N.C. pricing variability on auto insurance

[chalombrit]

Is there not much flexibility in rates or is it just mee I have a 20yo saturn. No accident. Excellent credit. Basic coverage. And I'll be damned if it's near $500 a year. Is Geico nailing me? Or is it worth the price?

 

[byways4life]

@chalombrit 500 a year is very cheap.

Also, you should definitely not be rocking basic coverage. Yeah, it's a 20 year old saturn. You probably don't need comp/collision.

However, your 20 year old saturn can cause 500k+ of damage just as easily as a brand new rolls royce. You want to have coverage that will actually cover you. State minimums are absolute garbage. You hit a newer car? Rear end? In the past that might've been a couple hundred bucks to replace. With sensors/cameras etc in the bumpers now, you're looking at a couple thousand. And that's just for a bumper.

If you cause damage beyond your liability limits, good luck, because you'll probably end up declaring bankruptcy if your insurance company can't settle within policy limits.

 

[resjudicata]

@byways4life Agree. I don't write policies for state minimums. Just won't do it.

 

[chalombrit]

@byways4life Helpful insights, thanks. ... Christ's sake a nut on a Bugatti is hight enough let alone someone else's medical

 

[name123]

@chalombrit $500 a year in NC is cheap. $500 a year in many states of really fucking cheap, we have some of the lowest rates in the country. And be happy, I have customers paying $500 a month.

 

[chalombrit]

@name123 How dafuq do you survive at 5/mo

 

[name123]

@chalombrit No idea. But hey that new car is worth it right!? /s.

Honestly I'd say it goes back to financial literacy. These customers have new cars, terrible credit and a rough driving history.

 

[chalombrit]

@name123 Jc. That must be what prison is like

 

[anotheruser]

@chalombrit yeahhhhhh, about that "Basic coverage". change the filter on this sub to most recent and scroll down about 9 posts and see the person who is rocking basic coverage and being sued for an amount several hundred thousand beyond the basic coverage they carry.

when you continue shopping around, you'll find that to increase your limits substantially will equate to dollars per month. you can't put a price on peace of mind.

 

[chalombrit]

@anotheruser Funny thing. I hate gambling. But I have been gambling sine I started driving and didn't know it. Thinking about it as piece of mind helps.

 

[elle1994]

@chalombrit Have you shopped around? There can be a wide variety of prices, depending on what risk factors each company caters to.

 

[godsgirl90]

@chalombrit Find an independent agent. Call one that sells Erie insurance.