Why can’t I get a decent car insurance premium?
Tuesday, July 28th, 2009 at
12:14 pm
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MrPreston asked:
I am a 27 year old male with no points on my licence, its been six years since any kind of accident, I have never been pulled over and given a ticket in my life. It seems that no matter what kind of car or what location Im in I can not get a good car insuarance rate. At one point I was paying over $4000 a year. I recently did an inquiry to see what it would cost to insure a 99 toyota tercell with an alarm, various anti-theft devices and in a state that is known for having lower cost insurance, plus it would only be for work and less than 10,000 miles a year in driving. I was quoted $209 a month! Other than one accident 6 years ago, I have a spotless driving record, why are my insurance costs so crazy?
Thanks for all the help everyone, but I forgot to mention that the $209 is just for liability with a $2000 deductible. This is with many different Ins companies. I think I am just unlucky.
Gregory
I am a 27 year old male with no points on my licence, its been six years since any kind of accident, I have never been pulled over and given a ticket in my life. It seems that no matter what kind of car or what location Im in I can not get a good car insuarance rate. At one point I was paying over $4000 a year. I recently did an inquiry to see what it would cost to insure a 99 toyota tercell with an alarm, various anti-theft devices and in a state that is known for having lower cost insurance, plus it would only be for work and less than 10,000 miles a year in driving. I was quoted $209 a month! Other than one accident 6 years ago, I have a spotless driving record, why are my insurance costs so crazy?
Thanks for all the help everyone, but I forgot to mention that the $209 is just for liability with a $2000 deductible. This is with many different Ins companies. I think I am just unlucky.
Gregory
Tagged with: 6 Years • Car Insuarance • Matter What Kind
Filed under: Insurance & Registration
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Karl
because of your accident 6 years ago!!!!!!!!!! You are a high risk driver to them.
Lloyd
How’s your credit?
Mitchell
Where do you live? and which company did you check with?
Tom
have you kept continuous coverage, if not, that can raise your premiums. Also, I heard somewhere that insurance rates don’t drop for a guy until 30. Sorry!
Clifford
That is crazy!! Have you tryed all different Insurance companies…there is no reason it should be that high!
Dennis
Unfortunately, insurance premiums are calculated based on demographics by an actuarian. His job is to calculate the odds of an accident claim based on 27 year old males, with your income, in your area of the country. Apparently the odds must be high…
Scott
That does seem high. My brother is 27 too and has had accidents and his isn’t that high. Have you tried Progressive Insurance? He’s been using them since he was dropped by his other insurance company a few years ago. I also switched over to Progressive because they have really good service.
Gilbert
It’s partly b/c you are a male. If you would have taken driver’s ed or a defensive driving course. I am a 21 year old female and i got a quote on a 2008 nissan altima, which I never got, and it was like $150-160 a month, my boyfriend can’t seem to understand it either. But I have more than a 3.0 gpa and insurance companys take that under consideration, I had my license for 3yrs and took driver’s ed in H.S. All of this stuff matters and I live in NY so go figure that. Call the insurance companies and see what it is you hav to do to get a cheaper quote. They are probably going to tell you to take a defensive driving course though.
Hope this helps!!!
Neil
The insurance companies perform what is called actuarial analysis, which tells them how much of a risk you are. They take everything about you… single white male 27, 180 pounds, employed as a chemical engineer, driving the car to work and on weekends, etc,… lots of details about you, plug them into a computer that calculates statistics, then they give you a quote. They really do this, at the top of my insurance bill it gives details for each driver for each car they drive. If you get married, buy a house, and have children your car insurance would probably drop because you would be perceived as being mature and responsible and therefore less risk. If you are single young white male in a Toyota, that would probably lump you in with the import street racers.
Pearl
If you go to a new insurance company, they always charge way more. If you stick with one for a while, they tend to come down. At least that’s how mine was. I had Allstate for years and years and it was cheap. I lost my job and went without insurance for a while. When I went to finally sign up again, they wanted a freaking fortune. Then they finally said they’d put me on Allstate Indemnity or something — which was a high-risk branch of Allstate. It was still expensive.
Try Progressive or Geico. I finally went with Progressive. They were a couple bucks more than a “no-name” brand off the internet.
Don’t know if it’s worth your trouble, but I went home and got insurance through my old home town agent. They were about 1/4 the price. It helps to know someone instead of being just another anonymous moneybag to someone.
Katherine
You live in a red lined area, probably…
Check to see what the car theft and accident rate is in the area that you park your car at night….also check different insurance companies… where I live State Farm was Twice what AAA was… because a red line boundary was 3 blocks west….
redlining is illegal, but all companies do it….
Gladys
Give them a try they’ll give you a bunch of quotes from many different providers with different coverage plans.
Mark
I can only assume you have no insurance at the point in time you are asking about insurance, which automatically puts you high risk. That’s why you don’t let one policy lapse without having another in place. Anytime you answer that you don’t currently have a policy, your rates go crazy.