First time adding a new purchased car: '24 Civic Hatchback Sport 6spd Manual (35m, 35f Maryland) - premium shock

[namaoza]

Progressive:

• 2018 Honda Odyssey EX-L - owned/financed
• 2024 Honda Civic Hatchback Sport - owned

So I got a shock this morning when I went to my email. I purchased a new '24 Civic Hatchback Sport 6 speed Manual a few days ago that replaced a '07 Civic LX automatic. I had minimum coverage on the old Civic and even though I paid cash for the new Civic I put full coverage/collision to match the Odyssey we have that is financed.

Our policy renews in February and when I replaced the old Civic with the new one it cost an additional $78 (that should have been my first tip off that it added about $40/month of coverage). Now I got an e-mail that my auto renewal is all set and the premium is now $931 (up from $561 back in August on a 6 month policy), that's a $370 increase to insure a new vehicle.

Here are my coverages (I have homeowners, motorcycle - '01 Honda Shadow 750, and auto through Progressive):

• Bodily Injury/property damage liability: $100k each person/$300k each accident/$100k each accident: $159 Odyssey, $146 Civic
• Uninsured Motorist Bodily Injury/property damage: - $100k each person/$300k each accident/$100k each accident with $250 UMPD deductible: $25 Odyssey, $29 Civic
• Personal Injury Protection: $2,500 Guest PIP: $5 Odyssey/Civic
• Comprehensive $500 deductible: $69 Odyssey, $102 Civic
• Collision $500 deductible: $119 Odyssey, $129 Civic
• Rental Reimbursement ($40/day - $1,200 max): $22 Odyssey, N/A Civic
• Roadside Assistance: $5 Odyssey, N/A Civic
• Custom parts/Equipment value: N/A
• Loan/Lease Payoff: N/A
• Total Premiums: $404 Odyssey, $411 Civic ($815; this is going up to $931 on renewal)

I figured going from an old beater on minimum coverage to a new car with comprehensive/collision was going to increase my premium, but I didn't think it was going to go up $62 per month...

I've been with progressive 3 years and from what I can tell they average the lowest premiums in Maryland. I also had a payment snafu two years ago (credit card was replaced but forgot to update it on the auto pay) that caused a laps in coverage that I had to pay the Maryland fine for but by all accounts Progressive is still viewing as continuous coverage.

Should I update any of my coverages and do you think there may be a better provider? My buddy has always pushed me towards Erie Insurance but every time I have them quote me they can't hold a candle to GEICO and Progressive.

 

[kejuli]

@namaoza I mean that increase is hardly surprising you’re swapping a 17 year old vehicle for a brand new one that’s going to be more expensive to repair if you’re ever in an accident.

The good news is you have great coverages so doing comparison shopping should be easy.

 

[jayisscott]

@namaoza Loyalty to an insurance company doesn’t seem to offer many (or any?) advantages. It’s a pain the ass, but the most common advice here is for you to shop for insurance every 6 months even if it is just to check.

No one can tell you if progressive is over priced given the situation. That answer may come when you shop around for quotes. Good luck OP.

 

[vgjcm]

@namaoza Sounds normal. I'm in VA and my 2018 Honda Civic with max coverage is about $360 every 6 mo. When I bought it, it was replacing an old beater as well (97 civic, $200 every six months) so the jump didn't exactly surprise me.