Official Insurance Premium Discussion Thread

[The Weapon]

Originally Posted by ChrisSlicks

The biggest deciding factors are (in order):

- Age
- Driving record
- Where you live
- Marital status (in some states)
- Multi-vehicle discount

I'm married, mid-30's and added the Z to my policy for around $80 in MA which is a fairly high insurance state, similar to CA. I was quoted by another company at around $65 a month but it wasn't worth the switch at the time. In MA violations and accidents stay on your record for 5 years.

Actually the biggest deciding factor is your coverage. I could pay $89.00 for minimum state required coverage or $500 for $1million coverage with no deduct.

[Matt]

Originally Posted by The Weapon

Actually the biggest deciding factor is your coverage. I could pay $89.00 for minimum state required coverage or $500 for $1million coverage with no deduct.

I agree with coverage/deductibles being the biggest factor in your insurance premium, but the weight of each factor is going to depend on the insured person.

For me and Progressive, getting married is the biggest reduction in premium. I can move up to a big V8, or down to a 3 door/4 cylinder hybrid, and my premium changes very little. Getting married cuts it almost 40%!

[StLRedrider]

there are several threads on this topic already

[Modshack]

A lot of it is the car and he typical high risk driver that buys it (plenty of examples here on the forum unfortunately). Believe it or not my rates are $500 higher (double to $1000/yr) than the 2008 Corvette (more expensive, lots more horsepower) that I sold for the Z. I'm old too...Thanks guys....

[themann1984]

I pay about $400 for 6 months. That's with 500/500 BI, 300,000 PD, full PIP (I live in a no-fault state), $1,000 collision deductible, and a $500 comprehensive deductible.

I'm 25, single, clean record, no accidents, one car, one operator, no multiple policies, and perfect credit.

I used to be an actuary for one of the major personal lines insurance companies. Your credit rating is one of the most predictive variables and can make a big difference in your rate. Age, gender, marital status, accident/violation history, and territory, are also pretty significant. However, accident/violation history is usually only run at new business, not on renewals. It is too expensive to run it every renewal. Also, if you have multiple cars, drivers, and another home, condo, or renters policy can also reduce your rate. It is also a good idea to purchase the insurance at least 7 days before you need the coverage. That can get you a discount, too.

The good hands company has an underpriced new car discount that diminishes year after year. It starts at about a 20% discount.... ;-)

[gauchowr]

I searched "insurance" and "what are you guys paying for insurance" and got a bunch of topics that were not related.

Anyhow, the insurance thing is just ridiculous. I have one accident in the past three years, I am 26, have a degree, and am single. Maybe its because I live in LA. I even put my parents address and it is still just as high. Today is not the day...

[themann1984]

By the way, there is no such thing as "high-balling". All insurance rates are computer generated according to exact rates, rating factors, and processes as filed with your state department of insurance. Someone else with your exact risk characteristics, time of purchase, and vehicle will be charged the same rates.

[StLRedrider]

i am looking at my premium statement that came in yesturday and i'm paying $393.12 every 6 months

[ConchZ2]

Geico..............the best rates.


$400.00/year.........I own several cars, so I get a multi-car discount.
Clean driving record...as least in Connecticut!


GEICO | GEICO Car Insurance. Get auto insurance quotes online and save today. Free motorcycle quotes as well.

[kannibul]

Originally Posted by ConchZ2

Geico..............the best rates.


$400.00/year.........I own several cars, so I get a multi-car discount.
Clean driving record...as least in Connecticut!


GEICO | GEICO Car Insurance. Get auto insurance quotes online and save today. Free motorcycle quotes as well.

Geico also gives discounts due to memberships to organizations that you aren't part of.

When I pointed it out, they "adjusted" my rate, to where it was only $2/mo less than what I was going to be paying with my previous insurance carrier.

I cancelled the policy and switched back the same day it took effect...

[mdbrich]

1

[jookiyaya]

age: 25
male

working for state farm insurance.

6 month premium for me is 357 and change, breaks down to 60ish a month. its not that bad, i actually switched from geico to state farm.
just cuz i work for state farm? no. geico had quoted me in the 600 range.


driving 370z touring with full coverage with MD insurance... now i hear CALI has double the 6 mo premium which im well aware of, and unisured motorist equations and what not...

comp and collision at 200 and 250 deductible
25k liability /50k aggregate.

lets see... all the coverages...
if you guys have any questions about car insurance let me know =)

[M1K3]

age: 18
Male
Clean driving record..though not a real long one. i pay 200 a month with full coverage through nationwide and 1000 deductibles. Not the best but for being 18 with a sports car on my own policy i can deal with it.

[Slynky]

What a lot of people are leaving out is where the car is insured. Which, as I understand it, makes a heck of a difference.

A car in Bent Penis, Nebraska, is going to cost you a lot less than one in LA, for instance. (an extreme example, I know but to make the point... )

[khtso]

Check out wawanesa insurance (wawanesa.com). My Nissan salesperson actually recommended it as did a few friends. I'm getting better rates than anywhere else and in fact when I canceled Progressive, the lady asked what i was going to use and was like, ah, yeah, they're a great company. I'm in LA (28, single, no accidents, etc) and I'm like 110 a month i believe for a pretty extensive coverage.