Illogical! Car insurance costs!
I've just been looking over our car insurance renewal documents that came in the mail. Our policy renews on the 30th of this month, so 2 days from now. Our rates haven't changed for this 6-month renewal period, they're the same as we paid for the past 6 months beginning on 30 March. In any case, I have a hard time believing some of these figures:
|
Insurance type |
2004 Volvo V70R |
2001 Saab 9-5 |
1992 Saab 900 |
|
Automobile Liability Insurance |
128.76 |
163.54 |
151.28 |
|
Personal Injury Protection Benefits |
34.85 |
51.52 |
46.18 |
|
Uninsured motorists insurance |
53.53 |
46.39 |
46.39 |
|
Auto collision insurance |
137.02 |
130.11 |
-- (not covered) |
|
Auto comprehensive insurance |
65.85 |
57.46 |
40.49 |
|
Passive restraint Discount |
(-14.93) |
(-22.07) |
(-11.53) |
|
Antilock Brake Discount |
(-29.52) |
(-32.63) |
(-16.18) |
The crazy question I need answered is this: Why does my underpowered 15 year old Saab 900 cost more to insure for liability than my 3 year old sportwagon with 300 HP? And why is Ani's basic 9-5 sedan more expensive than either of those?
The fact that the 9-5 costs the most for Personal Injury Protection is ludicrous. I can see why the Volvo would be cheaper, because it provides more occupant protection in the form of curtain airbags. But the 9-5 has far better occupant protection than the 900, which is cheaper to insure.
Comprehensive makes at least a little bit of sense, as the vehicle worth the most money costs the most to insure. But the discounts are off... there are more airbags in the Volvo than in the 9-5, but the 9-5's discount is greater, and the ABS discount should be the same for each of the cars which is ABS equipped, but it isn't.
I think I'm going to direct my insurance agent to my blog. Perhaps he can post a comment on the crazy rates. Also, maybe my dad will have some words of wisdom, having retired a couple of years ago from a long career in the insurance industry.
