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Car Insurance Blows

Discussion in 'Off-Topic' started by London, Apr 8, 2004.

  1. London

    London IncGamers Member

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    Car Insurance Blows

    So, I got my car insurance prices yesterday.... One month of full coverage for my 1994 Honda Civic EX is $438.12, and they still think its stock.

    This price is outrageous, I have 1 accident under my belt and close to 2 years driving time. I don't see how this is legal at all. Since I started paying car insurance, I have have paid twice what my car is worth, about $8000. I don't know what to do.

    Right now, I'm thinking of just getting liability, for $288.65 a month (Liability is the least coverage needed in Washington state). That is still like 3400ish a year or so. I don't see how they can do this, the accident combinded was about $1500 in damages to both cars. This is outrageous, legalizied extortion.

    I guess I'm just gonna park my Civic in my garage and get a REALLY crappy car, such as a Geo Metro or Prizm model and just get the lowest coverage and just say **** it.

    $438.12 for a year of full coverage is $5257.44, I made $7004.89. That is well over half of my funds just gone. Leaving me with $1744.45 of free money for the rest of the year.

    How can the insurance companies do this? All of my friends are paying at most 250 a month. When I turn 18, I'm shopping around for a better insurance company, because I honestly believe I'm getting ripped off. **** insurance companies. [/rant]
     
  2. th5418

    th5418 Banned

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    I have a question about insurance. Is it true that the longer you have your driver's lisence, the cheaper it gets? With no accidents of course.
     
  3. bigD72

    bigD72 IncGamers Member

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    1 accident in 2 years of experience gives them just cause to raise the rates, and it probably wouldn't matter what you drove, the insurance would be high. If you had 1 accident with over 20 years of experience I would be upset, but you don't.

    The thing is for your first five to seven years (depending on your company) rates continue to be high, but they drop once you have deemed yourself a safe driver. Having an accident in the first two years does not deem you as a safe driver. Therefore you are "accident proned" and need higher insurance b/c the company a.) won't lose money b/c you get in another wreck and b.) the next wreck could be costful to the insurance company and they don't want to lose money.
     
  4. London

    London IncGamers Member

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    Yes, that is true. I can definitely understand raising rates for getting in an accident, but when I paid insurance for the first time it was 3600 for a year of full coverage, now its almost doubled from one accident. This accident isn't going to go off my record for another 2.5 years.

    Another interesting point. My boss who has 3 tickets and 2 accidents, she is 22 years of age, drives a Saturn and she BARELY pays $110 a month for full coverage.

    th5418: Yes, even if you've been driving or not. You could be 25 when you start driving and from what I've read/believe you insurance would be cheap.
     
  5. bigD72

    bigD72 IncGamers Member

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    I don't know how your laws work, but the insurance may not have known about those wrecks or tickets, and the wrecks may not have been her fault. Was your wreck your fault? If it was that is reason c.)
     
  6. th5418

    th5418 Banned

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    So, if I get my drivers lisence early... lets say, 16 and don't drive until I am 21. Will my cost be lower than if I got my lisence at 21 and bought insurance then?
     
  7. Freemason

    Freemason Banned

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    I pay only $600 every six months for two vehicles. :D Gogo Geico!
     
  8. Kitana

    Kitana IncGamers Member

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    I'm 27, and a girl... and I haven't gotten any accidents, or gotten any tickets in the last 5 years. I just paid my insurance for 6 months - $210.33

    When I was 20, I rear ended this lady, and my insurance went up from $200/month to $600/month. That really sucked.
     
  9. faultless wonderboy

    faultless wonderboy IncGamers Member

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    I agree with you on this one, insurance is a sham. I made a thread about a situation I got into with my insurance company over a minor accident a while back. I basically got screwed as far as fault goes (I had the same insurance as the person who hit me, so it made more sense for the claims adjustors to say it was 50/50 and only give half the damage amount) and I pay full coverage to boot. You pay ~$480/month??? Thats insane, my wife and i pay ~100/month COMBINED for full coverage on our cars. You are getting screwed, but there is no way out, you gotta have it...I feel for ya man.
     
