TA-Swede

iTrader: (4)

Hi guys,

I feel like I'm paying through the nose for my insurance ($350 a month, $2100 for 6months). I've got full coverage and a $500 deductible for comp and coll.

After reading the "What are you paying for insurance" thread, it feels like I'm getting shafted, or missing something here..

About me:
29 years old, Single
Clean driving record, never made an insurance claim
Living in a nice neighborhood in San Diego.

About the car:
2000 T/A, 62K miles

The only thing I can think of that would give me higher rates is that I've only had a license (in the US) for 8 months. (Yes, you can actually get by without a car in europe)

So, is it really the fact that I'm a "new" driver? I would have thought that by being 29, that would sort of cancel that out..

Or is it just that SoCal is insanely expensive, insurance-wise ?

/James

ghardester

I only pay $67 per month for full coverage and $500 deductable. This is how I did it; No tickets for the last 10 years or so, got married again after all the teenagers in my house got their own jobs and insurance, and aged 51 years.

Shooter_Jay

not sure how much you'll save, but you might want to bump your deductable up to 1k or as high as possible, unless of course you plan on causing the accident. Of course if someone else causes the accident you have no deductible.

I've often wondered if you started with a base v6 car and swapped in an ls1 I think the insurance would still be at the v6 rate even when you tell them it has a v8 since they would price by model. Just my theory though, not proven yet.

DBL_TKE

I'm pretty sure that's right. I know a couple guys who do this with motorcycles. They'll buy a 600 and swap in a liter engine.

TA-Swede

iTrader: (4)

Nope, that won't work. At least not with Progressive.

As a matter a fact, I had a V6 Firebird before the T/A, and the rates most definitely went up for me...

Bumping the deductible to $1000 isn't allowed by Wachovia, so I'm SOL there..

Keep the tips coming guys, and for you who already replied, thanks for your help

/James

Sunset01SS

iTrader: (4)

How much do you drive the car?
Regardless, make sure you tell them you only drive 5 miles round trip to work. I have done this for years even though I drive 60 miles every day on my daily driver. Check into having it listed as a pleasure vehicle or secondary vehicle. If you don't have another vehicle buy one w/cheap insurance if you can and make that the primary vehicle on your insurance. Also make sure you have gotten every rate deduction you can; alarm/antitheft, multi-policy discounts, etc.
One last thing... turn 30 as fast as you can! Your rates should definitely drop and if they don't then drop that insurance co. I would give them a call and ask how much your insurance will go down when you turn 30. If they can't tell you anything, switch insurance cos now.
Good luck.

BlackScreaminMachine

iTrader: (17)

I am a Licensed Producer of P&C insurance.

I will say this, many companies, IF NOT ALL, use these rating factors to determine your rate.

Age

Sex

Address (where the vehicle is kept/garaged)

Driving History (including, convictions, at fault, NOT at fault accidents, and years of clean driving history which tends to be the LAST 5 years)

Level of coverage (Carrying higher limits doesnt hurt you)

Consumer Report (includes past claims and credit score info) THIS IS VERY IMPORTANT

Vehicle

Marital Status (married is cheaper)

Annual Milage

Miles one way to work

Whether or not you had previous coverage

Years of experience.


As for your situation.....

1) You do not have previous insurance which is a higher rate
2) Newly licensed
3) Driving as a primary veh a high end "sports" car. On our scale we rate 1 to 25, 1 being the lowest costing to insure and 25 is 100,000$ veh or more. Fbodies are rated 22. its not just the value, its the riskiness of the vehicle
4) Age is a factor but NO prev driving exp matters more. We get women who lost their husbands now getting lic, and we rate them even at age 60 as a new driver
5) You live near San Diego, ive been there its a city, and rates in a city compared to the desert are far different BUT it depends on the company.

I would recommend getting other quotes for a Apples to Apples comparision. Everyone here listing their rates are NOT comparable, about the only thing comparable is they might have a Fbody, the rest is not.

Luder[PAK9]

Yeah, you're getting screwed b/c you're considered a new driver and you've only been with that insurance company for a short time too. Length of driving experience and length of continuous coverage are both factors. Have you tried talking with your ins. co. to see if they can give you a "credit" for the length of time you were licensed in Europe?

BlackScreaminMachine

iTrader: (17)

I wouldnt say he is being "screwed" he is being rated for the factors that he has. Like all companies they are betting whether or not he will have a loss.

As for any prev exp. most US ins co. will not cover drivers that do not have a valid U.S. OR Canadian Driver lic. So most likely he is going to have to suck it up. like I said, call for quotes, that going to give him, his answer.

ALSO he needs to see if he leaves his current company, early, if there is any fees for cancelling early.

PewterScreaminMach

iTrader: (7)

I would get a quote from all the big companies: Geico, AIG, try out Esurance maybe, just to see what they are quoting you. Keep in mind that some companies will offer a low rate to get you in, then jack up the rate at the next billing cycle. I had AIG do this to me not too long ago. I then switched back to Geico and have had a great rate ever since. Remember, just getting a quote doesn't obligate you to take the insurance, so it's worth checking it out.

CranMaro99

iTrader: (10)

I dono man, try different insurance companies? I've never seen even a 16 year old with a ticket pay as much as you.

sundaydriver

Maybe your employer can help. Some company insurers that handle the medical and retirment accounts also will offer the insured companies employees a group rate for auto & home insurance. My companies Credit Union also has another insurer that does the same. Worth checking into.

I did and between auto & home saved ~$750 a year.

JScamaro

iTrader: (6)

I think you are crazy paying $350 a month for insurance for someone who is over 25.

You need to call some other companies and get quotes.

sworaz

iTrader: (13)

If you're married put the insurance under the wife's name and list yourself as the primary driver. Or even your parents. Getting some more quotes is a good idea too.

BlackScreaminMachine

iTrader: (17)

Re read the post, age is a factor but experience matters more if its less then 5 years.

BlackScreaminMachine

iTrader: (17)

Who the NAMED INSURED (owner) doesnt effect rates, he is a P/O now, he will be a P/O when it gets combined. What he will get is a Multi car discount which is a VERY valuable credit.

2000NHRAFormula

i had mine under just me and it was over 1700 a year but i switched it a little bit (told them i was drivin somethin else) and payin for both is just over 1k a year and i am 19 and single with no tickets

ghettosled

buy a beater, have that insured as your primary car and insure the T/A as a pleasure/nice weekend driver.

TUFAS4U

iTrader: (5)

I work for Sentry insurance and my rates are ridiculous thru work, so I went with State Farm and pay $90 per month for both my WS6 and my Chevy Truck (liab only)
insured the t/a as a pleasure vehicle since I barely put 3,000 miles on it last yr, but have full covg since I have a loan. shop around online and get some quotes, progressive seemed to beat most others in the big cities from what I can remember.

28yrs old, no tickets or claims $1000 comp/coll deductible

Texfinn

iTrader: (39)

When I moved to the US a bit over 11 years ago (judging by the OP's screen name, next door from him...), I didn't bring any documentation with me, but still got a really good rate from GEICO.

I've never paid as much as the OP. Never.

Then again..., the world was quite different at that time. And GEICO didn't have a gecko with british accent as a spokesperson. Not to mention cavemen...

Just shop around and you'll definetely find a better rate. Good luck.