i'm 19, my camaro's registered in my name and i'm on my parents' policy. i just got the car so it's not insured yet, are there some tricks to keep insurance lower like getting my dad to say that it's a second, limited use car for him when he adds it to the policy?

it was originally an lg4 sport coupe so would that keep the insurance lower since it's not a z or iroc? i'll be driving it only between march and november.

 

Yeah, my mom says it's a second driver or something like that, and basically it's true cause the car's at home while I'm at college this semester, so it doesn't get driven much. I'm paying about $60 right now, also if you're in college get your report card and some insurance companies will give you a discount for making a certain grade 3.0 I think. I'm also on a good driver's program where I don't have any points.
I know when I first got this car I had full coverage paying $180 a month, that didn't last too long.

 

my car is registered in my dad's name and is an "occasional use vehicle" or something like that. I only drive it in the summer so I'm really not lying.

 

1. Stay in school and keep your GPA up. Back in the day, I was getting a pretty good discount for maintaining a 3.0+ average.

2. Limit the annual mileage to under 7,500. That is another key figure in their calculations of exposure, and therefore risk. The lower the annual mileage is, the better they like it.

3. Increase the deductible for collision coverage.

4. Suspend the insurance while it is parked for months at a time. Don't CANCEL the insurance, just back off the coverage to comprehensive only to cover theft, fire, acts of Göd, etc. This way you save a substantial amount on liability insurance but still have a policy in effect, so they shouldn't be able to drop you or refuse reinstatement.

5. Talk to your agent about other ways to limit or reduce your costs - that's why they are earning their commisssion. If they give you trouble, look for another agent, since that one isn't being service-oriented. (Besides, ask if they would rather have a smaller slice of the pie or no pie at all?)

6. Go back and read the #1 idea again - that one is most important by far, and not just to keep your insurance costs low.

 

dam you guys are lucky im 17 own an 83 trans am and pay 250 a month just for lilability it sucks wish my mom and dad would put me under their name

 

If you're a good driver, think about tossing comprehensive insurance out the window completely. It'll save you at least 800 bux a year.

If someone gets in an accident w/you and it's their fault, they pay anyways.
If you get in an accident and damage / hurt someone else, your insuance pays... only thing you're responsible for is your own damages--- But this system is somewhat dependent on you NOT getting in an accident that's your fault.

Put the extra 800 bux in the bank per year and you have 1) a hell of an insurance fund and 2) a hell of a retirement fund down the road, hehe.

 

most insurance companies will pay around the private party value of www.kbb.com and www.nadaguides.com if a car is totalled. don't forget to add in deductible when figuring whether to carry collision coverage or not.

+$2000 insurance payout for totalled car
- $500 insurance deductible
- $1000 (2 years x $500/year collision coverage insurance)
==================================
$500 total payment = not worth carrying collision coverage

 

Yeah, I've got no collision on my car either, the insurance company would look at mine, laugh, and give me $500, even though it's in good shape! I've had my own insurance since I started to drive, and at one point was paying $3k a year (New Jersey), so I can't say I feel bad for ya!

But; now that I'm 25, and haven't had any accidents/tickets/light bulbs out for a long time, my insurance is about $800/year. Just drive safe/legal and get older; it'll drop.

 

Like many of us I've invested much more into my car building it up than what the blue book value is. if it were to get wrecked, would I be SOL and just get blue book value or can I get back what I put in?

 

Knowing insurance companies? NADA value, not blue book (NADA is slightly lower than KBB... buy from NADA, sell from KBB...)

BUT if the car is totaled but your add-ons aren't damaged, you can always pull them off and either sell 'em or put 'em on another car...

 

Our agent noted me as married (which i am not) Its a nice chunk out of what i used to pay. We didn't request it, but since i was going to school and wasn't driving the car thats what they did. The low milage thing is good also, along with good grades. If your car is worth the collision coverage have them appraise it that way you won't get screwed. I assume that you took 6 hours of instructed driving (parents don't count) that is good for a discount. Our company doubled the cost when they found out that i owned the car, so i sold it to my mum for $1 and they dropped the cost...look into that. Other than what everyone else has said it just leaves the obvious.

