Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Clark Howard prices car insurance by state
Old 03-18-2018, 06:32 AM   #1
Thinks s/he gets paid by the post
 
Join Date: Dec 2010
Location: Midwest
Posts: 1,640
Clark Howard prices car insurance by state

Interesting article for those thinking of re-locating in RE. Cost of car insurance is something I had not considered before.

For example, by moving to FL from our up north home, the annual cost of car insurance increases about $800 per year, (per car, I assume).

https://clark.com/cars/car-auto-insu...ighest-lowest/
__________________

brucethebroker is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 03-18-2018, 06:52 AM   #2
Moderator
braumeister's Avatar
 
Join Date: Feb 2010
Location: Flyover country
Posts: 13,868
That's good information, but take it with a grain of salt.

We moved from one of the lowest cost states (Ohio) to one of the highest cost states (Kentucky). According to that site our insurance should have increased by almost 100% but it actually only went up about 50%.
__________________

braumeister is offline   Reply With Quote
Old 03-18-2018, 07:12 AM   #3
Recycles dryer sheets
 
Join Date: Oct 2016
Location: Pinetops
Posts: 452
Me thinks that the survey is a couple of years old... We have experienced two back to back increases of 20%. Friends that recently received renewals are claiming another 15 - 20% this year.

Our rates (even after making a change) are 30% higher than the amount quoted in the article - and we have a 2015 Camry and a 2008 Honda Accord.

Not sure where Clark gets his info from.
__________________
I

ER 12/15/2017
Now: Side Hustle(r) Extraordinaire
IMATERP is offline   Reply With Quote
Old 03-18-2018, 07:47 AM   #4
Thinks s/he gets paid by the post
 
Join Date: Jun 2003
Location: Historic Florida
Posts: 3,892
Quote:
Originally Posted by brucethebroker View Post
Interesting article for those thinking of re-locating in RE. Cost of car insurance is something I had not considered before.

For example, by moving to FL from our up north home, the annual cost of car insurance increases about $800 per year, (per car, I assume).

https://clark.com/cars/car-auto-insu...ighest-lowest/
I have to disagree with this one. We have been in Fla for 10 years. We have NEW cars every 3 years. Current is a 2018 BMW ~$60k MSRP. FULL Insurance is $368 every 6 months for both of us. That is about average per car for us.
__________________
"Arguing with an Engineer is like rolling in the mud with a pig. Just remember that the pig likes it."
ShokWaveRider is online now   Reply With Quote
Old 03-18-2018, 07:58 AM   #5
Thinks s/he gets paid by the post
 
Join Date: Jan 2018
Location: Tampa
Posts: 4,997
Quote:
Originally Posted by ShokWaveRider View Post
I have to disagree with this one. We have been in Fla for 10 years. We have NEW cars every 3 years. Current is a 2018 BMW ~$60k MSRP. Insurance is $368 every 6 months for both of us. That is about average per car for us.
+1
We moved from NJ to Fla last year and our car insurance went down around 40%, not the ~12% expected increase per Clark Howard. As with ACA rates, it can matter substantially which part of FLA you are in, as our rates are still higher than ShokwaveRider and our cars are 4 and 6 yrs old including a BMW sports car.
However, we do hear many people from the Midwest complaining that their rates have gone way up.
__________________
TGIM
Dtail is online now   Reply With Quote
Old 03-18-2018, 08:23 AM   #6
Thinks s/he gets paid by the post
 
Join Date: Nov 2015
Posts: 1,700
Having moved from IL to FL to retire I found my auto insurance doubled. I'm paying $600 every 6 months for 2017 Lincoln MKC ($45K MSRP), squeaky clean driving record. Also found that umbrella coverage is 3x more.

However, I now have lower property tax, less expensive ACA and no state income tax. Our home owners insurance is slightly less, and that's with hurricane coverage. So all that considered I'm still ahead of the game, plus I have much better weather.
bobandsherry is offline   Reply With Quote
Old 03-18-2018, 08:32 AM   #7
Thinks s/he gets paid by the post
 
Join Date: Jan 2018
Location: Tampa
Posts: 4,997
Quote:
Originally Posted by bobandsherry View Post
Having moved from IL to FL to retire I found my auto insurance doubled. I'm paying $600 every 6 months for 2017 Lincoln MKC ($45K MSRP), squeaky clean driving record. Also found that umbrella coverage is 3x more.

However, I now have lower property tax, less expensive ACA and no state income tax. Our home owners insurance is slightly less, and that's with hurricane coverage. So all that considered I'm still ahead of the game, plus I have much better weather.
We pay $2,400 yearly for 2 cars, so right in line with your rate. We also found Umbrella Insurance to be 2x-3x higher. This of course is wrapped up in the same reasoning as car insurance in a no fault state where enough people don't even carry car insurance.

