trackbird

iTrader: (4)

Just for "thought".

A guy at my high school (I was a freshman), got a new IROC (they were new then). Totalled it.
Mommy and Daddy bought him a Corvette.
Totalled it.
They then got him a Porsche 944 Turbo, and sent him to driving school.
Totalled it.
So, he got another Corvette (all new cars).

The insurance company said "no more". So he had to get rid of that Vette.

For punishment, he got a brand new Probe GT (I'd have gladly driven that in school).

I don't know what happened to the Probe, but 1-2 years later, he was running around in another brand new Vette?

Gee, total it, get a better car....Keep wrecking them....Why not?

pdd

iTrader: (3)

i cant believe all u 16 yr old punks with nice cars. o wait when i was 16 back in 1989 i had a nice '89 z28. and yes, i crashed it showin off. and i had an 1986 gsxr i used to pass the school buses on

trackbird

iTrader: (4)

Man,

My first car was a 1980 Ford Fiesta (not the newer Festiva, the original with the 1.6 liter "Kent" motor). I didn't get my first F-body until 21, when I bought it.

NBM2001z28

iTrader: (43)

Best post, seriously. I'm 16, i've had a 2001 z28 for about 6 or 7 months now. I love it to death and it is completely my kid, i treat it like its the best car out there but im not afraid to take it to the track and have some fun. To be 100% honest, it was a huge mistake to buy it. My parents told me before i bought the car that it was going to be a big mistake and they were setting me up on my own insurance plan. My insurance is $310 a month, so 3720 a year with no accidents and no tickets with a good grade discount. This is the best rate i can get, if i call another insurance agency they just ask me what i pay and they say Holy ****, we cant even match that. I paid $16,391 for the car with 12,900 miles on it. i put 6k down and i have a 3.5 year loan through my parents. Meaning no interest rates. I pay $250 a month for the car $310 a month for the insurance, plus i have a big time social life. I'm always out and literally only home to eat breakfast and sleep. I work a 35 hour a week job PLUS when i have time off i do brake jobs, and other kinds of maintence things on cars so i can have some $$$ to go out, take girls out have fun and that kind of stuff, after you do all that you still have a desire to go out and modify the car plus race it. Gas gets expensive really fast and let alone per. parts. I'm picking up my headers, y-pipe and cat back from Speed Inc. sometime here and im still 3 months a head on my payments. Basically the car is going to cost you $500 to sit in the driveway. $100 a month for gas - face it you're a teenager all you do is drive, i know this far to well. Oil and other **** adds up to. $200 to go out and eat and be with friends all the time and that kind of thing. Trust me, its not worth it. Get anything else before a low mileaged ls1. wait till you're out of high school cause right now, it really sucks for me to keep this car. I have no choice though, if it came down to it i dont know if i could sell it anyways.

skunk50

just remember though, the insurance company can deny coverage if your mother lied and said that your LS1 is not driven by you. the rule for most carriers is that the YOUNGEST has to be rated on the MOST EXPENSIVE car.

you caused a little fender bender...no problem....but you cause a multicar accident with tens of thousands in property damage and injuries....your insurance company will go through your file with a fine tooth comb to try and deny the claim.

lost a customer? big deal, they've got thousands more.

first thing is they will run a title search to see if the car was registered under your parent's name....if not, they can deny it due to false info given by customer....mommy can only insure car owned by her....most they'll do is give back the premium paid....and you're liable for all damages (well your parents are)

skunk50

btw...kudos for you kids who are under 18 with an LS1 and never gotten into an accident nor ticket......i know that i wouldn't have been able to handle it if my first car at 16 was an LS1. that is, if you're telling the truth....because young kids drive like ****....talking about they don't know WTF they're doing...i know, i was one of them 20 yrs ago.

NBM2001z28

iTrader: (43)

You're right, 95% or more of the kids drive liek ****, im 16 and im not comfortable leaving my car in the lot every morning with 99% of them. unfortunately, if i want to drive my car i have no choice but to put it where i dont want it. I'm the one to sit in their car until there's 2 minutes left to get to class and then go in just to make sure nothing happens to it. the parking lot is patrolled all day long so im not to worried about it but im in the first 20 to get out there after school too. i care about my car to much to have a dip **** in their front-bumper-falling-off-POS-car to hit mine then leave afterwards becasue they dont care.

Rogue Leader

Its a fairly extreme case for that to happen... however youre right it DOES happen... Not all companies rate the youngest driver on the most expensive vehicle, but youre sure as **** gonna be rated on it if you have an accident with it. As for registration, it depends on the company. State Farm For example will allow the car to be registered by the person on the policy, GEICO however requires it to be registered to the policyholder. BUT depending on the state the state checks the ID cards to make sure the registered/insured person and the registrant match, if they dont then they wont issue a regestration.

