Anyone w/Lower insurance since Nissan dropped the MSRP?

[jlsoaz]

Does anyone have information as to any insurance companies which have lowered their insurance rates in light of the drop in the MSRP that Nissan put into place last winter? If you were an existing driver, has anyone managed to get a lowering of rate? If you became a new driver after that point, have you found your rates might be a bit lower than those you've heard about from existing drivers?

I don't know that much about insurance, but it seems to me that in a vehicle replacement scenario, if a new vehicle might cost ~$30k instead of ~$36k, and if a used vehicle price drop may also have taken place somewhat in-line with the new vehicle price drop, then maybe an insurance company would need to shell out less in a replacement scenario and then maybe be able to charge less per month?

jl

 

[mwalsh]

I think it's down to repair costs, not replacement cost. I did get a couple of hundred off my previous bills by upping my deductible to $1k this year.

 

[RegGuheert]

We should get our new bill any day now. But we've had one of the cheapest LEAF insurance bills so far: $237/year originally and $249/year last year. Hopefully they won't make it awful this year.

 

[DoctorSaul]

We should get our new bill any day now. But we've had one of the cheapest LEAF insurance bills so far: $237/year originally and $249/year last year. Hopefully they won't make it awful this year.

Do you mean $237/year for a 6 MONTH policy?

 

[RegGuheert]

We should get our new bill any day now. But we've had one of the cheapest LEAF insurance bills so far: $237/year originally and $249/year last year. Hopefully they won't make it awful this year.

Do you mean $237/year for a 6 MONTH policy?

Year. Erie Insurance (some Eastern states only).

 

[jlsoaz]

I think it's down to repair costs, not replacement cost. I did get a couple of hundred off my previous bills by upping my deductible to $1k this year.

Thanks, I would think that both repair costs and replacement costs would enter into some of the insurance bills. As a lessee, and as someone who generally does not drive new cars, they required me to carry more insurance than I normally would carry, so I am trying to figure out a way to get this down, such as by shopping for a place which has taken the revised MSRP into account.

Well, whether it's the MSRP or something else, there do seem to be a few places mentioned by other drivers that, for them, are giving them a markedly better price than I am getting.

 

[Klayfish]

You're wasting your time trying to shop based on what other people are getting for rates. Rates are set based on so many variables that what one person is paying has no relevance to you. It's where you live, age, driving record, vehicle, gender, etc... Shop around yourself and see who gives you the best price.

And a relatively small drop in MSRP is probably going to have minimal effects on the rate. That's just one tiny piece in the puzzle. Not to mention it's not MSRP that matters much anyway. It's repair cost, and what the used value is. When a car is totalled, unless you have a special endorsement on your policy, you don't get the brand new MSRP. You get the cash value of your car at the moment of the accident. So new prices are irrelevant.

 

[jlsoaz]

You're wasting your time trying to shop based on what other people are getting for rates. Rates are set based on so many variables that what one person is paying has no relevance to you. It's where you live, age, driving record, vehicle, gender, etc... Shop around yourself and see who gives you the best price.

Thanks, I'm aware of these points having read through some of the comments and participated in some of the discussions, but I think it's reasonable to ask if there are insurers which are generally known (even if with exceptions) for providing decent deals, and decent followup, on Leafs.... not withstanding that each individual deal will vary over many different individualized factors.

And a relatively small drop in MSRP is probably going to have minimal effects on the rate.

Well, in my view, the price drop on the Leaf was not relatively small. A quick look back:

http://www.kbb.com/car-news/all-the...-cut-adds-more-affordable-s-model/2000008982/

2013 Nissan LEAF gets big price cut, adds more affordable S model
By KBB.com Editors on January 15, 2013 9:43 AM

I don't have the exact numbers in front of me, but let's say something like a 17% MSRP reduction.

That's just one tiny piece in the puzzle. Not to mention it's not MSRP that matters much anyway. It's repair cost, and what the used value is. When a car is totalled, unless you have a special endorsement on your policy, you don't get the brand new MSRP. You get the cash value of your car at the moment of the accident. So new prices are irrelevant.

While the point about not getting MSRP in a vehicle total loss situation is taken, I think the lasting point for me is that with such a significant drop in MSRP comes also, potentially, some degree of drop in used pricing. This was/is somewhat hard to gauge because the Leaf had not been out for that long, because Nissan has tried hard to show that they will support the 2011-2012 through certain issues, because many of the vehicles were leased and not sold, etc. It did seem to me that there was a drop in asking prices I saw on some of the prominent used vehicle websites, but I didn't record any numbers exactly to be certain.