Mach-E Insurance Price Quote. How Is Yours?

[eastern refugee]

I got a quote from USAA using my VIN and got the following:

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.

What state do you live in?? Is this $941 for the MME for 6 months by itself??? I find this fascinating S an insurance agent and I want to know what aspects of you and where you live make this up.

 

[mamejunkie]

What state do you live in?? Is this $941 for the MME for 6 months by itself??? I find this fascinating S an insurance agent and I want to know what aspects of you and where you live make this up.

From the profile, Alaska.

 

[eastern refugee]

From the profile, Alaska.

Thanks.

 

[trutolife27]

USAA quote

 

[Mopey]

What state do you live in?? Is this $941 for the MME for 6 months by itself??? I find this fascinating S an insurance agent and I want to know what aspects of you and where you live make this up.

Alaska and 2 expensive cars, one with 670 hp.

 

[MerryBrown]

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.

Hm, that doesn't seem to be my experience with my company. Expensive cars cost more to insure than less expensive cars over all.

 

[mamejunkie]

Hm, that doesn't seem to be my experience with my company. Expensive cars cost more to insure than less expensive cars over all.

I believe what @eastern refugee is saying is the cost of the repair plays a bigger role. Expensive cars may be more expensive to fix...if so, it will cost more. But its due to the cost of repair, not because of the cost of the car itself. IF in a alternate world a $400,000 car cost $1 to repair, the insurance would be dirt cheap.

 

[eastern refugee]

I believe what @eastern refugee is saying is the cost of the repair plays a bigger role. Expensive cars may be more expensive to fix...if so, it will cost more. But its due to the cost of repair, not because of the cost of the car itself. IF in a alternate world a $400,000 car cost $1 to repair, the insurance would be dirt cheap.

Thank you!!!! That is EXACTLY what I am saying.

 

[CHeil402]

I just got my VIN so checked out swapping my 2017 Audi A4 with the MME and the 6 month premium went DOWN by $40... at least for the time being.

 

[Bookworm214]

Checked with my State Farm agent and the Mach-E isn't in their system yet. He checked using the MSRP and estimated it would be about $105 more every six months. He said to check back closer to delivery date and he should have an more exact number.

 

[MailGuy]

Checked with my State Farm agent and the Mach-E isn't in their system yet. He checked using the MSRP and estimated it would be about $105 more every six months. He said to check back closer to delivery date and he should have an more exact number.

Odd, I got a very competitive quote based upon my VIN, and yes it said it was a MachE.

 

[jetermeyer]

I just checked with Metropolitan Life where I have home and Auto. I get quite a few discounts, over 65, multiple autos and home, Safe driver, etc... They quoted me $30 less then my current 2018 TLX for my premium awd extended range. They also offer monthly payment at no extra costs automatic deductions. I live in MA which is not known for low insurance costs. So I was quite pleased with their rates.

 

[methorian]

Anyone get any info out of Geico yet? Their online configurator still doesn't have the Mach-E and my VIN doesn't work there. Tried calling a few weeks ago but after a 30min hold I gave up.

 

[timbop]

Anyone get any info out of Geico yet? Their online configurator still doesn't have the Mach-E and my VIN doesn't work there. Tried calling a few weeks ago but after a 30min hold I gave up.

I called and got a rough quote that was $20 a month more than my convertible mustang

 

[ChasingCoral]

My insurance (Allstate) agent called to wish me a happy birthday and see how things are going. Of course, I mentioned the new Mach E was coming. He was all interested to hear it but was a little concerned it might be expensive to insure. He was pleasantly surprised and I can add another data point that says it's not expensive to insure the Mach E. Six-month premiums:
2016 Leaf $574
2021 Mach E $597
$46 per year more than the Leaf.

As @eastern refugee said, it's not the cost of the vehicle that matters, fortunately.

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