I have an insurance question for anyone who might have an answer. My insurance is telling me that I have to wait to know how much of a risk the Fit is in order to drop the Fit's policy amount. They said parts aren't readily available for replacement and the driving market for who will be most likely driving it and their risks all need to be included to know how to rate it as a new model. I had a mitsu evo 8 before this car and they are quoting me kinda close to it right now in the fit for those issues I stated above. I have a bad record so going with anyone but progressive is the best I found. Does anyone know how long it takes to build some type of statistic and abundance of factory parts for vehicles that insurance companies can use on new models? I have noticed quite a bit of Fits getting wrecked on FItFReak....

 

1 year at least with AAA

I ran into this last year with my Civic. Happens every time there's a complete change in model or a new model.

Though I have a good record... for example adding the Fit to my policy in addition to the 06 Civic cost me $671/year ($56/mo).

My guess is that it's your record that is giving you the issue and that even if they had 1 year history on Fit repair costs you would still end up around the same rate. For bad drivers it doesn't matter what car you drive although you will see a minor adjustment for repair costs.

Think about it... the insurance company knows that to insure you they are taking a risk... you are most likely going to crash into someone and cost them money not just on the repair cost of your Fit but you're going to cost them money to fix the other person's vehicle.

 

I don't know... but I total my last car. and the insurance company charge me only 2,700 or so for the fit financed 72 months and no downpayment. They even put it as a pleasure car, cause I already have 2 more cars and a motorcycle. so if I divide will be $450 per year.

 

Call and tell your insurance company that the 2007 Fit Sport is an ISO Symbol 12 and to get on with updating your policy; they'll know what you're talking about. ISO is the organization responsible for rating all vehicles for the insurance industry and all companies use the ISO Symbols as the way to rate the vehicle itself. Keep in mind there are other factors that affect your premium like loss history, driving record, age, insurance scores, etc. and it's a combination of all of these that determine your final premium. That having been said however, all other factors remaining equal, if you have them use the correct symbol for your policy and it's lower than the estimated one they're using now, you premium should decrease. Of course, the reverse of this is true also.

In case you're wondering, I'm licensed in all 50 states for property and casulty, and my job is writing/rewriting policies for auto, home, flood, etc. for a major national insurer, so auto insurance is like second nature to me. A while back, there were no ISO symbols out yet for the Fit, but today I checked at work and we had them in the database, so your company should have them as well by now.

 

No problem with insurance and great rates...

 

I'm at $223/6 months with USAA. I have 1K dollar deductibles though for C/C and dropped some of the medical coverages that would overlap my health insurance. My liability coverage is 100/300.

So .... very cheap to insure for me.

 

$592 /12 months 3rd car insured
100/ comp
250 col
no medical
liability 100/300

 

The insight is great, at least I have something to explain to them. I guess I would like to know if anybody else heard this information when they insured their vehicle? Now that there is something we can use to identify it, maybe a lot of us could get lower insurance.

 

What amazed me was our Honda Pilot and Fit both have the same rating... I called to get quotes before I bought my Fit since I thought about looking a few Toyotas. The Toyota didn't rate as well, my insurance would of been a few hundred dollars more. The person I spoke to at the insurance Co said go for the Honda!!! Pretty Cool!!! They knew it had a 12 rating. You may want to give Liberty Mutual a call. There is less than a $10 difference between my Fit and Pilot, very interesting.

 

When i called my insurance company, AAA of So. Cal., the first thing the lady did was asked for my VIN. She immediately knew that i had a Fit Sport in Silver Storm and the MSRP. The primary factor in the cost of isurance when comparing two vehicles is generally the value of the vehicle. My Fit costs slightly less than one of my BMW m/c because that vehicle actually cost more LOL.

I have an excellent record and the annual premium on the FIT is $788 with uninsured motorist (50% of those driving in So. Cal.), $250K/$500K Liability, medical, etc.

 

Actually, this is a myth -- cost is only one small factor used in generating an ISO rating for a vehicle, and often not necessarily the most important. Other things that are also considered are cost to repair, cost of parts, parts availablity, average cost of damage to same vehicles involved in an accident, frequency of the vehicle being involved in an accident, average severity of damage in an accident, frequency of theft (Hondas particularly get nailed hard with this one), performance, engine size and type, body style, transmission type, safety features, and on and on. A good example of how cost isn't a factor really is that the Fit Sport is a symbol 12 and the Scion xB is a symbol 8, which is a major difference even though they are very similar in price.

Another common myth is that color matters -- it doesn't. Some companies may ask for the color, but it's only for record and has no bearing for rating puposes. We don't even bring it up when we quote at my company.

Oh, and for those with Base Fit's, your car is a symbol 11, mainly due to the lesser amount of std. features on the car. Just thought I'd mention that in case you wanted to make sure your car is rated correctly.

 

I went from a 02 Mustang to a Fit and my premiums went up $15 a month. WTF!?!?!?

 

I'm in Montreal and it seems all those companies are the same...

I had a Nissan Murano before the Fit and they wanted to charge me more for the Fit !!! The reason is the same, they have no idea of the risk yet, they actually assume the worst and insure you for it...They take no risk at all.

They told me that after a year they will see how many cars get stolen, how many accidents, basically how many reclamations...Then princing might go up or down.

I reduced my insurance to the minimun and removed some coverage, it felt ridiculous to pay that much insurance for such a small a low price car.