While car prices dip lower and gradually come back down to pre-pandemic levels, more Americans are still feeling the financial pinch from car ownership — because of insurance.
Yeah, I moved 12 miles away once and it would have doubled my insurance. I just made a deal with the apartment owners that they would grab my insurance bills and I would keep my address there on insurance forms. I moved from that new place a couple years later into a new apartment, and the insurance was still much higher than my original zip code (though not doubled). I just kept my insurance at the first place for the next 6 years, because there was no impact on a daily basis.
It wasn’t until I bought a house and was forced to change my address for house insurance that I finally “moved” away from that first apartment.
I’m not sure I’m understanding. You were living at place B, but your insurance was registered to place A? Wouldn’t the insurer then deny any claims if something were to happen at place B?
You are understanding correctly. And the answer to your second question is, “maybe?” I didn’t look into it. But it was only car insurance, so it didn’t matter where something happened; I mean, it’s a car and is meant to be driven around. Now, if they found out that I had moved without telling them while investigating an accident, then maybe they could deny a claim. The difference was over $100 per month from one neighborhood to another in the same city. Over 8 years that added up to me saving $9600, so if something happened to the Scion tC I was driving during that time then I could have paid for it with those savings. Of course, if I badly injured someone by an accident that was my fault, then I could have been really screwed.
Aha, I forgot the thread’s title and just assumed it was home insurance if it differs that much. The new neighborhood had higher incidence of vandalism maybe, or historically many bad drivers? But yeah, I’d probably risk that as well; a car is mobile, so no reason to have such a huge difference. Would never risk renters/home insurance though.
It was crazy how much extra the car insurance was simply based on where it was “garaged.” Yes, I was moving from the quietest suburb to downtown, which means more vandalism, car theft, and crazy drivers. It makes sense from the insurance perspective, but my perspective was they were insuring how good my driving is.
Yeah, I moved 12 miles away once and it would have doubled my insurance. I just made a deal with the apartment owners that they would grab my insurance bills and I would keep my address there on insurance forms. I moved from that new place a couple years later into a new apartment, and the insurance was still much higher than my original zip code (though not doubled). I just kept my insurance at the first place for the next 6 years, because there was no impact on a daily basis.
It wasn’t until I bought a house and was forced to change my address for house insurance that I finally “moved” away from that first apartment.
I’m not sure I’m understanding. You were living at place B, but your insurance was registered to place A? Wouldn’t the insurer then deny any claims if something were to happen at place B?
You are understanding correctly. And the answer to your second question is, “maybe?” I didn’t look into it. But it was only car insurance, so it didn’t matter where something happened; I mean, it’s a car and is meant to be driven around. Now, if they found out that I had moved without telling them while investigating an accident, then maybe they could deny a claim. The difference was over $100 per month from one neighborhood to another in the same city. Over 8 years that added up to me saving $9600, so if something happened to the Scion tC I was driving during that time then I could have paid for it with those savings. Of course, if I badly injured someone by an accident that was my fault, then I could have been really screwed.
Aha, I forgot the thread’s title and just assumed it was home insurance if it differs that much. The new neighborhood had higher incidence of vandalism maybe, or historically many bad drivers? But yeah, I’d probably risk that as well; a car is mobile, so no reason to have such a huge difference. Would never risk renters/home insurance though.
It was crazy how much extra the car insurance was simply based on where it was “garaged.” Yes, I was moving from the quietest suburb to downtown, which means more vandalism, car theft, and crazy drivers. It makes sense from the insurance perspective, but my perspective was they were insuring how good my driving is.