Insurance quote has doubled since December 02,2020

Well. If the monthly payment doesn't kill me, then the insurance will. 1. Would my rate decrease if I put less then 1,000 miles/year on the TRX? I work full time from home. Does anyone want to elaborate what their monthly loan payment is on their TRX?
If you really drive that little there are 2 things you can consider.

First you can put "collector" insurance on the truck which does have a limit to how many miles per year you can put on a vehicle.

Second there are several companies that since the "pandemic" have started offering a literal "pay per mile" insurance.


That is a link to an article explaining pay per mile and who would benefit from it, but if you truly only plan on driving 1,000 miles per year I'm sure you could save a ton of money going with that even over collectors insurance.
 
If you really drive that little there are 2 things you can consider.

First you can put "collector" insurance on the truck which does have a limit to how many miles per year you can put on a vehicle.

Second there are several companies that since the "pandemic" have started offering a literal "pay per mile" insurance.


That is a link to an article explaining pay per mile and who would benefit from it, but if you truly only plan on driving 1,000 miles per year I'm sure you could save a ton of money going with that even over collectors insurance.
Nationwide is my current insurance for my Charger. It's uses their *SmartMiles* program, which calculates a REALLY low base rate and then adjusts every month based on miles driven.

I've varied from $50 (this last month when it was garaged the whole time), to $130 one month when I put on about 1500 miles with a road trip. It is a wonderful solution for those that will keep the truck under 10,000 miles year. Above that, and you probably won't see much savings.

IMPORTANT: Most of the "collector" car companies have VERY SPECIFIC wording about not only the number of miles driven, but also that it CANNOT be considered a daily driver (driven more than so many days a month). If you have something happen and they catch wind that you drive it most days, albeit, not very far. They will probably deny claims. They will also require that you show proof of regular insurance for your daily. There is so much extra small print with the "collectors" policies, if you go that route, read it carefully.
 
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This thread is tough to read. Insurance agent here

Street speed 717 did not influence rates. If you go find the other insurance post, I explain That the TRX is not in most systems yet and how ISO symbol rating works.

1) don't start an insurance policy before you take delivery of the truck. What if It takes 3 more months. Also, there is something called "insurable interest ". You can't insure something you don't own yet.
2) I would be SHOCKED if street speed filed a claim and got paid. Intentionally jumping, intentionally hitting it, intentionally setting it on fire. He has absolutely no barring on rates. And especially ONE claim would not influence rates that much for ALL TRXs
3) insurance rates are driven by statistics. Data. They will take everything they know about about how 1500s concerning the safety, cost to repair, how they drive, and how they damage other vehicles. THEN factor in statistical chances of accidents, speeding, etc to determine. AFTER THAT they factor in credit, driving history and other personal data.

There is SOOO much that goes into rate, and no ONE incident (that wasn't you) is going to have any noticeable effect. If you have a crazy crazy high quote, its probably because they 1) have the TRX in their system 2) You live in a high risk area (zip code) 3) you personally have an outlier of some sort influencing rate.
Hey NateShift got a few questions.What company do you work for, is the TRX in your system, and if so what is the price your company will be offering? Additionally should we be getting the 100,500,100 option or higher?
 
Hey NateShift got a few questions.What company do you work for, is the TRX in your system, and if so what is the price your company will be offering? Additionally should we be getting the 100,500,100 option or higher?
I am an independent agent. I write in Iowa (primarily), Nebraska, Kansas, Missouri. I have been selling insurance for 12 years now, the other agent in my office has been doing it 40 years.

I represent 10 standard auto carriers, a couple of brokered avenues (HIGH HIGH RISK and weird stuff), and have experience with all of the collector companies (Hagerty for example).

I have checked most of my companies for rates on my future TRX and none of them have it in their systems yet. The best I could do was select a high trimmed Limited to set the base rate. The best I could find for myself (mid 30s, great credit, no tickets/claims) was about $800/year with $1000 deductibles. The average was $1,200 across all of them, which was my expectation.

