KimchiHo

Hi all,
I have been doing some insurance shopping for my future s2k and have only found bad news because I have only been licensed for a year. I was wondering if anybody knew any local insurance companies that are reputable and offer good prices. I guess I'm willing to take a small hit on insurance service for a lower premium. I've tried all of the large ones like Geico, Progressive, and State Farm...they are either expensive ($4k) or don't even offer insurance to drivers with less than 3 years experience. Any help would be appreciated.
Oh, and I actually found a local place that was offering 12 months for around $2k (which is good for me ), but I heard that if the price is very low, there is always a reason. Is that true or should I just go for it? Please, give me your thoughts/opinions. Thanks again.

Dum Dum Head

Try http://www.esurance.com

I'm 21 with a clean record and I pay $587 for every 6 months for my S2000(which I bought myself) with esurance. For a comparison, I also have a Stealth TT under my Dad's name insured under State Farm and it's $950 every 6 months, which is down from $1200 every 6 months when I was 17.

Good luck, insurance is a killer for us young ones...

Chris
01 Yellow S2000
400hp 92 Stealth TT

nvmys2k

It's gonna pretty tough to get discount since you only have been driving for 1 year. Your DE (driving experience) is the biggest factor in determining premium...But good luck tho...Have you thought of having your parents buying the insurance for the car then put your name down as 1 one the drivers? Much cheaper if you go this route...

pellisS2k

DumDum, what are your deductibles and limits?

Dum Dum Head

for the S2000, it's $500/$500 for the deductibles. Then it's goes as follows:

Bodily injury: $50k per person / $100k per accident
Property Damage: $50k per accident
Under/Uninsured: $50k per person / $100 per accident

The only discounts I got was for the alarm and maybe ABS. No multi-car discount.

I guess it's kinda mid range coverage but it should do. The Stealth's insurance has higher coverage and $250/$250 deductibles but since it's under my dad's account, it also has a few more discounts.

KimchiHo

Yeah, it'd be nice if I could have the car under my parent's name, but they live overseas. Paying for this car on my own is looking more and more difficult...haha. This is by far the dumbest thing I can do coming out of college. But, you only live once. Support me guys!

dillehay

Pellis asked the right questions...

If you raise your deductibles to 1000$ then you would likely save some coin. Think of insurance as protection against catastrophic incidents. If you file claims often, which is more likely to happen with lower deductibles, then your rates are likely to adjust upwards over time. From the insurance company's perspective, you are expensive to cover. If you look at insurance as protection against more major incidents, then a $1000 deductible makes sense and saves you money. If you have a scratch in the paint or a chip in the window or some other small occurance, and you are short on cash, then you can put it on a credit card. The long term impact of doing that is far better than filing a claim and having your rates go up.

Some insurance companies also have special clauses which permit you to get a window replaced, etc even though you have a high deductible. The window replacement at no cost is to avoid visual hazards from cracks. There are other hazards that qualify under the same types of clauses, I believe.

So, all this being said, it might be worth looking at how much changing your premiums would change your costs and your situation. I'd bet that the premium differences also vary with each insurer.

My $.02,

-DD-