Insurance Quote

Don

TRX Fanatic
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2014 Z28
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Not sure if this has been discussed

I am being quoted:
$1,600.00 a year (personal) GEICO
$1,300.00 a year (corporate) Travelers (This is a flat rate on all corporate vehicles)

Is this the going rate?
I have faster cars for less.

Ouch!
 
Not sure if this has been discussed

I am being quoted:
$1,600.00 a year (personal) GEICO
$1,300.00 a year (corporate) Travelers (This is a flat rate on all corporate vehicles)

Is this the going rate?
I have faster cars for less.

Ouch!
Seems REALLY high... I'm being quoted about $995 per year and still digging for better rates. I'm located in Colorado, with perfect credit, perfect driving record, and 40 yr young.
 
Insurance agent here. Those numbers are not surprising at all, Given the MSRP, HP, and purpose built personality. Every vehicle is assigned what is called an ISO symbol (or rate multiplier), *most* pickups are in the 25-35 range (on a scale of 1 -80). This truck is hitting in at about 67 or 68 from the two quotes I've seen. That puts it at about the highest I've ever seen. The list of higher include Most other hellcat variants, Viper, ZR1, Gt500, and high end European exotics. The latter aren't even on the scale sometimes because they are so far off of it. This symbol system is used by nearly every carrier and factors in hundreds of tangible and intangible variables.

Now... every state is different and you'll see higher rates in the cities, but I would peg an average rate of $1200/year to be spot on. If you find less, lucky you, imho.
 
Insurance agent here. Those numbers are not surprising at all, Given the MSRP, HP, and purpose built personality. Every vehicle is assigned what is called an ISO symbol (or rate multiplier), *most* pickups are in the 25-35 range (on a scale of 1 -80). This truck is hitting in at about 67 or 68 from the two quotes I've seen. That puts it at about the highest I've ever seen. The list of higher include Most other hellcat variants, Viper, ZR1, Gt500, and high end European exotics. The latter aren't even on the scale sometimes because they are so far off of it. This symbol system is used by nearly every carrier and factors in hundreds of tangible and intangible variables.

Now... every state is different and you'll see higher rates in the cities, but I would peg an average rate of $1200/year to be spot on. If you find less, lucky you, imho.
I'll consider myself a lottery winner then my agent quoted me $305 per year for the TRX. I do have a sizeable policy with them with all my rental properties on it though so I'm guessing that plays factor based on my rate being a fourth what you say should be average, but I would like to think it is my perfect driving record of no accidents and no tickets since I started driving 17 years ago (knock on wood)
 
I'll consider myself a lottery winner then my agent quoted me $305 per year for the TRX. I do have a sizeable policy with them with all my rental properties on it though so I'm guessing that plays factor based on my rate being a fourth what you say should be average, but I would like to think it is my perfect driving record of no accidents and no tickets since I started driving 17 years ago (knock on wood)
I'd say something isn't right, but enjoy it while you can. Comparing insurance to others is like comparing apples and oranges.

my guess... the TRX isn't in their system and you got assigned a base Ram 1500 rate, they'll catch up to it.
 
I'm also not looking forward to registration tabs, well over 1000 for the demon. : (
 
For Example. This is one of my national carriers. THIS IS A BIG BIG Insurance company. The TRX isn't in the system, it assigns a base laramie 1500 rate when I plug in my VIN. It's not correct, and probably won't be until Q3 of 2021.
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I'd say something isn't right, but enjoy it while you can. Comparing insurance to others is like comparing apples and oranges.

my guess... the TRX isn't in their system and you got assigned a base Ram 1500 rate, they'll catch up to it.
So the question is will the Ins company honor the potential claim or not? That is the one that doesn’t have the Trx in it’s system. Thanks
 
Sure they would, absolutely no worries. ESPECIALLY since its an OEM factory truck. This is really common with new model year vehicles. It's just a wider difference than you'd normally see since its a ridiculous 702HP Truck.

Where you can get in trouble is custom built vehicles. Say you buy a base model Mustang GT, then spend $50,000 upgrading it. If you don't have a very specific conversation with your insurance company, the extra $50,000 you spent is not going to be covered.
 
Sure they would, absolutely no worries. ESPECIALLY since its an OEM factory truck. This is really common with new model year vehicles. It's just a wider difference than you'd normally see since its a ridiculous 702HP Truck.

Where you can get in trouble is custom built vehicles. Say you buy a base model Mustang GT, then spend $50,000 upgrading it. If you don't have a very specific conversation with your insurance company, the extra $50,000 you spent is not going to be covered.
Thanks
 
Sure they would, absolutely no worries. ESPECIALLY since its an OEM factory truck. This is really common with new model year vehicles. It's just a wider difference than you'd normally see since its a ridiculous 702HP Truck.