I always recommend buying higher Liability Limits. $100,000 per person /$300,000 per accident (paid to others if they are hurt) is as low as I would suggest going. Generally, stepping up liability is not the expensive part of insurance, if its possible for you to afford a higher limit like $250,000/$500,000, I highly suggest doing it. Medical bills can get wildly out of control and you'd hate to be slapped with a lawsuit for not having enough coverage. The third number is the property damage limit, I try to sell at least $100,000. This is the coverage that pays for the property you damage. As we all know.... vehicles are creeping up over $100k now. You can easily exhaust that coverage if you hit something new or multiple vehicles. I personally carry $500,000 / $500,000 / $500,000. I don't want to be short.
 
So, after reading some of the insurance quotes on here, I decided to call my State Farm agent. My quote was for $38.38 a month. I’m not sure about some of your driving records, but with multi car, multi line, and safe driver discounts, I’m pretty happy with this quote.
That's quite good. I've seen a few others with really really good rates. It's very possible to have a lot of loyalty/account credits. The older you are, the better the rates will be on this truck.

Expect it to change a bit after the first year, but I bet it'll still be under $50/month for you.

Congrats! (lucky duck)
 
I am an independent agent. I write in Iowa (primarily), Nebraska, Kansas, Missouri. I have been selling insurance for 12 years now, the other agent in my office has been doing it 40 years.

I represent 10 standard auto carriers, a couple of brokered avenues (HIGH HIGH RISK and weird stuff), and have experience with all of the collector companies (Hagerty for example).

I have checked most of my companies for rates on my future TRX and none of them have it in their systems yet. The best I could do was select a high trimmed Limited to set the base rate. The best I could find for myself (mid 30s, great credit, no tickets/claims) was about $800/year with $1000 deductibles. The average was $1,200 across all of them, which was my expectation.

I always recommend buying higher Liability Limits. $100,000 per person /$300,000 per accident (paid to others if they are hurt) is as low as I would suggest going. Generally, stepping up liability is not the expensive part of insurance, if its possible for you to afford a higher limit like $250,000/$500,000, I highly suggest doing it. Medical bills can get wildly out of control and you'd hate to be slapped with a lawsuit for not having enough coverage. The third number is the property damage limit, I try to sell at least $100,000. This is the coverage that pays for the property you damage. As we all know.... vehicles are creeping up over $100k now. You can easily exhaust that coverage if you hit something new or multiple vehicles. I personally carry $500,000 / $500,000 / $500,000. I don't want to be short.
Thanks for the insight. The rate i was given from state farm was 1200 but if its not in their system yet then I may expect that to go up. If it increases my insurance by 140 i wont complain.
 
That's quite good. I've seen a few others with really really good rates. It's very possible to have a lot of loyalty/account credits. The older you are, the better the rates will be on this truck.

Expect it to change a bit after the first year, but I bet it'll still be under $50/month for you.

Congrats! (lucky duck)
I am 50 with no tickets or accidents. Been with State Farm for a long time. I have 5 vehicles and 2 houses with them.
 
This thread is tough to read. Insurance agent here

Street speed 717 did not influence rates. If you go find the other insurance post, I explain That the TRX is not in most systems yet and how ISO symbol rating works.

1) don't start an insurance policy before you take delivery of the truck. What if It takes 3 more months. Also, there is something called "insurable interest ". You can't insure something you don't own yet.
2) I would be SHOCKED if street speed filed a claim and got paid. Intentionally jumping, intentionally hitting it, intentionally setting it on fire. He has absolutely no baring on rates. And especially ONE claim would not influence rates that much for ALL TRXs
3) insurance rates are driven by statistics. Data. They will take everything they know about about 1500s concerning the safety, cost to repair, how they drive, and how they damage other vehicles. THEN factor in statistical chances of accidents, speeding, etc to determine. AFTER THAT they factor in credit, driving history and other personal data.

There is SOOO much that goes into rate, and no ONE incident (that wasn't you) is going to have any noticeable effect. If you have a crazy crazy high quote, its probably because they 1) have the TRX in their system 2) You live in a high risk area (zip code) 3) you personally have an outlier of some sort influencing rate.
That is absolutely correct. I had 2010 GMC SLT with a little 5.3L V8 an extended cab 1500 with an 8ft long bed, which I had special ordered in 2009 in order to get that long bed.
That trucks unusual 8ft bed and being a new model year caused it's VIN to not show up in the insurance company ISO data base at the time I took delivery.
I was told anything they could not find a ISO score for, picked a high risk performance car type rating by default.
That truck was more then double my other vehicles at the time. Luckily that all got sorted out after the first 6 months or so of owning it.
 
