Excessivly High Insurance Rates on ZR2's or Bison's ? - Chevy Colorado & GMC Canyon
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post #1 of 29 (permalink) Old 05-13-2019, 11:05 AM Thread Starter
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Excessivly High Insurance Rates on ZR2's or Bison's ?

I recently received my bill for the annual premium on my new 2019 Diesel Zr2 Bison.


To my shock the premium was double that of my 2016 Diesel 4x4 Colorado.


I have been paying a little over $500 a year for the premiums on my 2016 Diesel Colorado 4x4 LT2 .
The new 2019 Bison premium is over $1000.00 per year.


These two trucks are nearly identical, in that I have done several things aftermarket to my 2016 like the Icon stage 5 suspension and lifting blocks, both trucks have identical black leather interiors, the main differences are in the AEV bumpers and skid plates.
I am thinking in no way can this be right that the stickers, bumpers, and skid plates could possibly justify a premium double that of my 2016 Colorado.


Anyone else with a ZR2 or Bison run into hefty insurance prices?

2019 Colorado Dmax 4x4 White ZR2 Bison
Same wheel and tire combo as the 2016 .
More Mods to come.

2016 Colorado Dmax 4x4 White LT
Mods:
Icon Stage V Suspension , 1" rear lift blocks, Fuel Black Anza 18x8 Rims, Cooper Zeon LTZ AT 285/60/18 tires, Duramax Tuner tune and Trans tune, Black bow ties, Black OEM fender flairs, lighted headache rack, and rails ,Westin tool box

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post #2 of 29 (permalink) Old 05-13-2019, 11:22 AM
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May have to do with replacement value. I have full coverage with the highest limits and and lowest deductibles, it's about $750 for a 17 ZR2. No claims no tickets. When I bought the ZR I had a 2 year old Equinox and rate dropped $200 a year with the ZR, even with it's higher replacement cost.

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post #3 of 29 (permalink) Old 05-13-2019, 11:51 AM
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My insurance remained pretty much the same when I got my ZR2 (switched in late 2017 from a 2011 Kia optima SX). My premium is over $1k but I live in baltimore and drive 24k miles per year. Have also had some speeding tickets in the last few years.

Id say shop around!
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post #4 of 29 (permalink) Old 05-13-2019, 12:09 PM
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I turned in my 18 Hyundai Elantra GT Sport for my 19 ZR2 diesel and my insurance went down. I'd suggest shopping around for insurance.

-Eric

I manage one of the largest Chevrolet dealerships in the country. If you're having problems with a dealer or have a question about something, I'd be happy to help.
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post #5 of 29 (permalink) Old 05-13-2019, 12:40 PM
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My insurance rate for my two Colorados, one ZR2 and one Z71, (one year age difference) are with in about 20 dollars of each other.
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post #6 of 29 (permalink) Old 05-13-2019, 12:44 PM
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Damn. I wont even post what I pay on my '18 Z71. Clean record and 33.
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post #7 of 29 (permalink) Old 05-13-2019, 12:49 PM
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Quote:
Originally Posted by CC1999 View Post
I recently received my bill for the annual premium on my new 2019 Diesel Zr2 Bison.


To my shock the premium was double that of my 2016 Diesel 4x4 Colorado.


I have been paying a little over $500 a year for the premiums on my 2016 Diesel Colorado 4x4 LT2 .
The new 2019 Bison premium is over $1000.00 per year.


These two trucks are nearly identical, in that I have done several things aftermarket to my 2016 like the Icon stage 5 suspension and lifting blocks, both trucks have identical black leather interiors, the main differences are in the AEV bumpers and skid plates.
I am thinking in no way can this be right that the stickers, bumpers, and skid plates could possibly justify a premium double that of my 2016 Colorado.


Anyone else with a ZR2 or Bison run into hefty insurance prices?
First off the 16 and the new Bison are worlds apart as far as value. Not any where near "Identical" as you mentioned no matter how many aftermarket mods you have thrown at it. Sure it will cost more to insure.

To prevent that shock and hit to your budget maybe next time get a quote from your insurance company prior to purchase. I always do that after when in my early 20's learning that the new Z28 I wanted to buy was going to cost more to insure than the payments...
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Last edited by HenryT; 05-13-2019 at 12:57 PM.
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post #8 of 29 (permalink) Old 05-13-2019, 01:06 PM
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My 2018 Chevrolet ZR2 ($40K value) insurance premium is cheaper than my wife's 2018 Honda HRV ($24K value)......with exact same coverage.

I was pleasantly surprised after I purchased the ZR2 and got the coverage letter.
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post #9 of 29 (permalink) Old 05-13-2019, 01:10 PM
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I had a 2011 Canyon SLT 4x4, when I bought the ZR2 my insurance went down 50 bucks, (old man with no claims)
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post #10 of 29 (permalink) Old 05-13-2019, 01:23 PM
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Quote:
Originally Posted by CC1999 View Post
I recently received my bill for the annual premium on my new 2019 Diesel Zr2 Bison.


