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Help, I'm a new driver and insurance costs are giving me a heart attack

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  • phase2k2phase2k2 Posts: 5
    i've been reading this topic...seems like you guys are just cheap no offense.

    i'm 18, i got my license early this early may.
    i plan on buying an 07 nissan sentra or a 07 hyundai elantra

    my quotes:
    geico : 12,000 for 6months premium
    progressive: 11,000 for 6month premium
    the lowest i can find is like a 8,000 for 6month premium on state minium requirements...

    my parents don't drive and i have no idea what to do this moment.
    go under my aunts policy? make my parents get their license? :cry:
  • oldfarmer50oldfarmer50 Posts: 6,229
    What are you, a serial killer who uses his car to mow people down? No one could afford that!

    My son on my insurance on a car he was the primary driver--$1300 for a year. My insurance on a car that I am the primary driver--$259 for a year.

    2009 PT Cruiser, 2008 Eclipse, 1995 Mark VIII, 1988 GMC Van

  • joel0622joel0622 Posts: 3,302
    my quotes:
    geico : 12,000 for 6months premium
    progressive: 11,000 for 6month premium
    the lowest i can find is like a 8,000 for 6month premium on state minium requirements...


    You had to have meant $1200.00, $1100.00 and $800.00.

    Nobody pays $24K a year for insurance. If you have that bad of a record you have no business having a liscense :confuse:
  • lokkilokki Posts: 1,200
    For the cost of the car and the insurance, you could take taxi's every day and still come out ahead.

    And it'd be cheaper still to just hire an on-call driver.

    Yes, there's something wrong with those numbers.
  • jcoryjcory Posts: 17
    I used to drive an '01 Civic Coupe, I now drive an '01 Civic Sedan. As a 24 year old male, I can tell you that the difference in costs was astounding.

    6 month cost (Iowa/State Farm) on the Coupe - 1020; Sedan - 660.

    Keep in mind that insurance costs vary widely. I live in the cheapest state in the nation to insure vehicles, but I'm also relatively high risk; <25, male, and posess a lead foot, so says the Iowa Highway Patrol. :blush:

    So... moral of the story, go find an insurance agent that you trust, and get actual quotes tailored to your exact situation.
  • jlawrence01jlawrence01 Posts: 1,828
    Coupes provide significantly less protection, especially on rollovers.

    Also, the coupes tend to attract a riskier, more aggressive driver.

    I am not going to get into the great debate between coupes and sedans. However, insurance rates are directly proportional to the risk of loss related to the vehicle and the driver.
  • joel0622joel0622 Posts: 3,302
    The Focus really got hammered on insurance rates its first couple of years because we were going after the first time buyer/college grad crowd on them and selling them to allot of young people.

    Well after the first year the rates doubled on them due to the number of accidents. It had nothing to do with the car, it was the demographic we sold them to
  • phase2k2phase2k2 Posts: 5
    My #'s are correct, yes its 12grand for a 6month premium full coverage.

    I asked the represenatives why? here are the reasons

    1. I just got my license
    2. MY age ( 18 )
    3. my residency ( 11214 )

    Don't believe me? get a quote using that zipcode with your age as 18.
  • ntextreme3ntextreme3 Posts: 1
    you must be mistaken..

    im 17, i got my insurance (no collosion) for $944 a year... currently just finished paying off a ticket plus i go to court tuesday for speeding and thursday for careless driving (even though the careless driving wasnt my fault.. the cop was walking down the street and said that it look like i was going fast hahahah.. so i have to plea not guilty but i have no money for a lawyer so ill be repping myself fun fun..)... i pay once a year, not monthly, and paid in full in february (after the one ticket occasion) and still have under 1000 as my payments.. my mom is 35 with bad credit and not a perfect record so its not any reason that its that low..

    i also have a friend who is 18, has his own insurance, along with 13 points for speeding, wreckless, and so on and his is 6000 for liability only.. so i see no way possible that a new driver with a good record could be double his is with a horrible record
  • Kirstie_HKirstie_H Posts: 10,824
    Are you also in Brooklyn, NY? This could make a big difference.

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  • nj2pa2ncnj2pa2nc Posts: 813
    his insurance is for full coverage
  • blueiedgodblueiedgod Posts: 2,803
    i've been reading this topic...seems like you guys are just cheap no offense.

    i'm 18, i got my license early this early may.
    i plan on buying an 07 nissan sentra or a 07 hyundai elantra


    my quotes:
    geico : 12,000 for 6months premium
    progressive: 11,000 for 6month premium
    the lowest i can find is like a 8,000 for 6month premium on state minium requirements...

    my parents don't drive and i have no idea what to do this moment.
    go under my aunts policy? make my parents get their license?


