Official Insurance Premium Discussion Thread

[gsxr750]

Originally Posted by FateAveRun

So I got a quote and wow. You weren't joking when you said it was high. They expected a $600 premium and $500 monthly... I don't even want to put my parents through something like that. I don't understand what you mean about the accident with my dad as the primary. Would the rates triple or something since I'm not the primary individual on the account?

Any accident or ticket, DWI etc that happens to you while you are driving a car under his name or under his insurance policy , will effect your parents insurance rates for up to 4 yrs if anything ever happens and also legally and finacially if anything bad serious injuries or deaths occur. Result , of court judgemnt against you and your parents in serious accident, wage garnishment, leen on any home or property they own.

That is why its best to keep any car children drive, titled in the childs name and also have them buy their own insurance in their own name.

You always here it from the stupid parents that feel their little angel will never get into trouble, but we all know what devils we can turn into once our parents are out of sight. So they never believe their little angel would do anything intentionally wrong behind the wheel of the car and the parents cry the blues later once they face legal issues and finacial costs, due to their little angel.

So it comes down to being an adult and accepting the costs of it, your 20 now and its time to accept full responsibilty, for anything you do , so put everything in your own name or the other option would be to find a dumb older girl friend and put the car in her name, a lot of guys do it once they get a DWI etc. Only problem is that if you break up she can keep the car as it will be titled in her name.

[Rusty]

When you first get insurance. You are on high risk for the first 3 years. After 3yrs without any problems. Your rates go down. If you get married, your rates go down. You get divorced, your rates goes up. Your wife dies, your rates stay the same.

[Nismo89]

Originally Posted by gsxr750

Any accident or ticket, DWI etc that happens to you while you are driving a car under his name or under his insurance policy , will effect your parents insurance rates for up to 4 yrs if anything ever happens and also legally and finacially if anything bad serious injuries or deaths occur. Result , of court judgemnt against you and your parents in serious accident, wage garnishment, leen on any home or property they own.

That is why its best to keep any car children drive, titled in the childs name and also have them buy their own insurance in their own name.

You always here it from the stupid parents that feel their little angel will never get into trouble, but we all know what devils we can turn into once our parents are out of sight. So they never believe their little angel would do anything intentionally wrong behind the wheel of the car and the parents cry the blues later once they face legal issues and finacial costs, due to their little angel.

So it comes down to being an adult and accepting the costs of it, your 20 now and its time to accept full responsibilty, for anything you do , so put everything in your own name or the other option would be to find a dumb older girl friend and put the car in her name, a lot of guys do it once they get a DWI etc. Only problem is that if you break up she can keep the car as it will be titled in her name.

Amen to the bolded! when i got my first car, i had to have a co-signer (no credit established, no creit lines, no nothing) now? when i bought my Z had a line of credit established, but only 1.... the woman told me " normally you need 3-4 lines of credit established in order for the companies to take you seriously...so in the future....and for future reference..... just get 3-4 lines ...you dont have to use them, just have them. and that counts as a line"

after buying my Z (3 months after) i got a letter saying basically " we've reviewed your policy, and due to your safe driving, we have lowered your rate $300 to $877 a year for full coverage"

start building your credit now and KEEP ONTOP OF IT! thats how i got my Z! lol

[FateAveRun]

Originally Posted by gsxr750

Any accident or ticket, DWI etc that happens to you while you are driving a car under his name or under his insurance policy , will effect your parents insurance rates for up to 4 yrs if anything ever happens and also legally and finacially if anything bad serious injuries or deaths occur. Result , of court judgemnt against you and your parents in serious accident, wage garnishment, leen on any home or property they own.

That is why its best to keep any car children drive, titled in the childs name and also have them buy their own insurance in their own name.

You always here it from the stupid parents that feel their little angel will never get into trouble, but we all know what devils we can turn into once our parents are out of sight. So they never believe their little angel would do anything intentionally wrong behind the wheel of the car and the parents cry the blues later once they face legal issues and finacial costs, due to their little angel.

So it comes down to being an adult and accepting the costs of it, your 20 now and its time to accept full responsibilty, for anything you do , so put everything in your own name or the other option would be to find a dumb older girl friend and put the car in her name, a lot of guys do it once they get a DWI etc. Only problem is that if you break up she can keep the car as it will be titled in her name.

I'm not gonna get a Z anytime soon... I definetly don't want my parents to take responsibility for my stupid mistakes. I guess I should wait 2 years and turn 21 then get my Z with my own money. Thanks for your post though. It really opened my eyes to how selfish I was being; car's not worth my parent's financial stability. Thanks everyone for your posts! It was very encouraging yet depressing knowing that your payment amounts yearly is equaled to my monthly