Hey everyone, I'm wondering what you pay for insurance, coverage, vehicle, and age. I'm 19, turning 20 in the summer and have a clean driving record. The cheapest full coverage plan I have found is about $1200 for six months for a 03 Ram SLT two door, 4x4, 5.7. I haven't tried the quote on my parent's policy, this is all under my name. I was going to get an 01 Trans Am WS6 but the insurance was around $1300 full coverage, six months. But I will be selling my Stang this summer so I need a practical car now all year, thus the T/A won't work. Now, what I don't understand is why a car that is more "dangerous" is only $100-200 more for six months. I don't see why I'm still getting raped on insurance even when I've never even gotten a parking ticket! I've been driving for three-four years.

 

I have a 2005 Ram 1500 SLT 4x4, no tickets or wrecks in the past 3 years, 27 years old, single male

$750/6 months (full coverage)

Although when I was your age, my insurance ran me about $1200/6 months. Outrageous insurance premiums are one of the many, many disadvantages of being under 21.

 

turn 25 and you see your premiums cut in half

right now I have full coverage on my two trucks and $35K renters insurance and I'm paying about 1100 through USAA

being in the military has it's few advantages

 

I pay $1100/6 months for full coverage on my 2004 Hemi QC 4x4. I'm 22, and that's with one accident resulting in a ticket that was about a year ago. My insurance went down a decent amount when I turned 21, but I'm still waiting to hit 25. Drew's right, that's seems to be the magic age for insurance companies...

 

Wow. Those rates seem really high. I just got my insurance bill in the mail after adding my new truck - 2005 Ram 2500 QC SLT 4x4. The rate is $452.83 every six months. That's with $50,000/$100,000 bodily injury and $50,000 property damage - $500.00 deductible on comp and collision. I'm a 33 year old married male with a clean driving record. From the looks of the other rates here, I can't help but wonder if my insurance agent made a mistake.

 

Well, my premium is a bit higher, but I am single, and I also have 100/300 bodily injury

Insurance is all one big scam anyway. You pay and pay and pay for years, and on the off chance you ever make a claim, they jack your rates up.

 

All I have to say is thank God I will be 25 in 1.5 months. Mine right now is $1200 every six months.

 

WOW I pay $1200 a year on a 05 4X4 Hemi. But I'm also 30 ;-P. J/K wait till you guys hit 25 then it will go down. Thats not the what seems to be age, it is the age insurance companys go by for premiums. It is based on statistics.

 

I hate insurance. With the loan I want to get, I will be looking at about $400-500 a month with insurance tied in. I will pay the insurance off right away, so it won't be too bad a problem. But damn, I thought getting a truck the rates would be a lot cheaper than a T/A. I have pl/pd on my Stang, and it's only $36 a month, under my parents' name.

 

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.