To my shock the premium was double that of my 2016 Diesel 4x4 Colorado.


I have been paying a little over $500 a year for the premiums on my 2016 Diesel Colorado 4x4 LT2 .
The new 2019 Bison premium is over $1000.00 per year.
Quote:
Originally Posted by Rangerscott View Post
Damn. I wont even post what I pay on my '18 Z71. Clean record and 33.
Ignoring the change in rates, I suspect that Rangerscott is better insured than the OP. Unless you want to risk filing bankruptcy you probably don't want to have less than $500,000 coverage with a $2,000,000 umbrella. Just putting someone in the hospital for a week or so could easily run up $500,000 of bills.

There's an old piece of nonsense that floats around that you should insure for the amount of your net worth. That is nonsense because unless you have very little net worth (and very little income) the injured party will be looking to get your insurance AND your net worth AND your income. Increasing liability coverage comes at decreasing cost as you go up the scale, so it's not something you want to skimp on.

FWIW, my Colorado LT Duramax coverage is about $150 a year more than our same year Subaru Outback (trim level below Touring--I don't remember the name). Most the difference is personal injury/property damage/comprehensive, so seemingly driver related.
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Last edited by Goodspike; 05-13-2019 at 01:27 PM.
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post #11 of 29 (permalink) Old 05-13-2019, 01:28 PM Thread Starter
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Quote:
Originally Posted by TheMuffinOfEvil View Post
My insurance rate for my two Colorados, one ZR2 and one Z71, (one year age difference) are with in about 20 dollars of each other.
Nice!


Sounds like we own about the same trucks.
I appreciate the info.


I have sent in a request for my agent to look into this.


Years ago something similar happened to me on a 2010 Silverado ext cab long bed (8ft bed ) Z71 with the regular old 5.3L v8.
Nothing all that special, just that long bed triggered a VIN number they didn't have rated so it defaulted to their high rick sports car ratings. LOL


Apparently there is some sort of risk index rating system that insurance companies use to set their premiums.


I am thinking this might be a another one of those odd situations. Where the Bison edition might be showing up in the VIN number somewhere creating an odd digit kicking it to an high risk rating, rather then what it really should be rated as.

2019 Colorado Dmax 4x4 White ZR2 Bison
Same wheel and tire combo as the 2016 .
More Mods to come.

2016 Colorado Dmax 4x4 White LT
Mods:
Icon Stage V Suspension , 1" rear lift blocks, Fuel Black Anza 18x8 Rims, Cooper Zeon LTZ AT 285/60/18 tires, Duramax Tuner tune and Trans tune, Black bow ties, Black OEM fender flairs, lighted headache rack, and rails ,Westin tool box

Other Vehicles
2018 Toyota Land Cruiser
2018 Silverado 1500 LTZ 6.2L 4x4.
2015 RAM 2500 4x4 CTD Laramie
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post #12 of 29 (permalink) Old 05-13-2019, 01:45 PM Thread Starter
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Quote:
Originally Posted by HenryT View Post
First off the 16 and the new Bison are worlds apart as far as value. Not any where near "Identical" as you mentioned no matter how many aftermarket mods you have thrown at it. Sure it will cost more to insure.

To prevent that shock and hit to your budget maybe next time get a quote from your insurance company prior to purchase. I always do that after when in my early 20's learning that the new Z28 I wanted to buy was going to cost more to insure than the payments...

Thanks for the input.
I do have added coverage on the 2016 for it's pricy upgrades.


I mainly only concerned that there is some sort of error on the Bison risk rating.


I do get that their are some differences in them.


For the most part those don't strike me as being just crazy expensive by comparison.
Now I am sure the book values are different in the event of theft or total loss or something like that, but collision repair I am not sure would be all that much different.


Neither are what I would call high performance vehicles. But that rating my Bison must be picking up sure seems like it is being classed as a high performance vehicle or something weird is going on .


I do have other vehicles that are valued much higher then the Bison like my 2018 Land Cruiser, my 2015 RAM 2500 Diesel, however my new Bison is triggering an annual premium several hundred higher then my most expensive vehicles.


It appears based on other post here today, that it is not the Zr2 pkg triggering the problem. I am starting think it must be the Bison pkg. Since their rates are very close to any other Colorado's rates.

2019 Colorado Dmax 4x4 White ZR2 Bison
Same wheel and tire combo as the 2016 .
More Mods to come.

2016 Colorado Dmax 4x4 White LT
Mods:
Icon Stage V Suspension , 1" rear lift blocks, Fuel Black Anza 18x8 Rims, Cooper Zeon LTZ AT 285/60/18 tires, Duramax Tuner tune and Trans tune, Black bow ties, Black OEM fender flairs, lighted headache rack, and rails ,Westin tool box

Other Vehicles
2018 Toyota Land Cruiser
2018 Silverado 1500 LTZ 6.2L 4x4.
2015 RAM 2500 4x4 CTD Laramie
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post #13 of 29 (permalink) Old 05-13-2019, 01:58 PM Thread Starter
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Quote:
Originally Posted by Goodspike View Post
Ignoring the change in rates, I suspect that Rangerscott is better insured than the OP. Unless you want to risk filing bankruptcy you probably don't want to have less than $500,000 coverage with a $2,000,000 umbrella. Just putting someone in the hospital for a week or so could easily run up $500,000 of bills.

