Liability Insurance

[supton]

Is liability influenced by number of airbags, abs, etc? Or just driver record?

Am wondering if I will be surprised if I pick up a jalopy and compare insurance costs on my old jalopy--which had abs and six airbags.

*

Saw my premium the other day, and was surprised to see that insurance on my Tundra is cheaper than my Camry. I guess it is one year newer, but the truck has much higher value. The only spot where the truck was more expensive was damage to my vehicle other than collision.

 

[Subdued]

Yes, because you also will carry a medical rider on the policy, and the safety of the car has a big influence on that.

Example, my Yaris is twice as much to insure over the van, yet I only carry liability on it. The van has full coverage.

 

[OneEyeJack]

Liability insurance that protects you from being sued by other injured parties in an accident affected by the number of air bags in your car???? Is this a trick question?

 

[supton]

Originally Posted By: OneEyeJack
Liability insurance that protects you from being sued by other injured parties in an accident affected by the number of air bags in your car???? Is this a trick question?


Not trick. Why is that you cannot buy a new car without airbags or abs?

ABS and VSC "prevent" accidents, at least those in charge believe that. Airbags reduce injiries to vehicle occupants. Thus, I could see an insurance comapny charging more for vehicles lacking that.

But I do not know for sure. Hence the question. My last car had abs and six airbags, but lacked VSC. My next jalopy might not have any of those. Might that raise the insurance by $20/year? $200? more?

 

[Jarlaxle]

Airbags didn't affect my premiums...though ABS did.

 

[zach1900]

anti lock brakes make an accident less likely
Airbags don't.

 

[Donald]

Liability is basically how much damage you could inflict on another (person and or vehicle).

So the liability on a 1 ton pickup is going to be more than a Camry. (Assuming they are both classified in the same way for driving, (daily, xx miles to work).

 

[zach1900]

My compressive and collision is pretty cheap on a 2001 Camry. Liability is always the largest portion of any policy. Cars can be replaced and fixed. People not so much.

 

[supton]

I am looking at the numbers for my Tundra and my Camry.

Liability $310 $245
$100k each person, bodily
$300k each accident, bodily
$50k property, each accident

Medical $32 $25
$5k each person

Uninsured motorists $61 $61
$100k each person
$300k each accident, bodily injury

Collision $569 $449
other than collision $81 $110

Tundra $890 vs Camry $1053.

I was surprised that my Camry costs more than my Tundra. My departed Jetta was going up to $400 per year for liability. But when it had collision it was only slightly cheaper than the Tundra.

 

[Nick1994]

My dad was an insurance agent for Farmers Insurance and I helped him a lot by writing quotes for customers. Funny thing with insurance is how you can move things around and the price not really change. Look into upping your collision to $100k, it literally might go up like $2.00.

Also at least with Farmers, it was cheaper to have lower deductibles than higher deductibles. (For example, $100 comprehensive deductible, and $500 collision deductible., that was cheaper than $500 on both.)

 

[Donald]

Originally Posted By: supton
I am looking at the numbers for my Tundra and my Camry.

Liability $310 $245
$100k each person, bodily
$300k each accident, bodily
$50k property, each accident

Medical $32 $25
$5k each person

Uninsured motorists $61 $61
$100k each person
$300k each accident, bodily injury

Collision $569 $449
other than collision $81 $110

Tundra $890 vs Camry $1053.

I was surprised that my Camry costs more than my Tundra. My departed Jetta was going up to $400 per year for liability. But when it had collision it was only slightly cheaper than the Tundra.


Are both of your vehicles rated the same way for how often and how far driven? Pleasure vs driving to work?

 

[dishdude]

It's all comes down to the history of that vehicle with the insurance industry. If it's a model that they have historically paid out a lot of claims on, the rates go up. And it's not just property damage claims, but bodily injury claims also.

You'll notice the cars younger people migrate to are most expensive, and the cars older people tend to drive are lower. Yes Miata and Corvette are sports cars, but typically driven by older drivers so they are the least expensive to insure. Civic SI, Tiburon, Cobalt, Scion TC are most expensive to insure because they are typically driven by new drivers and more likely to be wrapped around a tree.

http://www.bankrate.com/finance/insurance/10-most-and-least-expensive-cars-to-insure-1.aspx

 

[eljefino]

Originally Posted By: Nick1994
My dad was an insurance agent for Farmers Insurance and I helped him a lot by writing quotes for customers. Funny thing with insurance is how you can move things around and the price not really change. Look into upping your collision to $100k, it literally might go up like $2.00.


I always wondered about this, and it's probably b/c "responsible people" get more than the minimum insurance and they wreck less, too, so it's a wash. Though it's also a state secret so you have to peck away getting quotes to figure it out.

I've found that the older the car, the less its liability insurance, as the company assumes I won't be driving it 30k miles a year and therefore "out there" on the roads being a risk to them. I figured a 3rd gen firebird would be insurance trouble until I was pleasantly surprised, and, am again with my mercedes tank.

 

[supton]

My Camry and my Tundra are getting 25k and 28k respectively. I told my rep when I sold my car that the truck would go from 10k to 28k; but I do not think it made a diff. Small at most.

Same coverage on both.

 

[Panzerman]

Once a Car hits the 10 year mark, its crazy to carry anything except liability. Even if you had it since it was new and it was a creampuff. You are going to get market value on a wreck. Because of the year, they are going to total it with the slightest damage. Know your dealing with the devil when you deal with insurance companies.

 

[supton]

I should have dropped collision on my Jetta before the ten year mark, but did at ten.

I just want to have some idea on various car costs before buying and then finding out. Would be ironic to get a vaunted Corolla only to find out it costs more than a Jetta to insure,

[Read that ins was higher on two door Cobalts than four door Cobalts, for instance. Sounds like non abs is going to cost more. I doubt hundreds more, but still.]

 

[eljefino]

Originally Posted By: supton

I just want to have some idea on various car costs before buying and then finding out. Would be ironic to get a vaunted Corolla only to find out it costs more than a Jetta to insure,


Yup you should do your research in case idiots/ first drivers flock to toyotas, which anecdotally, could happen.

Hey, here's an anecdote: I was in traffic following this mess: Highlander has a blowout in the high speed lane of a 4 lane interstate, so he stops/ slows to 5 mph in the high speed lane, then signals to move right. Meanwhile all the traffic coming up behind him is slamming on its brakes and dodging right.

He makes it right a lane, now traffic is funnelling around him on his left AND right. He keeps this up, stopping, waiting for an opening, until, blissfully, he makes it to the breakdown lane. No mechanical sense, no operational awareness, no meta-awareness that his blocking his lane will increase traffic in the adjacent lanes. Picked a "reliable car" so the car wouldn't be part of his problems. And in the insurance pool with the rest of us.

Now he's going to spring for the $199 Nitrogen fill so he'll never have another blowout.

Sorry. Had to rant. Not picking on every Toyota owner.

 

[Turk]

I keep my Liability on ALL my cars at:

$250,000/$500,000

It'll cover most/all situations and is high enough that it won't wipe people out.

 

[hattaresguy]

I'm at $500k all around and $1m property with Travelers. $1,900 a year.

 

[qwerty1234]

I have a 2001 Honda Civic and I have liability and comprhensive. It is only $15 more a month and I keep it because my car is one of the most stolen. And I live in a high crime area of Chicago. I had a 86 Oldsmobile Cutlass stolen in my youth and it's not fun to come out to an empty parking space.