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im so mad.. car insurance..


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#1 of 23 OFFLINE   Jimi C

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Posted December 09 2004 - 08:26 AM

Well.. i was getting ready to put my 92' ford aerostar out of its misery.. Im 20 and i make around $300 a week. More then most of my friends my age. I have been spending around $200 a month on repairs and decided that it was silly when i could just go out and by a new used car for only a few bucks more a month.. man was i wrong.
I was looking at gm buy power.com and found a good price on a 02' monte carlo, $12,000. I estimated payments around $300 a month. I can swing that without too much trouble. I figured i would call my insurance agent and get a quote. I knew my insurance would be higher because i would need collision, but i thought with all of the safty features this car had that my 92' ford didnt, it would kind of balance out.
I have 3+ years of driving experience with no accidents, and no tickets..

My insurance would be nearly 3X what i am paying now (its already extremely high). insurance for Jim C on an 02 Monte Carlo, $4,361 a year.

Looks like im driving this aerostar untill the wheels fall off. btw.. i live in Buffalo, this Aerostar is not pretty, its sporting more rust then paint.

oh well..
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#2 of 23 OFFLINE   ChrisMatson

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Posted December 09 2004 - 09:35 AM

Insurance will be cheaper when you hit 25. It will also go down when you get married.

Some questions for you...
What company gave you that quote? (I switched from Allstate to Progressive and saved a significant amount of money.)
How many companies have you looked into?
What level of coverage are you looking for?
Any chance of piggybacking on your parent's policy? (The car would have to be in their name.)

#3 of 23 OFFLINE   Elinor

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Posted December 09 2004 - 09:41 AM

It's also higher (often) for coupes and certainly for "performance" cars (over a certain HP).

#4 of 23 OFFLINE   Paul_Medenwaldt

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Posted December 09 2004 - 09:59 AM

20 years old + Monte Carlo = High Insurance

In 1991 I purchased a 1990 Mustang. I should of found out from my insurance agent how much the insurance would be before getting it. I paid about $60/month for my 81 Buick Skylark. The mustang was $200/month. I ended up taking the car back and getting a 85 Ford Escort. Not much I could do, I had a clean record. If I purchased any sporty type of car the insurance would of been too much.

Wait till your 25 or get married. Then your insurance will go down.

Paul
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#5 of 23 OFFLINE   Jimi C

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Posted December 09 2004 - 10:00 AM

"Some questions for you...
What company gave you that quote? (I switched from Allstate to Progressive and saved a significant amount of money.) "

That quote was from allstate, the girl at the insurance agency said she would check progressive but i told her not to bother..

"What level of coverage are you looking for?"

as little as necessary.

"Any chance of piggybacking on your parent's policy? (The car would have to be in their name.) "

nope.. they wont let me.


"It's also higher (often) for coupes and certainly for "performance" cars (over a certain HP). "

Its a coupe.. i dont know if it is considered a performance car at only 180 hp.
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#6 of 23 OFFLINE   Bryan X

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Posted December 09 2004 - 10:10 AM

You can save a few bucks too by having a high deductible. But like others said, the premium is going to be high until you turn 25 and get married.

#7 of 23 OFFLINE   Jimi C

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Posted December 09 2004 - 12:14 PM

oh well.. ill get over it.. maybe after christmas ill buy myself an sv sub or a new projector with all the money i wont be spending on car insurance. Ive had the van for 3 years.. im going to miss it when i finally do get rid of it.
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#8 of 23 OFFLINE   Malcolm R

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Posted December 09 2004 - 12:30 PM

I would definitely shop around. That seems like an incredibly high quote.

And YMMV regarding the whole "turning 25" deal. I saw no change at age 25 (with a spotless record).
The purpose of an education is to replace an empty mind with an open mind.

#9 of 23 OFFLINE   Jimi C

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Posted December 09 2004 - 12:50 PM

Quote:
And YMMV regarding the whole "turning 25" deal. I saw no change at age 25 (with a spotless record).


My insurance has gone down once since i started driving but the amount was negligible.
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#10 of 23 OFFLINE   Jason Hughes

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Posted December 09 2004 - 01:24 PM

Insurance companies are the biggest crooks on the face of the earth. Period. I know they quote statistics about this and that (you can massage data to have it say what you want it to say), but basically they charge whatever the hell they want and are so far in cahoots with the government nobody will ever do anything about it.

Statistics lie and liers tell statistics. A college stat professor I had put that on the overhead the first day of class.
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#11 of 23 OFFLINE   alan halvorson

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Posted December 09 2004 - 03:02 PM

Quote:
Insurance companies are the biggest crooks on the face of the earth


Double Bullshit! I worked for a small insurance company for 16 years (now dearly departed). Yeah, tell me how much insurance companies are in cahoots with the government. State governments hate insurance companies, they keep, you know, trying to make a profit. Can't let that happen.

