$4000 insurance per year ... Why so expensive？

Lug · 03-27-2012, 02:03 PM

There's a rule that says if you use the word expansive in place of the word expensive, the insurance company can expand your payments way way out to like $4k!

twinturbonet · 03-27-2012, 02:14 PM

Lol flaming the guy a bit much? That is pretty damn expensive. I pay 142 a month which adds up to about 1700.00 a yr. This is for a 2011 Nismo RED and I'm 29 yr old male.

TerribleONE · 03-27-2012, 02:37 PM

DarkJak · 03-27-2012, 02:48 PM

Hot damn, that is insane. I had to pay $1900/year and I thought that was expensive. However, this was after my mom had an accident in the G37 that cost $8000 in repairs and got a speeding ticket a few months before that. The way our insurance worked was that it was split between the family.

But I'm 18, and when we got the Z, I'd only been driving 2 years. Plus, we are asian, and we all know the asian stereotype when it comes to driving XD The only thing I had going for me was a perfect record and a good student discount, no driving classes in high school.

And $1900/yr was ridiculous, and we were able to get it down to $1600 a year a few months ago.

The 370z definitely shouldn't be THAT high to insure. I don't think accident rates are as high as a lot of other sports cars in this range, since it's usually sold to more mature drivers. Maybe they feel like they could charge that much due to lack of competition. OR maybe they expect you to wreck in the cold snowy months?

How much coverage do you have though? That could make a huge difference.

UNKNOWN_370 · 05-13-2012, 11:01 PM

Quote:

Originally Posted by DarkJak

Hot damn, that is insane. I had to pay $1900/year and I thought that was expensive. However, this was after my mom had an accident in the G37 that cost $8000 in repairs and got a speeding ticket a few months before that. The way our insurance worked was that it was split between the family.

But I'm 18, and when we got the Z, I'd only been driving 2 years. Plus, we are asian, and we all know the asian stereotype when it comes to driving XD The only thing I had going for me was a perfect record and a good student discount, no driving classes in high school.

And $1900/yr was ridiculous, and we were able to get it down to $1600 a year a few months ago.

The 370z definitely shouldn't be THAT high to insure. I don't think accident rates are as high as a lot of other sports cars in this range, since it's usually sold to more mature drivers. Maybe they feel like they could charge that much due to lack of competition. OR maybe they expect you to wreck in the cold snowy months?

How much coverage do you have though? That could make a huge difference.

Where did you get that demographic from?

According to our forum, 2/3 of all the Z drivers here are under 40 years old. I think you are confusing the Z with a vette?

Elric · 03-27-2012, 03:04 PM

Thanks for the feed back everyone. I need to check at ICBC on the insurance to see what and what is being charged. I only have the basic one 100 I suppose.
My record is all clean no accidents or any claims what so ever. The only ticket I ever got was from one BS parking meter. I paid for parking of course, but didnt see the 'tinniest sticker in the world' covered with dirt says no parking between 3-6pm..

Z_ealot · 03-27-2012, 08:40 PM

damn that is some expensive insurance up there in canada, i only pay $129 a month for full coverage, but then again i have a safe driver and good driver discount applied to my policy

Methodical4u · 03-28-2012, 09:57 AM

Quote:

Originally Posted by Z_ealot

damn that is some expensive insurance up there in canada, i only pay $129 a month for full coverage, but then again i have a safe driver and good driver discount applied to my policy

Are you over 25?

ZMan8 · 03-27-2012, 08:55 PM

If i had to pay that much, i honestly wouldn't get this car.

average ownership period =3-5 years ---> $12,000-20,000 just for insurance + gas = almost a second Z...

theboydiddy · 03-28-2012, 12:25 AM

daammmnnnn kid.
i got two cars under my insurance one of them being a 2012 Z.
i had 5 accidents with my previous car and 1 speeding ticket and i still only pay $2500 a year.... its probably bc you in canada? that place sucks major balls !!!

theboydiddy · 03-28-2012, 12:26 AM

oh. n i got full coverage on both cars as well

Methodical4u · 03-28-2012, 12:40 AM

My Z was 75$ a month. I never had a ticket or accident though... plus being over 30 and married helps a lot.

alcheng · 03-28-2012, 02:06 AM

Quote:

Originally Posted by Elric

Greetings Z community

Some questions regarding on the insurance of my Z.
I live in vancouver B.C. Canada. and my insurance is 4030CA dollars a year ！ when I saw some of you guys down states only have 1000 or even less per year insurance im so comfused

I brought my 09 Z for 25,000CA mid 2011.
It is an accident car which i would assume it has less value？ It is a U.S. car though. the accident is nothing too major. fender.headlight. bumper.