Where you can get in trouble is custom built vehicles. Say you buy a base model Mustang GT, then spend $50,000 upgrading it. If you don't have a very specific conversation with your insurance company, the extra $50,000 you spent is not going to be covered.
My current truck a 2019 ram limited 1500 MSRP $66,500 I have been paying $280 per year, my agent said it wasn't in their system but he did the quote based on MSRP of a $84,500 pickup and once it gets in the system he said it might go "slightly" up or down in the second year.

That being said my premiums on my rental properties total almost $45,000 per year so it makes me think that maybe they are just willing to eat the cost of a totaled vehicle rather than risk me going somewhere else with my whole policy
 
My current truck a 2019 ram limited 1500 MSRP $66,500 I have been paying $280 per year, my agent said it wasn't in their system but he did the quote based on MSRP of a $84,500 pickup and once it gets in the system he said it might go "slightly" up or down in the second year.

That being said my premiums on my rental properties total almost $45,000 per year so it makes me think that maybe they are just willing to eat the cost of a totaled vehicle rather than risk me going somewhere else with my whole policy
/shrug, I've had companies cancel a $100 policy tied to a $100,000 policy, they don't care.
Good for you though, that's bonkers good rate on a $80k vehicle. I've been doing this 12 years and don't think I've ever seen anything that low. Maybe rates in Illinois/Chicago are just different...
 
Just checked mine, and quoted at $285/yr. Doesn't give any more info in the quote using the VIN than the selection without a VIN does... Ram 1500 Crew Cab 4x4. If that holds true when I get my truck, I certainly won't complain.
 
Insurance agent here. Those numbers are not surprising at all, Given the MSRP, HP, and purpose built personality. Every vehicle is assigned what is called an ISO symbol (or rate multiplier), *most* pickups are in the 25-35 range (on a scale of 1 -80). This truck is hitting in at about 67 or 68 from the two quotes I've seen. That puts it at about the highest I've ever seen. The list of higher include Most other hellcat variants, Viper, ZR1, Gt500, and high end European exotics. The latter aren't even on the scale sometimes because they are so far off of it. This symbol system is used by nearly every carrier and factors in hundreds of tangible and intangible variables.

Now... every state is different and you'll see higher rates in the cities, but I would peg an average rate of $1200/year to be spot on. If you find less, lucky you, imho.
Thank you for the information. That’s what I’ve been quoted is $1200/A year. But that was for 2021!!! Looks like I’ll need a quote for 2022!!🙃
 
Insurance agent here. Those numbers are not surprising at all, Given the MSRP, HP, and purpose built personality. Every vehicle is assigned what is called an ISO symbol (or rate multiplier), *most* pickups are in the 25-35 range (on a scale of 1 -80). This truck is hitting in at about 67 or 68 from the two quotes I've seen. That puts it at about the highest I've ever seen. The list of higher include Most other hellcat variants, Viper, ZR1, Gt500, and high end European exotics. The latter aren't even on the scale sometimes because they are so far off of it. This symbol system is used by nearly every carrier and factors in hundreds of tangible and intangible variables.

Now... every state is different and you'll see higher rates in the cities, but I would peg an average rate of $1200/year to be spot on. If you find less, lucky you, imho.
My Demon was cheaper than the TRX, is it the all wheel drive?
 
My Demon was cheaper than the TRX, is it the all wheel drive?
Size is a factor I think. The TRX is likely to do more damage in a crash so the avg damage cost per incident is higher on larger vehicles. That's what my insurance agent told me when my 2020 Corvette came in less then my 99 F350.
 
Not sure if this has been discussed

I am being quoted:
$1,600.00 a year (personal) GEICO
$1,300.00 a year (corporate) Travelers (This is a flat rate on all corporate vehicles)

Is this the going rate?
I have faster cars for less.

Ouch!
My suggestion is lock that rate in for as long as you can. Insurance companies don’t know what a TRX is yet. (They will soon and the rate might be double). Just renewed my car insurance at it was only another $10 a month vs. my Grand Cherokee.
 
My Demon was cheaper than the TRX, is it the all wheel drive?
I really doubt it's because of that. However, I've seen BMWs with the X-drive system rate REALLY high as well, but I chalked it up to it just being a high end BMW. Maybe there is a correlation.

Thats the thing about ISO rates, no one really knows what factor is playing the biggest part. We can only really make educated guesses at the WHY. You'd need to be a statistician or actuarial for the rating company to know.

An interesting thing about those ISO symbols. Corvettes have a fairly low symbol, mostly due to the um... cough... demographic that usually purchases them. They figure they are garage queens and driven lightly. I'd bet that claims on Demons overall are pretty low, people are keeping them in the garage a lot. That might drive rates down a bit on them. I insure one Demon in my Agency and its also around $1200/year.
 
Size is a factor I think. The TRX is likely to do more damage in a crash so the avg damage cost per incident is higher on larger vehicles. That's what my insurance agent told me when my 2020 Corvette came in less then my 99 F350.
That is absolutely a factor. one of many. Good agent there.
 

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