This thread is tough to read. Insurance agent here

Street speed 717 did not influence rates. If you go find the other insurance post, I explain That the TRX is not in most systems yet and how ISO symbol rating works.

1) don't start an insurance policy before you take delivery of the truck. What if It takes 3 more months. Also, there is something called "insurable interest ". You can't insure something you don't own yet.

That's interesting because, prior to selling my previous vehicle, I had notified my insurance (Broker) of my intention to sell and buy the TRX. At the time, there was no ETA of the TRX. but I was still going ahead with the sale of my other vehicle. My question was, "if I cancel my current insurance policy and apply for a new policy in the near future (1 to 6 months), will I lose my customer loyalty discount?" The answer was, YES, because my current rate was based on years of uninterrupted service. However, I was told that I could continue to pay for the policy (reduce the coverage type to reduce the premium) and that would secure my "preferred customer rate" for when I made the transfer to the TRX. Point being, separate of the rates, they offered to sell me insurance on a vehilce that I would no longer own. Is that not a contradiction to what you just indicated about not being able to insure something you don't own?
 
Thank you so much!
If you really drive that little there are 2 things you can consider.

First you can put "collector" insurance on the truck which does have a limit to how many miles per year you can put on a vehicle.

Second there are several companies that since the "pandemic" have started offering a literal "pay per mile" insurance.


That is a link to an article explaining pay per mile and who would benefit from it, but if you truly only plan on driving 1,000 miles per year I'm sure you could save a ton of money going with that even over collectors insurance.
I will be looking at that
 
That's interesting because, prior to selling my previous vehicle, I had notified my insurance (Broker) of my intention to sell and buy the TRX. At the time, there was no ETA of the TRX. but I was still going ahead with the sale of my other vehicle. My question was, "if I cancel my current insurance policy and apply for a new policy in the near future (1 to 6 months), will I lose my customer loyalty discount?" The answer was, YES, because my current rate was based on years of uninterrupted service. However, I was told that I could continue to pay for the policy (reduce the coverage type to reduce the premium) and that would secure my "preferred customer rate" for when I made the transfer to the TRX. Point being, separate of the rates, they offered to sell me insurance on a vehilce that I would no longer own. Is that not a contradiction to what you just indicated about not being able to insure something you don't own?
Just because I said you shouldn't do it, doesn't mean that some people don't go ahead and break the rules.

I have done this a few times in the past, but only when its going to be for a week or two. never more than a month.

Once you sell a vehicle, legally you're free and clear of any liability or wrong doing of the next owner. There isn't anything wrong with it per say, but it can cause problems with your insurance if/when you needed it in a surplus capacity. For example, you are driving someone else's car and get into an accident. They do not have enough insurance or any insurance on the vehicle you were driving. At this point your policy would kick in as a secondary policy. If the company finds out that you have not owned the vehicle insured for over 30 days, most policies have a clause that say that coverage is null and void.

Basically.... you shouldn't do it, but the chances of it being a problem (or caught) are relatively low. But it would be when you might need it most.

Your agent would have been better off to change your policy to a "named non-owner" policy. Cheaper and sold under the premise that you don't have a primary vehicle at the moment. Would allow you, most likely, to keep your discounts and continuous insurance credit. Unless your company has some wonky rules.

Insurance has been around for a REALLY LONG time guys... they know the tricks, and usually have a line in the back pages of the policy to cover them for most "loop holes" people think they are exploiting. They've seen literally everything. It's best to just always be honest. Especially when they might be paying the bill for an accident that would otherwise bankrupt you (in a worst case scenerio).
 
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When I sold my car for the TRX I just had my insurance suspended. This way I got to keep loyalty discounts and such. I would ask your insurance companies if that works for them as well.
 
Speaking of insurance.

When I purchased a policy for my TRX (Only a few days ago), I was offered an opportunity to enroll in this new study, where you basically install a mobile app that runs in background and monitors your driving habits. (It's obviously GPS based). If I enroll, I will receive an immediate 10% discount. If I prove to be a law abiding citizen by the end of the 6 month trial, I'll receive an additional 15% discount. That's a pretty good discount.

