Insurance Notes From Down South

Pitter

Pitter
Contributor
:
2020 CX-5 Signature Azul Metalico
I was looking over the insurance policy I got with my new Signature. It was supplied by an agent with the dealership but is the same company I have used in the past. Cost at current Colombian peso/US dollar exchange rate was one thousand dollars for the year. Our top of the line insurance policies have some interesting features. The policy I bought included "key in hand" meaning that in case of theft the car will be replaced by a new one exactly like it with zero miles. This coverage can be extended for two more years. Cali, the city where I do most of my driving has a very high car theft rate so this is a popular coverage. Another interesting feature is that if you have an accident you call a hotline number and the insurance agency sends a lawyer directly to the scene of the accident who represents you dealing with both the other party and the Transit Police. (If there is the slightest injury, a scraped arm even the Transit Police will send both vehicles to the "patio" where they will sit for a month or more while blame is determined, a horrendous outcome the lawyer can help avoid). Like most US coverage tow truck service is included should you have either an accident or break down where the car is undrivable. However here they are excused from having to provide that service if your vehicle is in a "zona roja" i.e. hot zone where the guerrilla are active or in the worst neighborhoods in cities. It's all right there in print in the policy manual.
 
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Avoidin Deer

Zoom Zoom, baby
Contributor
:
Central Virginia
:
2019 CX-5 Reserve
I'm shocked rates are that low in an area that has the level of crime and car theft/vandalism you describe. I pay more than that to cover my CX-5 and my 15 year old truck. I'm 65 and have not had a claim in over 30 years.

Part of what drives rates so high here in the states are the personal injury liability suits.
 

Avoidin Deer

Zoom Zoom, baby
Contributor
:
Central Virginia
:
2019 CX-5 Reserve
And in FL, so many drivers have no insurance. Ed
Virginia has a fee they charge people who do not have insurance. It's $500/year.
You must either have insurance or pay the fee in order to register your vehicle in the state.

The fee does nothing for those of us who are in an accident caused by someone who lacks insurance.
It doesn't go into a risk or payment pool.

Other than generating revenue for the state, it is pointless.
 

Pitter

Pitter
Contributor
:
2020 CX-5 Signature Azul Metalico
The insurance plan I described is a private plan. There is also a mandatory government plan called SOAT that every vehicle must carry even if you have a private plan. It covers injuries to people involved in an accident including pedestrians. It is not expensive though, only about $200 US a year. That of course brings my annual insurance cost to about $1200. People who don't have a new car don't spend the money for a private plan and just come to an agreement in the case of fender benders. Cali which is warm. 80 degrees or more is rife with "motos", Chinese or Indian made motorcycles of 100cc on up but mostly 125cc. Most people can't afford a car. The motos are involved in 80% or more of accidents and they are almost always hurt to some extent so their mandatory insurance cost is higher than say a new Mazda 2.
 

Avoidin Deer

Zoom Zoom, baby
Contributor
:
Central Virginia
:
2019 CX-5 Reserve
Our insurance requirements vary by state.

And some states have annual vehicle safety inspection requirements (lights, signals, brakes, tires, horn, wipers, etc) you must pass in order to put the vehicle on the road. Other states have no such thing.

So depending on where you live, the quality of the drivers and the condition of the vehicles around you varies greatly, as does your personal risk should one of them injure you or damage your car.
 

ColoradoDriver

Gen-1 Kodo Design
Contributor
:
Denver, CO
:
2014 CX-5 Touring
Cheap. As of my most recent renewal (this month), I am now paying $2268 a year. Sucks to live in Denver.
 

Avoidin Deer

Zoom Zoom, baby
Contributor
:
Central Virginia
:
2019 CX-5 Reserve
Wow! I hope ours does not go up when they legalize pot next year. I pay $1k/year for full coverage on both our vehicles combined.
This stuff makes no sense.

I pay more than that to insure my CX-5 and my 15 year old truck...and I can only drive one at a time.

I have not had a claim in 25 years, and that was because I slid on ice and hit a guardrail...no other vehicles involved.
 

ColoradoDriver

Gen-1 Kodo Design
Contributor
:
Denver, CO
:
2014 CX-5 Touring
Thank the potheads.
Part of it, but the bigger part has been the severe hailstorms and $1 billion+ in claims that followed each of those storms in the past 2 years.

....at least that's what they keep saying.

Supposedly my rates will get better when I hit 30. We'll see. My guess is better will be "what they used to be....maybe".
 

wlong01

Patron
:
2019 CX5 Reserve AWD
Part of it, but the bigger part has been the severe hailstorms and $1 billion+ in claims that followed each of those storms in the past 2 years.

....at least that's what they keep saying.

Supposedly my rates will get better when I hit 30. We'll see. My guess is better will be "what they used to be....maybe".
I'm paying $2400.00 for two cars, 16 Touring, 19 GTR - top of the line full coverage. I think that's a little high considering we both have no accidents and no violations and we live in a pretty suburban area.
 
:
2018 CX5 GT, Metallic Machine Gray and 2018 MX-5 RF GT, Soul Red
We legalized "pot" earlier this year in Canada... no increase in insurance rates (spin). Although the CX5 is a more expensive vehicle my insurance for my 2018 CX5 GT is less than on our 2018 Honda Civic EX. According to our insurance carrier it is because our Honda has all added safety features (adaptive cruise control, lane watch, etc.) that I don't have on the CX5. Simply... the Honda is more expensive to repair a front end collision due to the added tech features.

Wade
 

Pitter

Pitter
Contributor
:
2020 CX-5 Signature Azul Metalico
Ha! Finally finished reading the 38 page policy booklet describing in detail what the policy does and doesn't cover. One of the roadside services the company provides is sending a designated driver to drive you home in your vehicle should you find yourself too ill or ha ha too drunk to drive. The usefulness in the both cases seems rather mitigated since you're required to solicit the service four hours in advance of the drivers arrival. I would guess in the latter case the four hours would pretty much give you time to sober up or alternatively I guess you could call them on your way to the party.
 

wlong01

Patron
:
2019 CX5 Reserve AWD
We legalized "pot" earlier this year in Canada... no increase in insurance rates (spin). Although the CX5 is a more expensive vehicle my insurance for my 2018 CX5 GT is less than on our 2018 Honda Civic EX. According to our insurance carrier it is because our Honda has all added safety features (adaptive cruise control, lane watch, etc.) that I don't have on the CX5. Simply... the Honda is more expensive to repair a front end collision due to the added tech features.

Wade
That's pretty crazy because our insurance dropped $60.00 a year when we went from a 2008 Honda CR-V EXL to a 2019 CX-5 GTR. The CR-V didn't even have a rear-view camera.
 
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