junehhan

Hey guys, out of curiosity, if any of you guys have recently renewed your insurance polices, have you guys noticed any outrageous hikes? I just renewed my policy last week and it's frickin outrageous! My insurance went up from $4300 a year to almost $5600 a year, and one of my speeding tickets even dropped off! I can't believe insurance can go up almost $1300 for one year, when since my speeding ticket dropped off, it should have went down a lot.


I called Progressive up and demanded an explanation, and all they could tell me, was that the rate hikes are due to two reasons
1. 911
2. Theft rates have very sharply increased on the Honda S2000 in the last year warranting a rate hike.


I just can't fricking believe it! What in the hell does 911 have to do with car insurance? I also can't stand those damn thieves either.................fricking MF's have to lead a frickin deprived lifestyle by leeching off of honest hard working people making insurance even less affordable. I've got two decisions now, which is going to be hard since i'm on a limited income since I work full time at the University, but also am a full time student.

1. Try to deal with this the best I can, and try to reduce expenditures elsewhere
2. Sell my S2000 and buy something cheaper to insure like an SVT Focus, or perhaps a Mercury Maurauder

StrangeDaze

Wow! How many vehicles are you insuring on that policy??? That can't be for just your S2000 alone, can it? Or is your neighborhood considered a bad area for auto theft?

I pay my insurance monthly with State Farm and my S2000 is costing my roughly $151/month. That's with a $500 deductible and 100k/300k/100k coverage. Also, I'm 24 and at the time I bought the S2000 had a clean driving record - I now have one speeding ticket from two to three months ago, but no changes to insurance from that (yet).

I just bought a 1998 Accord LX sedan and have that listed as my daily driver. The Accord would cost me like $115 by itself. I'll get my bill in the next week or so and I'll know what I'm paying for both at that point. If it seems outrageous, I might see about listing the S2000 as "in storage" until March or April 1st. We'll see.

David1

My 02 S is less than my 01 Grand Cherokee. (though the S is a lower miles per year plan) I pay less than your 4300 for 3 cars, house, and paf policies.

junehhan

Just my S2000 is all it is

excia

I guess being an old guy helps in this case ... I pay about $800 a year for insurance on my S2000. We have two other cars on the policy -- a 2002 RAV4 and a 1999 Grand Caravan.

staffordaz

Well, insurance premiums/rates are regulated by each state government. Our lovely state legislature has recently cow-towed to the insurance industry in a number of forms (auto, medical, legal, etc.).

Basically, the OH state legislature increased the scales of the auto and medical premium rates to help the industry offset its losses in the stock market.

However, $4,300 and $5,600 IS a lot. But after looking at your profile, I see you are 22. I guest that will have something to do with it. When you hit 25-26 or get married, that will drop. Just keep those speeding tickets off your record, and it'll lower.

David1

Just got my renewal. Only went up $50.00 for 6 months. I was starting to get worried there for a while.

junehhan

That's exactly why I can't understand why mine took such a huge hike...................

If anything, one of my speeding tickets had dropped off from the last policy, yet it still went up like crazy. I even got my free S2KI.com Honda S2000 license plate bracket in the mail today. I wonder how funny it would look if I went around with S2ki s2000 license plate brackets on my Freelander


In all honesty, I think i'll give them to the Chinese carryout delivery guy who I order from all the time. After he saw my S2000, he sold his 01 Mustang GT and bought a brand new red S2000. He's really cool and i've tried to get him on this site, but he doesn't have internet access yet.