Author Topic: How Much Do You Pay for Auto Liability Insurance?  (Read 13144 times)

William

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How Much Do You Pay for Auto Liability Insurance?
« on: November 16, 2013, 09:16:41 AM »
Hello!

Well I only use a car about once every 5 weeks.  Unfortunately that still means I need a car and insurance.  I read the national average for liability insurance is between $40-$60 per month.  What do you pay?

Let's list the details of our situation, which insurance company we're with, and the price we pay.

I don't know what mine will cost but...

1) 1999 Mitsubishi Eclipse GS
2) Age 23
3) Never had accident or ticket
4) Live in rural Nebraska
5) Insurance company: undecided

gooki

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #1 on: November 16, 2013, 10:19:16 AM »
$150 per year.

William

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #2 on: November 16, 2013, 10:42:12 AM »
$150 per year.

Must be a Kiwi perk!

kkbmustang

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #3 on: November 16, 2013, 11:28:32 AM »
We have a 2007 Prius and a 2002 Lexus RX300, drivers age 40 and 42. Our annual premium is approximately $2,000. (I didn't look up the exact amount.) That is with a low mileage discount (less than 8k miles per year for each vehicle). I had a speeding ticket at some point in there a few years ago, so it should be off my record soon I think.

Rural

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #4 on: November 16, 2013, 02:56:15 PM »
We don't pay monthly; we pay each six-month cycle in full for discounts. But, on our older vehicles, rates range from $20 per month to $25 a month. The newest vehicle, a 2003, is a small car, so it falls in this range also, however if one of the trucks have been newer, it would be more expensive. This is liability, uninsured driver coverage, and medical (caused by accident only) in the Southeast.

Editing to add that we get discounts for multiple vehicles, for being accident free, and for being old farts.

William

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #5 on: November 16, 2013, 03:27:58 PM »
We don't pay monthly; we pay each six-month cycle in full for discounts. But, on our older vehicles, rates range from $20 per month to $25 a month. The newest vehicle, a 2003, is a small car, so it falls in this range also, however if one of the trucks have been newer, it would be more expensive. This is liability, uninsured driver coverage, and medical (caused by accident only) in the Southeast.

Editing to add that we get discounts for multiple vehicles, for being accident free, and for being old farts.

I just spoke with Geico and they quoted me $20.36 per month for state (Nebraska) minimum liability insurance.  That's including the $4 savings for paying electronically but not including the discount I could get if I pay all at once.  That discount is a little over $1.

The state minimum for accident coverage is $25k and for about .40 more per month I could up it to $100k. 

It almost seems too good to be true.  A 23 year-old driver on his own policy for only $20 per month!

My research so far (hopefully this helps someone else like me):

1) Geico: $19.36 (paid in full 6-month policy and they don't offer 12-month policies)
2) Allstate: $26 per month
3) 21st Century: $45 per month
4) American Family, Progressive, Nationwide all were in the $50-60 range
5) Liberty insurance $74 per month
6) MetLife: Would not cover me since I had a lapse in coverage
7) Travelers/AAA: $33/month

I still need to check AAA.
« Last Edit: November 25, 2013, 06:42:57 PM by William »

more4less

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #6 on: November 16, 2013, 03:49:32 PM »
Once I walked into my local AAA office to renew my insurance. I came to the counter with cash register, gave my insurance renewal papers along with quote for $408 (per year).
Me: Good afternoon, ma'am. I'd like to renew my insurance policy.
Cashier: Hm, $40 please.
Me: Excuse me, $40 for what?
Cashier: You monthly insurance bill. Are you paying monthly?
(WTF? 20% more if you pay monthly?!?!)
Me: No, ma'am. I would like to pay for the whole year according to this quote. Here's the card.

William

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #7 on: November 16, 2013, 04:00:08 PM »
Once I walked into my local AAA office to renew my insurance. I came to the counter with cash register, gave my insurance renewal papers along with quote for $408 (per year).
Me: Good afternoon, ma'am. I'd like to renew my insurance policy.
Cashier: Hm, $40 please.
Me: Excuse me, $40 for what?
Cashier: You monthly insurance bill. Are you paying monthly?
(WTF? 20% more if you pay monthly?!?!)
Me: No, ma'am. I would like to pay for the whole year according to this quote. Here's the card.

It's always easier to save money once you have money!


That's why, kids, it's important to start saving money early! *The More You Know*

Frankies Girl

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #8 on: November 16, 2013, 04:16:00 PM »
Husband is $24/month and I'm $25/month. I have GEICO, and have it set to the state minimums for Texas... Bodily injury is 30K/60K and property is 25K, so I'm including both of those in the estimates for the total liability coverage. (and I've done checks over the years and so far no one has beat GEICO for our coverage)

And I love that I can call them at 3am on a Sunday morning just to run "what if" scenarios. Their customer service is awesome.

