Young Driver Insurance Cost, Crazy Rates.

[Crypto79]

I’ve wasted 100s of thousands on cars since I was a teen. I have had a lot of dope cars but all that money is mostly gone. While totally a case of do as I say not as I do, buy your self a vacation property with the money you are going to spend on the car and get a 6speed accord and drive the piss out of that
While you’re young. Not only will the accord make you invisible to cops, cheap to own and insure. You will get way more life props with the cabin in the woods that holds value than a flashy car. I have gotten laid way more for my beach house that has more than 3x in value than all my dope cars combined. if i had bought in my 20s instead of my 30s the house would be 5-6x the value and I would have had an extra decade at the beach where most of my best memories are from at this point.

Cars are Costs and drama, save those until later

food for thought

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[Cptnslo]

You’re 22 trying to insure a 50-60k rwd 2 seater sports car. Even without the accident and ticket what did you expect?

 

[Isaleus]

Few years older. Mine is 600$ for 6 months with a clean record in MI for 'full coverage' (every check box checked and 1k deductible) but I have fought every ticket I've gotten. And when I got rear ended, I never made a claim. Just sold off the car as the claim would've cost me more then the car was worth at that point over the long run.

I hear that Insurance keeps decreasing in price with a clean record until you are 25. But I do not know how accurate that is.

But 450-800 a month seems excessive is my 2 cents.

 

[Ruman]

I was paying a little under $200 when I was 24 with the Supra. A couple months ago once I turned 25 insurance dropped to about $160 a month immediately. Got a clean record and I think the deductible is $500.

Also spoke to my insurance company about a rate increasing I had a while ago and they said it was because of some other Supra drivers in my area around my age that were getting into accidents and getting tickets. Basically saying there are so many factors that affect insurance rates it is very difficult to compare. Best to just quotes from multiple companies to make sure you are getting a decent rate.

 

[Awales74]

I guess my dad was justified with all the yelling about my driving habits in high school. Sorry Dad.

I remember when I was about 18 how dumb my dad was. Then I remember a year or so after college how much I was impressed at how much he learned in only 5 or 6 years.

 

[SupraEffective]

IDK if this works anymore, but have someone older as the primary insurance policy.

I did this till I was 28 I'm currently 30 now. It saved me a lot of money as having someone older will make insurance waaaay cheaper. By myself I was paying 300+ same thing as you, speeding ticket and rear end. If you haven't go to traffic school and do it online, also do a DEFENSIVE DRIVING COURSE. It helps a lot too.

But check if you have someone older of age, maybe parent that can include you to their insurance.

 

[concept]

I remember when insurance companies would reduce the cost when you hit 25 years of age.
I bought a used 1968 Corvette convertible at age 21. Of course, no one warned me to check the insurance cost, first. Needless to say I was shocked that the annual amount was half the cost of the car for which I paid $5000.

Being the defiant youth that I was, I said to heck with insurance. That idea ended up in my being chased by the police, both in my car and on foot. As a former cross-country runner, that overweight cop didn't have a chance.
Eventually my license was taken away. I think I was 25 before I could afford insurance again. Would I do it all over again? Ohhhhhh yeah!

Side note: I'm retired and will pay $263/6 months for a new Supra. (if I were to buy one right now)

 

[BraveDemon]

Carriers set the premium based on risk factors.

Supra (I.e. expensive sports car) + 22 year old with accidents and tickets (likely a massive liability) = you gonna get raped on the premiums.

Generally applies to all types of insurance - if a business has terrible loss runs, good luck finding a reasonable premium with any carrier.

Edit: I guess I should say the only thing that really helps car insurance premiums get lower is just… to get old. Think my premiums dropped significantly when I hit 30, even more so when I hit 40 a year ago.

 

[Chong]

I'm at $1,500/6 months at 23 with a clean record and registered in the city. I would say that $450/month with that record is somewhat reasonable.
Title the car under your parents' names and add the car under their policy if you want to save on insurance.

 

[Bigboss]

if i were you id ask your dad to put the car under his name assuming he have great rates and never been in a accident, and you just pay the monthly cost of the car and insurance through him, or he doesnt trust you to do that?

 

[Teleguy11]

Just be glad you don't live in Florida. I'm insuring a '17 Highlander along with my '21 Supra. Both have full coverage and I'm 61 years old. Clean record with no DUIs, speeding or at fault accidents. $455 per month.
Ridiculous.
But welcome to Florida!

 

[FlammasWRLD]

if i were you id ask your dad to put the car under his name assuming he have great rates and never been in a accident, and you just pay the monthly cost of the car and insurance through him, or he doesnt trust you to do that?

My parents trust me, I Just have never liked taking handouts or owing anyone anything personally. I moved out as soon as I could and have made sure everything is in my name only. However, I might see what a quote under them would be based off what you guys have said.

Edit: hope that didn't come off badly. Used to be guilt tripped by them so I really don't like asking them for anything haha.

 

[Evolution]

You got a Costco membership? They use Connect for insurance and offer some pretty good rates. I went from like 220 a month for the supra alone to 160 a month for 3 cars once I switched.

 

[iResell]

I’m 23 live in Cali put my dads name for insurance and i’m listed as a driver. My rate is $180 a month but I don’t have any tickets or accidents !

 

[BraveDemon]

Just be glad you don't live in Florida. I'm insuring a '17 Highlander along with my '21 Supra. Both have full coverage and I'm 61 years old. Clean record with no DUIs, speeding or at fault accidents. $455 per month.
Ridiculous.
But welcome to Florida!

Wow that’s insane. That’s what I pay monthly to insure all 4 vehicles in our household.

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