MY STORY:
Today I was at a Honda dealership after hours of negotiating on a brand new Black S2000 2009 with my dad. Finally got the dealer to come down to where we need him at.. Moments later mother comes rushing in the dealership telling me and my dad not to finish the deal because she just got off the phone with our insurance company saying adding this car to the 4 cars we have under one insurance company will bring our price from $2500ish to $7500.. (That was under my name however, under father's name insurance would just double.. lol ironically.. "JUST" ) Well I have been waiting to get an S2000 for over 4 months now it was "supposed" to be a graduation present from my dad. . Well long story short we walked out of the dealership after Honda checking out my dad's credit and about to finalize because my parents just cannot afford insurance that is not only more expensive than the car ,but double what the car would have cost me.

Okay so I don't know what's up, should insurance really be that pricey just because I'm young however have no negative record? I called the insurance company 3 times myself to make sure they were sure that this was the quote they were giving me.
So under my father's name I'm getting quoted around $2,000-$3,000+ every 6 months.
Under my own name I'm quoted $5,000+ every 6 months.

Anyone have the same or maybe can give me some help on cheaper insurance. I know I'm young and don't have a long driving record like the most of you guys. But I hope there is someone out there that has been in my position and can give me some help getting my dream car.

Thanks alot for taking your time and reading my post/helping me.

(BTW: I did use the search engine but couldn't find anything similar to my story sorry!)

EDIT:
Yeah, I live in Riverside California. :/ If that even matters.

 

im 18 years old with one incident on my record. i put my dad as the primary driver, and me as the secondary. with a $500 deductible, i pay $100 full coverage.

 

With what company? Also would that work with financing a vehicle?

 

I used to live in Ontario Canada and when I first got my licence (back in the 70's) they used to charge based on your age and the make and model of your car and the engine size. Insurance was not affordable for a new driver so you could go under DAD's insurance and I know it was expensive but I thought those days were long gone.

If this is a family company that you have dealt with for years ask for an explaination. Surely a family account worth 2,500 ish should give you some leverage.

 

Wow, people in Vancouver think Insurance is expensive over here!!!

 

I would get some quotes form other companies for comparison. I would expect insurance for an 18yo on a brand new S2000 to be high, but not necessarily that high. My guess is that your particular company just doesn't want to take on that particular liability (young male in sports car) and thus prices it extremely high.

 

yes it'll be extremely high. when did you get your license? that counts as well. also depends on where you live, nyc would be higher than others.

as for it being 2-3k a year...even under your dad's name is probably because they have you as one of the drivers in the coverage. if they take you off the list i'm sure the rates would be MUCH lower. also what insurance you have? state farm? all state? geico would be cheapest but i don't trust them at all with full coverage. and i'm not surprised you got quoted 5000/mo under your name. when i was 20 and wanted to insure a 93 240sx liability and i had my license since 16, state farm wanted 1500/6 mo. but geico only wanted 1/2 of that.

so yea if your dad allows it, try to get him to take you off the insurance list and it'll probably be a lot lower. and if that doesn't work maybe you can settle for a early model s2000 with maybe just liability coverage...that is if you still want any s2000. i would just do that cause them rates aren't gonna get cheaper anytime soon. at least 3-5 years...good luck.

 

try and look around. see the difference in price if there is one between a new one and used one. put your father or mother as the primary driver and you as the secondary. theres no way of beating it. it will be higher than normal but theres only a few things you can do to get it lower. youre 18 and driving a sports car 2 door 2 seater convertible.

 

I recall a similar experience. While at the dealership I was to insure my S thru GEICO, my current insurer at the time, and they wanted 2500 for 6 months, or about 430/month... more than the car's monthly payment. I told them "suck my d***" and called up nationwide. They offered me full coverage with 2 minor speeding convictions for 900ish every 6 months. Do your homework and you could find a better deal.

 

u should do what i do have your dad take u of the insurance and get him 2 put it in his name with full coverage, i pay $140 on a 2004