There's an old piece of nonsense that floats around that you should insure for the amount of your net worth. That is nonsense because unless you have very little net worth (and very little income) the injured party will be looking to get your insurance AND your net worth AND your income. Increasing liability coverage comes at decreasing cost as you go up the scale, so it's not something you want to skimp on.

FWIW, my Colorado LT Duramax coverage is about $150 a year more than our same year Subaru Outback (trim level below Touring--I don't remember the name). Most the difference is personal injury/property damage/comprehensive, so seemingly driver related.
Thanks for the input.

I do have the max liability coverage of $500K, and a separate 1M umbrella.
I don't however have very low deductibles on comp or collision. I do have those deductible set pretty high at $2500.

No Claims, No tickets, Late 40s.
Is most likely playing some sort of factor for my low rates in general.


After many of these replies it sure seems more and more likely that my insurance company has possibly made a mistake, or their something odd going on with the 2019 Zr2 Bison Vin numbers creating some confusion in the risk rating system.

2019 Colorado Dmax 4x4 White ZR2 Bison
Same wheel and tire combo as the 2016 .
More Mods to come.

2016 Colorado Dmax 4x4 White LT
Mods:
Icon Stage V Suspension , 1" rear lift blocks, Fuel Black Anza 18x8 Rims, Cooper Zeon LTZ AT 285/60/18 tires, Duramax Tuner tune and Trans tune, Black bow ties, Black OEM fender flairs, lighted headache rack, and rails ,Westin tool box

Other Vehicles
2018 Toyota Land Cruiser
2018 Silverado 1500 LTZ 6.2L 4x4.
2015 RAM 2500 4x4 CTD Laramie

Last edited by CC1999; 05-13-2019 at 02:07 PM.
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post #14 of 29 (permalink) Old 05-13-2019, 02:27 PM
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Going from an '18 Gas ZR2 to a '19 Diesel ZR2 Bison, my insurance went up about $300.00 a year, my guess for me is that there was a 10K difference in price. Your 16 depreciated, so I think someone hit a main part of replacement value.

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post #15 of 29 (permalink) Old 05-13-2019, 02:27 PM
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You haven't mentioned what insurance company you have, for reference. We were with State Farm for roughly 10 years and over time the rates slowly crept up for no apparent reason. I finally got fed up towards the end of 2017 and switched to Progressive (I had them before and was happy with their service but State Farm ended up having lower premiums when we switched to them), our premiums dropped a crazy amount for the same coverage. In fact, our premiums dropped at of the most recent renewal period. State Farm never did that, only raised rates.

Currently paying $700/yr for my Denali, FWIW. Like credit scores and location, which do impact rates, everyone is different so can't really compare but it definitely sounds like your insurance company/underwriters screwed up.

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post #16 of 29 (permalink) Old 05-13-2019, 02:28 PM
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2019 ZR2 CC V6. Zero claims in my life and I have a 40% discount... Renewed my insurance on Friday last week.

$2,506.72 total after taxes for the year.... :O

$2 million liability / $500.00 deduct

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post #17 of 29 (permalink) Old 05-13-2019, 02:30 PM
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Originally Posted by Zara2 View Post
2019 ZR2 CC V6. Zero claims in my life and I have a 40% discount... Renewed my insurance on Friday last week.

$2,506.72 total after taxes for the year.... :O

$2 million liability / $500.00 deduct
Oof, where do you live? Jersey? Maryland?

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post #18 of 29 (permalink) Old 05-13-2019, 02:31 PM
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Originally Posted by CC1999 View Post
I am thinking this might be a another one of those odd situations. Where the Bison edition might be showing up in the VIN number somewhere creating an odd digit kicking it to an high risk rating, rather then what it really should be rated as.
Maybe accidents involving off-roading that they claim is from something else?

On my driver comment above, maybe it it vehicle related. The visibility out of the Colorado is horrible, particularly on the passenger side, and the mirrors suck. Not a good combination.
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post #19 of 29 (permalink) Old 05-13-2019, 02:37 PM
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Thanks for the input.

I do have the max liability coverage of $500K, and a separate 1M umbrella.
I don't however have very low deductibles on comp or collision. I do have those deductible set pretty high at $2500. .
High deductibles are a fine strategy--as long as you have the funds.
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post #20 of 29 (permalink) Old 05-13-2019, 02:46 PM
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Oof, where do you live? Jersey? Maryland?
British Columbia, Canada. Governed under the wonderful ICBC that insures our entire province.

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