[av_in_bc]

hi there
i just transferred my ICBC (Canada) car insurance and was quite surprised
that i had to pay almost a thousand dollars (can) extra for the year.
i have full discounts for safe driving.
this pretty much negated most of the fuel savings i was hoping to get (i'm ruined)
my question is why is a 19000.00$ prius cost more than a 23000.00 mazda to insure.

 

[vegas1]

Insurance premium reflects the cost of repairing a car, not how much the car costs originally.

Expensive parts (non-standard voltage bulbs for example), integrated exterior panels (have to replace the whole bumper and cover and panel...for example), non-steel panels (fiberglass, composite, aluminium) have to be replaced and not repaired...are some examples that would make it more expensive to repair a car.

Here in the U.S., insurance companies categorize cars into groups based on their repair cost history. For newer cars, an educated guess (usually pretty accurate) has to be made.

 

[ggrimaud]

I just got a price quote from Progressive to replace my 1998 Subaru with a 2004 Prius. I used the same coverage values, but I added the loan repay option. My primium will be $27 more for six months. That is an increase from $462 to $489. Happily this isn't just academic because I got a call from the dealer saying thay my Tideland BC is in port. I can't work, sleep, think. This is worse than just waiting!

 

[Daniel]

My insurance rates roughly doubled when I went from my 1989 Civic (market value US$2,000) to my 2004 Prius. Fortunately for me, I didn't buy the Prius to save money. If saving money is important to you, never buy a new car.

 

[AgentElrond]

Insurance rates will also depend on the deductible; the higher the deductible you're willing (or able) to pay out-of-pocket IF something happens, the lower the rate.

 

[Spinnaker]

I went from a 1993 SL2 Saturn to my new 2005 BC Prius. Full coverage, zero deductable w/ all the discounts (Good driver, car safety systems, etc.) It's going to cost me $33.50/month more.

Not a great deal more, but yet another bite out of the 'ol wallet.

 

[TNTNA]

Did you all have comprehensive on the older cars? A lot of people will drop comprehensive on a vehicle once it's 7-8 years old. If you went from liability to comprehensive that would explain the large premium increase. The 2001 Prius cost us less the first year we had it than the 96 Rodeo that we had on the same policy. Still can't figure that out.

 

[rubear]

Geico quoted me $600 / year for my Prius.

 

[milehighmiser]

Geico quoted me $1500 !! I have a spotless driving record (for over 20 yrs.) and only drive 3000 miles year. What the heck?!?!? :?

 

[rubear]

Geico quoted me $1500 !! I have a spotless driving record (for over 20 yrs.) and only drive 3000 miles year. What the heck?!?!? :?

Maybe these are factors:
1. I have four cars insured with them, but only myself and my wife drive.
2. I drive only about 6,000 milers per year.
3. I do not have children.

 

[rubear]

Also, rates depend on where you live. I am in Sequim, WA.

 

[oxnardprof]

State farm insurance published a rating system for newer cars.

See this link: http://www.statefarm.com/media/release/vehrat.asp and then you can click to a pdf file listing cost factors.

The Prius was bumped up slightly due to anticipated relative repair costs in a collision. The liability and personal safety factors are favorable.

 

[Tadashi]

If any of you have family in the service or were in the service you can try USAA.

Two 05 prius cost me the same as my 04 F250 and 01 Civic. We have a spotless record, safety and security feature discounts, def driving course discount, multi-car discount, $250 deduct. It costs me about $800 a year for each. Not the cheapest around but they do give me a lot of extras. For instance when my F250 was stolen I was not paying for rental insurance but they gave it to me anyways.

The other nice thing is that USAA does a survey for what your car is worth in that particular area (instead of just blue book value). So in the case of my truck it was worth $3k more than blue book.

I was thinking about a collision and I think the Prius would basically be a total loss. It is made to crumple to absorb the dmg not to metion the 7 air bags that would deploy. Best case about $2k per air bag to replace and any body dmg $2-5k give or take would be about $16-19k (labor included). Heck that is almost 60% of the total vehicle cost.

 

[kchan2752]

What increase?

I traded in a 2004 Jeep unlimited for my 2004 prius and my insurance premium went down 100 bucks a year

 

[LisaMurray]

Just got off the phone with my insurance agent. Trading my 2003 Honda Pilot to a 2005 Prius will cost me an additional $53 per year. I'll save that much in gas the first month!