Anybody willing to throw some advice my way? I'm twenty-three and I just got my license a little over a month ago. What should I do in regards to car insurance? My current premium is $3,057 for six months with 21st Century. They said they could bring it down to $2,532 with the good student discount. That is still an extremely large amount. It's more than my actual car payment. What should I do? Is this the best I'm looking at or do I have other options? What would you guys recommend? Any help would be appreciated.
The September 2015 issue of Consumer Reports has a long article on the wildly varying costs of car insurance, much of which is based on no good reason. They recommend checking with three companies which they found generally have the best prices: Amica, State Farm, and USAA (you need a military relative for this one). They also suggest doing comparisons at this site: Compare Car Insurance Rates: Fast, Free, Simple | The Zebra which compares a large number of carriers. Good luck getting your premiums down, and let us know how you make out!
Yes do a comparative, but being a new driver and male...your screwed for a couple of years on insurance. Statistics say your going to have a couple of wrecks, at least half your fault, and a few tickets in the next couple of years. Insurance Companies know these statistics and use them to set the premiums. Sorry...but the best thing for you to do is beat the odds with a good driving record and wait it out.
Get an address in the countryside that'll help a lot too. SM-N910T ? Perhaps get something without full coverage for a year or two save ya money and build up time with license. Or cheat like many guys with high powered cars do. Insure it with someone older with more years on their belt as primary driver. SM-N910T ? Not that I recommend that, but it obviously works for many folks. SM-N910T ? I also gotta ask, why wait 7 years to get your license? SM-N910T ?
Unfortunately you have several things working against you. The primary issue is your lack of time behind the wheel. Your premiums should drop as the years go by, which may bankrupt you in the meantime. I wonder if there is some type of driving school nearby where you can get reduced rates with successful completion. Good luck.
You shouldn't be driving a car that requires full coverage, get a beater that you can live with buying only liability coverage.
I figured that'd be the reasoning. But see you couldda got it cheap and easy at 18 and never used it. Oh well, hindsight is 20/20. SM-N910T ?
@mertechperformance I knew insurance would be pricey for a while. I never expected it to be 500 per month pricey. I was thinking it would be like 200 at most. @ftl So is that Zebra website reliable? I'm entering the exact information on there as I am with state farm, but I get $223 for the former and $387 for the latter.
Call one of the providers and see. Also don't laughter but try aaa. Cheap. Fwiw 200 is really low for male no experience unless you live in bfe. But ya insurance rates vary wildly from region to region same car, same driver. SM-N910T ? Also try playing around with deductibles. SM-N910T ?
So I tried AAA and the rates are substantially lower than all other insurance companies. Judging by your "don't laugh but try AAA" comment and the rates being much lower, I feel there is something wrong. @mertechperformance
I doubt it, they are seen as expensive but are often very affordable. They also may have quoted you a aaa flex policy which is for higher risk drivers. SM-N910T ?
THAT IS OUTRAGEOUS !!!!! DO THE RESEARCH, TO FIND OUT WHO HAS THE BEST PRICE. STOP SPEEDING. GET INSURANCE, IF YOU CAN, UNDER YOUR PARENTS POLICY & BY ALL MEANS, SIGN UP FOR A DRIVERS EDUCATION COURSE.
My parents insurance isn't an option. I have very limited contact with them. I'm on my own with this one. @Brutsie2
AAA offers a driver improvement program. If your state mandates a premium reduction upon successful completion you'll be way ahead. Your auto loan probably requires full coverage on the car. Increase the deductible to lower the premium, don't lower the coverage. If you are living with your parents get a quote for a family policy. Keep in mind that their insurance rate is lower because they checked the box that you have your own policy. AAA doesn't write insurance. In NJ they contract with Liberty Mutual. Liberty Mutual has a lengthy list of "discounts". The most common ones would be your employer or your school. Are you really getting a discount or is everyone else just paying more? Paying the premium for the term of the policy should be cheaper than monthly payments. Sign up at creditkarma.com and make sure that what is being reported is accurate. You'll see your credit scores and your insurance scores. Those with poor numbers are considered by many to be high risk. Shopping for insurance should be part of the car buying process. Every vehicle & person is different. The company that offers a low rate to me doesn't have to offer a low rate to my brother.
I haven't needed to try it myself, but unlike CR's auto reviews, I would trust their research on insurance. As others have said, make sure you're getting quotes for exactly the same coverage, and make a decision from there. You have to think one of them will be cheaper than what you have at the moment.
Just realized OP's location is Los Angeles so that may be part of it. Try an insurance broker or agency. These are independent agents that sell on behalf of several companies. My guy consistantly beats State Farm, All-State, etc. Currently have a policy with Travelers. Next year if the rates change he quotes it out with everyone and we switch. The broker does all the 'shopping'.