Tell me how an insurance company is supposed to price a policy without statistics?

You can't get rich investing in or, especially, working for, an insurance company. If the company I worked for could charge whatever the hell they wanted and get it, they would have and they would still be in business. But they couldn't and when losses got a lot higher than statistics said they should be, they had to sell to a bigger company, which was eventually sold to an even bigger company.

Shop around! Insurance rates vary all over the place. Every company has a different philosophy on rates. One of them just might have one that suits your finances.
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#12 of 23 OFFLINE   Scott L

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Posted December 09 2004 - 03:17 PM

I know some are sick of me whoring this car out but how about a 97-99 Maxima? I bought a 96se manual for $4800 and it's extremely reliable. 190hp/205tq, quiet smooth ride. Insurance should definitely be cheaper too, I pay $100 a month but I just turned 25.

#13 of 23 OFFLINE   Seth_L

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Posted December 09 2004 - 05:47 PM

Maxima = high insurance...

I paid AAA almost $2400 a year for my '02 when I first got it at 22. That was with it on my parents policy with all their discounts. Allstate was the cheapest this time around (when I moved into an apartment). They were less than half of some of the other places I got quotes from. At time time I was 24, and Allstate drops at 24 rather than 25. Even at 24 with a perfect driving record (all the way back to when I was 16) I got insurance quotes that approached $5k a year on a 2 year old car worth $15-18k and that only cost me $25k new. So, yes, insurance is a rip-off.

You just have to shop around for whatever car you have or are looking to buy.

Now I'm 25 and pay just under $1200 a year with Allstate.

btw, I'm not married.

#14 of 23 OFFLINE   Philip_G

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Posted December 09 2004 - 06:12 PM

the drop at 25 is a myth I'm afraid, I'm 26, with a clean record, and still pay around 80 a month for an old car with liability only.

#15 of 23 OFFLINE   Mark Murphy

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Posted December 10 2004 - 01:41 AM

In Massachusetts there is no discount after age 25, but instead after 6 years of experience. We have a "step" rating sytem that starts out at 15 and drops a point per year for every year with a clean driving record. The best rating is a step 9 (which is what I have). If you aquire traffic violations, accidents, etc. it adds points to your step rating. I have friends who are nearing 30 that are still trying to get their step ratings down to a respectable level from when we were in high school and college. A step 9 rating. w/complete full coverage on a '98 Taurus is around $700/yr for me.

#16 of 23 OFFLINE   Philip_G

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Posted December 10 2004 - 04:06 AM

Quote:
'98 Taurus is around $700/yr for me.

Posted Image

I'm paying over 800 for state minimum liability on a 1990 audi.

#17 of 23 OFFLINE   Seth_L

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Posted December 10 2004 - 05:03 AM

Quote:
the drop at 25 is a myth I'm afraid, I'm 26, with a clean record, and still pay around 80 a month for an old car with liability only.

It depends on your driving record, marital status, state you live in, insurance carrier and what you drive.

If you drive a hunk of junk without very little coverage you may not get a drop at 25 because you were already at the low end of the pricing spectrum.

I know in Michigan, most carriers drop their prices at 25.

#18 of 23 OFFLINE   Kirk Gunn

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Posted December 10 2004 - 05:10 AM

Couple points:

1 - The Aerostar is probably paid off - correct ? So you are only carrying the minimum liability coverrage ?

2 - You would be financing the Monte, so you'd need "full" coverrage.

Option 2 will always be much more expensive, no matter what age group. I had 2 cars on a policy that we had minimum coverrage on, then dropped them and added on a new, financed vehicle. Our rates more than doubled, but so was the risk I was expecting the insurance company to assume.

#19 of 23 OFFLINE   Carl Johnson

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Posted December 10 2004 - 05:19 AM

You should definitely check with progressive.com . A few years ago despite the fact that I had a horrible driving record (two tickets, two accidents, and a conviction for leaving the scene of an accident) they saved me $100 a month vs what Allstate was going to charge.

#20 of 23 OFFLINE   JeremySt

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Posted December 10 2004 - 12:29 PM

Im 26 and drive a 2001 VW 1.8T Golf. I just checked into getting a 2001 Audi 1.8T A4. Insurance is double.

Quote:
I'm paying over 800 for state minimum liability on a 1990 audi.

Audis must be expensive. The A4 is twice as safe as the VW, yet its more expensive to insure. My insurance on the VW was like $350 for every 6 months. The Audi is about $700 for the same coverage.


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