, clean driving record. Still seems high to me, so I'll have to shop around when the time comes.

$500 / 6 months for a G350 is a very reasonable quote. unless you went to a collector car program you will be hard pressed to beat that.

It's really hard to compare apples to apples on things like this because there are many different coverage items and limits so it is a lot of misinformation to say "I got this number" without knowing all the variables. Zip code is another huge variable.

 

[disneyfun1]

We must be having a miscommunication... $30/month x 6 months = $180 every 6 months (for adding a $60,000) car. That is insanely, unrealistically cheap. Seriously, something has to be off with that.

Ohhh.. I get what you are saying, but my point stands, you added a $60,000 vehicle and they are only charging you $30/month for that change.

well im changing out my 44K vehicle and moving to a 60k, so only 16k difference, i dont know how they figure it, but thats what the quote states and i made sure it was the correct car. he said just call back when i get it or i have 2 weeks to use the quote he mailed me,but it wont arrive that soon.

i am trading in the 2015 gt on this so its taking its place for that value.

 

[Steeeliskt]

well im changing out my 44K vehicle and moving to a 60k, so only 16k difference, i dont know how they figure it, but thats what the quote states and i made sure it was the correct car. he said just call back when i get it or i have 2 weeks to use the quote he mailed me,but it wont arrive that soon.

I just realized you're in AZ. Probably much less expensive there than out here in Los Angeles CA lol. Also replacing a higher value vehicle explains a lot too.

Just trying to keep everyone informed so they aren't getting bentover!!

 

[disneyfun1]

I just realized you're in AZ. Probably much less expensive there than out here in Los Angeles CA lol. Also replacing a higher value vehicle explains a lot too.

Just trying to keep everyone informed so they aren't getting bentover!!

i hear ya!!

 

[whysoblu]

There's a whole other exhaustive thread about this very same thing that I started over a month ago. I called them all, only great deal was Geico and I'm like the OP here 41, 2 cars and perfect driving record. $337 a half for the GT350.

 

[whysoblu]

Here you go: http://www.mustang6g.com/forums/showthread.php?t=33169

 

[EF300]

Now that my VIN shows up in the system, I was able to get a no kidding quote for my GT350. All I can say is wow. I expected my insurance to go up, but not to double. Just to clarify, I'm 39, have two cars (one being a 2014 BMW 335), and a clean record. I use USAA and have a $500 deductible. The GT350 is a third vehicle that will not be driven more than 4000 miles a year.

My cost is an additional $960 every six months. Prior to that, the BMW and my SUV were $880 combined. That's over $1800 every six months for insurance. Before this quote, I had a 2015 Z28 as a filler quote which cost just under $700. Better yet, my former 97 Supra w/ 600whp was a third of the cost of the GT350 (mostly due to the car's age).

So this isn't a gripe or complaint. It's a new car with 500+ HP, so the saying is, you have to pay to play. It is a warning for the younger future owners to check on your insurance rates before you pull the trigger on the purchase. Now that some car's have been built, it would be great to see some other insurance cost comparisons.

Welcome to FL

Sponsored