I originally owned an ITR. It was stolen and I replaced it with my s2000. When I first picked up my S2000, my insurance dropped from 33xx to 29xx (go figure s2k is cheaper than an ITR). I have owned my S since june. My insurance company works on yearly policies so my rate is for the whole year. I paid my insurance in full when my policy renewed (jan 04).

I recently put my S into storage. It will be 3 months of storage from Nov 1, 04 to Feb 1, 05. I know I would get some refund for storing my car. I got a $199 refund. I was like umm ok its a little low. Why is it low? I stored my ITR last winter for 4 months and received a $800 refund. It just seemed weird so I look at my updated policy paper and it says my yearly rate is 21xx. I am thinking how the hell did my rate drop. And if it did, why no refund for the difference. I called my agent but he had already left. I will be visiting him mon or tues.

Now, I do understand that my insurance will go down somewhat when i turn 21. That is this sunday. I was thinking thats why my rate dropped but why did it drop in the middle of my policy. I looked at the policy and it states age group "male 20 with driver training." So I am like wtf, I am still classed as a 20yr old. I figured I would get the insurance drop once my policy renews in january.

My question, why the insurance reduction now and no refund?

 

Have you considered reading your insurance policy? That might be more helpful than asking us.

 

Actually doing that now, all this law lingo is annoying. I just wanted to see if anyone experience anything similiar. I am pretty sure, I won't get an answer until I talk to my agent

 

Yeah, your agent is probably the one to answer it. Still, better a rebate than a bill.

 

Call them, not us.

I'm not surprised the S was cheaper than the ITR. When I switched from the celica GTS to the S, my rate dropped slightly. Something about the fact that the celica is considered an "upgraded" version. Because I chose to get the sportier version (and was a male under 25), that was a good enough reason to beef up my insurance even though the S was a much sportier car overall.

 

damn 2100 per year is cheap
mine is 3800 a year...

 

I sold my "S" after 2-1/2 years but my State Farm insurance was $85 per month for full coverage. I am now 29.

 

[QUOTE=munckee,Nov 12 2004, 06:59 PM]Call them, not us.

 

You're only paying $520/6 mos. at 24??? Damn, I was paying like twice that for my S with the same stats.

Are you listed with a parent or something?

 

I believe your rate may drop at 25, not 21. As for the premium lowering for storing the car, it all depends on what coverages were dropped or suspended. Some states, such as FL, require minimum coverage if you own a operable car. It may be that they only dropped off collision and left comp and whatever required coverage so the decrease was small. Comp is usually left on if you store a car or should be left on in my opinion.


James