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laynlow 06-25-2012 05:01 PM

Insurance Question
 
Hello All!

I'm new to the forum and I'm really looking forward to picking up my 2012 SRT8 tomorrow morning. I've admired these since they've been around but, always had something else get in the way of taking the leap.
I'm sure I'll be asking many questions about mod's and anything else I can think of. My first question is insurance. . . how shocked am I going to be?
Believe it our not, we picked up a new 2012 Overland Summit for my wife on Saturday (LOVE IT!!) and our insurance dropped from our 2010 Toyota Platinum.
Hopefully, it won't be to bad.

Any insite would be appreciated.

Thanks!

robtminor 06-25-2012 05:54 PM

Re: Insurance Question
 
I have 5.7 Hemi in a 2011 and insurance was the same as my 2004 Liberty with a 3.7 liter six.

Slckevin 06-25-2012 06:01 PM

Re: Insurance Question
 
Well insurance is a huge variable with lots of factors going into it. Me personally a Jeep SRT8 will not change my policy by any means (actually it lowers it by $1.12 every 6months if I would trade in my 2011 Overland). I pay about $70 a month for full coverage. I am younger (27) with no traffic violations with multiple policies (other car, home, valuables) with this company

Man this is giving me even less reasons why I should not be ordering s SRT… hopefully I get to place an order for a 2014 next year.

rich mac 06-25-2012 09:08 PM

Re: Insurance Question
 
The insurance cost on my '11 Overland is a little more than it was on my '05 Liberty (went from 2wd to 4wd). But if you can afford a '12 Overland and SRT why are you concerned about the cost of insurance?

Knightrider03m 06-25-2012 09:55 PM

Re: Insurance Question
 
I was looking at the old WK1 HEMI and the WK1 SRT when I got the rates. However, my insurance rated the 5.7L and the 6.1L the same and the rate went up only about a few dollars (I'm guessing due to the SRT costing more)

Not sure if its the same thing with the 6.4L though.

mTBrunner83 06-25-2012 10:33 PM

Re: Insurance Question
 
My insurance just went up this month by 7 bucks each month. There are so many variables to consider. Newer vehicles are typically a lower claim to start. Remember it is based upon your age, gender (not sure why this is the case) the number of claims made on the vehicles (counting break-ins, vandalism, and theft) for that period (if you do six months payments it will be every six months), what coverage you opted to choose, the number of rentals claimed for that vehicle for repair, and of course the accident vehicle type to age range ratio. (So if you have a midsize SUV and you are a female between the age of 18-25 and there is a 6% increase in the number of claims for midsize suvs in your area (primarily done by zipcode, but can be city) for your age range then your insurance will go up a few cents on that alone). So yeah... I think they make this complicated on purpose. Typically a larger engine is not much more and often less as theft is the number one driver of insurance policy increase, next to accidents of course.

FAUEE 06-25-2012 11:20 PM

Re: Insurance Question
 
Quote:

Originally Posted by mTBrunner83 (Post 648139)
Typically a larger engine is not much more and often less as theft is the number one driver of insurance policy increase, next to accidents of course.

You can look at the breakdown of costs of your insurance to see this is not the case. Look at your medical coverage, then your comprehensive and collision. Unless you've got a few accidents already, it will be hugely lower.

The biggest cost in insurance is medical coverage, any of these vehicles can be replaced for 50k, give or take 20k. Medical bills can run into the 100k+ range easy. So having a safer vehicle that is less likely to be driven aggressively is the largest impact to insurance costs.

That said, the SRT8s have previously tended to fare rather well for insurance compared to other performance vehicles. It's likely due to the cost, size, poor fuel economy, and general "SUVs can't be fast" ignorance from your average boy racer with a trust fund. So I don't think you'll be shocked to the point of regret, but it will be a bit more than your normal models will.

Just pray that the insurance companies don't lump your rates in with the rates on WK1 SRT8s as their prices continue to plummet and more boy racers buy them and wreck them and injure people.

mTBrunner83 06-25-2012 11:34 PM

Re: Insurance Question
 
Ah I knew I forgot something vital. The non-mandatory medical that impacts the mandatory auto. What a country. But yes the medical insurance (primarily medical claims against the driver as stated) is the number one factor. And that is exactly what is happening to me. Fortunately the kids around here want the mustangs. (God bless ford country)

walterhudson 06-25-2012 11:35 PM

Re: Insurance Question
 
Quote:

Originally Posted by rich mac (Post 648095)
The insurance cost on my '11 Overland is a little more than it was on my '05 Liberty (went from 2wd to 4wd). But if you can afford a '12 Overland and SRT why are you concerned about the cost of insurance?

Ditto....next he'll be asking us if he can use regular grade gas to save a few bucks.

mTBrunner83 06-25-2012 11:38 PM

Re: Insurance Question
 
It never hurts to watch your money from all angles. It's how people hold onto more money than others at times.

Pillbucket 06-26-2012 05:32 PM

Re: Insurance Question
 
Kind of a rough crowd in here at times.....:(

I uinderstand the question but do not have an answer directly related to it as I have never priced insurance on an SRT8. Have you contacted your Ins. Co. and gotten quotes? It would be a good idea to shop it around and do some comparing.


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