William

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #9 on: November 16, 2013, 04:18:37 PM »
Husband is $24/month and I'm $25/month. I have GEICO, and have it set to the state minimums for Texas... Bodily injury is 30K/60K and property is 25K, so I'm including both of those in the estimates for the total liability coverage. (and I've done checks over the years and so far no one has beat GEICO for our coverage)

And I love that I can call them at 3am on a Sunday morning just to run "what if" scenarios. Their customer service is awesome.

My experience has been super great as well! 

aspiring mustachian

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #10 on: November 17, 2013, 10:18:58 AM »
I just got quoted $90/month through esurance and $100/month through SafeAuto for minimum liability. I have no accidents and one speeding ticket (11 over) from three years ago. I think the fact that I haven't owned a car in over a year (no car, therefore no insurance), I don't own a home (it's in my partner's name), and have had credit issues stemming from student loans explains  why it's so high. So for now the insurance is in his name, since he pays roughly $20/month. It's not ideal, but it will have to do for now.

I'm rehabbing the defaulted loans, so I hope I should be able to get my own insurance in 2-3 months once the rehabilitation period is over and that is reflected on my credit report.

SnackDog

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #11 on: November 17, 2013, 11:26:00 AM »
$5 per year. No typo. I am not in the USA that much and just wanted coverage for whenever I visit, particularly so I wouldn't ever get stuck with the crazy rates rental car places charge. I got it through my homeowner insurer.

Cecil

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #12 on: November 17, 2013, 11:30:54 AM »
We pay $1087/year for liability only. The benefit of living in Canada.

Paul der Krake

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #13 on: November 17, 2013, 12:09:26 PM »
Roughly $450 per year for Durham, NC with Allstate.

Mid twenties, single, 20 year old car that probably shouldn't be on the road, recently upped from state minimums to 50K/100K (gotta protect that stache!), low mileage bonus. No accidents or tickets.

kms

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #14 on: November 17, 2013, 01:25:40 PM »
Car ('93 Mazda 323) is roughly US $500 (380) per year.
Motorcycle is roughly US $65 (50) per year.

Not that this might be helpful for anyone living in the US in any way whatsoever ;)

beltim

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #15 on: November 17, 2013, 02:43:15 PM »
I'm surprised how many of you are carrying state minimum levels of insurance.  Don't people want to protect their 'staches?

William

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #16 on: November 17, 2013, 05:06:50 PM »
$5 per year. No typo. I am not in the USA that much and just wanted coverage for whenever I visit, particularly so I wouldn't ever get stuck with the crazy rates rental car places charge. I got it through my homeowner insurer.

Any chance you can provide more information to help some of us less fortunate out??

MissStache

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #17 on: November 18, 2013, 06:34:24 AM »
I'm surprised how many of you are carrying state minimum levels of insurance.  Don't people want to protect their 'staches?

Yup.  I thought the same thing!

Mine is $40/month for full coverage with GEICO and I have extremely high liability limits.  2006 Kia Spectra. 

nawhite

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #18 on: November 18, 2013, 09:03:44 AM »
Geico is VERY friendly to people who don't drive much. When you get a quote, be sure to say that the car is used for "pleasure" and not "personal." Personal means that you commute with it. Pleasure means you drive it every once in a while. We moved to a place where we can take public transit or walk to work and our insurance plummeted to 50% of its old price.

I have 300k/300k liability only (no medical or collision coverage) on 2 cars (2006 pontiac vibe and 2002 honda civic) and 2 drivers (25 and 26) for $205 every 6 months which works out to about $35/month.

I'm surprised how many of you are carrying state minimum levels of insurance.  Don't people want to protect their 'staches?

I fully agree. If you kill a single person in a collision, you are looking at 500k minimum settlement. And you have about a 1% chance of being involved in an auto incident in which someone dies at some point in your 70 years of driving [1]. We picked up $1M in umbrella insurance for an additional $150/year. Please don't drive with minimum coverage!

[1] (43443 auto deaths in the US last year / 190,625,023 licensed drivers in the US last year) * 70 years = 0.0159 ~ 1.5%. I know I didn't do the statistics right so lets round down to 1%.

Frankies Girl

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #19 on: November 18, 2013, 02:16:03 PM »
I'm surprised how many of you are carrying state minimum levels of insurance.  Don't people want to protect their 'staches?

Something I'll be looking into soon since the stache has grown considerably, but the husband and I both drive smaller vehicles (less chance of heavy damage as we live in the land of SUVs and full sized trucks - we'd probably just cause a few dents and splat like a bug on a windshield) and use the smallest car for our shopping/outing trips. Otherwise, we pretty much only commute back and forth to work on well marked streets with speed limits below 40 MPH (so no super fast highway driving) and during daylight hours and have excellent driving records and keep our cars well maintained.

