Okay..I did an online quote with statefarm, filled out mostly true info (except I lied about owning a house..lol). Did a separate quote for a 2000 V6, 2001 Cobra, 2003 Mach 1, 2004 GT. Put the info for all 4 vehicles as the same, same mileage, purchase date, previous insurance coverage, daily travel/use, estimated mileage in next 12 months. And put all on the same insurance coverage.. $100,000/300,000/50,000, P10 PIP $500 deduct, $500 comprehensive and collision dedeuctable, 50000/100000 uninsured motor vehicle.

Time for the rates.

A V6 came to be $243.00/mo, which is about $20 more than what my V6 is now, but the quote has better coverage than what I have, and what I have now is under my family's policy.

A Cobra came to be $288 /mo

A GT came to be $311/mo
A Mach 1 came to be $311/mo


Now, how accurate are these things? Would it REALLY be cheaper to insure an 01 Cobra (which they said was a level 2 for the vehicle safety discount BTW..because of the IRS I wonder?) than a GT????? If so, I need to buy a cobra.

I saved the pages for all 4 cars and I'm going to show my dad tomorrow.

 

that does seem a little bit odd, hmmm you would think the cobra would be more expensive, then again it could be its age.

 

Do you think 3 years makes that big of a difference? Where's WN at, ain't he an insurance agent. lol

 

How old are you Pcola? I am super worried about insurance when i get the stang. Also if you stay on your parents plan it should be alot less with the multiple car and or home insurance policies.

 

I'm 18, and yes I would be on my parent's plan. I'll be 19 when I get a new car, though.

 

should be interesting when i get the stang in my name. I should be 22 by then.

 

1. Comp. Deductible should be no higher than $250 any agent that tell you otherwise is a moron.

2. Increase the Coll. Deductible. My Coll. deductible is $1,250. If you wreck your car, you were probably doing something stupid and deserve to pay a higher deductible. Plus it saves a ton of money.

Typically age doesn't matter (talking about the car.) Most cars all cost the same to repair, whether they are 20 years old or 5 years old.

The main factors of your insurance will be: Your age, Your Gender, Driving Record, and the statistical tendancies of drivers in certain cars. Statistics show that kids in 4cyl FWD cars are less likely to have a major accident, while just about any RWD car increases the likelihood of an accident pretty significantly. Doesn't matter if it's a car/ truck/ suv etc. All Mustangs are considered "high performance" with the exception of the sixxer, but the sixxer still has high rates because there are more of them and they have about the same amount of accidents.

Statistics show that the worst drivers are 74+ years old, but still pay less than us, go figure.
Slightly better = 16-20
Better = 21-25
Even Better = 25-30
and Best = 30-50
Then it starts getting worse again.

They do gauge slightly off of safety of cars, it may be that the Cobra has better safety ratings due to the Independant supsension that increases driveability, but I'd be willing to bet that the actual quote would be more than the one you got online.

If I was you, I'd head to a Nationwide agent. State Farm is doing extremely bad in Fla. as well as Allstate they are increasing rates as we speak at an average of 25-40% and in some extreme cases 100%.

Honestly, you're pretty fucked for the simple fact that you live in Fla. but I still think that you and your parents are getting ripped off..

 

I "get it" when i am 18 but it will still be in there name to keep cost down, so that is good to know pricing wise.
Another wieird thing about insurance, i am 16 and my truck insurance went down the second sixmonth contract on it but my rents insurance went up $600!! I really don't understand that one.

 

damn! i have 5 tickets, and an evo, and my rates are lower than that.

 

Not all cars cost the same to repair. That is a big factor in the rates as well. They see how much parts are for the car and what the repairs will be. By the way, when I traded in my 98 Eclipse GS (4cycl FWD) for the 2000 GT my insurance went up a whopping $40 every six months. Insurance claimed the eclipse was more expensive to repair and parts were harder to get. So that does play a factor.

 

Sorry, they lied to you. Eclipse = Small deathtrap that people drive like morons in and wreck all the time. It was just a high risk. Insurance is all about risk.

The only time when you will see an increase in premium due to cost to repair is in something like a BMW/ Lexus, etc. High end cars.

 

I want to know what other florida members are paying...

 

I'm curious about that too. I wonder why it matters where you live, unless it's a population deal.

 

i just did it for a 1997 cobra and it would be 195 a month for eveyrthing you did except the collision i put it at 1k. And i had a accident when i was 16 and totalled a van. 7k worth of damage to my stang lol....my car was quoted at like 14k so they fixed it instead aha wish they didnt because i only paid 9k for it no even a year before

 

Very interesting conversation There was a few key points that you all left out..
WN Racing was on target for the most part.

Location is everything for risk; Comp is higher in Colorado for hail, NJ is for theft. and so on… Also the damages/injury/theft/color is a big factor.

You are 18 to 25..you still in school? Having a kid is a big discount too.

Good Student discount is a huge savings plus mileage you drive per year, security systems, multi car discounts and yes owning a home helps to only means your more likely to pay your bill on time..

don't leave out the cost of your car (all of those mods)..LOL.. I cover my car as a non daily driver and is insured for 60K..cost 600.00 every six months in NJ Multi car discount 250/500/100- $1000 for DD and 100 HH, 250K medical and I get a check back every 6 months for driving responsible at 85 MPH..LOL

That is the short of it and we could spends lots of time on this subject, but don't cheat yourself on coverage to save a buck..have the coverage that is right for you...