  10. cleanupguy

    cleanupguy IncGamers Member

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    Are you sure this is for one month? ONE MONTH?

    If so, then you are absolutely right. That IS outrageous.
     
  11. Vorzheva

    Vorzheva IncGamers Member

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    It's high because you're male and under...25 is it? still in school...had an accident.
    See me being female, i pay less than my brother, and i got in an accident that was my fault...they didn't raise the cost at all.
    Also, red cars increase it; if you took a driving class, and if you have good grades will sometimes lower the cost.
     
  12. Freet

    Freet IncGamers Member

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    1) You are a guy. Guys are considered less likely to drive safely.
    2) You are under 25. Young people are less likely to drive safely.
    3) You have already been in an accident. See above.

    The above are all well known statistics and cannot be argued.

    Tell me this. If a stranger walked up to you and said he would pay you to be financially responsible for anything he does while he's driving, he doesn't have much experience and he has already been in an accidenthow much would you want him to pay you for this service?
     
  13. tintrail

    tintrail IncGamers Member

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    guys i am not fully sure how the whole insurance thing works, but from what london says, he is still a teenager, and driving a car which is known for its souping up ability. from what he says, the company thinks it is stock, but im sure they are taking into account alot of factors, one being that he had an accident while a teenager.

    yes it is alot of money, so i think the best thing would be for him to get another 'crappy' car, and wait until his rates come down (ie when he is older, more mature, and hasnt been in an accident for quite some time)
     
  14. th5418

    th5418 Banned

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    Cough Cough. I really wanna know. If it does I'll get my lisence ASAP
     
  15. cleanupguy

    cleanupguy IncGamers Member

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    The only way for you to lower your insurance costs if you are indeed in high school is go under your dad's insurance or your mom's.

    That's the only way to cut costs for insurance. If the insurance is under your name, you will never be able to lower your insurance costs.
     
  16. maccool

    maccool IncGamers Member

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    Well, the fact that you're under 18 makes your insurance go through the roof. As well as the fact that your car is probably listed as a 'sports' type car. Plus, you're a dude. And if you live in the GSA (Greater Seattle Area), you are especially boned. It *does* get better. You'll get a better paying job and as you get older, your rates will go down a bit.

    Maybe shop around for better deals? Like Smeg said, GEICO is good. If you're military type, USAA isn't bad.

    It's gonna suck hard for awhile, sorry. You could always not drive. That would put your insurance at nil. I don't think that's your cup of meat, though ;)
     
  17. th5418

    th5418 Banned

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    So, it doesn't matter wether or not I get my lisence early, in the end it will cost the same ammount?
     
  18. zodiac66

    zodiac66 IncGamers Member

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    You are under 25, a male, and drive a "sports" car. Yes, civics are considered sports cars. I was going to buy one, but when I saw the rates, I said forget it.

    I doubt it very much that you are paying close to $450.00 a month for insurance. If you are, time to switch companies.
     
  19. mouschi

    mouschi IncGamers Member

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    Get under your parent's insurance, especially if they both have a car. If there are 3 or more cars on the plan you'll get a fleet discount. It isn't much but its something. Make sure the car's title is in your parents name (if you trust them) and don't get into any more accidents. Once you hit 18 your insurance will drop a little and once you hit 21 it will drop a lot. Of course, that all depends on whether or not you get in accidents or get tickets. Good luck not getting any tickets in your car, cops will be gunning for you just because of the big muffler and rims. I've been told by more than one cop that they just love pulling over tuner kiddies.
    What company told you that? Every company I've spoken to classifies them as econocars, and rightfully so.
     
  20. zodiac66

    zodiac66 IncGamers Member

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    State Farm.
     

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