What do you pay for insurance?
#11
02-25-2005, 12:10 AM
RE: What do you pay for insurance?
ORIGINAL: jrobcet
I feel your pain. I always drove old junkers when I was younger mainly because I could never afford the insurance on a nice truck. Hang in there - in a few years your rates should drop drastically (as long as your driving record is still clean).
I talked to my agent again today just to verify the premium and coverage on my new truck. While I was there I decided to ask for more information on how rates are determined. For the most part I knew what she was going to say, but a few things did surprise me:
Being married can get you a substantial discount (I never thought it really made much of a difference) - she claims that, according to past claims statistics, married people are less likely to drive irresponsibly.
Placing restrictions on your policy such as "no unmarried drivers under the age of 25" can sometimes save you a little money.
Some insurance companies will also give lower rates to if you have a child. She claims that people, even those under the age of 25, are normally more cautious with a child in the vehicle.
Your credit rating can influence your insurance rates. This is just one more reason why people (especially males under 25) get nailed with higher rates. She claims many people under the age of 25 generally have below average credit - usually because they haven't had much time to establish a good credit history.
The bottom line, according to my agent, is that those under the age of 25 (especially males) will always pay substantially higher rates regardless of their driving record. She said the two most important things younger people can do is to keep a clean driving record and NEVER, EVER let your insurance lapse.
This is all according to an Allstate agent - YMMV.
I feel your pain. I always drove old junkers when I was younger mainly because I could never afford the insurance on a nice truck. Hang in there - in a few years your rates should drop drastically (as long as your driving record is still clean).
I talked to my agent again today just to verify the premium and coverage on my new truck. While I was there I decided to ask for more information on how rates are determined. For the most part I knew what she was going to say, but a few things did surprise me:
Being married can get you a substantial discount (I never thought it really made much of a difference) - she claims that, according to past claims statistics, married people are less likely to drive irresponsibly.
Placing restrictions on your policy such as "no unmarried drivers under the age of 25" can sometimes save you a little money.
Some insurance companies will also give lower rates to if you have a child. She claims that people, even those under the age of 25, are normally more cautious with a child in the vehicle.
Your credit rating can influence your insurance rates. This is just one more reason why people (especially males under 25) get nailed with higher rates. She claims many people under the age of 25 generally have below average credit - usually because they haven't had much time to establish a good credit history.
The bottom line, according to my agent, is that those under the age of 25 (especially males) will always pay substantially higher rates regardless of their driving record. She said the two most important things younger people can do is to keep a clean driving record and NEVER, EVER let your insurance lapse.
This is all according to an Allstate agent - YMMV.
#13
02-26-2005, 05:14 PM
Professional
RE: What do you pay for insurance?
$574 for six months for my '01 2wd Ram 1500, 41 year old driver with a good record.
And thats if I pay the whole bill at once, if you pay in monthly increments its $681.
I get a $106 discount for sending the whole payment at once.
and thats right too, insurance is just a legal rip-off industry.[:'(]
And thats if I pay the whole bill at once, if you pay in monthly increments its $681.
I get a $106 discount for sending the whole payment at once.
and thats right too, insurance is just a legal rip-off industry.[:'(]
#14
02-28-2005, 01:49 AM
RE: What do you pay for insurance?
I'm 19 and pay $75 a month for my 2000 Ram 4x4. As far as my record, I have no accidents, and the 7 or 8 moving violations I've gotten over the years never went on my record. But the truck is in my parent's name, so that's why it's so cheap (can't say the same for the loan 
)
)
#15
02-28-2005, 01:29 PM
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RE: What do you pay for insurance?
Mine is $1200 every 6 months...and I'm 20 yrs old. 21 comes in may where I should get a small discount....cant wait for 25, LOL. This too is for full coverage, and I have one speeding ticket from about three years ago, not sure if thats a factor.
All you younger guys....I dont know what the cutoff age is, but there is a program you can buy for like $100 called Teen Smart, if you go through it most insurance companies give you a discount....mine was about $400 a year. It also lasts for a few years, so you only have to go through it once. I'm glad I did that last year, although the program is retarted, its worth the time and money.
All you younger guys....I dont know what the cutoff age is, but there is a program you can buy for like $100 called Teen Smart, if you go through it most insurance companies give you a discount....mine was about $400 a year. It also lasts for a few years, so you only have to go through it once. I'm glad I did that last year, although the program is retarted, its worth the time and money.
#16
02-28-2005, 09:35 PM
RE: What do you pay for insurance?
I pay about $550 a year for full coverage on a 04 ram qc. I have a great package. I have a 04 ram, 02 T&C, and a 96 Dakota all with full coverage plus my homeowners all for $2000 a year.
#17
02-28-2005, 10:22 PM
RE: What do you pay for insurance?
ORIGINAL: UrbanRedneck
I'm 19 and pay $75 a month for my 2000 Ram 4x4. As far as my record, I have no accidents, and the 7 or 8 moving violations I've gotten over the years never went on my record. But the truck is in my parent's name, so that's why it's so cheap (can't say the same for the loan )
I'm 19 and pay $75 a month for my 2000 Ram 4x4. As far as my record, I have no accidents, and the 7 or 8 moving violations I've gotten over the years never went on my record. But the truck is in my parent's name, so that's why it's so cheap (can't say the same for the loan
)
#18
02-28-2005, 11:24 PM
RE: What do you pay for insurance?
One thing that i find funny is that many younger people think they are better off on parents policies but this is not always the case. When i met my wife she was 19 and on her mothers policy. I got her on her own and she save $500 a year. The most important thing is to shop aroiund. A big part of why i have owned new vehicles the last few years is becuase my insurance is so low.
#19
03-02-2005, 12:40 AM
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RE: What do you pay for insurance?
My wife and I pay about 1100/6 mo. for a 2004 Ram 4x2QC and a 2004 Explorer 4dr. We are both 24 and have clean driving records (knock on wood!). We are also in South Florida and insurance is really high down here.
#20
03-05-2005, 03:38 AM
RE: What do you pay for insurance?
ORIGINAL: _JB_
My parents will probably co-sign on my loan, so with their name I can be insured under a "second driver"? I wonder if that would be cheaper than just my name, since I would have to pay for their insurance then too.
My parents will probably co-sign on my loan, so with their name I can be insured under a "second driver"? I wonder if that would be cheaper than just my name, since I would have to pay for their insurance then too.
Well I have StateFarm, and the way it works is that if I am on the policy for any of my parents cars, I am covered by all of them. So the Ram's insurance is the same price regardless of wether or not I drive it. The one policy that actually has my name on it (and the jacked up price as result) is my dad's and mine '74 Dodge Dart. We picked it because it's the cheapest, I hink that with me on it it's like $300 every 6 months, but being on there means I'm insured on it, my truck, my dad's Magnum, and my moms GTP.
