I've been looking around at different insurance companies for my new MC, and have found that rates between companies, for the same coverage vary wildly. I'm female, 30's, good credit, no accidents. My only 'bad' thing is that I haven't had insurance for years since the last time I owned a car was 1992. I live in NYC, but will be parking the car in a gated outdoor lot.

I have gotten quotes from Progressive and ESurance for between $1,400 - $1,800 for 6 months while Geico and State Farm quoted me $600 - $700 for 6 months.

Does anyone have experience with any of these companies or know why they are so different? I know people who have Geico, and have read they are good until you actually have an accident. Any ideas, comments, etc would be appreciated

 

ameriprise.com is what I have.
get an online quote. I save $800/yr coming from State Farm.

 

I've always used State Farm and been very happy with them. Was in an accident several years ago and had a check for more than the value of the car within a week. They've always been very helpful as well.

For reference sake, my 24 year old fiance was quoted 1300 in Boston for a year on an 06 MCS.

 

Giddyup!!!!!!!!! They are the bomb! 40 yrs old, married, no tickets. 379.00 for 6mo. Nobody can touch this price. HOI is also low.

 

Geico cost me the same amount as State Farm, and I am MUCH better covered, financially, than I was with them. If I got the same coverage I had with State Farm, I'm sure the cost would have been $500 less, but with a brand new car and a house to list amongst my assets now, I wanted to bump things up a great deal.

I had no idea Geico is the "Goverment Employee Insurance Company." The gecko surprises me yet again.

 

I have State Farm and seems competitive. However, I have to add 2 teenagers and been told by a couple of people than AAA is cheaper. Going to call them. Good Luck.

 

Yeah esurance has to pay for all of those cartoon commercials. I use Nationwide, as they were much less than Progressive a few years ago and have kept going down since.

 

Wawanesa Insurance in San Diego, CA here...

30, married, multiple cars, good zip code(i don't know if that helps or not)
100/300k on '07 MCS - $525/year

 

I'll let you know about Geico in a day or two. A hit and run driver smashed into the back of my beloved and beautiful BMW 325iS, driving it into an SUV that was in front of me.

The initial communication and vehical inspection went well. But the real issue is what they will offer me by way of compensation. I'll follow up as soon as I know more.

Note that my sense of grief and loss was greatly ameliorated by the arrival of my new MCS. It's is swiftly making me forget the BMW, which I seem to increasingly recall as a stiff legged, gutless old car.

Joe s

 

I've been with State Farm since I started driving at age 16 I'm 33 now, never had any problem with them, I pay about 170.00 a month for 2 vehicles with full coverage, they quoted me about a 7 dollar a month increase if I sell my 2002 tacoma and get an MC, not bad.

 

Glad to read some folks are happy with their car insurance company. Seems sometimes that we're held up there with lawyers and used car salesmen.

Back to the question at hand:

No two companies rate customers exactly the same way. For instance, we (it's no secret, I work for State Farm) used accept new policyholders in our Mutual company and offer them our lower rates simply because they were ticket/accident free the previous 36 months. Then, our actuary folks through the use of tons of statistical data, proved that those folks were sometimes a higher risk than your customers in our Standard company.

So... they developed a very complicated mathematical model that assigns a score to each customer that is a great predictor of future loss.

While it's easy to see why you wouldn't get the same rate from two different companies, it is unusual there would be this much disparity. It could be the difference in the computer models used, or maybe it's because some of those companies don't yet use a mathematical formula and score.

Also, for those of you focusing so much on the rates: I do realize that's the most important factor for most consumers. However, don't confuse car insurance with a box of cereal or a new shirt. With car insurance, you don't always know what you're buying until you have an accident. Consider the overall service of the company as part of your decision. That includes the agency service and the claim service.

 

In 1996, GEICO became a wholly-owned subsidiary of Berkshire Hathaway, headed by Warren Buffett, one of the country’s most successful investors.

 

I have had GEICO for years through a fender bender on my last car and an accident where someone hit my hubby. They were great handling the claims, very quick and friendly too. We had absolutely no problems at all and they are the least expensive!

 

I also noted a pretty wide variance in rates when I was pricing. GEICO ended up being the best rate for the best coverage in my case as well.

 

Thanks everyone for comments and information. All very helpful. I tried to get a quote online from Ameriprise but they wouldn't provide one online since I had no previous insurance (no car = no insurance!).

I think I may end up going with Geico.

Thanks again.

 

I use Unitrin Direct, full coverage 0n a 2005 GTO is $540 for six months, course accident free over 25. I was quoted on a MINI S $620 so not to bad for San Diego. I've used them for a long time and great service (never had a claim though) I'm also in the military so for a while I didn't have a car and the rates where only about $40 more for the first 6 months. I used them back in FL and much cheaper then San Diego. Good luck.

ShawnG1313,

 

You're in the military and don't use USAA for your insurance ? Check them out.

And that's coming from someone employed by their competitor.

 

+1 we have USAA and love them

 

Did you try Ameriprise?

 

You have to be an officer in the military or in their family to use USAA. Had State Farm for over 36 years. Switched to USAA because SF would not insure property on the bay. Also USAA only charges liability on one car while SF charges on all cars, so USAA was cheaper for me.