This is called Misrepresentation, and yes it absolutely is grounds to deny a claim.

Swifster

I've been in the business 19 years, and I've never seen an insurance company pull this. I'm not saying it isn't possible in the right situation, but again I've never seen this. Now the part about being listed on the car you had your accident in IS true. If the 16 year old wrecks mom's Land Rover and he wasn't listed under their policy OR his own policy (in other words, the insurance company has no record of Jr.) they will rate him on the Land Rover.

And let's get this thing about insurance companies spending every waking hour trying to think of ways to deny claims and cancel policies. THIS DOES NOT HAPPEN! What an insurance company wants is to correctly assess the risk involved in insuring a given car, be it a Camaro SS or a Chevy Chevette. The cost of insuring the Chevette goes up with a $hitty driving record, too.

Do insurance companies do title seaches? Yes, but this is usually done when it looks like there may be a big issue in ownership, value of the vehicle (in a total loss situation), thefts, etc. The insurance company doesn't necessarily care who owns the car, they care who drives the car. They may not cancel you if they find Jr. is driving Dad's Camaro, but they WILL adjust the rate Dad pays!

When I first got into this business at AAA Michigan in 1985, I was told that the company had three rules; 1 - Don't screw the customer! 2 - Don't screw the body shop! 3 - Don't screw the company! If we adhered to these rules, there is no problem. I run my own independent insurance appraisal company looking at wrecked cars for various companies here in Michigan. I run my business in this fashion.

I have never met an adjuster who woke up and said, "who can I screw today?" I HAVE met adjusters who make HONEST mistakes because they may not be car people. They may not know the difference between a Mustang LX and a Mustang GT (same VIN numbers). Does this make it OK? No, but to make insurance companies out to be crooks or that they go out of their way to stick it to you is just plain stupid. They read and interpit the policy (the same one 95% of those in this forum have never taken the time to read!) and make a decision based on this policy. If you think the adjuster is wrong, back it up with the wording in the policy!!!

CamaroSS

iTrader: (2)

Getting this car was a mistake!!! Too much money for any kid in their right mind. It constantly needs attention, work, gas, and more. I am always broke, and when I am not broke, I am trying to work, then I get paid, and I am broke again!!! I love the car to death, but it makes you appreciate it a little more when you find yourself broke and not able to do anything, just because I wanted a dream car as my first car.

I have a friend with an SS too, he pays nothing at all for his car, he is a free loader!!! His dad also bought him a new set of Chrome Z06 wheels too. Isn't that nice? That is the kind of crap I get mad at, I am broke working my *** off to get the car, and he sits at home and complains when he has nothing to do but wash his car. I got to school, go to work, eat, do homework, go to bed!!! I only have Friday and Saturday off, and that is spent doing car stuff. But I gotta tell ya, it is worth every penny.


Back to my brother though, I can't believe the kid, as in my previous story you read, the kid should in no way gotten a new GT. Well this is where my story on life get fuc*ed up. He can't drive his car for 2 months, and after that he gets his car back. A little slap on the wrist huh? Oh it gets worse though, there is talk of him getting a Cobra for when he goes away for school, or maybe when he comes back from graduating from college. I think it is time for me to ask for a Vette, because this is BULLSHIT!!! If I were to wreck my car, it would be gone, and I would never drive again, but he wrecks and he gets rewarded. My parents are very dumb to think this way, the kid is an *** to me, my dad, my mom, my dog, and to other people, and he gets what ever he wants.

demonspeed

iTrader: (7)

I'm confused... so you say you have to pay for everything, but your brother gets everything for free? How does that work? I mean, don't they feel bad about not helping you out or??? I'm very confused with what you keep bringing up

SoloSport

skunk50

i've been in the business for 15 yrs, and i've seen this. my agency is
in a semi ghetto area where the clientelle is not the most honest. i
also BS with the special investigations unit and they tell me that the
first thing they do in a big claim or even just a theft of a car, is to
do a title search to see if the policy holder is the registered owner.

yea, but this is still good for Junior because mom's policy will cover
the accident and then only rate Jr. on the Rover from that point on.

well first of all, you need to calm the **** down. i never said they did, nor is it possible to spend every waking hour trying to do anything...

where did i imply this dumbass?

BAD ASS TA WS6

iTrader: (5)

I got my TA when I was 16, in 10th grade. I sold my bike, quad, and guitar which I had worked pretty hard for, for the downpayment ($4k). Picked it up down in Lowell on the last day of school, and packed girls in it . Deal was that if I continued to get staright A's, Pops would help pay half of the payment a month until I turned 18. I worked at a Porsche coachwork/race car prep shop until then. Now I work full time as a BMW Technician, and pay for the car, mods, and a bike. I still don't pay insurance, my dad is cool enough to do that through his business, it's around 80 bucks a month. Car's only got 10k on it, sits in the garage most of the time. Your only 16 so your dads going to have to either cosign with you, or pay for it completely if your a lucky SOB. Insurance will have to go under his name, and if your under his plan, with that car, I would expect around 7k a year. I was quoted around $6500, since then, I've gotten two speeding tickets (stupidity) .

