[OT] I'm paying $350 a MONTH in Car Insurance!!

[Paul_Klein]

Does anyone else think this is... suspicious?

Here's my stats:

I'm a single, 22 year old male.
I drive a 1990 740 Volvo
I have have full coverage

As for my record, I have never once been at fault in a car accident. I have been hit twice, both times totaling my car. I have also had a car mysteriously blow up on me, but I cannot recall wether or not the Insurance company gave us any money for it. I've also recieved 2 speeding tickets in my history driving, both resolved.

Does paying $4,200 a year sound right to any of you? State Farm kicked me out about 2 1/2 years ago, and now I go through Progressive.

I'm considering dropping Collision coverage, but I cringe to think about that. But I can no longer afford to drive at this much a month.

 

[Paradoxish]

That does seem suspicious to me. I'm 18 and I've been at fault in one accident and also have two speeding tickets (technically three, but one was dropped in court) and only pay $280/month on my '02 Nissan Maxima with full coverage. I was advised by Progressive that this would go up by nearly $80 if I were to trade the Maxima in for a 350Z or G35. It seems strange to me that an 18 year old with a poor record and a sports car would pay as much as a 22 year old with a good record and a luxury car...

Also, when I was on my parent's coverage I was barely adding an extra $200 onto their monthly payments.

You should talk to your insurance company, because that really seems outrageous.

 

[Maldur]

It does sound like an aweful lot. Im not in the states but I pay only €30 a month for complete and full coverage!

Now I do drive the best car on the planet

 

[Kamard]

Hi there. I used to sell car insurance. Bear with me...

How much you pay is decided by about fifty factours, and you, your car, and your age are only three of those.

You have to factor in where you live. I see it says something about Illinois. If you are anywhere near Chicago, expect to pay 10x as much than if you lived out in the sticks.

Did your car do poorly in crash tests? Has it turned out to be expensive for repairs since? Car insurance companies hate cars like that.

Is your state well known for having poor drivers? Many of the top companies won't even write insurance for New Jersey, for example, nor will they write for people who commute into New Jersey daily for their job.

As for your speeding tickets, you might think they've been resolved. For your local DMV, they may've been. But an insurance company can see back 7 years, and can hold those against you...

As for your mystery blow up on that car, insurance companies will give you another big red X for that too.

In closing, car insurance, and insurance in general, is a necessary evil that you will have to smile and bend over for... and have fun with the 4200 dollars a year. At least you don't live in Arizona... I saw one kid's with a BMW happily sign his year away with one of the companies I used to represent. His cost, a 19ish kid with a new BMW?


20,000 a year. Which was better than the 25 he was paying.

 

[Kamard]

I'm considering dropping Collision coverage, but I cringe to think about that. But I can no longer afford to drive at this much a month.

And don't be fooled into thinking that will *always* bring your price down... a lot of good companies want you to have MORE coverage, and charge less for it... shows you are more responsible.

 

[Alzrius]

People ask me why I don't have a driver's license or a car. This thread is the answer.

 

[hong]

An under 25 male with two total losses and two speeding fines to his name is pretty much doomed. I suggest taking out third party property damage cover, if available. Failing that, stick to public transport until you hit 25. Your group is basically the highest risk in the market, and premiums will reflect that.


Hong "works for an insurance company" Ooi

 

[Horacio]

Car insurances are a bit... expensive... in USA, aren't they?

 

[tleilaxu]

Does anyone else think this is... suspicious?

Here's my stats:

I'm a single, 22 year old male.
I drive a 1990 740 Volvo
I have have full coverage

As for my record, I have never once been at fault in a car accident. I have been hit twice, both times totaling my car. I have also had a car mysteriously blow up on me, but I cannot recall wether or not the Insurance company gave us any money for it. I've also recieved 2 speeding tickets in my history driving, both resolved.

Does paying $4,200 a year sound right to any of you? State Farm kicked me out about 2 1/2 years ago, and now I go through Progressive.

I'm considering dropping Collision coverage, but I cringe to think about that. But I can no longer afford to drive at this much a month.

i suggest getting PLPD and putting all that money in the bank. you can buy another car if this one gets wrecked!

 

[Kamard]

Car insurances are a bit... expensive... in USA, aren't they?

Depends on where you live, really. In rural areas, the insurance rates are pretty reasonable. In some metros, they are atrocious, and in some entire states, again, like Arizona or New Jersey, the rates are abominable.

Arizona's are so high due to the large amount of elderly drivers and the flatness of the land (aka high speeds), that crank the accident ratios up.