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Discussion Starter · #1 ·
We just got the new insuance rates for our 2012 Equinox LTZ that we got after trading back our 2011 Equinox 2LT and I was bummed to see that the rates had jumped $123/year! Of course I questioned our agent hoping it was a mistake, but she told me it was the correct rate. The sticker price on this was $200 higher than the 2011 since we opted not to get the Nav system that we had nothing but trouble with in the 2011, which is how we ended up with 2012, but thats another story.. Her explanation was that the rate is base on symbols, ratings, cost to repair, etc. and the 2011 was a symbol 17 and the 2012 is a symbol 27! I look at it and the only change I see is Black vs the Mocha we used to have, a different emblem on back (LTZ vs LT), fish eye mirrors, and no navigation. So what has changed on this model year to drive the rate up that much????
 

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deuce said:
So what has changed on this model year to drive the rate up that much????
Possibly they have collected data that shows that the vehicles are involved in a lot of accidents ??? Or, more likely, someone messed up - either this year, or last year.
 

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Discussion Starter · #3 ·
RIT333 said:
Or, more likely, someone messed up - either this year, or last year.
Thats probably exactly the case. Too bad they couldn't have messed up and save me money instead!!
 

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Very interesting. I had a 07 Camry, went to the 10 LT, rate when up about $125. Insurance office says pretty much the same thing... Camry was code '10' and Equinox code '25'.
 

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deuce said:
We just got the new insuance rates for our 2012 Equinox LTZ that we got after trading back our 2011 Equinox 2LT and I was bummed to see that the rates had jumped $123/year! Of course I questioned our agent hoping it was a mistake, but she told me it was the correct rate. The sticker price on this was $200 higher than the 2011 since we opted not to get the Nav system that we had nothing but trouble with in the 2011, which is how we ended up with 2012, but thats another story.. Her explanation was that the rate is base on symbols, ratings, cost to repair, etc. and the 2011 was a symbol 17 and the 2012 is a symbol 27! I look at it and the only change I see is Black vs the Mocha we used to have, a different emblem on back (LTZ vs LT), fish eye mirrors, and no navigation. So what has changed on this model year to drive the rate up that much????
I would say it's because the LTZ is rated as more expensive then the 2lt. You can build a 2lt to be almost exactly like an LTZ but the VIN doesn't show that. Bottom line the LTZ is a higher symbol.
 

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It is not always the quantity of accidents that cause rate increases, but the average cost of the repairs.
 

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The rates (and symbol rating) are affected by many things. One big thing is theft. When a new model comes out (body style) the parts for repair are harder to get (legitimately) so chop shops thrive. Now that most likely should not have caused this bump as the 12 body and 11 bodies are the same (any changes??) so that rate should drop. That is the key -- I have asked after a year or so if the rate has changed in my policy and they often will drop. So that quote may be right this year but different next year. My agent knows me well enough now to where he tells me when the rate changes because of symbol change)
 

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Discussion Starter · #8 ·
Rick Tinley Park said:
The rates (and symbol rating) are affected by many things. One big thing is theft. When a new model comes out (body style) the parts for repair are harder to get (legitimately) so chop shops thrive. Now that most likely should not have caused this bump as the 12 body and 11 bodies are the same (any changes??) so that rate should drop. That is the key -- I have asked after a year or so if the rate has changed in my policy and they often will drop. So that quote may be right this year but different next year.[/color][/color] My agent knows me well enough now to where he tells me when the rate changes because of symbol change)
Great advice, I will be asking my agent the same in a few months as well.
 

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Make sure when you get the bill that all your discounts are included. They mess up on these quite often.
 
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