+1 - can't beat the weather including the summer heat (works for us).
__________________
TGIM
Dtail is online now   Reply With Quote
Old 03-18-2018, 09:19 AM   #8
Thinks s/he gets paid by the post
VanWinkle's Avatar
 
Join Date: Oct 2017
Location: Brighton
Posts: 1,286
In Illinois, I am insuring both cars and my house(1197.00) for about the same price they are showing in the article for just auto insurance on one car. I understand they are only quoting the highest rated Insurance companies, and I am not insured by one of those. My auto went up about 10% this year and the homeowners went up less than 5%.
__________________
Retired May 13th(Friday) 2016 at age 61.
VanWinkle is offline   Reply With Quote
Old 03-18-2018, 09:30 AM   #9
Thinks s/he gets paid by the post
zinger1457's Avatar
 
Join Date: Jul 2007
Posts: 2,269
Where you live in a state can also make a big difference. I live in a rural part of AZ and my auto insurance rates are probably half of what they would be in Phoenix, and I don't have to get the vehicle smog inspection.
zinger1457 is offline   Reply With Quote
Old 03-18-2018, 09:50 AM   #10
Recycles dryer sheets
jimandthom's Avatar
 
Join Date: Nov 2014
Location: Beautiful UP
Posts: 235
Quote:
Originally Posted by zinger1457 View Post
Where you live in a state can also make a big difference. I live in a rural part of AZ and my auto insurance rates are probably half of what they would be in Phoenix, and I don't have to get the vehicle smog inspection.
Ditto on the location part.

We lived in SE Michigan(think Detroit, Ann Arbor so a few million people) until 2016, with owning a 2006 Ford Focus Wagon---so nothing fancy or expensive etc. Taking the insurance to the limits needed for our umbrella policy, the yearly, including collision was around $850. Thought that was pretty reasonable. Cancelled full coverage when we moved--- it went to about $450 per year.

We now live in the eastern Upper Pensisula, Chippewa County where there are 50K people in an area 2X the size of Rhode Island. Our recent vehicle purchase is a used 2015 Transit 150 van, 90% loaded. MSRP at that time was north of $42000.

Our insurance with the same full coverage when in SE MI coverage, same company will again be around $950 per year.

Location--location--- location
jimandthom is offline   Reply With Quote
Old 03-18-2018, 10:12 AM   #11
Thinks s/he gets paid by the post
ExFlyBoy5's Avatar
 
Join Date: May 2013
Location: Country Living
Posts: 3,575
All the posts show that there are WAY too many variables to consider. I think the only real way to make an apples to apples comparison is to call your current insurer and run a hypothetical location and see what they come up with.

Here is the report that is used for the Clark.com article: https://www.thezebra.com/state-of-insurance/auto/2018/
__________________
Retired in 2014 at the Ripe Age of 40
ExFlyBoy5 is offline   Reply With Quote
Old 03-18-2018, 10:16 AM   #12
Thinks s/he gets paid by the post
 
Join Date: Feb 2013
Location: Toronto
Posts: 2,304
Quote:
Originally Posted by zinger1457 View Post
Where you live in a state can also make a big difference. I live in a rural part of AZ and my auto insurance rates are probably half of what they would be in Phoenix, and I don't have to get the vehicle smog inspection.
+2

Can make a very large difference.
6miths is offline   Reply With Quote
Old 03-18-2018, 10:36 AM   #13
Moderator
samclem's Avatar
 
Join Date: May 2004
Location: SW Ohio
Posts: 14,383
Quote:
Originally Posted by IMATERP View Post

Not sure where Clark gets his info from.
You'd have to look at the link posted in the OP, I guess.

From that link:
Quote:
That’s because car insurance rates are skyrocketing, particularly recently, according to a recent report from insurance search engine The Zebra. The findings, laid out in detail in the company’s State of Auto Insurance Report, reveal that auto insurance premiums have reached an all-time high and are up a whopping 20% from 2011.
The date of the report on Clark Howard's site is 28 Feb 2018.

What is "The Zebra"? They say they are:
Quote:
The Zebra, the nation’s leading insurance search engine and an independent source for pricing, coverage, and all things insurance, explores these rating factors and trends in the 2018 State of Auto Insurance Report.
samclem is online now   Reply With Quote
Old 03-18-2018, 10:59 AM   #14
Moderator Emeritus
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 42,993
Quote:
Originally Posted by zinger1457 View Post
Where you live in a state can also make a big difference.
Exactly. Louisiana is listed as second most expensive (after Michigan). However, insurance costs in New Orleans are much, much more expensive than in the rest of the state; local news media claim that our car insurance here in New Orleans is the most expensive in the country. I have no idea. I just pay.
__________________

__________________
I have drunken deep of joy,
And I will taste no other wine tonight.

― Percy Bysshe Shelley
W2R is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Dave Clark 5 David1961 Other topics 25 04-24-2014 02:01 PM
Clark Howard's allocation Travelwanted FIRE and Money 2 04-01-2014 01:13 PM
Dick Clark passed away MichaelB Other topics 23 04-19-2012 02:42 PM
Clark Howard/Early Retirement ferco FIRE and Money 13 06-25-2007 10:18 PM
What would Clark Howard say about this Hawaii deal? Leonidas FIRE and Money 8 05-30-2006 02:28 PM

» Quick Links

 
All times are GMT -6. The time now is 03:02 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2020, vBulletin Solutions, Inc.