Questions posed to my agent:

- You do realize what a TRX is, and that I just purchased one, right?
Answer: Not really, it's just expensive. (Me: OK lol)

- What happens when I'm in violation of the hwy traffic act?
Answer: Your score drops and you start to lose some the additional discounts.

- Can the information collected be used against me?
Answer: No

- Can I end up being in a worse position than not having enrolled at all?
Answer: Worse case, you end up paying the same premium prior to enrollment.

- How does the app differentiate driver to passenger?
Answer: The app is really good and can detect if you're driving. Me: I'm not convinced that it can. Agent: You can go into the app settings and select yourself to be a passenger. Me: That makes more sense.

- What happens when a person puts themselves down as a passenger and decides to drive?
Answer: Not sure.

I've asked the agent to send me some literature so that I can study the T&C's and make sure that I'm not signing my life way, and potentially setting myself up to incur additional costs down the road. However, if it's as simple as he said, which is that any traffic violation logged by the app will not be consequential to my existing policy or any future policy. Worse case, I lose the discount.

Has anyone enrolled into something like this before?
If so, how was your experience?
 
When I sold my car for the TRX I just had my insurance suspended. This way I got to keep loyalty discounts and such. I would ask your insurance companies if that works for them as well.
That was the first thing that I had asked, if they could suspend my policy, as I was under the impression that it could be suspended. The answer was, NO.
 
R
Speaking of insurance.

When I purchased a policy for my TRX (Only a few days ago), I was offered an opportunity to enroll in this new study, where you basically install a mobile app that runs in background and monitors your driving habits. (It's obviously GPS based). If I enroll, I will receive an immediate 10% discount. If I prove to be a law abiding citizen by the end of the 6 month trial, I'll receive an additional 15% discount. That's a pretty good discount.

Questions posed to my agent:

- You do realize what a TRX is, and that I just purchased one, right?
Answer: Not really, it's just expensive. (Me: OK lol)

- What happens when I'm in violation of the hwy traffic act?
Answer: Your score drops and you start to lose some the additional discounts.

- Can the information collected be used against me?
Answer: No

- Can I end up being in a worse position than not having enrolled at all?
Answer: Worse case, you end up paying the same premium prior to enrollment.

- How does the app differentiate driver to passenger?
Answer: The app is really good and can detect if you're driving. Me: I'm not convinced that it can. Agent: You can go into the app settings and select yourself to be a passenger. Me: That makes more sense.

- What happens when a person puts themselves down as a passenger and decides to drive?
Answer: Not sure.

I've asked the agent to send me some literature so that I can study the T&C's and make sure that I'm not signing my life way, and potentially setting myself up to incur additional costs down the road. However, if it's as simple as he said, which is that any traffic violation logged by the app will not be consequential to my existing policy or any future policy. Worse case, I lose the discount.

Has anyone enrolled into something like this before?
If so, how was your experience?
Run don’t walk.....😂
 
When I sold my car for the TRX I just had my insurance suspended. This way I got to keep loyalty discounts and such. I would ask your insurance companies if that works for them as well.
This is not something that I can do, in any of the states I represent. Sounds super specific to a small population.
 
Speaking of insurance.

When I purchased a policy for my TRX (Only a few days ago), I was offered an opportunity to enroll in this new study, where you basically install a mobile app that runs in background and monitors your driving habits. (It's obviously GPS based). If I enroll, I will receive an immediate 10% discount. If I prove to be a law abiding citizen by the end of the 6 month trial, I'll receive an additional 15% discount. That's a pretty good discount.

Questions posed to my agent:

- You do realize what a TRX is, and that I just purchased one, right?
Answer: Not really, it's just expensive. (Me: OK lol)

- What happens when I'm in violation of the hwy traffic act?
Answer: Your score drops and you start to lose some the additional discounts.

- Can the information collected be used against me?
Answer: No

- Can I end up being in a worse position than not having enrolled at all?
Answer: Worse case, you end up paying the same premium prior to enrollment.

- How does the app differentiate driver to passenger?
Answer: The app is really good and can detect if you're driving. Me: I'm not convinced that it can. Agent: You can go into the app settings and select yourself to be a passenger. Me: That makes more sense.

- What happens when a person puts themselves down as a passenger and decides to drive?
Answer: Not sure.

