Cheaper Insurance

okiepolkie
okiepolkie Posts: 2,258
edited March 2024 in Clubhouse Archives
Well, today is 25 for me and my car insurance will finally go down.

I guess that is a pretty good birthday present.

The other good thing about being born on V-day is that the gift thing kind of cancels out for both of us. We went out to a nice dinner on Saturday to avoid the Monday crowd while the MIL watched the little one.

Hope you guys(and gals) have a good V-day.
Tschüss
Zach
Post edited by RyanC_Masimo on
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  • F1nut
    F1nut Posts: 50,734
    edited February 2005
    Happy Birthday!

    Now that your car rates are going down, you'll find that your health rates start going up....LOL.
    Political Correctness'.........defined

    "A doctrine fostered by a delusional, illogical minority and rabidly promoted by an unscrupulous mainstream media, which holds forth the proposition that it is entirely possible to pick up a t-u-r-d by the clean end."

    President of Club Polk

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  • Tour2ma
    Tour2ma Posts: 10,177
    edited February 2005
    Happy Birthday, Zach...
    More later,
    Tour...
    Vox Copuli
    Better to remain silent and be thought a fool, than to open your mouth and remove all doubt. - Old English Proverb

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  • okiepolkie
    okiepolkie Posts: 2,258
    edited February 2005
    Now that your car rates are going down, you'll find that your health rates start going up

    Doh!:eek:

    Thanks guys.(no sarcasism with the thanks though)
    Tschüss
    Zach
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  • jdhdiggs
    jdhdiggs Posts: 4,305
    edited February 2005
    Man, I got married 4 days after I turned 25. It was $600 cheaper to insure both my wifes and my car than just my car 5 days prior. Effin bastages!
    There is no genuine justice in any scheme of feeding and coddling the loafer whose only ponderable energies are devoted wholly to reproduction. Nine-tenths of the rights he bellows for are really privileges and he does nothing to deserve them. We not only acquired a vast population of morons, we have inculcated all morons, old or young, with the doctrine that the decent and industrious people of the country are bound to support them for all time.-Menkin
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  • ohskigod
    ohskigod Posts: 6,502
    edited February 2005
    samr here, after i got married, it took me a while to merge mine and my wife's car ins policy. should have shot myself in the arse for waiting. huge drop overall when i got one policy for a married couple. Paid much higher rates for 8 months for no reason whatsoever (except for laziness:D _)
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  • wodom1
    wodom1 Posts: 1,054
    edited February 2005
    I'm only 23, but when I bought my new car this past April, my insurance company gave me the 25+ rate (or so they say) due to my exemplary driving record. It's pretty affordable now, but it would be really nice if it went down even more.
    "I got into the music business thinking it was really radical, that it wasn't really a business at all, that it was a lot of people being artistic and creative. Not true, and it made me very depressed."

    Thom Yorke of Radiohead

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  • Demiurge
    Demiurge Posts: 10,874
    edited February 2005
    Originally posted by wodom1
    I'm only 23, but when I bought my new car this past April, my insurance company gave me the 25+ rate (or so they say) due to my exemplary driving record. It's pretty affordable now, but it would be really nice if it went down even more.

    I'll be 25 on May 7th and have a perfect driving record and my rates are horrible. Yes...I've done a ton of Insurance shopping too...who do you use?

    *Edit*

    NM...USAA
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  • brettw22
    brettw22 Posts: 7,623
    edited February 2005
    Insurance is an outright scam. Never ONCE have I seen one of these mythical rate drops for turning either 25 or 30. It's a crock and I'm likely to never see one of them I believe.

    I'm with AIG right now and they're actually cheaper than what 21st Century was, but they go back 5 years for my driving history instead of 3 like pretty much everyone else. That irks me to no end actually......

    Granted, I do NOT have a pretty little driving record.......
    comment comment comment comment. bitchy.
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  • ntculenuff
    ntculenuff Posts: 1,146
    edited February 2005
    keep checking in with your ins co about every 6mos or so and see if you can qualify for any discounts i have 2 cars(96 jeep grand cherokee and 2001 audi A6) insured with full coverage low detuctables on both and only pay $95 a month.
    things like:
    audible alarm
    part time vehicle
    collage alumni
    student
    saftey features: air bags, abs
    been holding the policy for awhile
    crap like that. i always call my broker she knows me pretty good now.

    i love my ins company
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  • jdhdiggs
    jdhdiggs Posts: 4,305
    edited February 2005
    Originally posted by Demiurge
    I'll be 25 on May 7th