As for controlling the car, I look at it like in a weird perspective. I've been riding quads, dirtbikes, motorcycles, and driving longer than I legally should have been. Some people can handle motorized things, other people crash and burn. This kid probably won't find out until its too late. The majority of the kids I have seen/know, can't drive worth a damn. There is maybe 4 kids my age that are excellent drivers. The rest I don't trust my life with. Be carefull...
Rob

-=1984Dreamer=-

A BMW Tech.... Bad *** Ta Ws6 how old are you? Just out of curiousity.

Swifster

just remember though, the insurance company can deny coverage if your mother lied and said that your LS1 is not driven by you. the rule for most carriers is that the YOUNGEST has to be rated on the MOST EXPENSIVE car.

If any agent pulled this, it is strickly to line his own pockets. I don't know about you, but most families don't let Jr. drive the most expensive car. If mom & dad are financing Jr.'s Camaro, they're usually driving Corvettes, Cadillacs or Mercedes. They'll (underwriters) rate on the car Jr. was driving at the time of the accident.

you caused a little fender bender...no problem....but you cause a multicar accident with tens of thousands in property damage and injuries....your insurance company will go through your file with a fine tooth comb to try and deny the claim. followed by i never said they did, nor is it possible to spend every waking hour trying to do anything...

What side are you taking? Adjusters check coverages. If the driver isn't listed it gets flagged and sent to underwriting. If the driver is related and lives in the same household, the insurance goes up. I've NEVER seen a claim denied because of this unless the driver was previously excluded under the policy.

first thing is they will run a title search to see if the car was registered under your parent's name....if not, they can deny it due to false info given by customer....mommy can only insure car owned by her....most they'll do is give back the premium paid....and you're liable for all damages (well your parents are) followed by i've been in the business for 15 yrs, and i've seen this. my agency is in a semi ghetto area where the clientelle is not the most honest. i also BS with the special investigations unit and they tell me that the first thing they do in a big claim or even just a theft of a car, is to do a title search to see if the policy holder is the registered owner.

Again, where did you want to go with this? A title search is not the first thing done when a claim is filed. If a claim is in SIU, it's because of fraud, not a kid driving mom or dad's car. Most theft's don't even get to SIU. And unless the collision was a possible set up (staged) to collect on medical costs, collisions, regardless of the exposure, will not be sent to SIU. Under what possible curcumstance do you think was cause a file to be sent to SIU on a collision (car hits two parked cars, a truck, a pedestrian, and a building. Adjusters would be handling the property damage and medical bills. Why SIU?)?

dumbass? Unfortunately, most companies keep the sales and claims people seperated in terms of knowledge. I don't pretend to know sales and most sales people don't pretend to know claims.

BAD ASS TA WS6

iTrader: (5)

I'm 18, haven't been to a tech school yet, but I scored myself the job due to the fact that I've had experience in european cars since the age of 15. Mostly body work, but since I'm not ASE certified yet, I had to prove to them I knew what I was doing. I've since been hired full time It's a BMW specialty shop, not a dealer, but we're just about as big.

Gotta keep the cash flow going....

Rob

Smokin00WS6

iTrader: (4)

Its really different (very nice actually) seeing 16-20 year olds with great taste in cars! Im only 21 but it seems like tons of kids younger than me are infatuated with the Import craze.

I just wanted to say something to the younger guys that are still in high school with an f-body! Please be careful. Ive seen so much in the little time I have been driving. You have so much Power at your toes, dont get cocky or ever think you have mastered the skill of driving. YOU NEVER WILL! When you think that you can do the best or are the best at driving thats when something will happen. Being in high school you deal with alot of pressure from friends and classmates, no matter how bad you want to show off (Yes you do probably have the best looking car in the school) always make sure of your surroundings, and dont do something you will regret. You could be driving your car one minute, then the next thing you know you could be in the back of a police car or an ambulance! I just wanted to say this cause its nice knowing that younger people have a great car like an F-body! And I would never want you to have your car taken away!

Mike

DeepBlueZ

very well put mike.

-=1984Dreamer=-

Bad *** Ta Ws6, i envy you! You got the job and the car. I have a passion for cars and a need for speed. I would want to work on, restore, or race cars if I could do it. My dad thinks that college and a business degree would do it. I am 19 by the way and broke as hell.