    I bolded out the main problem in your statement.

    What happened to the rule that new drivers get 10-15 year old beaters? I bet you that a state minimum liability only coverage won't cost more than $3000 a year in Brooklyn on a 1985 Chevrolet Impala.

    I used to live in the Bronx, and my insurance was $5000/year for full coverage for a 99 Civic coupe, back in 1999-2001. While liability only on the 1991 Jetta prior to the Civic was only $1000/year.

    Set your sights on a nice mid-80's domestic sedan and you should be able to afford insurance.
  • phase2k2phase2k2 Posts: 5
    yes , i'm from brooklyn.

    now about getting an old [non-permissible content removed] car, thats crazy :/
  • Kirstie_HKirstie_H Posts: 10,824
    We offered advice to help save you money on insurance. If you are prepared to pay $12K per year in insurance costs, then feel free to discount this advice. Unfortunately, none of us has been able to locate the Insurance Fairy, who can provide deeply discounted rates on new vehicles for new drivers living in major urban areas. Sorry!

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  • blueiedgodblueiedgod Posts: 2,803
    yes , i'm from brooklyn.

    now about getting an old [non-permissible content removed] car, thats crazy :/


    Well, you could have wheels, or no wheels at all. I don't know your financial situation, but $12,000 a year to cover a $15,000 car is plain crazy. And the reason your insurance is so high is because you have no driving experience, and will probably wreck the first car, which will put the insurance company on the hook. They don't want to pay it.

    You need to get some time behind the wheel before your rates can go down. In order to gain time behind the wheel in insurance company's eyes, you need to have continuous coverage for let's say a minimum 3-5 years.

    Since you can't afford $12K premium, but you need to get 3-5 years of continuous coverage, you are limited to what you can cover out of your pocket, which is liability only coverage. No bank will let you borrow money and not have the vehicle fully insured, and if you had the cash to buy this shiny new car for cash, you would not want it destroyed or gone the next day without having it protected.

    You are basically limited to a used beater for the next 5 years. Everyone had to do that, you are no special exclusion, unless you are born into a rich family, where everyone gets a BMW for their 16th birthday, and daddy pays for everything.

    My first car was a 1983 Chevy Celebrity with 140,000 miles, and that was in 1994. So, 11 year old car now would be a 1995, which I bet is a lot nicer than an 83 Chevy was. My Liability coverage was at state minimum ($25,000/$50,000) and it cost $700/year in the Bronx. I didn't buy new car until 1999, and that was a shocker, $5,000/year for full coverage on top of $300 monthly payments. I move dout of the Bronx fairly soon after that. Location made a huge difference in insurance cost.

    Now, I pay $600/year for a $100,000 full coverage policy on a 2005 CR-V, $70/year on the motorcycle, and $350/year for the homeowners, but I live in the suburb of Buffalo (2nd highest populated area in NY State) and I am over 30. I have been driving for the last 13 years and have not had claims against my policy, have perfect credit. All of those factor into insurance cost, credit history being 2nd most important after driving history.

    So, your choice is no wheels, or old wheels.
  • mikefm58mikefm58 Posts: 2,882
    If you are prepared to pay $12K per year in insurance costs

    The quote was $12K for 6 mos of coverage, not one year. His lowest quote was $8k for 6 mos at the state minimum requirement.

    Wow.....
  • jipsterjipster Posts: 5,345
    Don't believe me?

    Nope.
  • Kirstie_HKirstie_H Posts: 10,824
    Yeah, you're right. The point still stands that none of us is going can offer advice beyond 1) pay the astronomical insurance rate, or 2) set your sights lower on the vehicle purchase. There is nothing behind door #3.

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  • blueiedgodblueiedgod Posts: 2,803
    Yeah, you're right. The point still stands that none of us is going can offer advice beyond 1) pay the astronomical insurance rate, or 2) set your sights lower on the vehicle purchase. There is nothing behind door #3.

    Well, there is door #3... It is called Insurance Fraud, and about 45-50% of NYC residents commit it, either by registering out of state or in upstate NY. Then 10-15% just drive without insurance and the rest have to pick up the tab.
  • phase2k2phase2k2 Posts: 5
    cant i go under my aunts policy? let her buy the car and let her buy insurancez , list me as an optional driverz

    the most i can afford is 6000/year for insurance, aka 500 a month.
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