Insurance?

[TinMachine]

Traded-in a 04 Nissan XTerra for leased 2012 Leaf. Insurance went up about 20% overall. I called State Farm to inquire and was told that the increase was all comp/collision as I am insuring a new car, not a 7 year old 4x4, in summary its all underwriters and replacement cost.

Did save about $5/month due to the dealer instaled lo-jack however...

 

[Deleted member 6912]

I bought one!

Called agent, I am covered but it will take Thelma while to price it because of other changes I'm making so I have no idea of what the new cost is. I didn't trade anything, this will be my 3rd car so it will be interesting to see how bad it is.

Thanks for all of your insights, I'm not sure I would have bought it'd it wasn't for your experiences.

 

[Parts007]

Insurance cost with a new leaf might be a dealer breaker for me.. trading an expensive-to -insure hot rod and my insurance is going UP

 

[Valdemar]

My Leaf is about 30% more expensive than the other car on my policy which costs 2x much, mostly due to the comprehensive and collision portions. Even the rental car coverage is more expensive for the Leaf, wtf?

 

[GerryAZ]

Insurance varies a lot. In 2011, I added the Leaf to my collection of vehicles with almost no change in total premium. There was probably more loss data available by 2015, but the new vehicle only raised the premium a few dollars over the 2011. The Leaf being listed as my primary commuter vehicle reduces the premiums on my SUV and pickup.

Gerry

 

[jjeff]

My Leaf is about 30% more expensive than the other car on my policy which costs 2x much, mostly due to the comprehensive and collision portions. Even the rental car coverage is more expensive for the Leaf, wtf?

Yes both my Leafs are IMO quite expensive to insure, especially for what their now worth. My guess is the cost may be based more off what the vehicle cost new, not figuring in enough depreciation. To me this is quite unfair, especially when my most recent purchase(a '12 Leaf) cost me $7500k(good deal but not unheard of) and yet the collision/comp cost is more than twice an ICE vehicle valued the same :x
Same thing for tabs in my state, my '13 which just came up is showing tabs will cost me over $250, for a vehicle worth maybe $12k?? and yet a similar ICE valued the same or more is 50% less :x again I think they are going off normal depreciation for a vehicle the age of my Leaf and as we all know the Leaf has depreciated much faster than norm
I'm almost tempted to drop the collision and comp on my '12 and just run with liability, basically self insure and hope no one hits me that doesn't have insurance.....I generally do this once the vehicle is only worth a couple thousand dollars, $7500 would be a pretty big loss if I bet wrong :?

 

[aarond12]

USAA seems to be pretty close between our ICE vehicle and our LEAF.

The ICE was $25K; the LEAF was $30K (both prices are sticker prices). The ICE costs $360/6 months; the LEAF costs $403/6 months.

 

[TomT]

Interestingly, when I moved to the Gen 2 Volt, my insurance DROPPED by about 10% even though the Volt is more expensive at MSRP then the Leaf...

 

[greenpoint]

My LEAF insurance is also more than 2014 prius it replaces, the way I understand it it is not how much the car costs but how much to repair. The insurance companies disregard the fact that the will total a 2012 leaf at 8k of damage.

 

[Flyct]

Attahed is my breakdown. I have 3 cars and the LEaf is the least expensive to insure

This is with State Farm in Florida. All cars are listed as personal usage, less than 7,500 miles/year.
Uninsured Motorist is Stacking, meaning that it covers all cars even if its only on one. State Farm is one of the few companies that offer this feature.

Each policy has the following discounts;
- Accident Free for 10 years
- Anti-Lock Brakes
- Anti-Theft
- Home Ownership
- Multiple Automobile
- Multiple Line
- Vehicle Safety
- Annual Mileage (7,500 or less)

 

[Darryl]

Wow. The price of insurance is very cheap in Bradenton. Out of our vehicles, the Leaf is the cheapest as well. Unfortunately we live in a much higher to insurance area. We pay:

2013 TOYOTA PRIUS C $915.00
2012 NISSAN LEAF $718.00
(Yes, that is per six months....)

 

[RonDawg]

When I got my eGolf, I kept my Leaf to near the end of the lease term rather than turning it in early. At the time, it only added $100 to my 6 month premium to have a 3rd car. So when I returned the Leaf, I expected my premium to drop by that same $100.

When I got the revised bill, it dropped by a LOT more than $100. I'm paying much less now than I was a year ago. I'm paying less than the poster above me for my two cars vs. his Leaf alone. And I'm in LA County, which tends to have rather high insurance rates (lots of uninsured and unlicensed/suspended drivers here).

(shhh...don't tell Ameriprise)