 

Im 17 and under my parents policy but my 88 SC is registered under my name and a full time driven car...anyways i have a 4.0 acerage and ive had drivers ed and no tickets....75$ a month liability...thats pretty good compared to alot of guys i know my age...a buddy of mine checked on a 83 z28 for him it was 216$ a month liability...hes kinda dumb so maybe thats why

 

I'm pretty sure they take intelligence into direct consideration when quoting insurance rates



LOL
Clem

 

interestingly, many insurance companies are now using credit history scores in determining car insurance premiums. is basically a discount for the wealthy, and a surcharge for the poor.

 

Well, progressive wanted something like 1022.00 for 6 months of just liability, and the state minimum requitements.

www.esurance.com quoted me 213.00. I have been with them for a year now. Only needed to contact them once, when i was registering my car again, they were polite. uh, that's about all the info i have on them.

Super cheapXor§ though! at least for me

 

I payed $1185 for the whole year. I'm 16, cars registered under my name, titled under my name, and insured under my name. I payed it all off in cash right away.

 

move to saskatchewan

 

Ha, ha!

When I was 18, back in 1976, I had a 1968 Camaro, 283, 4 speed, etc. All of it was in my name. My driver's license, registration and comprehensive insurance was $85 a year in Saskatchewan

Now I'm 44 and the 86 Sport Coupe costs me $422 a year in Alberta. That's just PL and PD--nothing comprehensive. License $12.28 and registration $50 per year. That's about $300 US total--not even a dollar a day

 

Oh man you guys should be jealous of me!

I'm 19, have an '85 Trans Am 305 / 5-speed. 200,000 of liability, no comprehensive insurance at all.

To insure in the fine Commonwealth of Massachusetts, it's costing me $$$1,800 PER YEAR.

Keep in mind that's without fire, theft and collision. (saved me 800 bux)

License, Registration, Inspection and Sales Tax on my $1,300 car comes to just under 200 bux.

 

does the trim level affect insurance, like would an lg4 SC be cheaper than an lg4 iroc to insure?

 

It's all based on value.. whatever is worth more costs more to insure.

 

i am 16, i bought an 85 Iroc, my dad signed the title, and the insurance listed it as limited use, i was driving to school and work less than 75 miles a week, i was paying my insurance was $350 every 6 months, they said since the car was more than 10 years old i couldnt get a deduction for good grades but oh well, becasue the car is totalled now not my fault, some elderly people turned left in front of me!

 

in mass, insurance is very regulated. many of the big companies such as geico & state farm do not write policies in the state. insurance companies cannot use credit history in determining rates, but they do use:

driving record (have any accidents or moving violations lately)

territory (i live in a small town, move over to the city 3 miles down the road and my insurance rates would go up close to $200/year. move to mattapan, jamacia plain or other place close to boston and they would nearly double)

length of time you've been driving (3 classes [0-3 year], [3-6 years] [6+ years]

vehicle class (interestingly an 89' chevy camaro IROC would be more expensive to insure, particulary for collision, than an 89' cadillac fleetwood brougham. caddy original dealer sticker price was considerably more than IROC was. caddy = luxury car. IROC = high risk sports car)

 

Again, I'll be an *** and tell my rate.
1988 Camaro SC Convertible with 305 EFI on the insurance
I'm 17
Have under a 3.0 GPA
Pay $540 every 6 months for basic coverage (liability)
Ha

 

Get the car appraised (costs about $150, I think) and insured for that amount. When I start driving my car again,I really need to: My Formula only has 20,000 miles (looks like new) and I paid $9500 for it. I would be so screwed if anything were to happen and I got bluebook value for it . Also, I have put about $2000 into it. If you have all of your receipts, I heard that you can get the value of your mods insured as well--it would be included in the appraisal. You should probably check with someone that has a fairly built up car or very nice car. Off the top of my head, I would ask Blue502 and CarNDrvr.

 

While it is a good idea to get the car appraised and insured for the proper amount, it will cost more to insure the car for more. So it's a trade off. If you want low insurance, you have to worry about "what-ifs" because what you're actually doing is underinsuring the car and taking on some of the risk yourself.