I've asked the agent to send me some literature so that I can study the T&C's and make sure that I'm not signing my life way, and potentially setting myself up to incur additional costs down the road. However, if it's as simple as he said, which is that any traffic violation logged by the app will not be consequential to my existing policy or any future policy. Worse case, I lose the discount.

Has anyone enrolled into something like this before?
If so, how was your experience?
So I had to do a similar system when I switched to Progressive 2 years ago. It was one of the chips that plugs into the OBD port and reports back to the company, I believe thru my Progressive app. I had to use it for the full year before I could unplug it. Unplugging it could cause any discounts to be void because it would look like you are intentionally trying to cover up something. I could see my driving habits in almost real time on the app... at least within an hour or so of driving in the worst case that I can remember.

Now, this was in my Raptor, and thankfully I didn't do anything hard core for that year. Here's what I noticed though: made me start running yellow lights because stopping the moment the light turned yellow might give me a "hard stop" on my account (affecting my discount). It would give some kind of beep from the device when a "hard stop" was detected. I finally decided, well I might as well start running through those yellows so I don't get any more hits on my discount. Didn't see any issues with quick starts or hammering the gas (but I suspect different companies have different rules they apply to driving habits).

In the end, I think I got something like a 15% discount... I don't know what the maximum was that I could get. I also don't know how many "hard stops" drop you to the next percentage... that information was near impossible to find from what I could tell.

Here is what concerns me if I have to go back through this with the TRX... those "hard stops" are really hard to avoid in a large/heavy truck. It uses some formula that if you decrease your speed by more than 10mph per second (that may be off a little), it is considered a "hard stop". Also, what happens if I'm off-roading? I can guarantee that I'd be hammering the brakes here and there in that situation.

I'm just hoping I don't have to do this all over for a new vehicle.
 
I've asked the agent to send me some literature so that I can study the T&C's and make sure that I'm not signing my life way, and potentially setting myself up to incur additional costs down the road. However, if it's as simple as he said, which is that any traffic violation logged by the app will not be consequential to my existing policy or any future policy. Worse case, I lose the discount.

Has anyone enrolled into something like this before?
If so, how was your experience?
I can sell this with a couple of companies.

it generally monitors three or four things:
1) when you are driving and how far each trip is
2) how liberal you are with the gas and break (HARD on either). Meaning you're gunning it, or always following too close)
3) if you get EXCESSIVELY speeding (since its GPS tracked)

they like people that don't drive during normal rush hours, or late late at night. They want you to be super easy on the peddles, and obviously don't want you speeding.

of the 3 companies I represent that do this. 2 of them offer immediate 10% discounts, and you can earn up to 30% after 6 months of monitoring. One is just flat 15% immedately. 2 can take away your discount completely, and 1 will ADD A 10% surcharge if you're an absolute shit driver.

This is only really good for people with something that is going to sit in the garage 75% of the time. I've RARELY seen someone get a discount in their daily driver more than the 10%, usually less.
 
So I had to do a similar system when I switched to Progressive 2 years ago. It was one of the chips that plugs into the OBD port and reports back to the company, I believe thru my Progressive app. I had to use it for the full year before I could unplug it. Unplugging it could cause any discounts to be void because it would look like you are intentionally trying to cover up something. I could see my driving habits in almost real time on the app... at least within an hour or so of driving in the worst case that I can remember.

Now, this was in my Raptor, and thankfully I didn't do anything hard core for that year. Here's what I noticed though: made me start running yellow lights because stopping the moment the light turned yellow might give me a "hard stop" on my account (affecting my discount). It would give some kind of beep from the device when a "hard stop" was detected. I finally decided, well I might as well start running through those yellows so I don't get any more hits on my discount. Didn't see any issues with quick starts or hammering the gas (but I suspect different companies have different rules they apply to driving habits).

In the end, I think I got something like a 15% discount... I don't know what the maximum was that I could get. I also don't know how many "hard stops" drop you to the next percentage... that information was near impossible to find from what I could tell.

Here is what concerns me if I have to go back through this with the TRX... those "hard stops" are really hard to avoid in a large/heavy truck. It uses some formula that if you decrease your speed by more than 10mph per second (that may be off a little), it is considered a "hard stop". Also, what happens if I'm off-roading? I can guarantee that I'd be hammering the brakes here and there in that situation.

I'm just hoping I don't have to do this all over for a new vehicle.
SO SPOT ON. 100% all of this.
 

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