2 cars, 2 drivers, both cars are ~10 years old sedans, current resale value for both would be 12-13k max. No at-fault accidents or tickets for both drivers. All state charges 160 per month. Paying close to 2000/year for our cars which are only 12-13k (together) worth seems very high. Each car is driven 35 miles every weekday. Are we overcovered or overcharged? How much are you paying? Which provider? Appreciate any inputs.
Seems about right. As poster above said, injury liability is a big part of it and a big factor there is your location and driving circumstances. Try metromile if you don’t drive much.
Each car is driven 35 miles per day. Will checkout metromile though
Up your damage and make sure your umbrella covers your assets. After that if you want to lower the rate up your deductible. 500 is very low.
What are some typical numbers for these? 50,000 property damage, 1000 deductible?
Your numbers are great if not low. 30k is the min in ca. Deductible is up to you but moving it to a couple thousand will save you a ton.
I would suggest trying out Gabi. Its a startup which compares insurance. Basically a marketplace. Which would give you similar quotes based on policy document you upload. No agents or emails. Let me know if you want a referral.
I just submitted my info over there 30 mins back. Would have used your link if I’d known before.
Need referral
Most of the cost is in 2 things: Zip code. Bay area is $$$$. 100/300/100 coverage. Costs a lot to insure a lot. I would not change this. In bay area you can hit a 90k Tesla on every corner. Dont be underinsured. But if the cars are 10+ years old and barely worth 10-12k, and you can afford to sell insure for self-caused accidents (betting on yourself), then I would drop collision on both cars and raise comp to 1000$ just for theft. This is what I do. Saves a lot. And I have a newer '14 and '07 vehicles. But no accidents in 20+ years and betting I won't anytime soon. Otherwise simply shop around.
I had exact same coverage(collision/comprehensive $500) for 2 cars, 2 drivers. Car 1: 4 year old and car 2: 12 years old. When I had “All state” insurance I used to pay ~$1900 per year. I moved to progressive with the same coverage and now I pay ~$1350 :) Keep shopping for good quote:)
I am planning to call Geico and Progressive tomorrow
What are your liability limits and property damage?
Make liability 500/500 and property damage 100k and take umbrella if you own house. Most of the cost is collision make 1k deduct
Most of it is for liability...