Buying a z. Sky high insurance???
 

Hi.

I am about to purchase an 09 monterey blue z, auto with nav. Dealer is paying off my murano and i am getting a fair price on the z so i'm nearly in business. I hav owned an older slk in the past and that car wasnt bad as far as insurance cost went (much less expensive sports car) so i was a little shocked to find my insurance quote go up well over $100 per month coming from an 07 murano to the z???

Not sure what to make of this. I have a speeding ticket from over a year ago but nothing major other than a fendr bender.

lots of expensive shiz to replace on the Z...take a look at headlight cost.

Then look at the demographic and the number of cars totaled. It's a brutal car to insure.

My insurance got cut in half moving to a car with nearly 100 hp more :ugh2:

My insurance is dirt cheap! Only $200/yr more than my POS 2005 Pontiac G6 GT. I was shocked at how reasonable the price was when I called for the quote.

So how much is expensive? My 11 touring roadster is just under 100.00/month for insurance.....

23 years old when I insured the Z. One speeding ticket no accidents and I was paying about 180/month. I have now switched to Geico and pay $212/month for full coverage on my Z and a brand new leased Versa. So the Z is not expensive to insure no matter how many are wrecked and how expensive they cost to fix... Oh and if you did not notice I live in NY

It's all relative. I paid ~200 a month near DC for the z and wrx, about an even split. Had good coverages (300k/300k/100k+ 1m umbrella), $250 deductibles , but my wife has quite the record of tickets :eek:

Moving the Z to Alabama forced me to separate them, pay $105 a month with geico on the z. With anyone else, it was $200+ per month.


There have been three risk-based rate adjustments since last november, and another planned for q4. It will be interesting to see if the risk rates stabilize.

$57 a month, State Farm, full coverage, $500 deductible.

When I first bought my Z in 2009 I paid $95/mo for full coverage, $1m policy. Then they started wrecking them and I kept getting vehicle risk adjustments all the way up to $130/mo.

With the 5.0 I'm back below $100/mo for the same policy. So yes, the Z is going to be a little more expensive to insure.

I'm not going to bust out my policy and give you exact amounts but when you lease a car you need to raise all your coverage amounts for both cars. So I'm covered pretty well.

financing the car geico quoted me at over 1900??? must be some kind of mistake will call and find out for sure tomorrow

My '10 ZR was about $60 less per year than my '03 WRX.

if my wife went through geico without me on the policy, the Z would be $3500 a year to insure:ugh2:

There's something about you that looks high risk to them, at least that is what it sounds like.

my 08 135i that I have now was $700 less to insure for the year.... I couldnt believe that.. One is a 2 door sports car one is a coupe... I guess thats why but it was a significant drop...

I have allstate, have homeowners with them as well..

I'm paying $150 a month after an accident. My Z had been totalled in may. I was paying $120 a month. I renew in 2 months. Let's see what happens then?

I'm way over everyone on here. $300/month hy state and thats after raising my collision deductible to 1000. I will be finding a new insurance company tomorrow

If you have a spotless driving record with some decent history (i.e. you're not 21 years old) then you should be able to insure a Z for under $100/month. If you feel confident you wont be involved in any accidents then just strip your plan to the bone. Insurance companies love to tack on things like road side assistance, rental car coverage, etc etc, things you may already have with the dealer or AAA. They also always put you at $500 deductible when you could push it to $1000. Then theres the bodily/property damage values which they tend to put at the absolute maximum of 100k/300k. You can usually request as low as 25k. Finally there are things like UNDERinsured motorist coverage. Do not confuse this with UNinsured coverage which is required. Underinsured just means your insurance company will help pay for any damages that their insurance company doesnt, but good luck getting them to actually do it.

I had really stressed to my last insurance rep that I wanted a 100% barebones plan, the absolute minimum legally required for me to drive this car. They lied and left a lot of those things in there. What you need to do is ask them 1 by 1, what exactly you are paying for, and then before they go to the next item, ask them "WHAT IS THE MINIMUM I CAN PAY FOR THAT OPTION, AND IS IT EVEN REQUIRED????". The items I listed above are probably all you need to concern yourself with, but you never know what other garbage they might tack on there. My bill instantly dropped $45/month after making those adjustments.

^ that's a really dangerous idea if you have any assets besides the car.

Very.

