CA insurance renewal skyrocketed

[NY_Rob]

... $4100/yr for home.
We are know for weed here in CO, pretty sure insurance companies are on something else.

$4,100 for homeowners ins? Wow!!

FWIW- homeowners for our 5 bedroom house on Long Island is $1,100/year, Allstate as well.

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[R1TS]

I'm not a defender of insurance companies, but part of the problem obviously lies with the automakers. These EVs, including Rivians, are a major expense for repairs. The operating margin for auto insurance companies hover just around only 2%.
These cars are built with low production cost in mind, but high repair cost as a result. The casting method that Rivian will utilize in the R2 is not going to help with bringing down insurance costs, that's for sure. It will help Rivian and its shareholders, though.

 

[NY_Rob]

The casting method that Rivian will utilize in the R2 is not going to help with bringing down insurance costs, that's for sure. It will help Rivian and its shareholders, though.

IMO it won't make a significant difference as far as insurance costs are concerned.

As it is right now, they total the vehicle if a leaf falls on it, so anything bad enough to crack the castings would have badly damaged a conventionally constructed vehicle as well causing it to be totaled also.

 

[Donald Stanfield]

My new R1S made my rate go up 100 bucks a year. I'm still under 1500 a year though. My wife's BMW M car is closer to 2500 a year even though it's a cheaper car. More people must crash those.

 

[NY_Rob]

My new R1S made my rate go up 100 bucks a year. I'm still under 1500 a year though. My wife's BMW M car is closer to 2500 a year even though it's a cheaper car. More people must crash those.

SUV vs performance car?

 

[Donald Stanfield]

SUV vs performance car?

That's all I can think of, even though my R1S cost almost 40K more and is faster.

 

[NY_Rob]

That's all I can think of, even though my R1S cost almost 40K more and is faster.

Or maybe it'd just because it's a BMW and they figure you can afford to pay more?

Our 7 year old BMW i3 now costs the same to insure as my 2023 R1T did ($1,250/six months).

BMW= Bring My Wallet

 

[Donald Stanfield]

Or maybe it'd just because it's a BMW and they figure you can afford to pay more?

Our 7 year old BMW i3 now costs the same to insure as my 2023 R1T did ($1,250/six months).

BMW= Bring My Wallet

could be

 

[SANZC02]

could be

Hard to find an actual justification that makes sense to me. The 2016 Tesla Model S my wife drives is $230 more expensive over 6 months than the 2022 R1S is.

We both have clean driving records, I like the price of the Rivian though so am not going to make waves questioning the prices.

Funny thing is the R1S replaced a 2014 Jeep GC and the initial R1S policy was $100 less than that vehicle. ??

 

[Old Kid]

Don't forget fire risk. So, where you park will probably makes a difference. My insurance went up $100 a month (coming from a Volvo xc60R), but when I added our 16-year-old to a car on the policy they (Costco) kindly added another $25 to the monthly premium.

 

[NY_Rob]

My new R1S made my rate go up 100 bucks a year. I'm still under 1500 a year though. My wife's BMW M car is closer to 2500 a year even though it's a cheaper car.

Our 7 year old BMW i3 now costs the same to insure as my 2023 R1T did ($1,250/six months).

The 2016 Tesla Model S my wife drives is $230 more expensive over 6 months than the 2022 R1S is.

You know what this means right? It means that "we've been pricing the Rivian policies too low, get someone on that!", basically the wet-dream stuff of every Insurance Exec ever

 

[SANZC02]

You know what this means right? It means that "we've been pricing the Rivian policies too low, get someone on that!", basically the wet-dream stuff of every Insurance Exec ever

I was knocking on wood as I typed my message…. ?

 

[Donald Stanfield]

You know what this means right? It means that "we've been pricing the Rivian policies too low, get someone on that!", basically the wet-dream stuff of every Insurance Exec ever

Or it's because of the enhanced safety of EVs. I know Rivian is an IIHS top pick +, and Tesla is way up there, too. So, their clients are less likely to get hurt, and medical bills are probably a greater expense for the insurance companies.

 

[Rivdog]

Pretty similar here, but my auto is almost 5k per year alone for a 2020 Subaru and a 2023 R1T. Sucks. It was $14,000 to repair a scratch on my door and a small dent on my quarter panel, along with a 45 day wait after the parts allegedly arrived (they didn’t and the repair facility didn’t order them, but didn’t realize it until I dropped off my truck and they started taking it apart), so the insane repair costs surely have something to do with it.

 

[Count Orlok]

how else do you expect libery mutual to continue to produce annoying commercials?

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