Insurance Cost / Quotes / Premiums Thread

[virgnia_rivian]

Personal property tax on a vehicle? Please explain

“Virginia is a personal property tax state where owners of vehicles and leased vehicles are subject to an annual tax based on the value of the vehicle on January 1”

The tax is by county, with most counties levying this tax. For personal vehicles there is relief on a portion of the tax. The rate is higher once a vehicle assessed value is over $20k.

Licensing in Virginia is cheap. Less than $30/year. They get you on the property tax.

What’s crazy is that not every jurisdiction values cars the same. When I moved from Arlington County to the city of Alexandria, my vehicle at the time increased $5k in value. They refused to accept what the neighboring local had valued the vehicle at. It’s nuts.

Many states have this tax. Virginia is the highest.
https://wallethub.com/edu/states-with-the-highest-and-lowest-property-taxes/11585#vehicle

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[connoisseurr]

“Virginia is a personal property tax state where owners of vehicles and leased vehicles are subject to an annual tax based on the value of the vehicle on January 1”

The tax is by county, with most counties levying this tax. For personal vehicles there is relief on a portion of the tax. The rate is higher once a vehicle assessed value is over $20k.

Licensing in Virginia is cheap. Less than $30/year. They get you on the property tax.

What’s crazy is that not every jurisdiction values cars the same. When I moved from Arlington County to the city of Alexandria, my vehicle at the time increased $5k in value. They refused to accept what the neighboring local had valued the vehicle at. It’s nuts.

Many states have this tax. Virginia is the highest.
https://wallethub.com/edu/states-with-the-highest-and-lowest-property-taxes/11585#vehicle

Yeah, while the vehicle registration and titling fees are low, they also get you on the sales tax rate @ 4.15%. I know it's a decent rate compared to some other states, but still ludicrous.

 

[Hankenstein]

Just got a quote from Rivian insurance. It was $996 for 6 months here in Colorado which is great because my Tesla is $1,171 for the same coverage.

I just got something similar from State Farm. $1047 just off of purchase price no VIN.

 

[PNWRIV]

Just got my policy renewal from Rivian/Nationwide insurance. My premium went up 21% from the last 6-month period! $884 now.

I guess they are realizing how expensive these are to fix.

 

[Forager]

Just got my policy renewal from Rivian/Nationwide insurance. My premium went up 21% from the last 6-month period! $884 now.

I guess they are realizing how expensive these are to fix.

Wow. Might be worth paying the full year upfront.

 

[EVRider]

This is really expensive for CA insurance from Rivian?!?! My tesla is not even that much. I got Tesla insurance for the tesla and its under $1200. What on earth is happening with these sky rocketing amounts goodness.....Progressive quoted me an extra $300 a month. I guess I am going with Progressive...

 

[DTown3011]

This is really expensive for CA insurance from Rivian?!?! My tesla is not even that much. I got Tesla insurance for the tesla and its under $1200. What on earth is happening with these sky rocketing amounts goodness.....Progressive quoted me an extra $300 a month. I guess I am going with Progressive...

Yikes that’s excessive….

 

[VSG]

That's more than six times what I pay for mine (USAA).

I just renewed my policy for another 6 months. They hiked the price by $7. This inflation stuff sucks.

 

[TheLTrain]

For CA state minimum through Progressive my 6 month premium is only going up $112 to add the R1T. Have two other vehicles on policy. Even with comprehensive this wouldn’t come close to the numbers people are quoting here!

 

[VSG]

For CA state minimum through Progressive my 6 month premium is only going up $112 to add the R1T.

I would venture to say that for most people who can afford a Rivian, the "state minimum" is both insufficient and a poor choice. Umbrella policies usually require that other insurance, such as car insurance, has significantly more than the minimum coverage especially for liability. Your $112 rate probably indicates that your deductibles are high and that you are not adequately protected against people who are willing to "sue you for all you're worth". And when replacing the windshield on an R1T costs $2000, you're just one rock strike away from spending way more than you would have if you had been adequately insured.

 

[mini2nut]

I just called today for a quote from my Connect (Costco) agent.

Quote was $886 for 6 months including $20 for extra gap insurance. They wanted $1,050 for a 2022 Jeep Gladiator Mojave which was my remote 2nd choice.

 

[bd5400]

As a point of reference, my insurance through Rivian went up $22/month at renewal, which is still cheaper than what Progressive (my prior insurer) quoted me when I first got my R1T and I have better coverage.

Despite the relatively small increase, I'm still pretty happy.

 

[BigE]

I shopped all the big names: Nationwide, Allstate, StateFarm, Geico, Traveler's, Progressive, Amica, AAA, Liberty Mutual and USAA. I also used a few comparison sites.

Policy details for 2022 R1T and 2022 Mustang Mach-E Premium

• 250k/500k/250k
• $250 comprehensive deductible and $500 collision deductible
• Accident forgiveness and vanishing deductible where applicable,
• $50/day rental and $200 disablement/tow
• Glass coverage where applicable

My findings for rates based in Delaware:

• Geico was the lowest rate at $825/6mo
• Rivian's insurance through nationwide is 30-50% higher, over a standard Nationwide rate
  • Example:
    • Rivian quoted $2150/6mo
    • Nationwide quoted $1490/6mo
• USAA was decent at first, but after a record pull, they doubled the rate. We have 1 accident from 2019 that changed the rate.
• I was previously insured with Allstate and they wanted $2300/6mo
• Statefarm, Traveler's, Progressive and Amica were about the same around $1800/6mo
• Liberty Mutual came in just over $1600/6mo
• AAA quoted $3100/1yr

Of these quotes, at least in my experience, Amica is hands down the best insurance company I’ve ever dealt with. It would take a lot for me to leave them at this point. Some maybe cheaper but when it comes to to file a claim or just plain customer service, they are the best.

 

[mini2nut]

This is really expensive for CA insurance from Rivian?!?! My tesla is not even that much. I got Tesla insurance for the tesla and its under $1200. What on earth is happening with these sky rocketing amounts goodness.....Progressive quoted me an extra $300 a month. I guess I am going with Progressive...

$5,200 for 12-month policy is crazy!!!

 

[EVRider]

A $5,200 premium for 12-months is crazy!!!

I was able to get a quote from USAA for waaaaaaaay cheaper ($1100/ for 6mo / $500 deductible) Not sure why they (RIVIAN)quoted me that. I have had no accidents or tickets for 5 years.

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