Ok well, I'm 18 years old and just got my S2K and it's been great so far, but I just got the insurance info in the mail and they're charging $1890 / 6 months for full coverage

Is there a way I could somehow put it under my parents name or anything I could do to get it cheaper? Right now it's under my dads name I believe and I'm listed as the second driver (or atleast that's how I told them to set it up) but it still seems like a lot to me.

Any help would be apprecieated

 

[QUOTE=Costas,Jul 26 2004, 08:50 PM] Ok well, I'm 18 years old and just got my S2K and it's been great so far, but I just got the insurance info in the mail and they're charging $1890 / 6 months for full coverage

Is there a way I could somehow put it under my parents name or anything I could do to get it cheaper? Right now it's under my dads name I believe and I'm listed as the second driver (or atleast that's how I told them to set it up) but it still seems like a lot to me.

Any help would be apprecieated

 

I'm 23 with 6 points (3 tickets for disobeying a sign) and mine is $1300 for the minimum coverage plan with collision through Progressive.

If you have tickets, I find Progressive destroys everyone elses pricing.

 

Increase your deductible is my only advice.

I am 24 and have been ticket/accident free since I was 19 and my insurance with a $500 deductible is still $130 a month. I could probably find it cheaper with a "discount insurance company" but I'm not about to take that risk.

 

[QUOTE=Intrepid175,Jul 26 2004, 07:03 PM]Hi Costas,

No offense intended but, welcome to the real world.

 

Increase my deductible? Do you know if I can get some more information on how this works, because I'm not too familiar with insurance policies at all

 

See if you can get some defensive driving classes and good student discount
Even an alarm will get you a discount
and raising the deb. will help

 

On the paper that's infront of me right now it says:

"CONGRATULATIONS! YOUR PREMIUM INCLUDES DISCOUNTS FOR:
Anti-Theft I, Multi-Car, Passive Restraint 30%, Driver Training"

Does that mean that I have already recieved those discounts, or that they are available?

 

well, if you increase a deductable, that's more you pay for every "incident".

say you do a $1000 deductable. in a sub-$1000 "incident" the insurer pays nothing. thus, in a way, the risk for the sub $1000 incidents is on you...net result is a lower premium.

The insurers are not out to screw you. statistically, you are DANGEROUS. No offence. it's not personal, it's actuarial. In fact, many insurers lose money on younger drivers as a set in efforts to keep the parents.

picture this. say a 16 year old is 40% likely to total a car in the first year. say the car is $25000. How much do you think it should cost? If they do anything under $10,000 a year for insurance, the company loses. THAT is why insurance is expensive. When a kid totals a car, the insurer pays for the car, the other car (depending on state) and medical bills. thus, even if the probability is still 10%, it is still expensive to insure.

If i ran a company, i wouldn't insure anyone under 25.

 

that means you have received them.

be careful when selecting an insurer. also, tell the truth...do not lie about anything, especially mileage. if you have an incident and they find you lied, they won't pay. and it is YOU, not them, who is responsible to pay for any damages.

also, many cut rate insurers offer really good premiums to younger people. don't fall for it. If you have an accident, you NEED them to be there for you. many of these cut rate companies are scams, and will NEVER pay you (they exist solely to provide the insurance certificate needed for a license, car tag, etc. don't think that they will be there when you need help, because they very likely will NOT and leave you with the repair bills, property damage, and LAWSUITS!