Insurance cost - not pleased

[Valdemar]

I know I should have done my homework before buying one but it turns out that my semi-annual Leaf insurance premium (AMEX/Costco, 100/300, $500 collision ded., $250 comprehensive ded., good driver/no acc., etc.) will be $738.00 :shock:. That's more than double from what I pay on my current car - $280 (well, it was like 6k less expensive than the Leaf originally MSRP-wise), and $200 more than what I pay on another car we have in the family which is a similarly priced SUV. What I don't understand is that even liability portion is more than double than my current car which is a Subaru Legacy GT Limited with a 250hp turbo power on tap screaming to be driven fast. Now the insurance will eat most of my expected gas savings. Anyone can suggest insurance with friendlier Leaf premiums?

 

[abasile]

Check these threads:
http://www.mynissanleaf.com/viewtopic.php?f=27&t=2020" onclick="window.open(this.href);return false;
http://www.mynissanleaf.com/viewtopic.php?f=23&t=1943" onclick="window.open(this.href);return false;

 

[Valdemar]

Thanks, I did search for "insurance", somehow these didn't pop-up, or I missed them.

 

[mxp]

Check these threads:
http://www.mynissanleaf.com/viewtopic.php?f=27&t=2020" onclick="window.open(this.href);return false;
http://www.mynissanleaf.com/viewtopic.php?f=23&t=1943" onclick="window.open(this.href);return false;

Now that more Nissan Leafs have been sold and are deployed, will that volume drive down the pricing for the insurance? I felt that the observed average of $350/6 months is still way too high for an electric vehicle.

Comments anyone?

 

[Valdemar]

Just called AAA, they are basically in the same ridiculous ballpark - about 1600/year to add the Leaf to another policy I have. Geico gave a quote for $628/6 months. Progressive didn't like the VIN. I'll keep shopping around. $500/6 months would not be that unreasonable for SoCal I think, but I yet have to find that rate. The rates should drop over time I thinks - insurance risk assessment calculations probably goes crazy because there is no historical data for the Leaf and there is a lot of uncertainty.

 

[BLUEH20]

Insurance Company: USAA

LEAF is one of two vehilces bundled with homeowners insurance coverage. Domicle is Central Washington State, population base of 50,000.

Vehicle Replaced by LEAF: 2008 Chrysler PT Cruiser 6 month = $300.00 full meal deal. Exactly same coverage on my LEAF, 6 month = $300.00

I am quite pleased with USAA's coverage and cost and overjoyed at their customer service.

 

[Valdemar]

"USAA auto insurance isn't available to you — but we still can help."

 

[BLUEH20]

Regrets--but wanted to show that a least one company seemed to have the cost of insuring the LEAF in the reasonable range. Good, reasonable incsurance coverage is getting a be a rather rare commidity.

GIECO is the non-military version of USAA; any luck with them?

 

[laalan]

Geico.. Living in Orange County. $300/500/100 $500 ded coll, $100 ded comprehensive, no medical is $732 annually for first Leaf and $712 annually for second Leaf. Good driving record.

 

[Valdemar]

Geico.. Living in Orange County. $300/500/100 $500 ded coll, $100 ded comprehensive, no medical is $732 annually for first Leaf and $712 annually for second Leaf. Good driving record.

How did you get this price? I went through their on-line quote and it is 628/6-mo for similar coverage/good driver.

 

[haykinson]

Yeah, we pay Farmers far too much for this car in Santa Monica ($690 for 6 months)... I wonder if the insurance agents know what's contributing most to the cost of the policy.

 

[Valdemar]

It is the lack of data hence high uncertainty and risk translates to $$$, which is not unlike paying higher interest on a loan if you have a bad FICO score.

 

[redLEAF]

If you haven't already I would check the online guys (Progressive, etc.) to see if it gets any better ... I was pleased with my Allstate quote that my '06 Mazda3 GT $460 bi-annual rate would go down $1 to $459 with a '12 LEAF that included new car replacement during the first 2 years (we still have a < 25 year old driver on our policy so not bad at all). We also have 3 cars and homeowners with them so perhaps that has something to do with it (that's not including the 'bonus' cash rebates we get back every year that Allstate started that program -- if applied to just the LEAF it would be about $360 bi-annually). One thing we did a few years back as we have 4 cars, is move my '99 Miata to it's own policy as it's a low mileage summer vehicle that we store during the winter's -- that car alone (with my son on the same policy) was $789 bi-annually and we were able to get a 'special interest' status and insure it for $190 for an entire year; obviously he is not on that policy (no one under 25 can drive that car). As always, checking all the angles for an intangible like insurance should be worth it -- if you afford a higher deductible, etc. it may be worth it to you. I would also check your affiliation insurance (i.e., through local credit union, alumni association, etc.) as your rate does sound higher than 'normal'. Just noticed you're So Cal so other than the last part it wouldn't pertain to you -- we're in the midwest.

 

[Spindoctor]

Without VIN # in hand on $300/500/100 $500 ded coll, $100 ded comprehensive, $10k medical I'm getting

$83 mo./$506 6 mo. State Farm

and

$88 mo./$529 6 mo. USAA

No. Cal, outside of SF in No. Marin Co.

 

[waitingforaleaf]

I got a reasonable quote with State Farm as well. Rather surprising as AAA used to quote less for my previous car, but is now quoting a higher price for the Leaf. They all must have different algorithms for calculating the risk associated with the vehicle (besides the usual zip code, driver experience and history).

 

[Valdemar]

State Farm. "Affordable and Streamlined". Ouch.

 

[waitingforaleaf]

Hrmm...out of curiosity, I ran the online quote as well and it gave me a monthly cost of $121 a month for "Affordable and Streamlined," which is significantly higher than what I am paying for (my coverage is also actually closer to their Premium coverage).

You might actually want to give some of these companies an actual call and see if they can actually calculate a better rate for you.

If you don't mind me asking, how old are you? I know that State Farm in particular, and a lot of insurance companies aren't particularly generous to young, single male drivers.

 

[jmillington]

I have Farmers Insurance on my Leaf for $670 a year!
I have 4 vehicles and homeowners insurance with Farmers.

 

[Valdemar]

I know that State Farm in particular, and a lot of insurance companies aren't particularly generous to young, single male drivers.

Young, single male driver - your typical Leaf owner I'm 40. I'll try to give them a call, may be they will be able to offer a better combo deal, we'll see.

 

[waitingforaleaf]

Heh...I know right, but there are a few out there... I think the other thread has one owner mentioning his ultra high insurance rate as one. Time permitting, I'd give several insurance companies a call just to verify that you're getting the lowest available rate. A bit of a hassle but a couple hundred a year is well worth the extra work IMO.

Anyways, enjoy the LEAF. I'm having a blast with mine.