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

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Comments

  • fushigifushigi Posts: 1,235
    Along the lines of what the article mentions:

    - Get a base engine with AT. Base engine = less chance/ability to do burnouts & other "dumb teenage driver" tricks. AT = easier for the novice driver.
    - Avoid any model or trim that is "sporty" or performance-oriented. Coupes are often perceived as sporty so that might be where the "avoid coupes" advice is coming from.
    - Add available optional safety features. Note that some won't impact your insurance rates; others might. It will depend on your insurance carrier.
    - Find a model that's cheap to repair.

    On the insurance side of the equation:

    - Shop around on your insurance carrier.
    - We have a combined policy with both cars & our home. Getting home owners insurance bundled knocked like $70 off the 6-month premium on the auto side. The home insurance is still paid by mortgage escrow so that's not messed up.
    - Look for payment discounts. Lots of insurers offer monthly or quarterly options, but there can be added fees. Paying 6 months at a time avoids that for us.

    If your agent is any good, they won't mind spending a little time on the phone with you going over 3 or 4 options. Good agents are interested in building long-term relationships and realize that looking out for their customers can earn a higher repeat customer rate.
  • steverstever YooperlandPosts: 40,417
    A reporter is looking for Midwestern/Southern US residents between the ages of 17 and 30 who do not plan to purchase a vehicle and who frequently use public transportation. If you fit this description, and you are willing to share your story, please send your daytime contact information to pr@edmunds.com no later than 10 a.m. Pacific on Friday, July 20, 2012.

    Moderator
    Need help navigating? stever@edmunds.com - or send a private message by clicking on my name.

  • andres3andres3 CAPosts: 5,327
    Oh Oh Oh..I can't wait to sign up...I've also got two teen age drivers. One has 3 tickets but no accidents and the other has 3 accidents but no tickets.

    That doesn't surprise me at all LOL!

    Tickets probably represent a self-thinking good driver, and accidents a terrible driver. The way police do traffic enforcement, tickets have nothing to do with safety.
  • andres3andres3 CAPosts: 5,327
    There is nothing behind door #3.

    To revive an old dead horse, door #3 in CA would be to purchase a $50K bond in CA to self insure. Not sure what other States require to self-insure. But if someone gets quoted more than $5K/year, this would makes sense. Money is free to borrow right now pretty much with rates so low, so you might as well take on the risk, and then reduce that risk to near zero by driving carefully and taking it seriously. In a few years time you'll have enough money saved up to cover a new car should you get into a wreck; which you won't if your taking driving seriously and driving carefully.

    Exceptions: If your car is stolen, or your hit by an uninsured; your screwed.
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