Insurance Rip-off is driving me away!

Shakerhood said:

If that is the case then they should be charging rates like that for silly Honda Civics! If they are so bad and so fast, they are also deathtraps because they are so light. That would help balance out the cost of insuring cars!

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Nobody steals a honda civic.

I don't know about your insurance company, but they tell US how to set it up for the best rate. My mom or dad is on my Stang, I'm on the Focus or something and the other parent is on the Accord. Finally, my little brother, who is likely the most regular driver of the focus, is the occasional on the honda or something. If there's an accident, there's no way to prove which car they normally drive or who is the actual primary. Just no way, so even the insurance companies help out in getting their best rate because a little less money for them is still a lot more than ZERO if you go somewhere else.

5-SpeedStallion said:

I don't know about your insurance company, but they tell US how to set it up for the best rate. My mom or dad is on my Stang, I'm on the Focus or something and the other parent is on the Accord. Finally, my little brother, who is likely the most regular driver of the focus, is the occasional on the honda or something. If there's an accident, there's no way to prove which car they normally drive or who is the actual primary. Just no way, so even the insurance companies help out in getting their best rate because a little less money for them is still a lot more than ZERO if you go somewhere else.

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I'm not trying to be a dick but...

this is what the salesperson said. They want to close the deal. They realize that million to one this will never be an issue and if they say otherwise, they will lose the sale to the salesman who does. Salesmen NEVER EVER EVER want to introduce FUD in their own product.

However if there is a fatal accident involving a multi-million dollar lawsuit, rest assured if the lawyers can show that the policy is null and void or reduce their monetary obligation - they are going to do it.

I am sure this is probably common practice. I know people who did the same when I was younger (cough). However just because you and others have gotten away with it, doesn't mean that if push came to shove they would not get screwed because they twisted the facts.

Companies are not in business to be altruistic and forgiving. They are in business to make money.

$4500 for full coverage insurance on a 05 GT for a 20 year old sounds right.

I pay $2500/year for full coverage and I'm 37 and married with a perfect driving record. This is in California (around Los Angeles). It will vary depending on where you live.

Well I'm 21 (been driving for 4 years) and i got quoted from my insurance company (state farm) 155 per month with full coverage on the gt mustang
that comes to 1860 per year

Thats with a good student discount, good driving record, multi car discount
and i'm the only on my current car as will i be when i get the 05 mustang

so that seems really high to me

Welcome to the boards!
What color is your new 05?

Buy him a honda.

KingDiamond said:

Make the insurance have you listed as the regular driver of the car and the rest of the family as occasional.

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With the car titled in his 22yo daughter's name, would that really make a difference?

Also, with a 20yo unmarried son, living at the same address as the sports car is kept, will have a definite effect on rates.

Blu Angel said:

Both my kids have perfect driving records, having driven for 6 yr and 4 yrs respectively. Both took driver educational courses including classroom instruction. Yet, the insurance companies only see a 2 door sportscar being driven by twenty-year olds.

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I am sure that this was all taken to account in the rate quote. Otherwise, it would have been even higher.

Much higher.

sapperstang78 said:

Buy him a honda.

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loser

Driving records are not the only thing that Insurance companies use to base a rate quote. They also use the credit reports of all the people that will be driving the car, or atleast the main policy holder. Not all insurance companies do this, so ask around if that is the cause for the high rate.

The quote seems REALLY high. If I remember right, women get a big discount at 21, and guys get it at 25. This was why I wated until I was 25 to get my frist stang.

Shop around, talk to insurance company about getting all your policys with one. I have allstate for my house, my cars, and my personal policies, and they take 10-20% off each for multiple policies.

I would not recomend that you lie about who is the main driver. It is quite easy for an insurance adjuster after an accident to look in the car and tell if a 22 year girl, a 20 year guy, or an adult is driving. Just look at the CD's!

What is strange is that the difference between a V6 and V8 is only a couple hundred....usually it is A LOT more.

FYI: I am 28 with a 02 GT, plenty of speeding tickets, and had my first serious accident since I was 18 this past year...and my insurance if only 1800 a year, that is double what I paid last year since my accident!

shop around for the best deal. I always had AAA and had no claims. I was moving to VA to take a job with the Fed Gubment and had just bought a new F150. I went straight to AAA down there for a quote and was blown out of the water. Even higher was State Farm. I ended up with GEICO, which was 1/2 the AAA quote. To this day, none of the rate setting makes any sense to me. I just don't understand it.

Hell I don't pay that damn much on all FOUR of my vehicles combined. I'm 31 and married and I only pay $363 every 6 months on my GT and only $376 every 6 months on my NEW 2005 mustang. Shop around with other insurance agents and see what they say . Sounds like this one is full of

I was 22, when I bought my first brand new mustang. It was a V6, and cost me $1400 Canadian / year. (I live in Saskatchewan)

My current Mustang costs me about 1600, and it will be about the same for the 05GT that is comming.

Infact, I insure my mustang, my camper, and my winter car (sunbird) for less than half of that, here.

you HAVE to put you or your wife as the primary driver. c'mon guy