Insurance Question
#1
Senior Member
Thread Starter
Insurance Question
Does it sound right that our annual premium would increase by $700 moving same coverage with same insurer from our 2004 E320 wagon to a 2013 E350 wagon?
We have Chubb for homeowners & auto & just received docs in the mail after alerting our agent to the change in vehicles & was shocked at a 37% increase.
We were paying about $1,300 a year for the 2004 wagon and now close to $2K for the 2103. Our 2010 GLK is about $1,500 a year.
Ouch! Probably time to start shopping for homeowners/auto/umbrella but I hate changing and we just moved to Chubb about 18 months ago after 10+ years with Nationwide.
Thanks for any insight.
We have Chubb for homeowners & auto & just received docs in the mail after alerting our agent to the change in vehicles & was shocked at a 37% increase.
We were paying about $1,300 a year for the 2004 wagon and now close to $2K for the 2103. Our 2010 GLK is about $1,500 a year.
Ouch! Probably time to start shopping for homeowners/auto/umbrella but I hate changing and we just moved to Chubb about 18 months ago after 10+ years with Nationwide.
Thanks for any insight.
#2
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Join Date: Feb 2013
Location: Greenville SC USA
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2008 E320 Bluetec (until 11/14), 2001 SLK 320, 2004 Volvo V70, 1972 MGB, 2013 E350
My premiums increased less than $200 when I went from a 2008 E320BT to a 2013 E350. I carry a $1000 deductible on the cars and a $5000 one on my home, so my premiums are substantially less than yours. There are also other factors such as miles driven, age, and location.
Last edited by CarolinaBluetec; 03-31-2015 at 11:39 AM. Reason: SP
#3
Senior Member
Thread Starter
I am going to ask our agent about a $1K deductible. It's crazy. We do less than 10k a year on the cars. They are garaged at home & at work. Commute for both of us is about 5 miles each way. My husband has a minor thing from 2013 on him and my DL is clear. Thanks.
#4
Super Member
Cars cost a lot more to fix these days
Whenever you switch to a brand new car, SOME insurance companies automatically add MBI (Mechanical Breakdown Insurance) which you don't need. Review your policy carefully.
Whenever you switch to a brand new car, SOME insurance companies automatically add MBI (Mechanical Breakdown Insurance) which you don't need. Review your policy carefully.
#5
MBWorld Fanatic!
I was surprised when I went from a 2006 E320 CDI to a 2012 E550 4m that there was a larger than anticipated jump. I have a $1000 deductable on all cars.
I pay $951/year on the E550 compared with ~$650 for the 06 E320. Now that rate just went down to $892 for E550!?! I'm not complaining.
I pay $1285/year on the C63 AMG coupe which was only ~$300 more than my 335i vert.
I pay $951/year on the E550 compared with ~$650 for the 06 E320. Now that rate just went down to $892 for E550!?! I'm not complaining.
I pay $1285/year on the C63 AMG coupe which was only ~$300 more than my 335i vert.
#7
Senior Member
My coverage went up $232 per 6 months when I added my 2012 E350 but it was replacing a 2006 Chevy Avalanche so thats understandable.
My E350 is 779.93 every 6 months (or $1558 per year) with $1000 Deductibles for comp and collision and 10,000 miles per year. This is with 3 cars on the policy, no accidents/tickets.
Keep in mind location plays a lot into it. A high traffic urban area like NYC is far more expensive than a rural area like...South Dakota.
The Central plains and Southern states get a lot of hail for potential comp losses. Some cities like Philadelphia have high auto theft.
My E350 is 779.93 every 6 months (or $1558 per year) with $1000 Deductibles for comp and collision and 10,000 miles per year. This is with 3 cars on the policy, no accidents/tickets.
Keep in mind location plays a lot into it. A high traffic urban area like NYC is far more expensive than a rural area like...South Dakota.
The Central plains and Southern states get a lot of hail for potential comp losses. Some cities like Philadelphia have high auto theft.
Last edited by Diamond White W212; 03-31-2015 at 04:58 PM.
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#8
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Join Date: Nov 2009
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2010 E350 Luxury Sedan, Engine 272 (V6)
My insurance company (USAA) actually offers a discount for new cars. However, you got a car that is nine years newer and I am sure has a lot more equipment on it. Because it is an M-B, it will be very expensive to repair.
My premium is $680 per year with $200 deductible for a '10 "E". Doesn't include the annual membership "rebate." Have three cars and house on policy.
My premium is $680 per year with $200 deductible for a '10 "E". Doesn't include the annual membership "rebate." Have three cars and house on policy.
#10
MBWorld Fanatic!
Does it sound right that our annual premium would increase by $700 moving same coverage with same insurer from our 2004 E320 wagon to a 2013 E350 wagon?
We have Chubb for homeowners & auto & just received docs in the mail after alerting our agent to the change in vehicles & was shocked at a 37% increase.
We were paying about $1,300 a year for the 2004 wagon and now close to $2K for the 2103. Our 2010 GLK is about $1,500 a year.
Ouch! Probably time to start shopping for homeowners/auto/umbrella but I hate changing and we just moved to Chubb about 18 months ago after 10+ years with Nationwide.
Thanks for any insight.
We have Chubb for homeowners & auto & just received docs in the mail after alerting our agent to the change in vehicles & was shocked at a 37% increase.
We were paying about $1,300 a year for the 2004 wagon and now close to $2K for the 2103. Our 2010 GLK is about $1,500 a year.
Ouch! Probably time to start shopping for homeowners/auto/umbrella but I hate changing and we just moved to Chubb about 18 months ago after 10+ years with Nationwide.
Thanks for any insight.
Shop around is a good idea. I pay less than 1100.00 a year for my E63 amg with 1000.00 deductible. Of course premiums on a particular car differ depending on where you live, your age, driving record, number of miles commuting and your credit rating.
#11
Senior Member
Thread Starter
Best I could get by increasing deductible to 1K on both cars was annual reduction of $128 for both cars. I asked what I was saving on my homeowners by bundling auto and it's about $350 a year. I know I can save more than that just moving the auto but probably time to move all lines at renewal.
We switched to Chubb about 2 years ago after we sold our house to downsize and rates were ok when we were in an interim apartment rental. When we bought our house last summer, I stuck with them as we had too much going on and we also needed a rider for art and we didn't have to itemize each work s it was easy.
I have subsequently learned that our home is valued below their average level and that we actually pay a higher rate proportionately and that they really do not want our business. They are targeted to high end homes and policyholders. Nice that I am paying high premiums to be a second class customer. Really annoyed with our agent as I guess he got a first class commission but he swears by their customer service - when you need them & that it is worth the premium excess!
We switched to Chubb about 2 years ago after we sold our house to downsize and rates were ok when we were in an interim apartment rental. When we bought our house last summer, I stuck with them as we had too much going on and we also needed a rider for art and we didn't have to itemize each work s it was easy.
I have subsequently learned that our home is valued below their average level and that we actually pay a higher rate proportionately and that they really do not want our business. They are targeted to high end homes and policyholders. Nice that I am paying high premiums to be a second class customer. Really annoyed with our agent as I guess he got a first class commission but he swears by their customer service - when you need them & that it is worth the premium excess!