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Auto Insurance Reductions #5404081 04/15/20 03:35 PM
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PontiacHO Offline OP
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Asking if anybody here has had success asking your auto insurance providers for reductions since we all are not driving?
I’m with Nationwide (43 years) but that don’t mean much....
Thanks

Re: Auto Insurance Reductions [Re: PontiacHO] #5404087 04/15/20 03:39 PM
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atikovi Offline
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Would you ask your lender for a reduction of your monthly payment for the same reason?

Re: Auto Insurance Reductions [Re: PontiacHO] #5404110 04/15/20 03:55 PM
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PontiacHO Offline OP
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It’s about less risk exposure when a vehicle sits. Insurance premiums are there to cover anyone against risk exposure. Not sure I’m getting your point. What’s owed is what’s owed for vehicle loans....

Re: Auto Insurance Reductions [Re: PontiacHO] #5404111 04/15/20 03:57 PM
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Quattro Pete Offline
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Similar topic already being discussed a few posts down:
https://www.bobistheoilguy.com/foru...7451/auto-insurance-rate-cut#Post5397451


2002 530i   2015 Q5 3.0T   2018 Charger SRT
Re: Auto Insurance Reductions [Re: PontiacHO] #5404113 04/15/20 04:01 PM
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SubieRubyRoo Offline
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USAA issuing rebate of 20% for next two months.

And atikovi, if you're not driving the vehicle at all or at a greatly reduced amount, why WOULDN'T you expect to pay less? Insurance cost is based on risk. Risk comes from exposure. Reduced exposure = reduced risk = reduced insurance cost.


De omnibus dubitandum.
Re: Auto Insurance Reductions [Re: PontiacHO] #5404115 04/15/20 04:03 PM
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Rand Offline
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yep its pennies.. I heard their risk/payouts are down over 60% so sure pay back a few pennies.. and keep excess billions of profit.


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Re: Auto Insurance Reductions [Re: PontiacHO] #5404117 04/15/20 04:04 PM
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Rand Offline
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yep its pennies.. I heard their risk/payouts are down over 50% so sure pay back a few pennies.. and keep excess billions of profit.

Originally Posted by atikovi
Would you ask your lender for a reduction of your monthly payment for the same reason?



uh insurance is based on risk, monthly car payment is on loan.

since the risk is HIGHLY reduced they will be profiting in the 10's of billions yes I'd like some of that back.. thanks.


2019 Jeep Cherokee Trailhawk 2.0T
2020 Hyundai Elantra "Value Edition"
Re: Auto Insurance Reductions [Re: PontiacHO] #5404118 04/15/20 04:04 PM
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azjake Online Content
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I have GEICO and they said they will be giving the 15% reduction as policies come up for renewal. Mine comes up at the end of May, so hopefully I will see the reduction then.


2019 Kia Niro EX w/Premium pkg.
Re: Auto Insurance Reductions [Re: PontiacHO] #5404119 04/15/20 04:05 PM
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PontiacHO Offline OP
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Thanks. Sorry about starting another thread on the topic . Requesting it be deleted please.






Last edited by PontiacHO; 04/15/20 04:08 PM.
Re: Auto Insurance Reductions [Re: PontiacHO] #5404124 04/15/20 04:07 PM
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wwillson Online Content
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I checked every year for about 5 years, and found no cheaper coverage. Then a couple years ago State Farm was about 40% lower than they were the year before! I changed and the price hasn't gone back up. It pays to be persistant.

Re: Auto Insurance Reductions [Re: PontiacHO] #5404126 04/15/20 04:08 PM
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wkcars Offline
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Can you go in and update the estimate annual mileage to get lower premiums.

Re: Auto Insurance Reductions [Re: PontiacHO] #5404127 04/15/20 04:09 PM
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paulri Offline
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Mercury (my ins co) is giving back 15% for two months--not sure how that will happen, but that's what they've said on their website. My autopay rates haven't lowered yet, but we'll see.


2005 Toyota Sienna LE; 171,000 miles
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Re: Auto Insurance Reductions [Re: PontiacHO] #5404128 04/15/20 04:10 PM
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pbm Offline
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They got to pay for those stupid commercials....so don't expect much back.....but the OP makes a very VALID point....


'Journalism is Dead'
Re: Auto Insurance Reductions [Re: SubieRubyRoo] #5404139 04/15/20 04:18 PM
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atikovi Offline
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Originally Posted by SubieRubyRoo
USAA issuing rebate of 20% for next two months.

And atikovi, if you're not driving the vehicle at all or at a greatly reduced amount, why WOULDN'T you expect to pay less? Insurance cost is based on risk. Risk comes from exposure. Reduced exposure = reduced risk = reduced insurance cost.


That's your choice not to drive at all or at a greatly reduced amount, and even if you say you do, how can it be measured unless you have those things that plug into the OBD2 socket? Let me give another example. If your rent includes electric, gas, water, cable, shouldn't your landlord be allowed to ask for 20% more rent since you're at home more using more utilities?

Re: Auto Insurance Reductions [Re: atikovi] #5404182 04/15/20 04:50 PM
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Rmay635703 Offline
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Rent mortgages and property taxes should all be null for the time being lest we have millions more newly created junk properties getting condemned and demolished this spring.
(As happened in 2009, most were never rebuilt because the lots are non-conforming)

Originally Posted by atikovi
Would you ask your lender for a reduction of your monthly payment for the same reason?


If you don’t drive your car should be under storage on your insurance which in many cases is zero
Mthe trouble is that insurance companies are [censored] about how long something needs to be in storage and will even jack up rates if you use it legitimately for a seasonal vehicle

I once thought mandatory car insurance would be a good thing, but since it went mandatory here the number of uninsured drivers skyrocketed and my insurance rates tripled virtually overnight.

I now believe mandatory car insurance should be banned as it does absolutely none of the things it is supposed to and if anything made things a lot worse.

Last edited by Rmay635703; 04/15/20 05:04 PM.
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