If we were driving extensively and especially on freeways, I could see being a bit more concerned with liability limits, but our driving record and our choice of vehicles mean that the odds of us causing an accident is, well, minimal. So yes, we're taking a small amount of risk that we won't cause an accident that would cost us more than our current coverage. But it's something to discuss with the husband, as it could be a penny wise/pound foolish situation now.
« Last Edit: November 18, 2013, 02:18:41 PM by Frankies Girl »

nawhite

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #20 on: November 18, 2013, 02:58:21 PM »
... the husband and I both drive smaller vehicles (less chance of heavy damage as we live in the land of SUVs and full sized trucks - we'd probably just cause a few dents and splat like a bug on a windshield) and use the smallest car for our shopping/outing trips. Otherwise, we pretty much only commute back and forth to work on well marked streets with speed limits below 40 MPH (so no super fast highway driving) and during daylight hours and have excellent driving records and keep our cars well maintained.

I think you're underestimating your risk here. Killing someone with your car isn't the only thing you're protecting yourself from. You said you only have 30k/60k coverage. If you rear end someone and give them whiplash, 30k would barely cover the lawyers costs if they sue you and you lose. Or what if a child runs into the street and you don't see them? Or if you back into an expensive car (a new Mercedes, BMW, Cadillac, etc) , you could do over 30k in damage simply by denting a few body panels. And you didn't even hurt anyone!

I'm probably overestimating risk, but when upping your limits is so inexpensive, it seems like a no-brainer. On Geico I was just playing around with these numbers and the cost difference between state minimum limits and $1 Million / $1 Million coverage were about $10/month. 300/300 is more like $5/month more than state minimum.

hybrid

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #21 on: November 18, 2013, 03:05:22 PM »
$1200 a year for a 47 year old male and 59 year old female with a 2010 Mazda 3 (comprehensive), 2005 Mazda 3 (collision), and a 1996 Mazda B2300 (collision).  We have good driving records.  We also have much more than minimum collision on the insurance, and we have an umbrella policy on top of that.  I agree with everyone who said don't skimp on the coverage, you are opening yourself up to a nasty bill if something awful happens.

This should go down when I sell the 2010 Mazda 3 in a month.  My brother is selling me his 2003 Highlander which I will only carry collision on. 

hybrid

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #22 on: November 18, 2013, 03:06:55 PM »
... the husband and I both drive smaller vehicles (less chance of heavy damage as we live in the land of SUVs and full sized trucks - we'd probably just cause a few dents and splat like a bug on a windshield) and use the smallest car for our shopping/outing trips. Otherwise, we pretty much only commute back and forth to work on well marked streets with speed limits below 40 MPH (so no super fast highway driving) and during daylight hours and have excellent driving records and keep our cars well maintained.

I think you're underestimating your risk here. Killing someone with your car isn't the only thing you're protecting yourself from. You said you only have 30k/60k coverage. If you rear end someone and give them whiplash, 30k would barely cover the lawyers costs if they sue you and you lose. Or what if a child runs into the street and you don't see them? Or if you back into an expensive car (a new Mercedes, BMW, Cadillac, etc) , you could do over 30k in damage simply by denting a few body panels. And you didn't even hurt anyone!

I'm probably overestimating risk, but when upping your limits is so inexpensive, it seems like a no-brainer. On Geico I was just playing around with these numbers and the cost difference between state minimum limits and $1 Million / $1 Million coverage were about $10/month. 300/300 is more like $5/month more than state minimum.

+1.  Don't skimp on your liability coverage.

Frankies Girl

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #23 on: November 18, 2013, 03:20:54 PM »
... the husband and I both drive smaller vehicles (less chance of heavy damage as we live in the land of SUVs and full sized trucks - we'd probably just cause a few dents and splat like a bug on a windshield) and use the smallest car for our shopping/outing trips. Otherwise, we pretty much only commute back and forth to work on well marked streets with speed limits below 40 MPH (so no super fast highway driving) and during daylight hours and have excellent driving records and keep our cars well maintained.

I think you're underestimating your risk here. Killing someone with your car isn't the only thing you're protecting yourself from. You said you only have 30k/60k coverage. If you rear end someone and give them whiplash, 30k would barely cover the lawyers costs if they sue you and you lose. Or what if a child runs into the street and you don't see them? Or if you back into an expensive car (a new Mercedes, BMW, Cadillac, etc) , you could do over 30k in damage simply by denting a few body panels. And you didn't even hurt anyone!