 

oh yeah, jumping from Insurance company to insurance company makes the risk higher too...the 3 years with the same carrier can start saving money after that..

Your credit plays a roll on cost too..

 

Kind of figured that the comp risks would be fairly self explanatory, it's all run by statistics. That is why Honda Accords/Civics are still expensive to insure because they still get stolen quite frequently. Obviously a truck is a higher risk than a Geo Metro, if you plow through an intersection in an F-150 you're likely to cause a lot more damage than if you were in a Metro, on the flip side the Metro would probably be rated as a more dangerous car because of it's crash test ratings. It's a balancing act, really.

And by "color" do you mean skin color or the car, or what?? Because I'm not sure about your neck of the woods, but color doesn't matter one bit. (We don't even ask what color the car is. lol) That's an urban legend from what I understand, goes right along with the whole "bright colored cars get you noticed by the cops" etc.

Good job on the Liab. limits 250/500/100 is a respectable policy, and your outlook is dead on. Most of the "cheap" companies are just quoting state min. now, so buyer beware.

I don't think Pcola will be getting the good student discount anytime soon... Sorry, had to do it! haha

 

it will be about $95 a month that's what mine is

 

lower some of your things and raise a few your rates will go lower. All you really want since your 18 is full coverage but with minimum limits on most

Bodily Injury do: 100,000/300,000
Property damage: 100,000
UM/UIM: 25,000/50,000
UM/UIM Property Damage: 25,000
Personal Injury protection: 2,500
Comprehensive: 1,000 deductible
Collision: 1,000 deductible

and your not going to get away with the owning a home discount because obviously you don't own it haha. If your at school and renting an apartment or something that's usually a 15% discount with renters insurance and auto

 

remember quotes are estimates. my quote for an 05 GT vert under my own policy (20) was $153/month, i thought great! Reality is $220 a month on my parents policy, which is $70 difference. So, see what they really offer you.

 

Haha, I'm in college now and this is WAY easier than high school, so the student discount shouldn't be a problem. Not that it'd help me anyway.

 

So an Eclipse is the only 4cycl FWD car that is a deathtrap and people wreck all the time?So that kinda goes against your statistic you had stated about 4cycl FWD cars. Do you work for an insurance company? How do you know exactly what they look for.

 

I'm fairly certain he's an insurance agent. I'd even go as far as assuming he works for Nationwide since that's who he suggested, but I could be wrong there.

And for the record, "bright colored cars get you noticed by the cops" is not an urban legend. Not in this town at least.

 

Yeah I just realized that, he is an insurance agent. Oh well, my bad. All I know is that I switched to a 2 year newer car and 4 more cylinders and my insurance was only affected like an extra $40 every 6 months. I'm perfectly happy with my State Farm.

 

Well, since I am a multi-licensed agent and work for Farmers Insurance I would consider myself to be failry knowledgable about insurance. Not saying that I "know it all" but I probably know a fair share more than your average joe.

There are certain factors that go into calculating risk, obviously each manufacturer, and every model are going to have different statistics. Think about it, a 4cyl Toyota Corolla Sedan is most likely not going to be rated the same as a 4cyl. Elipse GS coupe. It's pretty simple really, people get into an Eclipse and think that it's a sports car and on average wreck alot more often than the person in the 4-door Corolla..

Do you really think that there is much of a differance in the cost to fix a Ford or a Mitsu?... No. For the most part labor/parts are calculated on an "average" cost for your area. Unless, like I said, you are talking about a high-end vehicle @ $50,000+..

 

I'm in Florida, 23, female, I have State Farm and I pay $110 a month for my GT and $80 a month for my 4 cylinder, one ticket.

 

Corrections made...

I recommended Nationwide because Farmers doesn't sell insurance in Fla. (thank god.)

 

^^ true, both family memebers of mine work at the home office of Allstate so I know a little bit about insurance as well. However, the more your willing to pay out of your pocket the less you pay annually. Think about it how many times have you had a tree fall on your car, flood damage, a bolder falling off the Rocky Mountains and falling on your car, and all the other relatively rare occurrences. For me never (knock on wood). If I had damage that was under the 1,000 I would just pay it out of my pocket and not file the claim. In the long run you would save money for not paying to insure the odds of a natural occurrence and if that were to happen normally you can spare the extra thousand bucks (if the damage totals that high). If its the situation where the tree falls on your car well, depending on how big the tree you may not be driving that same car anyway. I don't know the actual charge of comprehensive at the different amounts so you may be correct but thats just my opinion. I know there's a difference in the charge from 250-1000 but like I said I dont know the correct amount. You would probably know that one

EDIT: and that nationwide ad with the old people is funny, "Hit him in the head Rose!" haha

 

Yikes! I hope your family members are not disposable! As bad as Allstate is doing right now, I'd be scared shitless to work for them.

You can compare, but typically Comp is so cheap that it would make NO sense to have a deductible that high.

Example: My car, 2003 Dodge Stratus R/T

Comp: $240 Deductible = $62.50/6mo.

Comp: $1,000 Deductible = $50.00/6mo.

So, if the possibility of having to pay $1,000 is worth that $12.50 to you then feel more than freee to pay it! lol But to me, I'd rather pay an extra $12.50 ($2.xx/mo.) for the peace of mind that if some asshat steals my car or breaks my windows that I won't have to clear out part of my savings to get it fixxed.

Bottom line, the Most cost effective change you can make is a higher Collision Deductible. I probably save about $350/6mo. with my deductible @ $1,250.

 

Do you get a discount for being an insurance agent, Wn? Haha