Affinity car loans

NM has lots of drunk drivers like we do here in CO which doesn't help the rates. In NM like 30% of fatal accidents involve drunk drivers, 30% in CO too, which drops to 22% in Vermont. https://www.responsibility.org/alcohol- ... e/vermont/ All three states are at-fault states so it's not no-fault driving up rates. $100 for three cars is insane. My $100K CSL policy with $1K deductibles with Progressive was like $150 a month on my Focus and that was with no tickets or accidents either. Progressive was the cheapest quote I got too.

It sounds like insurance premiums vary widely from state to state. Your examples above show two dramatically different results when I would think they'd be relatively similar. Good info!

BrutalBodyShots wrote: ↑Tue Mar 08, 2022 3:22 pm It sounds like insurance premiums vary widely from state to state. Your examples above show two dramatically different results when I would think they'd be relatively similar. Good info!

I came to say this exact thing. I knew there are many variables to insurance premiums, but I didn't know they varied so widely from state to state, and I honestly didn't know people had so many different views on premiums/deductibles either. I'm 44, DW is 37, and we live in Oklahoma. We both have clean driving records. You can see my credit scores, and DW's credit is immaculate (FICO 8's 800+). We both have new vehicles...hers a 2020 Honda CRV, and mine a 2021 RAM Truck. For full coverage (including Uninsured Motorist coverage) with a $500 deductible, we pay less than $80 each per month. I'm sure a $1000 (or more) would be even cheaper, but we like knowing we're only out $500 if something should happen. We don't plan on being at fault in an accident either, but OK is one of the worst states both for damaging weather, and for drivers with no insurance, so we're only out $500 if we get hailed on, are at fault in a wreck, or if someone with no insurance hits one of us. Obviously others feel different, but for $80 per month, it's just a no-brainer to us.

@Saeren @BrutalBodyShots , It was interesting even going from NH to VT for insurance rates. When I first went to NH for temp work, the rates went way down, and I was super excited! Then when I bought the new ride and moved my rates to VT, also for temp work, my rates stayed about the same, even adding a second vehicle with full coverage (3 vehicles total). So, NH must have higher risk, probably because of the no insurance required laws, where VT requires minimum coverage. The 3rd vehicle is liability only, it is probably worth scrap value, so I never bothered with full coverage. Plus, it has a salvage title, so I don't believe it ever qualified for full coverage. It is parked permanently for the time being until I decide what to do with it. Sentimental value is a bitch. I find it really hard to let go of. I have considered removing it from the insurance. I would have to play with the numbers to see.

I forgot to mention, these premiums are also, of course, with crap credit.

I wonder, does anyone know, if when you renew every 6 months, does the insurance company take into consideration a SP of one's insurance credit score?

My rates stay the same every renewal, so I am thinking not. I have made loads of progress, but my rates always remain the same. I have only had 1 renewal, but between buying new ride and now, there has been a big score change.

I remember when I got the new ride and changed states where vehicles were parked, the agent did ask about doing a SP at that time.

That's a good question and one I would definitely pose to your insurance agent since a change could save you some bucks.

LaHossBoss wrote: ↑Tue Mar 08, 2022 2:21 pm

BrutalBodyShots wrote: ↑Mon Mar 07, 2022 10:18 pm Insurance... probably the biggest reason I stop myself from getting a new car. Once my 2012 Accord was paid off in 2017 or 2018 I immediately dropped my policy down to the minimum liability available. Since that time, I only pay $52/mo for car insurance. Sure my car is 10 years old now, but with no car payment and $52/mo for insurance I can't bring myself to take on another (say) $350-$400/mo for a new car and the increased insurance that it would require. Eventually of course when repairs start to become increasingly common the right decision will have to be made. I'm hoping that's still a couple of years out

SO and my greatest argument for many years was the "I" word lol I hate insurance. I have it now because I have an auto loan. If I became a resident of NH it is not required at all, but can be risky if you do happen to be in an accident. Whenever I have rented a car in NH, no proof of insurance was ever required. For rates in NM, they are astronomical! When SO and myself both had auto loans (before the most recent credit crash of ours), the insurance was as much as the loan payments. We were a bit younger, but it was insane. While I travel for work, I have to update where my vehicle is parked overnight (for extended period of time), which has drastically benefitted us. Since I have used VT as my loacation (even while NM is my permanent home state), the rates have slashed! I pay about $100/mo for full coverage with high coverage amounts and $0 deductibles - for 3 vehicles! It is crazy, IMO. What a difference from NM. I dread ever going home, because I, too, will like have to make an adjustment to my coverages and deductibles. Liability coverage only, bare bones, back in NM for 1 vehicle, not worth more than $500, is over $100/mo. Thisbis with no tickets, no claims, and no accidents. Ridiculous! I will say the difference between "as little as possible" and "as much as possible" was very small for the VT rates. It really made no sense to not have the better coverages and lower deductibles for just a few bucks a month. I have considered removing roadside assistance, but it is less than $1/mo. Same with rental car, it is only change every month, so I see no need to remove it.