Insurance cost depends on the person. With the Z under my dad's name, it costs $75/month. If I were to put it under my name, it would have been $200/month

Could you elaborate?

I think they are referring to any potential liability claims, IE you are taking your girlfriend for a ride, run a red light, get t-boned, she gets injured significantly. Most medical on car insurance would be about 25k, but then the girlfriends medical bills would be 200k, which her family could sue your insurance to cover. If you get that liability too low, then when they run out of insurance coverage, your personal assets will be sold to cover the difference. The insurance company won't start paying out of the bodily/property portion without a lawsuit, once the lawsuit is started then you are liable for the judgement whatever it is. If the judgement is 500000, and you only had 50,000 in coverage, then you owe 450,000 out of pocket.

Thats the basic idea of what they are saying I believe.

Not going to read the long posts :icon17:

OP you should shop around, you can find a better rate

Ah ok that makes sense. I guess the way I see it, even the 100k coverage could still be a drop in the bucket for any kind of damage, and being on the hook for half a million or a quarter million would still leave me screwed, so I might as well declare bankruptcy if someone sues me for everything I've got, which is pretty much the Z and a flat screen TV :)

I had to agree to a higher rate to get them not to carry any negative equity from my trade in. What this does is keeps my actual financed amount closer to what the car's worth. As a result, I can then simply refinance and get a loan to cover the car at a respectable rate. At least I hope it works out this way, unless they had me sign some sort of non-refinance clause or something heh.

Bankruptcy laws were changed 1-2 years ago, which most changes will carry over most debt even after bankruptcy is declared.

I think if you file Chapter 7 they will not be discharged, but Chapter 13 will discharge them. Could be wrong though.

Yeah, I am still not 100% on all the changes and what does what now.

Regardless, declaring bankruptcy is not a good strategy.

RunNGun: If you don't carry high liability limits, you put your other assets at risk. Guys that don't have much are "collection proof", and it's hard to find a lawyer to go after them on a contingency basis.


With current liability laws, 300k is a pretty safe limit. It's rare that you are found fully at fault for anything, and you can only be ordered to pay a percentage of the judgement value based on how much was your fault (ie, 500k judgement, 50% your fault, you pay 250k). I play it a little extra safe by adding a 1M umbrella on top--because the world is a crazy place, and you never know what may happen...and it's not worth mortgaging your future to save $25 a month.

:iagree:

Thanks for the insight, I'll have to consider it. I think a million is a bit extreme, just because I cant really imagine causing that kind of medical/physical damage to anything whatsoever, and even if a judgement was allotted for 1M dollars I'm not too confident any car insurance company would pay that much anyway, so it kinda seems like money wasted on my part.

I have 1,000,000 in liability and pretty much tops in most others areas.. the price difference was not that significant at all and I know that anything that happens, (god for bid) I will have insurance to cover it... I don't recommend skimping in areas that could save your *** 10 fold later down the line...

if its a weekend cruiser and you drive very responsibly than MAYBE think about a bare bones policy but any other way I would get at least the middle of the road policy.

My Z went from $100 a month full coverage to $125 after my accident. I renew in a month. Legts see if it stays or gets worse???

:ugh2:

ok, so I have 2 claims and 2 tickets over the last 3 years, so I expect to pay more. But over $300 per month with geico seems excessive to me. And geico is the cheapest in ny state. I just don't understand how my insurance premium can more than double going from a $24k '07 Murano to a $30k '09 z?

Look no further than the first reply.

High risk vehicle with expensive parts. All the reasoning that is needed.

I live in NY and my insurance went from $1,360/6mo on my 2010 370z to $1,009 on my CPO 2008 335xi coupe. The Z is quite expensive to insure

so thats about spot on with what mine dropped to jeff .... about 700 a year less to insure the bmw

yea its nice. I'm 23 btw. How on earth does red6spd insure his versa and Z for 200 more than i pay per 6 months for my 335. That doesn't make any sense. I'm 23 as well, have geico as well, have no tickets or accidents, live on long island, and i paid that much just to insure my Z.

You probably don't have bare minimum coverage, do you?

well according to the premium listed on esurances website for me it totals out to 747.59 for middle of the road full coverage, but thanks to this thread i noticed that i am actually paying more per month to them then what my total premium devides up into. They are billing me at $150.40 a month when my premium comes out to $124.60 per month so i sent them a nice e-mail tonight to let them know that i am on to their little game there lol.