Eventhough I dont get any discount being young driver but my parent has big discounts still could cause them 3050CA to insure it.

could some one give me some ideas to justify this？
4000dollar insurance seems expansive for a 25000 bought car!

Thanks in davance

Hey Elric, you can't compare the price/rate between US and Canada, everything in the State is cheaper than Canada, that's why there're so many Canadian go to shop in the State.

We pay higher price for car, fuel, insurance, parts, labor, almost all the consumer goods are more expensive in Canada than in US.

If you want to have the expense as low as US, sorry bud, unless you move to the State.

Regarding your insurance rate, first of all, how old are you?? No matter how clean your driving record is, your insurance rate is gonna be sky high if you are under 25.

When I was 19, I paid $8000 for an 4 years old Integra that worths less than $4000 and that was some 18 years ago.

"High Risk Pool", you heard about it, right??

Wait til you turn 25 and have a clean driving record, then you can enjoy a much lower rate.

Quote:

Originally Posted by wheee!

ICBC charges what they want.... no competition. Alberta is a little better. I pay $1000 a year for a 2010 with full coverage. No tickets or accidents and 25 years of good driving!

.... my son however pays $13,000 a year to drive a Dodge 1500.....

don't ask...

Come to Ontario, I think the rate in here is even higher because we have a open market and they(insurance company) can set whatever the rate they want and the government won't do anything to regulate it, because higher premium=more taxes.

Elric · 03-28-2012, 11:35 AM

Quote:

Originally Posted by alcheng

Hey Elric, you can't compare the price/rate between US and Canada, everything in the State is cheaper than Canada, that's why there're so many Canadian go to shop in the State.

We pay higher price for car, fuel, insurance, parts, labor, almost all the consumer goods are more expensive in Canada than in US.

If you want to have the expense as low as US, sorry bud, unless you move to the State.

Regarding your insurance rate, first of all, how old are you?? No matter how clean your driving record is, your insurance rate is gonna be sky high if you are under 25.

When I was 19, I paid $8000 for an 4 years old Integra that worths less than $4000 and that was some 18 years ago.

"High Risk Pool", you heard about it, right??

Wait til you turn 25 and have a clean driving record, then you can enjoy a much lower rate.

Come to Ontario, I think the rate in here is even higher because we have a open market and they(insurance company) can set whatever the rate they want and the government won't do anything to regulate it, because higher premium=more taxes.

Thanks for bringing up this idea of being in the "high risk pool". That could really explain it. I drive very carefully and aviod doing stupid stuff. But being five years away from turning 25, I need to bear with it for now and build up my record overtime.

Bonzo · 03-28-2012, 11:54 AM

That's an insane amount of money. That's like if you had a DUI or something insane. Hope you can figure out a way to lower it.

Anyway, here is a thread that will give you a better idea of how much people are paying and how much it varies.

http://www.the370z.com/nissan-370z-g...ighlight=bonzo

03-27-2012, 02:03 PM	#1 (permalink)
Lug A True Z Fanatic Join Date: Dec 2008 Location: Texas Posts: 1,926 Drives: 2006 350Z Rep Power: 20	There's a rule that says if you use the word expansive in place of the word expensive, the insurance company can expand your payments way way out to like $4k! __________________ keep Chubbs in your pocket - Chubbs

03-27-2012, 02:14 PM	#2 (permalink)
twinturbonet Enthusiast Member Join Date: Mar 2012 Location: Miami, FL Age: 42 Posts: 335 Drives: 11' Z #024 - SFZCC Rep Power: 14	Lol flaming the guy a bit much? That is pretty damn expensive. I pay 142 a month which adds up to about 1700.00 a yr. This is for a 2011 Nismo RED and I'm 29 yr old male. __________________

03-27-2012, 02:37 PM	#3 (permalink)
TerribleONE A True Z Fanatic Join Date: Jan 2009 Location: Socal Posts: 10,203 Drives: WOT Rep Power: 5851	__________________ 638WHP 541WTQ @ 13.5PSI Build thread

