Is insurance on Hybrid higher?!

I liked the Psy theory better

 

New Mexico: The cost to insure our '04 Prius is less than the '96 Subaru.
Both have 250k/500k liability, no comp or collision

Prius are involved in less accidents, but cost more to repair after an accident. OTOH they are very infrequently stolen. This data suggests the *general* relative insurance costs will be as follows:

1. Liability will be less
2. Collision may be more
3. Comp will be less

 

We pay $60 a month for my wife's 09' Camry and were told by State Farm that if we switch to a 13' Prius it would be roughly $15 more... We too are in LA Clunty

 

Yep on the bolded part.

And yes, I wouldn't be surprised if CA's insurance rates are higher than FL. One of my former roommates switched his insurance saved a ton of $ by switching from the 90024 zip code in CA to WA state temporarily while we were interns at the same company in WA. My rates also went down when I moved from CA to WA. They went back up when I moved from WA back to CA.

MY350Z.COM Forums - View Single Post - The Top 100 Common Questions also makes comparing insurance rates between two different people worthless.

 

My insurance bill when down 80 bucks a month, when I switched from my 2010 370Z (19K value) to the Prius, now it's about 50 bucks a month I also traded my 2007 Honda Civic (7K value) awhile back for my wife's Prius and the bill when up 5 bucks a month. My insurance agent tells me it is not only because of the value of the car. It is also about how many payouts ie accidents and theft around your zip code for that type, make, and model of vehicle. So shop around, different insurance companies have different losses in various zip codes.

 

I went form a 2011 Buick Regal to a 2010 Prius, my insurance went down. Florida tags probably had something to do with it as well.

 

There is no way your rate went up $50 a month just because you bought a hybrid. It had more to do with your move to another state than anything else.

 

I went from a 2009 Kia Rio SX to a 2010 Prius II and Travelers Insurance sent me a refund check for $18 for the 4 months remaining on the 6 month policy. I asked why and they said far fewer claims with the Prius than the Rio.

 

Exactly right.

 

My insurance went up when I bought a Hybrid. I was told my 2011 Camry was a Tier 2 car, and the 2013 Prius is a Tier 3 car. Has something to do with it's more expensive to repair.

 

This gives me an opportunity to plug USAA, which insures those in the armed services, veterans and (in many cases) children and grandchildren of veterans. The rates are better, the claim service outstanding and there is a nice rebate check every December. Also there is a build up of a reserve account (mine us now over $8,000 which can be funded to the spouse of the eligible policyholder upon death while still enabling the survivor to maintain the insurance.) if you even think there is a possibility of eligibility you should call them. I've had the most aggressive companies call me wanting to compare their rates with what I'm paying and not even pursue it when I say I'm with USAA.

 

By how much and how much was your older Camry worth vs. the new Prius? Al of this matters. It would have been more instructive to compare a 2013 Camry and a 2013 Prius of similar MSRP.

 

USAA has gone way up recently in rates. They are now in NC one of the more expensive carriers. Someone I know called up to cancel and they lowered their rates. How messed up is that. USAA used to be by far the cheapest for us but no longer.

 

If there was alot of of claims from Prii in your area for that insurance company, then your rate will be higher. I had USAA for 5 years and had to switch because they were charging almost double for the Prius. I found the lowest rate from Esurance which was a 5 dollar increase for my new Prius from my $7,000 Honda Civic with the same coverage. Insurance companies takes different hits from different type of cars in various areas, also you can get a different rate from a company that is trying to extend to new areas with low % market shares.

Sometimes, it is worth paying a little more for better service and coverages. Even though most companies offer the same deductible and coverages, there are still many fine prints you have to pay attention to i.e. repairs with OEM parts VS generic, and new parts VS junk yard parts. The speed of the claim process also pays a big part in my decision, some takes weeks to send out an adjustor to validate your claim.

I've learned my lesson in the insurance rate game and will shop around every year or so, they are like your cable company that increases the bill every few months until you call them and threaten to switch. Good luck with your search.

A side note, USAA takes many hits from service members. Young service members with their Mustangs and Camaros are not exactly the safest drivers. We have an average of 1.4 accidents (most are minor accidents) on post alone everyday. If you live on post or near post I would advise checking for lower rates with other companies.

 

USAA, with our last car and my current car, was under $400/yr for 50/100 coverage. Right before we bought the Prius it was over $500. Homeowners insurance when we bought our house in 2008 was $365/yr. It's now $650. No tickets/accidents/claims in that time. I checked with NC Farm Bureau and their rates were what we were paying 5 years ago with USAA.

 

My insurance went down when I went from a 2012 Scion Xb to my 2012 Prius IV.
Some companies use credit score as well to determine rates.
I have 100k /300k coverages on both my cars with a $250 deductable and I pay $800 a year for both.
2012 Prius IV and 2011 Venza..

 

I'm paying about $100 a month for a new Prius with Progressive

 

Ouch you must be younger... $35.33 per month on my new Prius.

 

25 y/o with perfect record. Liability coverage is 100/50/100. Deductibles collision $1000, comprehensive $250.