Insurance question?

[Nagare]

When you're bundling them up it doesn't scale as badly. I figure once I hit 25 next year I should get a nice decrease, but right now in South Florida I'm paying just under $200 a month (including Progressive's pay in full discount) for full coverage (not quite as high as Kevin above though) with loan payoff.

If the 25+ discount is nice enough, I'll definitely be upping my coverage though.

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[FranzVonHoffer]

When you're bundling them up it doesn't scale as badly. I figure once I hit 25 next year I should get a nice decrease, but right now in South Florida I'm paying just under $200 a month (including Progressive's pay in full discount) for full coverage (not quite as high as Kevin above though) with loan payoff.

If the 25+ discount is nice enough, I'll definitely be upping my coverage though.

I understand if you let them GPS your car you get a nice discount.

 

[Shouldhavegotthegt]

I'm going to get a quote staying on their insurance vs my own. And we'll go from there. Geico is actually a little over $100/month on my own. Progressive wanted over $200/month. And Gecio has accident forgiveness for my accident that happened.

If geico is forgiving the accident I wouldn’t even both calling any other companies. Any other company is going to rate you on the accident. One of the reasons why companies offer accident forgiveness. It keeps you there until the accident is no longer rateable which is 5 years in NC.

Also it is always going to be cheaper being on your parents vs being on your own. They get better rates, muticar and multi driver discounts, etc. it’s kind of like comparing living on your own vs staying with your parents. Always cheaper but you don’t want to be living in their basement when your 40. If it’s around $100 for a brand new mustang on your own with decent deductibles get your own policy. If it was $300-400 than stay on theirs.

 

[Zelek]

If geico is forgiving the accident I wouldn’t even both calling any other companies. Any other company is going to rate you on the accident. One of the reasons why companies offer accident forgiveness. It keeps you there until the accident is no longer rateable which is 5 years in NC.

Also it is always going to be cheaper being on your parents vs being on your own. They get better rates, muticar and multi driver discounts, etc. it’s kind of like comparing living on your own vs staying with your parents. Always cheaper but you don’t want to be living in their basement when your 40. If it’s around $100 for a brand new mustang on your own with decent deductibles get your own policy. If it was $300-400 than stay on theirs.

I got cut off after college. I wish I could have rode the parents train longer... lol.

 

[Ebm]

Some of the rates I'm hearing here are crazy high. Sheesh, almost $2k a year for insurance. Hopefully mine stays low. (*Knock on wood*)

Part of the problem is the value of the car. My boost isn't as valuable as a 2018 GT. I can't imagine how much that thing will cost an insurance company if it got into an accident. I mean a taillight on the Mustang is like $1000 by itself.

Also, that whole insurance rate going down when your 25 is bs these days. Don't expect a big decrease when you turn 25. You won't get one. Ask me how I know.

 

[Nagare]

I understand if you let them GPS your car you get a nice discount.

Yeah Snapshot lets you get up to 30% discount but I don't take a half mile to brake from 30-0 for red lights or turns so it wouldn't get me much of a discount and I'd hear lots of beeping based on what other people with the program have said.

 

[Moostang83]

I work in insurance. You can quote anytime and switch anytime, you aren't locked in and any over payment for premium will be returned. As for your rate it'll depend on allot of things like tickets and how bad they are, accident history, age, state/ county you live in and so on. My advise is shop around and try to stay with a semi reputable company (youll be better off should a claim occur). I live in FL and pay 80 a month when you do the math. My company has discounts for paid in full and advance quoting, so itll vary. But deals are there.

 

[hlh1]

I'm paying $900 per year for my 17 GT with $500 deductible and I thought that was bad. I'm old and married.

 

[sbrenskell]

I use Geico and their rates are pretty good. It's about $108 a month with a $500 deductible on collision where I am and that also includes mechanical breakdown insurance. I could lower it more by raising that deductible and removing the mechanical breakdown but I chose not to. I'm 33 years old.

Just be glad you're 25. If you were 20 or younger, you'd get killed on a quote.

Also, if you have any amount financed, the bank will want to see it covered by insurance most likely the day you drive it away. If you're paying cash, you'll just want coverage for legal reasons the day you drive it off. Can't hurt to do some insurance shopping right now, but Geico has treated me well for years.

I'm paying cash.. And yes I won't drive off the lot without getting it insured. I'll sit in the parking lot of the dealer if I have to and wait till I get it done.

 

[canyon ed]

Check out Wawanesa.

 

[Austinj427]

I'm not sure about geico but I do know that a lot of other companies give you a discount for quoting in the future.

If a quote is only good for 14 days with Geico, I would probably get a quote at least 10 days before the effective date to make sure you grab that discount.

Do you still live with your parents?

 

[Shouldhavegotthegt]

I'm paying $900 per year for my 17 GT with $500 deductible and I thought that was bad. I'm old and married.

Why would think that is bad!? $900/year on a $40k sport car.

 

[FranzVonHoffer]

Why would think that is bad!? $900/year on a $40k sport car.

Yeah, that's what I was paying on my 195 hp BMW Station wagon.

 

[hlh1]

Why would think that is bad!? $900/year on a $40k sport car.

Very good point, but it's twice what I pay for my wife's Accord. I know, they're not in the same league. I should count my blessings.

 

[Fatguy]

Yeah, I got hit with a (wait for it) 175% increase in my premium so I had to jump to another carrier. All due to Harvey.

If I factor in inflation my insurance is still slightly less than it was when I was 24 but it's more expensive relative to the penalties.

Today, I pay around $2400 a year, with one at fault and no tickets.
When I was 24 I paid $1500 a year with three tickets and an at fault accident.

2,184.00 per year with a 2,500.00 deductible for a 2017 V6 Mustang with no accident or tickets and 58 years old. This is in Toronto. Nobody races or stunts in Toronto, the insurance and fines for racing (in the thousands I believe) with car empounded and licence revoked immediately for a week. It just sucks in Toronto. Some kids spend like 600.00 a month for insurance here. Say a prayer for us. Buying a GT in Toronto is just for posing. :(

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