03-27-2012, 08:55 PM	#9 (permalink)
ZMan8 A True Z Fanatic Join Date: Oct 2011 Location: Chicago, IL Posts: 5,844 Drives: 10 370z 40th M6 Rep Power: 659	If i had to pay that much, i honestly wouldn't get this car. average ownership period =3-5 years ---> $12,000-20,000 just for insurance + gas = almost a second Z... __________________ 2010 370Z 40 Anniv., 6 MT \| Fast Intentions \| Swift Springs \| SPC \| Z1Motorsports \| JWM \| Redline Oils \| 35% Window Tint 2015 Mazda6 \| 370ZChicago: Chicago Area Cars & Coffee

03-28-2012, 11:54 AM	#15 (permalink)
Bonzo Track Member Join Date: Oct 2009 Location: Ohio Posts: 690 Drives: Finally, a 370Z!!! Rep Power: 3372	Wow, insane. That's an insane amount of money. That's like if you had a DUI or something insane. Hope you can figure out a way to lower it. Anyway, here is a thread that will give you a better idea of how much people are paying and how much it varies. http://www.the370z.com/nissan-370z-g...ighlight=bonzo __________________ Finally Able To Order 2012 Model 8/24/2011 Delivered Tuesday November 15, 9:57 am!!! 2012, Auto, White, Sport, Kick Plates

03-27-2012, 02:48 PM	#4 (permalink)
DarkJak A True Z Fanatic Join Date: Jun 2011 Location: Madison, WI Posts: 1,397 Drives: 2009 370Z Rep Power: 16805	Hot damn, that is insane. I had to pay $1900/year and I thought that was expensive. However, this was after my mom had an accident in the G37 that cost $8000 in repairs and got a speeding ticket a few months before that. The way our insurance worked was that it was split between the family. But I'm 18, and when we got the Z, I'd only been driving 2 years. Plus, we are asian, and we all know the asian stereotype when it comes to driving XD The only thing I had going for me was a perfect record and a good student discount, no driving classes in high school. And $1900/yr was ridiculous, and we were able to get it down to $1600 a year a few months ago. The 370z definitely shouldn't be THAT high to insure. I don't think accident rates are as high as a lot of other sports cars in this range, since it's usually sold to more mature drivers. Maybe they feel like they could charge that much due to lack of competition. OR maybe they expect you to wreck in the cold snowy months? How much coverage do you have though? That could make a huge difference.

03-27-2012, 03:04 PM	#6 (permalink)
Elric Base Member Join Date: Aug 2011 Location: Vancouver, B.C. Canada Posts: 35 Drives: 09 Nissan 370Z MB M6 Rep Power: 14	Thanks for the feed back everyone. I need to check at ICBC on the insurance to see what and what is being charged. I only have the basic one 100 I suppose. My record is all clean no accidents or any claims what so ever. The only ticket I ever got was from one BS parking meter. I paid for parking of course, but didnt see the 'tinniest sticker in the world' covered with dirt says no parking between 3-6pm..

03-27-2012, 08:40 PM	#7 (permalink)
Z_ealot A True Z Fanatic Join Date: Sep 2010 Location: Albuquerque, NM Posts: 2,045 Drives: 09 370Z Touring/Sprt Rep Power: 10091	damn that is some expensive insurance up there in canada, i only pay $129 a month for full coverage, but then again i have a safe driver and good driver discount applied to my policy

03-28-2012, 12:25 AM	#10 (permalink)
theboydiddy Track Member Join Date: Mar 2012 Location: New York City Posts: 938 Drives: 370z Pearl White Rep Power: 15	daammmnnnn kid. i got two cars under my insurance one of them being a 2012 Z. i had 5 accidents with my previous car and 1 speeding ticket and i still only pay $2500 a year.... its probably bc you in canada? that place sucks major balls !!!

03-28-2012, 12:26 AM	#11 (permalink)
theboydiddy Track Member Join Date: Mar 2012 Location: New York City Posts: 938 Drives: 370z Pearl White Rep Power: 15	oh. n i got full coverage on both cars as well

03-28-2012, 12:40 AM	#12 (permalink)
Methodical4u A True Z Fanatic Join Date: Jun 2011 Location: Maryland Posts: 1,393 Drives: 11 370 6mt pw w/sp Rep Power: 17	My Z was 75$ a month. I never had a ticket or accident though... plus being over 30 and married helps a lot.

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