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#1 2014-05-09 19:46:19

rich00
Member
Registered: 2010-01-18
Posts: 166

Car insurance went up after selling one car

Two drivers on the policy, we had two cars. I sold mine and the insurance went up for us. Even with taking myself off the policy, the rate is even higher (for one driver, one car).

FML

So much for trying to save money by not owning a car.

Last edited by rich00 (2014-05-09 19:48:49)

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#2 2014-05-10 00:14:27

dougmc
Administrator
Registered: 2008-06-01
Posts: 548

Re: Car insurance went up after selling one car

Your total insurance bill for two cars was less than your total insurance bill for one car?  If so, that's quite suprising.

Now, if you sold a car and your total insurance went down, but your insurance for the remaining car went up somewhat ... that's normal.  Insurance companies like to give you a "multi-car discount" -- usually not a huge amount, but like 10 or 20% off.  And so when you took the other cars off the policy, you lose that discount.

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#3 2014-05-11 21:47:42

rich00
Member
Registered: 2010-01-18
Posts: 166

Re: Car insurance went up after selling one car

Yes, the total went up. The car we kept is newer and so it has collision and comprehensive coverage. But it still doesn't make sense.

I didn't expect the total cost to drop 50%, but maybe 30%, instead of increasing 15%.

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