Help me lower my auto insurance!

[OutBy40]

Guys,

I know that auto insurance has been discussed a lot, and I am trying to make heads our tails out of how much we should be paying in insurance costs.  I know that we are paying too much, and our insurance carrier is USAA.

We have two cars: a 2010 Cadillac CTS and a 2009 Honda Ridgeline.  First, I know these cars aren't Mustachian ... that's another matter.

We pay over $800 a year for the CTS and over $600 for the Ridgeline.  I want to get these payments lower, if possible.

I am 33 and my wife is 30.  We both have flawless driving records.  I barely drive the Ridgeline and my wife commutes in the CTS every day, about 40 miles round trip.

On both cars, we have bodily injury and property damage liability (which I believe is required in AZ - at least liability).

We also have comprehensive ($1,000 deductible), collision ($1,000 deductible) and uninsured motorist bodily injury.  We also pay $7 for towing and labor.

I am looking for what people generally do to cut out the shit that we probably don't need and is worth the risk not having based on the car.  I realize that the cheaper the car is worth, the less risk there is in eliminating a lot of insurance coverage. 

Any thoughts on this situation?

Thanks.

[Bob W]

Good question.  Your rates don't seem entirely out of line.   Your best bet is to search locally for an independent multiline insurance carrier and have them bid it out.    Don't fill out any web site crap or you will have phone calls for months.

You might even do this with two independent agencies.

You can lower your premium slightly by telling them you drive less than 10 miles per day or have them classified as leisure (whatever the lowest annual mileage category is in your state)

Of course you could easily cut that in half if you went with a nice 5K used vehicle and were willing to assume the comprehensive side of the risk and roll the dice.   90% of the time you win this bet but be sure to keep an uninsured and underinsured rider.   

 

[MayDay]

I don't have access to USAA so I can't compare with them, but I called absolutely everyone and got the lowest price from Costco's program. 

They all lower costs if you are combining multiple policies, so if you have renters or homeowners, make sure you get a quote for them together. 

[JLee]

Are you getting a Snapshot discount? If you rarely drive, that can save you some money. I'm getting an 18% discount on one vehicle and 15% on another.

[MDM]

See http://forum.mrmoneymustache.com/welcome-to-the-forum/rule-of-thumb-for-dropping-collision-and-comprehensive/ for relevant discussion.