    Good day to be born! :D
    There is no genuine justice in any scheme of feeding and coddling the loafer whose only ponderable energies are devoted wholly to reproduction. Nine-tenths of the rights he bellows for are really privileges and he does nothing to deserve them. We not only acquired a vast population of morons, we have inculcated all morons, old or young, with the doctrine that the decent and industrious people of the country are bound to support them for all time.-Menkin
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  • Early B.
    Early B. Posts: 7,900
    edited February 2005
    Insurance is an outright scam. Never ONCE have I seen one of these mythical rate drops for turning either 25 or 30. It's a crock and I'm likely to never see one of them I believe.
    Damn straight. Anybody ever seen the actuarial figures to substantiate the higher claims costs for drivers under 25? Hell, elderly drivers are the most dangerous age group on the road. Are their insurance rates higher? NO! Wanna know why? -- because they vote.
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  • Willow
    Willow Posts: 11,056
    edited February 2005
    One thing that works for us is that we take the bus to work, we drive about max 5k a day to and from the house to one of the transit hubs. My insurance guy said thatsince we don't drive to work our rates have gone down quite a bit. We pay 17$ mth for our 2004 matrix. He told me it's a dumb rule as on your day off you can drive right by your but it doesn't count cause you are not driving it to work.

    Ask for discounts that your office might have some kind of deal with your INS comp.


    To prove this I have 13330 kms on our car whic we got late Jan 2004.
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  • tryrrthg
    tryrrthg Posts: 1,896
    edited February 2005
    Originally posted by Early B.
    Damn straight. Anybody ever seen the actuarial figures to substantiate the higher claims costs for drivers under 25?

    I HAVE! :D

    I'm an actuary. Our youthful drivers are terrible and most of the "sting" comes off around age 20 and gradually declines. We actually surcharge rates for the elderly too.
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  • Tour2ma
    Tour2ma Posts: 10,177
    edited February 2005
    Originally posted by brettw22
    Granted, I do NOT have a pretty little driving record.......
    Kind of an important factor... don't cha think... ;)
    More later,
    Tour...
    Vox Copuli
    Better to remain silent and be thought a fool, than to open your mouth and remove all doubt. - Old English Proverb

    "Death doesn't come with a Uhaul." - Dennis Gardner
    "It's easy to get lost in price vs performance vs ego vs illusion." - doro
    "There is a certain entertainment value in ripping the occaisonal (sic) buttmunch..." - TroyD
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  • PhantomOG
    PhantomOG Posts: 2,409
    edited February 2005
    Originally posted by Tour2ma
    Kind of an important factor... don't cha think... ;)

    exactly. my rate when I was 24 was $1000+/ 6 months to just about $500 when i turned 25. everything else was exactly the same, just the age difference.

    i have no tickets, no accidents and no claims whatsoever. can't wait till i get married later this year and see what my bill drops to then :)
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  • wodom1
    wodom1 Posts: 1,054
    edited February 2005
    I pay $92/month, which includes both car and renters insurance. I think my car insurance comes out to $77/month for comprehensive/collision coverage with a $500 deductible on my '02 Dodge Durango. I don't know how that compares to anyone else my age, but it seems pretty good to me. I drive a ton of miles too. I bought my car in April with 28k and already have 58k!

    Josh
    "I got into the music business thinking it was really radical, that it wasn't really a business at all, that it was a lot of people being artistic and creative. Not true, and it made me very depressed."

    Thom Yorke of Radiohead

    SOPA. Bow down before me, ****. Want a cookie?


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  • Early B.
    Early B. Posts: 7,900
    edited February 2005
    I'm an actuary. Our youthful drivers are terrible and most of the "sting" comes off around age 20 and gradually declines.
    If that's true, then shouldn't insurance rates gradually decrease at age 20 instead of 25?
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  • tryrrthg
    tryrrthg Posts: 1,896
    edited February 2005
    Originally posted by Early B.
    If that's true, then shouldn't insurance rates gradually decrease at age 20 instead of 25?
    It depends on the company. it is a gradual thing but it the rates really start coming down at 25. I think the reasoning is at 25 MOST people are over their "I'm invincible" stage. of course MOST people are responsible drivers from the age of 16 but it's too bad they get stuck paying for those that aren't. That's the name of the game in auto insurance.

    Most companies are using your credit history to rate you for insurance now. It is a VERY good predictor. We offer VERY substantial discounts to good credit people. So if you want cheaper insurance keep your credit in check. just an fyi...
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  • Early B.
    Early B. Posts: 7,900
    edited February 2005
    Most companies are using your credit history to rate you for insurance now. It is a VERY good predictor. We offer VERY substantial discounts to good credit people. So if you want cheaper insurance keep your credit in check. just an fyi...
    A very good predictor of what -- your auto liability? Smells fishy to me. Most people in America (esp. low income earners) have f&*ked up credit.
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  • Tour2ma
    Tour2ma Posts: 10,177
    edited February 2005
    Low income = poor credit rating??? Not buying that... but low income does need definition...

