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KAustin

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Looks like I may be switching from Geico to Erie for home and auto unless Geico comes in with a decent quote. Switching to Erie would only be a $15 increase/month when adding the Mach-E.
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eastern refugee

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Bad assumption...cost is essentially irrelevant. As for not knowing the actual repair costs due to history has SOME merit but not much. It is made out of same material as other fords except for the batteries. Tesla is WAY more as I have stated on this forum MANY times. The MME will be less than $100 a month to insure. if it is more then you need to shop your insurance,

I may not know much about engineering but there is no one on this forum with more expertise in insurance than me. i have been doing this in excess of 30 YEARS. What most people think is relevant in terms of insurance is Not. I posted a book a week or so back.
 

Gimme_my_MME

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Bad assumption...cost is essentially irrelevant. As for not knowing the actual repair costs due to history has SOME merit but not much. It is made out of same material as other fords except for the batteries. Tesla is WAY more as I have stated on this forum MANY times. The MME will be less than $100 a month to insure. if it is more then you need to shop your insurance,

I may not know much about engineering but there is no one on this forum with more expertise in insurance than me. i have been doing this in excess of 30 YEARS. What most people think is relevant in terms of insurance is Not. I posted a book a week or so back.
It's true, I read it and learned a ton
 

eastern refugee

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It's true, I read it and learned a ton
thank you. The issue with insurance is people spend thousands of dollars a year on it and know very little. The same people will spend $100 dollars on sneakers and spend an hour making sure the fit andcolor are perfect while only spending 15 minutes on their insurance. The reason is simple. They think they understand it and whatever they are told makes logical sense and meets their expectations. It is only when they decide to REALLY understand that all of a sudden a light goes on.

Tesla started their own insurance company not because they wanted to save money for their clients but instead to create another income stream. If you honestly tear apart a Tesla insurance policy you would not walk but RUN in the opposite direction.

Tesla, Geico and AAA have licensed agents but all they are only interested in selling. The coverages etc are irrelevant. Why??? Because they have ZERO vested interest in their clients. They will never see or talk to them again. Progressive has TWO insurance companies. Progressive which is where you go on your own and Drive insurance where brokers like me use. The prices are the same but brokers theoretically make sure that your coverages are right. Progressive wants to know where their business is coming from. As such they try to give extra discounts to Drive customers if they transfer over to progressive. In this way the company saves money and liability because YOU choose the coverages. If you screw up it is ALL on you. With Drive they and the Broker could potentially be liable for a screw up.
 

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MattG

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What's your 2019 Mazda CX-5 (turbo) currently sell for?
KBB value is ~25k. However, the insurance cost on our much less expensive 2016 Subaru Crosstrek is virtually the same. We have all the discounts...multi car, homeowners with same company, good driver discounts. Cars do live a tough life in this state...with deer, hail, and rocks, bodywork and windshield replacement is common in a car’s life! I think the windshield replacement on this CX-5 was around $2500!

The increase for the Mach-E is mostly in the collision and comprehensive coverage....so it seems they’re expecting repair costs to be higher.
 

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My quote from USAA for MachE was slightly lower than my Audi Q5. Less than $100 a year difference. May change when I use an actual VIN number for a quote but I doubt it.
 

eastern refugee

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My quote from USAA for MachE was slightly lower than my Audi Q5. Less than $100 a year difference. May change when I use an actual VIN number for a quote but I doubt it.
As I have stated...the MME will be less than $100 per month assuming the usual suspects....multi-car, auto home, good driver.
 

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KBB value is ~25k. However, the insurance cost on our much less expensive 2016 Subaru Crosstrek is virtually the same. We have all the discounts...multi car, homeowners with same company, good driver discounts. Cars do live a tough life in this state...with deer, hail, and rocks, bodywork and windshield replacement is common in a car’s life! I think the windshield replacement on this CX-5 was around $2500!

The increase for the Mach-E is mostly in the collision and comprehensive coverage....so it seems they’re expecting repair costs to be higher.
I just think insurance for a vehicle that is worth $25K might be less than insurance for a vehicle that is worth $50K don't you think?
 

eastern refugee

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I just think insurance for a vehicle that is worth $25K might be less than insurance for a vehicle that is worth $50K don't you think?
how insurance rates have drastically changed over the past 10 years. The actual price of the car is NOT a major factor. What makes up the car as well as newer ever changing safety equipment effects rates. Demographics as well as geographic affects prices. Just because two cars have the same price does not mean they are equal.

salvage value is a calculation because salvage value decides the difference between a car being totaled versus being repaired. A luxury car such as BMW or MB can have a salvage value of 40%. An American car can be 10-20%. what does that mean??? A BMW bought at$50K May depreciate to $40K the moment it leaves the lot. Air bags cost $3K roughly. 5 airbags would cost $15K. At $40Kmarket value with a salvage of 40% that means the insurance company will get $16K if the car is totaled. So now the repair costs has to be less than $24K. If 4 air bags are deployed you are now down a max of $12K that can be repaired. So you can see that this BMW has a greater chance of being totaled rather than being fixed. If a Ford is the same cost but the salvage value is far less then the ford has a better chance of being fixed so maybe this car costs less to insure.

in short the price is really no longer a factor. It is repair costs plus in a major metro area the chances of an accident is greater then in a rural area. The price of that same car will cost more in metro versus rural. Now count in demographics. A 20 year old is more likely to have an accident than a 40 year old due to experience. So now price does become a factor in the cost. A 20 year old is less likely to be able to afford buying a $60K car than a 40!year old. Let’s go a step further a focus ST is more expensive to insure than a focus RS.The Focus ST costs about $24-30K but a Focus RS was north of $42K. Why would a cheaper car so much more than a more expensive car??? Demographics. Younger kids will buy an ST and drive like they are on the track. The TS had a demographic of people in their 30-40s. They drive more conservatively and therefore less accidents.

bottom line is car price does effect insurance costs but not to the degree it used to. Like everything in life analytics is taking over and is determining insurance costs. Cars change so much on a yearly basis so history is not as reliable as it used to be. In the past changes were more cosmetic or changes in engines/transmissions. Today it is more about safety and computerization in the cars themselves.
 

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My quote from USAA for MachE was slightly lower than my Audi Q5. Less than $100 a year difference. May change when I use an actual VIN number for a quote but I doubt it.
I got a quote from USAA using my VIN and got the following:

Ford Mustang Mach-E Mach-E Insurance Price Quote. How Is Yours? Mach E Premium.JPG


So, an increase of approx. $26 per month for a similar type vehicle that is six years newer. Looks like a win to me. For reference - you know that annual safe driver discount? I never get them. Something to do with my "real" mustang's supercharger and the associated annual speeding ticket.
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