Hello. I am paying about $2,600 a year on my s2k, which I think is way too high, considering that I have a clean driving record and perfect credit (although I do have very good coverage and low deductibles). I'd like to shop around, but every insurance company that I know of does a credit check, and I don't want to take 5 or 6 hits to my credit score in the process. Is there any way around this, or are a few points on my credit score the price I pay for shopping?

Thank you.

 

dude. first of all, raise your deductibles. If you can cut that premium in half, you'll save the difference between a $250 and $1,000 deductible 10x over again over the life of the car.

If that doesn't help, re-evaluate why you have so much coverage; ie do you have a lot of assets?

If your premiums still suck, then you're either a) too young b) your credit already sucks and it is costing you or c) you speed way too much (and get caught).

Sorry to preach on you - one of my pet peeves is "over-insurance".

I guess to answer your question - go to progressive.com or another site that does comparable quoting - I *think* they will forward your info to those site for quotes instead of pulling it 15 times. That way, you get an idea of how competitive each major company is.

 

...and, I'm pretty sure the type of penalty levied for insurance is much different that for applying for loans. It won't last long and isn't as bad, if it even exists at all.

 

last I heard it was like 3 points per check and only lasts on your credit about 3 months, or something like that. I'd have to check with the g/f again. She worked at a bank assisting the loan officers there with credit apps.

 

I appreciate the advice. I do have a fair amount of assets, which is why I have so much coverage (I don't want some punk taking every dime that I have worked for because I rear-ended him at 2mph), but my driving record is perfect, without so much as a parking ticket, and the last time I pulled my credit, it was just a hair under 800.

I think I will try lowering my deductibles and doing the old "shop with Progressive and compare prices with 468 different companies"

I guess paying $2,600/year is what I get for insuring myself with the company that my friend owns...

 

Man I pay $1109 over 6 months for three cars @ $500 deductibles through Geico... where do you get your insurance from? I know some places are ridiculously high...

 

GEICO for your money!

 

You should not get hit for each credit check. You are "allowed" by the credit reporting agencies to shop around. Typically you have a 30 day period to have your report pulled by various companies while shopping for the same thing. For example, if you have State Farm pull your credit today, and Allstate pulls it next week you don't get penalized for two credit checks.

I don't think your rate is all that bad if you have heavy coverage. The S2000 is a bear to insure, period. The car has very sought after $7000+ retail price seats, an easy to slash top, and tends to get wrapped around stuff fairly often.

 

dude you are paying way too much i got 11 points and paying just $1500 and im only 22 years old

 

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