For my friend, our insurance rates are much higher. And just the difference between a $1000 deductible and a $2500 deductible is more than your entire policies! At least that’s what I was informed by them today when they checked. I’m gonna try to help him out tomorrow and see if there were mistakes made. Yes I was unaware of the differences were so large between states either. Here in Florida they’re not cheap. And yes it is full coverage with uninsured motorist, which I highly recommend to everyone. A lot of people think it’s just uninsured motorist, but it is also underinsured motorist, so if someone hits you and their fault and they don’t have enough insurance, it then picks up and covers you as well. @LaHossBoss you better believe your credit file makes a big difference except in a couple states. What you have to do is optimize your score and then have your insurance agent do a new pull. When you have to renew and you have them pull it and see a higher score, let me tell you what, you will see the premium go down, in Florida at least! When I learned how CBIS worked, I optimized and my rates went way down!! But you’ve got to have them pull it when it’s optimized for best results, of course, so timing is important!

Birdman wrote: ↑Tue Mar 08, 2022 10:44 pm @LaHossBoss you better believe your credit file makes a big difference except in a couple states. What you have to do is optimize your score and then have your insurance agent do a new pull. When you have to renew and you have them pull it and see a higher score, let me tell you what, you will see the premium go down, in Florida at least! When I learned how CBIS worked, I optimized and my rates went way down!! But you’ve got to have them pull it when it’s optimized for best results, of course, so timing is important!

Yes, I always get uninsured motorist coverage, I believe in NM it may be a requirement, anyway. High percentage of uninsured motorists out there! I believe my renewal is coming up in May, so I have about 2 months to pretty up my profile for the pull. It may be worth waiting until Nov when I will be basically clean. I guess I could ask at each of my next renewals? Even not optimized, my scores are drastically improved from last May when I acquired my new ride updated the policy. I guess it can't really hurt. My insurance company did state it would be a SP and not a HP, which it was, so why not? I do feel your pain between cost of coverage amounts. Is there any way to back out of that loan and go with someone else since they didn't disclose it? I would do some research on the banks, because like I said, it has always been a requirement with the ones I have gone through, and they were all major banks (Cap One,WF, etc.), except for a local credit union, once, which also required it. Side note, that local credit union was *amazing* and even offered loss of life policy (many do not and I double checked when shopping for my most recent auto loan). I was only 10 months (if that) into the 60 month auto loan and my mother passed away (she was the primary on the loan because I could not get financed at the time) and they paid off the remainder of the loan on a 35k vehicle, which 8 years ago, I really needed and they did not put up any fight and just covered it. I had one point of contact I worked with the entire time and he was simply amazing. Too bad I had to sell it immediately because we were so deep in debt or I would still have it. I guess you would have to do the math between cost of interest and cost of ins coverage. If it is that big of a gap for insurance, it may just be worth a slightly higher interest rate for the auto loan.

LaHossBoss wrote: ↑Wed Mar 09, 2022 7:36 pm

Birdman wrote: ↑Tue Mar 08, 2022 10:44 pm @LaHossBoss you better believe your credit file makes a big difference except in a couple states. What you have to do is optimize your score and then have your insurance agent do a new pull. When you have to renew and you have them pull it and see a higher score, let me tell you what, you will see the premium go down, in Florida at least! When I learned how CBIS worked, I optimized and my rates went way down!! But you’ve got to have them pull it when it’s optimized for best results, of course, so timing is important!

Yes, I always get uninsured motorist coverage, I believe in NM it may be a requirement, anyway. High percentage of uninsured motorists out there! I believe my renewal is coming up in May, so I have about 2 months to pretty up my profile for the pull. It may be worth waiting until Nov when I will be basically clean. I guess I could ask at each of my next renewals? Even not optimized, my scores are drastically improved from last May when I acquired my new ride updated the policy. I guess it can't really hurt. My insurance company did state it would be a SP and not a HP, which it was, so why not? I do feel your pain between cost of coverage amounts. Is there any way to back out of that loan and go with someone else since they didn't disclose it? I would do some research on the banks, because like I said, it has always been a requirement with the ones I have gone through, and they were all major banks (Cap One,WF, etc.), except for a local credit union, once, which also required it. Side note, that local credit union was *amazing* and even offered loss of life policy (many do not and I double checked when shopping for my most recent auto loan). I was only 10 months (if that) into the 60 month auto loan and my mother passed away (she was the primary on the loan because I could not get financed at the time) and they paid off the remainder of the loan on a 35k vehicle, which 8 years ago, I really needed and they did not put up any fight and just covered it. I had one point of contact I worked with the entire time and he was simply amazing. Too bad I had to sell it immediately because we were so deep in debt or I would still have it. I guess you would have to do the math between cost of interest and cost of ins coverage. If it is that big of a gap for insurance, it may just be worth a slightly higher interest rate for the auto loan.

At any renewal if your score has significantly improved I would definitely have them pull it. Some may have a policy that they will only check once a year so ask ahead of time. Yes my friend decided against Affinity. We shall see how it shakes out. But learned Navy has no deductible requirement AOD has a 500 and affinity has a 1000.

@Birdman ouch $500 for AOD? I have a total love/hate relationship with them. I mainly just love their rates and CCs, but they have ridiculous requirements overall.

LaHossBoss wrote: ↑Thu Mar 10, 2022 2:08 am @Birdman ouch $500 for AOD. I have a total/hate relationship with them. I mainly just love their rates and CCs, but they have ridiculous requirements overall.

Yes they do! I’m glad I got the card but I don’t know about anything else, even a CLI if I recall is a whole new application!