Insurance Question

Kingpin1320

Hey everyone.

Im new to this site but I have some pretty good knowledge on this subject. My dad owns an insurance company. Anyway, There are a lot of things that go into your insurance quotes, your age, driving history, what kind of car you have, what kind of insurance you want (full coverage, or liability only) etc. Most car insurance companies give you a large break on your 21st birthday so if your 21 or older, your insurance will be lower. Your next big break will be on your 26th birthday. If you have a bad driving record then you will be considered high risk, that will effect it as well. Every car has an insurance rating which determines how high your insurance will be, unfortunately for us, our car is rated higher than a Z06 corvette for the fact that most people that drive this car are younger people as apposed to the corvette, who's owners are generally older.

If you have a clean record, 21 years old, and want full coverage then a good cost should be between 1000-1400 depending on what insurance company you go through.

Not saying most of you didn't already know this but just to clarify in case anyone didn't know some of the factors they take in to consideration.

Nismo89

im 21, turning 22 in May (17th) and looking for the absolute best rate so far... clean drving record, no arrests, credit score somewhere between 750 to low 800's.... i drive to and from work 4-5 days a week (15 miles one way, so 30 miles around trip) exc..
-21st century qouted me with " Your 6-month quote is just $1044.64"
-Progressive qouted me with "
Your 6-month policy premium is $591.00 if paid in full or monthly payments of $114.19/month"
-Geico sent me a qoute again today with.. " $725.60 for 6 months of coverage"

Kingpin1320

Some companies are obviously a lot better than others and it also depends on where you live. Where I'm from the quotes I gave are about average, possibly a little high but not much. I'd say you found a good deal with progressive either way though.

Nismo89

thats what i was thinking too, course i did that " name your price " option that they have..that noone else seems to have...

Nismo89

hmmm ive been quoted by 5 companies so far, few have been decent (All State and progressive) gonna keep looking

USMCASA

i thought mine was high... i was with farm bureau until it went from $100 a month to $600 a month for 2 tickets. i'm with nationwide now and pay $200 a month. if you have farm bureau i suggest you drop their coverage immediately.

Urbanracer

I run with auto owners for $680 every six months. Includes pretty much all the coverage I can get for the car and a $500 deductable.

ImportConvert

Allstate
My '11 Z06 costs around $200 to insure per month ($180-200, I forget), including free new car replacement within 3 years (someone totals it, I just go pick out a new one), accident forgiveness, comprehensive coverage with $500 deductible, and GAP.

I am 25, have a perfect record, and live in Louisiana, the #1 most expensive state to insure a car in.

Nismo89

alright folks..... i now have enough money to make my down payment that i want to on my Z.... now just saving to make sure i have a nice cushion to fall back on, and not be broke afterwards lol, not to mention having the Insurance to pay for lol in which i another another company quote me at paying 206 or something a month for coverage (everything included)

kenchan

nismo- watch out for those low rate insurance companies because your institution giving you the loan may not accept it.

in the mean time, i suggest you talk with the bank of your choice and give them the info about the car you want, how much loan you will take out, and the insurance policy you are intending to use. they will give you a better idea if you need more coverage or not, etc.

Nismo89

im puttin 15,000 down on it upfront on purchase day (when it comes) right now im just saving to have a nice cushion so im not broke afteri put the money down you know? ive been on the phone all day with insurance companies lol about everything

and oh i know...the qoutes ive been getting .....some (like the progressive one) are really cheap...which makes me wonder if its basic coverage.... or everything included... something tells me its just basic coverage ..which wont do me any good if something happens you see?

Arc

I got a quote from AAA, with no coverage for non auto accidents, no coverage for auto damage, minimum basic coverage, for around $240/6 months. Progressive quoted like $400/6 months with same coverage.
Of course insurance will vary on what you want. I'm leary about paying for insurance for years and getting nothing in return if I never use it.

poorazn

insurance is one of the toughest things to "compare" with others....

I didnt see anyone mention their coverage limits for
Bodily Injury Liability
Property Damage Liability
Uninsured Motorist Bodily Injury
Uninsured Motorist Property Damage

I assume everyone is just carrying the bare state minimums (which also could vary state to state)? I might suspect some of the people who paid cash for their cars and own houses might be carrying higher limits and umbrellas...

Shadax

I feel so screwed right now. I have two minor violations from June and September of 09. One was for speeding, the other for rolling through a red light (which was actually COMPLETE BS, the light was yellow and there was absolutely no traffic, so... just don't judge me haha) and I'm looking at about $400 for insurance on my Z through damn near every company.

Thankfully I only pay a few hundred bucks for rent. But for what it's NOW going to cost me to drive my car I'm having some buyer's remorse. I guess I just have to wait until 2012 and slow the hell down.

Anyone have advice for a 25 year old guy with two marks on his record?

Esurance, Mercury and State Farm quotes so far.

Edit: Interestingly enough, AllState quoted me at a pretty amazing rate. Over a thousand dollars cheaper than my current provider for 6 months. I spoke with an online consultant who informed me that it was accurate based upon the record pulled from my driver's license number. So I guess I'm gonna go with it for now and I'll see what happens lol.

Masa

Wow some of the quotes you guys have up are pretty high

I'm 25, turning 26 this Sept. with Nationwide and it only costs me $558 / 6 months for my '11 Z. Also have a 03' EP3 Civic Si insured and that costs me $419 / 6 months. Comprehensive is $100 and collision is $250 for both cars. I have been with Nationwide since I started driving my first car at 16 so that may play a part in my low rates. Clean record and good credit also help I think. I expect the rates to go down even more when I turn 26!