I'm probably overestimating risk, but when upping your limits is so inexpensive, it seems like a no-brainer. On Geico I was just playing around with these numbers and the cost difference between state minimum limits and $1 Million / $1 Million coverage were about $10/month. 300/300 is more like $5/month more than state minimum.

+1.  Don't skimp on your liability coverage.

You both are probably right. I just hate having to pay more on the tiny chance of something like that happening, so it's one of those things I needed to work my way slowly around to. I've been noodling with the differences the past couple of days and have adjusted it upwards.
« Last Edit: November 18, 2013, 03:31:18 PM by Frankies Girl »

randymarsh

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #24 on: November 18, 2013, 03:46:56 PM »
The minimum limits in some places are laughably low. It's changing in 2014, but currently I only need $7,500 worth of property damage coverage. Bodily injury liability minimum is $12,500. That's probably 1 night in the ER with some vicodin and a cast for your broken arm!

nawhite

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #25 on: November 18, 2013, 04:03:54 PM »
The minimum limits in some places are laughably low. It's changing in 2014, but currently I only need $7,500 worth of property damage coverage. Bodily injury liability minimum is $12,500. That's probably 1 night in the ER with some vicodin and a cast for your broken arm!

Holy cow! That insurance had better cost about $5/month or something ridiculous because that's all it's worth. $7,500 wouldn't even cover the full cost of destroying an old tree, let alone a telephone pole or a traffic light.

chasesfish

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #26 on: November 18, 2013, 06:14:43 PM »
I'm surprised at how many people are carrying state minimum.  I'm going through my coverages and considering adding a $1mil umbrella.

The lizard is cheaper for auto only, but it seems like when I price out auto, home, and umbrella, the independent agent, american family, and state farm are all coming in at about the same price.  All the insurance companies seem to resist separating the auto and homeowners.

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #27 on: November 19, 2013, 03:59:32 AM »
We pay $300/year for our liability only car -- and that is with some high coverage.

I'm looking forward to dropping down to liability only on our other car next year! (I'd like to get through winter first....)

hybrid

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #28 on: November 19, 2013, 07:08:57 AM »
You both are probably right. I just hate having to pay more on the tiny chance of something like that happening, so it's one of those things I needed to work my way slowly around to. I've been noodling with the differences the past couple of days and have adjusted it upwards.

We are right.  That doesn't mean you will ever injure someone seriously in an accident, in fact the odds are with you that you won't.  Doesn't matter, you have a stache to protect.

Don't play the odds to be penny wise and pound foolish.  A 3000 pound car moving 30 MPH is capable of racking up a huge medical bill that minimums won't come close to covering, and then all your hard work over the years goes up in smoke in a just one poor moment of driving.  Not. Worth. The. Risk. 

William

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #29 on: November 21, 2013, 05:54:00 PM »
Geico quoted me about 70 cents to up my liability coverage from the state min. of 25k to 100k for property damage.

Simplicity

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #30 on: November 23, 2013, 06:06:38 AM »
I am also astounded by how many are utilizing very low limits of liability coverage. Liability coverage is relatively cheap. Personal umbrella policies are cheap. Protect your assets and insure responsibly. For those of you who have comprehensive and collision coverage on your vehicles save money by using higher deductibles. Take the money saved and buy higher liability limits.
Another $1000 won't ruin your life. Being a half million shy on a liability award settlement will.

marielle

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #31 on: April 26, 2017, 01:59:42 PM »
Pretty similar car and age!

I'm 24, drive a 2003 Mitsubishi Eclipse and pay about $25 a month in North Carolina through GEICO. I chose the minimum liability because I have almost no assets right now. But I drive a lot right now, so YMMV (literally)!

BlueMR2

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #32 on: April 27, 2017, 04:26:13 PM »
$30/mo for each of my cars.  Slightly higher for the wife's car.  We've got higher than standard liability limits too.  Also, with Nationwide who's not the cheapest around, but have really good service when you need them.

MrSal

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #33 on: April 27, 2017, 06:22:40 PM »
$180 dollars per year in PA

Liability only.

29 years old. Never an accident. Honda

GetItRight

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #34 on: April 27, 2017, 08:37:47 PM »
Over $1000/yr for legal minimum coverage. I'm in my 30s, never had an at fault accident, never had a points ticket, excellent credit score. The joys of the socialist paradise I live in... My motorcycle is around $100/yr for $300k liability and uninsured along with comprehensive. Unfortunately going bike only is not a realistic option for me, as $100/yr for good insurance coverage and 50 MPG are nice.

Imustacheyouaquestion

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Re: How Much Do You Pay for Auto Liability Insurance?
« Reply #35 on: April 28, 2017, 07:48:42 AM »
Have you priced out what it would cost to rent a car when you need it? Might be cheaper than paying insurance given your age...