Insurance Costs - Increase

[snowdoggie]

It does makes me wonder, just like some people will register their car "out of state" for benefits such as taxes/fees, maybe it would be worth it to get an "address" in low rate states such as MI/NH/VT/OH/ID and use that for insurance purposes. Has anyone tried this?

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[Mr Breeze]

It does makes me wonder, just like some people will register their car "out of state" for benefits such as taxes/fees, maybe it would be worth it to get an "address" in low rate states such as MI/NH/VT/OH/ID and use that for insurance purposes. Has anyone tried this?

I think you would need residency in the other state.

 

[MonkeyNutz]

I think you would need residency in the other state.

Most states require a vehicle to be registered to a property owned/ leased or occupied. And the vehicle usually has to spend a certain amount of time there. Otherwise everyone would be buying their car with a Montana LLC attached to a PO Box or similar so they could have no sales tax and cheap registration. Some states also have requirements that say a vehicle that spends more than half its time in that state, it must be registered there. I don’t know how some of those can be enforced without some serious big brother information gathering, but that’s the nutshell explanation. I’m in Colorado where our license and registration fees as well as insurance are quite high compared to the national average. But we’re also a home rule state when it comes to sales tax, and I live outside city limits, so my sales tax is only 3.9%, so yay for that…

 

[JoeBeach]

I have been with State Farm for 71 years which might explain part of the cost of insurance for me but it is $1113 for 6 months for my MME. No chargeable accidents during that time. I have been hit from the rear a couple of times.

 

[dalola]

I have been with State Farm for 71 years which might explain part of the cost of insurance for me but it is $1113 for 6 months for my MME. No chargeable accidents during that time. I have been hit from the rear a couple of times.

lol... all the professional athletes in the SF commercials thank you for your contributions.... ?

 

[snowdoggie]

There's a report that was recently published talking about increase in insurance rates YoY, for 2025 MD NY DC are the top 3 states with increases. Also it talks about how EV cost of repairs are higher (Thanks tesla), they didn't specifically mention MME but has F150.

https://insurify.com/car-insurance/report/

 

[Mr Breeze]

I have been with State Farm for 71 years which might explain part of the cost of insurance for me but it is $1113 for 6 months for my MME. No chargeable accidents during that time. I have been hit from the rear a couple of times.

State farm just gave me a quote of 1280 for 6 mos for my MME and my model Y good price but I heard so many bad stories of people trying to collect I passed

 

[Listedguru]

State farm just gave me a quote of 1280 for 6 mos for my MME and my model Y good price but I heard so many bad stories of people trying to collect I passed

I'm in MI - Metro Detroit area and my SF agent quoted me a little over $300 per month for a MME. I think the Premium was $302 per month and the GT was $319 per month. No tickets and I have a 24 Mustang GT (5.0) that I pay under $200 per month for. I was shocked at the rate I was quoted for these MME's

 

[dalola]

Here's a little tip for anyone who might be interested: The insurance companies that take the best care of their customers and have the most competitive rates, do not have national TV commercials, or pay professional athletes. ?

 

[sparkout]

Ugh, Im in norcal and just got my renewal notice, even though no accidents they raised my insurance 23% YOY with progressive.
This is INSANE
2022 - $483.88
2023 - $657.47
2024 - $877.88
2025 - $1078.88

Any community recommendations on next actions or a good alternative? (sorry no USAA, due to other than honorable)
I know I may be paying for bad drivers, theft, and maybe the fires but damn.

Location location location has everything to do with it. In some cities, it's known as redlining, crossing that border and living in a different location will make a big difference.

 

[Mr Breeze]

Location location location has everything to do with it. In some cities, it's known as redlining, crossing that border and living in a different location will make a big difference.

My renewal comes up in June hope it’s nothing like that

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