    I can see credit rating being a measure of responsibility in action... and that certianly applies to driving...
    More later,
    Tour...
    Vox Copuli
    Better to remain silent and be thought a fool, than to open your mouth and remove all doubt. - Old English Proverb

    "Death doesn't come with a Uhaul." - Dennis Gardner
    "It's easy to get lost in price vs performance vs ego vs illusion." - doro
    "There is a certain entertainment value in ripping the occaisonal (sic) buttmunch..." - TroyD
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  • Early B.
    Early B. Posts: 7,900
    edited February 2005
    I can see credit rating being a measure of responsibility in action... and that certianly applies to driving...
    This statement is a logical leap. In many instances, credit ratings has nothing to do with responsibility. For instance, people with no or minimal credit history, elderly people on fixed incomes, a messy divorce for a housewife, a guy that's gotten laid off and has gotten behind on his mortgage, etc. In terms of those with low incomes, it doesn't matter how responsible you are, if you have financial difficulty with acquiring the basic necessities for your family (food, clothing, shelter), I'm sure to can imagine the challenges inherent in establishing and maintaining a high credit score.
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    "God grooves with tubes."
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  • Tour2ma
    Tour2ma Posts: 10,177
    edited February 2005
    Not that big a leap...

    You're quick to cite circumstances that can lead otherwise responsible individuals to a bad credit rating, and I can't argue with you there.

    However, on the filp side, I can see where people who have high ratings, who are fiscally responsible, also acting responsibly on the road. If for no other reason than to protect one of their significant assets, their vehicle...
    More later,
    Tour...
    Vox Copuli
    Better to remain silent and be thought a fool, than to open your mouth and remove all doubt. - Old English Proverb

    "Death doesn't come with a Uhaul." - Dennis Gardner
    "It's easy to get lost in price vs performance vs ego vs illusion." - doro
    "There is a certain entertainment value in ripping the occaisonal (sic) buttmunch..." - TroyD
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  • brettw22
    brettw22 Posts: 7,623
    edited February 2005
    Credit ratings being used is ONLY done for financial profit by the insurance company. Using someones scores to judge them in all aspects is MUCH different than charging someone with the same qualifications (ins. deductible, living area, driving record, etc) totally different rates for the same policy.

    It's ****, and there should be some MAJOR overhaul on the ways that Insurance companies twist things to stuff their pockets.
    comment comment comment comment. bitchy.
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  • Demiurge
    Demiurge Posts: 10,874
    edited February 2005
    Originally posted by jdhdiggs
    Good day to be born! :D

    Got the same B-Day? :)

    It's a Saturday this year. I'll drink to <i>that</i>
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  • Jstas
    Jstas Posts: 14,842
    edited February 2005
    There are a few tricks to car insurance.

    One thing to do is to find out the criteria that your insurer uses to determine your rates.

    My rates are determined by engine displacement, wheelbase and miles driven. Since the engine is only 5.4 liters and the wheel base is a short 118" (for a truck), I get away with having a vehicle that is just as fast and handles just as well as a Camaro or Mustang and it's $1500 a year cheaper to insure it than a comparable pony car. Nevermind the fact that it is putting out over 400 horses and almost 550 pound feet of torque or that it has a 2000cc super charger on top.

    Another thing you have to find out is your billing cycle. Some companies give rate reductions if you pay a lump sum every year or have less payment increments. Instead of paying monthly, you can save some dough paying bi-yearly or yearly. Less payments means less processing costs and they will usually pass that savings on to the customer in the form of less fees.

    As far as rate reductions go, my insurance went UP when I turned 25. It didn't drop until I got married. I was paying about $3300 a year for just my truck. Got married, switched to my wife's policy and that dropped to about $2400 a year for full coverage for BOTH vehicles.
    Expert Moron Extraordinaire

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  • saguppy
    saguppy Posts: 44
    edited February 2005
    So can anyone recommend some insurance companies for people under 25?
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  • Early B.
    Early B. Posts: 7,900
    edited February 2005
    As far as rate reductions go, my insurance went UP when I turned 25. It didn't drop until I got married. I was paying about $3300 a year for just my truck. Got married, switched to my wife's policy and that dropped to about $2400 a year for full coverage for BOTH vehicles.
    Wow, that's high. I'm paying abut $1,650 annually for two cars here in GA. Does NJ still have the highest car insurance rates in the country?
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  • Jstas
    Jstas Posts: 14,842
    edited February 2005
    Originally posted by Early B.
    Wow, that's high. I'm paying abut $1,650 annually for two cars here in GA. Does NJ still have the highest car insurance rates in the country?

    No actually, it's not. It's below average for NJ.
    Expert Moron Extraordinaire

    You're just jealous 'cause the voices don't talk to you!
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  • George Grand
    George Grand Posts: 12,258
    edited February 2005
    Jersey's not bad, if you have a normal vehicle.

    George Grand (of the Jersey Grands)
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  • brettw22
    brettw22 Posts: 7,623
    edited February 2005
    I think I live in one of the highest markets.......gotta love the Mexico border.......
    comment comment comment comment. bitchy.
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