Insurance cost automatic vs manual

[hypecat]

OK,well, I bought a 2014 2LS about a month ago, insurance cost through State Farm $816 a year. I decided I really wanted a manual (I know, should have bought that from the start if it is what I wanted), so I traded it in on a 1LS... My insurance went up to $930 a year, What the????

[DuskED13]

Does it have all the safety features of the 2SS?
Also WTH $900 a year!?
My 2SS auto is $1,560 a year. Insurance is a mysterious made up number in the sky.

[PsychoZL1]

I've never heard of a insurance company charging more specifically due to whether or not the car has an automatic or manual transmission. Did you change any of the coverages or your deductibles?

I would call them and ask them the reason for the rate increase and see if they can come down in anyway.

[PalmerGA]

Originally Posted by DuskED13

Insurance is a mysterious made up number in the sky.

No... it isn't. I'm not an insurance expert, but I do know there are several key factors that determine cost.

One is YOU - your age, how many years you have been driving w/o an accident, how many moving violations you have had in the past 5 years, whether you use your car for business/pleasure/to and from work/to and from school/etc, and how many miles you drive your car per year. Another is your LOCATION - urban/suburban/rural, crime statistics for your area (mainly car thefts and vandalism). Another factor is the car itself - How many airbags, safety ratings, type of alarm system, horsepower, classification (sedan/coupe/sports car/convertible/etc). Lastly, your deductible amounts - the higher your deductible... the lower your premium.

Typically, I believe the personal information weighs the heaviest regarding the difference between what you pay vs what someone else pays with the same car - it's "risk" determination that all insurance companies do.

As a 60 year old who has not had an accident or a ticket in over 20 years (knock on wood) and been with the same company for over 30 years, the premium for my Camaro through State Farm is $466 per year.

Additional factors for me: multi-car discount (I also have my truck insured with SF), multi-policy discount (my homeowner's is with SF), safe driving discount.

It's not a made up number - the factors are very closely scrutinized and the cost is based on risk assessments determined by many years of collected data.

[baum]

The real question is... owning the car for a month how much did you take a hit on??

its funny i want to trade my '13 for a '14 just to get a white car...


Im with SF also and they are dicking me i feel... i pay close 90 a mo. i have 2 other cars with them, home, personal property... when i signed the car up since it was a "new" policy i didnt get the all the discounts on the camaro they said.. sad for them im looking to change.. I pay almost as much for my camaro as i do my '13 ram and a '12 passat combined

[jd10013]

Originally Posted by DuskED13

Insurance is a mysterious made up number in the sky.

lol, not at all. it's simply risk management. insurance rates are based on statistical data which in turn is based on factors such as area, vehicle, driver.

at the end of the day, it all boils down to how likely you are to file a claim. that is effected by you, the vehicle, and where you drive it. and that is subject to change. insurance rates go up and down in any given time for any given vehicle depending on how the statistical data changes. if, for example, the number of vehicles that are stolen in your area quadruples, then insurance rates in that area are going to go up. or, if the number of reported claims drops by 50% you'll see other companies start offering cheaper policies to new customers to get them to switch.

[E.T.]

Hope they didn't hose you too much on the trade in. Normally, you lose like 20% of the car's value as soon as you drive off the lot.

[ssrs2lt]

Insurance is a great ploy to take advantage of you especially during a time of need. That being said can't explain the difference or uptick??

[hypecat]

Everything is the same other than the tranny, it's still me, I live in the same place, nothing changed.

It cost me 2K minus the $750 USAA rebate, so $1,250

[not]

Originally Posted by jd10013

lol, not at all. it's simply risk management. insurance rates are based on statistical data which in turn is based on factors such as area, vehicle, driver.

at the end of the day, it all boils down to how likely you are to file a claim. that is effected by you, the vehicle, and where you drive it. and that is subject to change. insurance rates go up and down in any given time for any given vehicle depending on how the statistical data changes. if, for example, the number of vehicles that are stolen in your area quadruples, then insurance rates in that area are going to go up. or, if the number of reported claims drops by 50% you'll see other companies start offering cheaper policies to new customers to get them to switch.

The govt, think it may be the FTC, whomever, is now investigating insurance companies for rate/price "optimization". An insurance company looks for policy holders that are paying close to premium prices and then looking at what other insurance companies would charge them for the same coverage. They then increase the price in-kind at renewal, knowing that 75% of people just renew and don't shop around.

Oh here is something I learned: you need not wait until your present insurance is due to expire to change coverage, even if you prepaid the entire amount. You can get a quote, change that very day, call your present insurance, tell them and the balance in the form of a check will be mailed to you.

Good luck.

[jd10013]

Originally Posted by not

The govt, think it may be the FTC, whomever, is now investigating insurance companies for rate/price "optimization". An insurance company looks for policy holders that are paying close to premium prices and then looking at what other insurance companies would charge them for the same coverage. They then increase the price in-kind at renewal, knowing that 75% of people just renew and don't shop around.

Oh here is something I learned: you need not wait until your present insurance is due to expire to change coverage, even if you prepaid the entire amount. You can get a quote, change that very day, call your present insurance, tell them and the balance in the form of a check will be mailed to you.

Good luck.

car insurance is regulated by the state. they would be the ones investigating. insurance companies operate in a free market and are allowed to charge you whatever they want. if someone wants the best price it's incumbent upon them to shop around. that's not the insurance companies job. just like when you you buy anything else. as for changing, in most states you can do that any time you like. they have to refund you any unused portion of your insurance.

[jd10013]

Originally Posted by hypecat

Everything is the same other than the tranny, it's still me, I live in the same place, nothing changed.

It cost me 2K minus the $750 USAA rebate, so $1,250

I'd ask them. most likely they were getting ready to do a rate increase in your area and you would have seen your insurance go up when you renewed it. you also could have lost a discount or two that you had on your previous policy. a lot of companies offer you a one time discount when you write your first policy for example.

[40years]

One of the tricks is to never cancel an auto policy. If you're trading in a car on a new one, tell them to remove car "A" on the policy and put car "B" in it's place. That way, they are not writing a "new" policy.

[hypecat]

Nothing else changed, I didn't cancel the policy, there was no rate increase, the only difference is the first one was a 2014 2LS, the new one is a 2014 1LS, same color, same exact car other than the transmission. I had the 2LS for just over one month.

I am the same driver, live in the same place, nothing else has chnaged!

My agent said this was the part of the VIN that made a difference:

2G1FAxxxxxxxxxxxx vs 2G1FExxxxxxxxxxxx

The FA comes up as a 2 door, the FE comes up as a 2 door coupe... WTF?