Insurance

[cunaginc]

Okay guys. This is a stupid kid question so please post away. I am a 16 year ols boy who bought a marauder. Before I bought it we checked with the insurance guy and he said that LIABILITY would run for ME when I was 16 about $500-700 every six months. I got my restricted lisence and now have to add me to the policy. My father calls and nearly s@$? His pants. With no discount liability insurance is $4000 a year. With various discounts we get it half off. But still that's $2000. I'm just wanting to know how bad or good others rates are. Prior to adding me to the policy they were paying 244 every six months. Just wondering

[fastblackmerc]

Okay guys. This is a stupid kid question so please post away. I am a 16 year ols boy who bought a marauder. Before I bought it we checked with the insurance guy and he said that LIABILITY would run for ME when I was 16 about $500-700 every six months. I got my restricted lisence and now have to add me to the policy. My father calls and nearly s@$? His pants. With no discount liability insurance is $4000 a year. With various discounts we get it half off. But still that's $2000. I'm just wanting to know how bad or good others rates are. Prior to adding me to the policy they were paying 244 every six months. Just wondering

Did you call your insurance agent and ask?

"Car insurance companies profit by providing coverage to drivers who will never need to use it. When you sign up for a policy, the insurance company agrees to pay for damage to your car from an accident according to the specific coverage you purchase. Since most drivers will pay substantially more in premiums than they will cost in claims, the insurance company is able to make a profit. Some drivers are considered “high risk,” meaning that they are more likely to get into an accident and thus will cost the insurance company. High risk drivers pay higher premiums than low risk drivers in order to offset any claims on their policy. The same reasoning applies to young drivers. Car insurance companies consider drivers under the age of 25 to be high risk, due to a number of factors:

New drivers are not yet comfortable driving in all situations and conditions, and may not have the reaction time to avoid an accident; because driving is a learned skill, drivers with years of experience are often less likely to be involved in a collision.
Students often need to park their cars in unsecured school parking lots where they may be stolen or vandalized
Young drivers may engage in risky behavior like speeding or running red lights more often than older drivers
Teenagers and college students are often more likely than older adults to partake in drugs and alcohol, increasing the likelihood of driving under the influence.
Statistically, young drivers are involved in more accidents each year than people over 25.

Of course, not all young drivers are unsafe and it may seem unfair to paint them with such a broad brush. Undoubtedly, thousands of young drivers are both safe and conscientious, with just as many older or experienced drivers routinely being involved in accidents. Unfortunately, car insurance companies have no way of knowing how a person drives without having access to his or her driving history. Individuals who have been driving for several years or decades with no history of accidents or citations will be viewed as lower risk and thus will pay lower premiums. Young drivers, or people with no driving history, have nothing to vouch for their skill."

[mercury5]

Usaa for me and the family, 3 cars full coverage with 17 year old, $189 month, loving it:banana:

[justbob]

I'm 41 with discounts and no tickets/accidents so any numbers I throw at you won't qualify for a fair comparison.

With that said, I pay around $251 for 100/300 full coverage every six months through State Farm.

Sometimes you are much better off getting estimates from multiple well established companies. Sometimes it is even cheaper than being a rider on your parents policy..

I think I met you and your father last year in Louisville. Just a heads up, the dates for next years Louisville meet are April 9-12th. This is a year you do NOT want to miss..


Builder Of Badassery

[jwibbity]

I have full coverage on both cars for me and my wife and I pay about 90 bucks a month with USAA

We are both 24 years old.

[drac]

I'm 26 and pay $240/MO for 2 cars with full coverage on each through Geico. 100/300 full coverage on the Vic and 500/500 on the other (Nissan Sentra)

When you are younger (like you and even me) and have either NO driving history, or a history that has accident(s) or tickets on your record, you pay for it. I don't like my rate, but it is what it is.

I also have about $12,000 worth of modifications reported to my insurance for my Vic, and have an accident and ticket on my record. My vic is even listed as a pleasure vehicle with 5K miles/year... Which isn't me trying to shiest my insurance agency.. My Sentra is my DD and the Vic is driven now and then weather permitting.

[Bluerauder]

Okay guys. This is a stupid kid question so please post away. I am a 16 year ols boy who bought a marauder.

You are probably in the highest risk category there is for car insurance. Young driver, restricted license, no experience and high performance vehicle. Rates are going to be high no matter where you go. JMHO. And liability minimums are only part of the equation.

[jmsa540]

Usaa for me and the family, 3 cars full coverage with 17 year old, $189 month, loving it:banana:

USAA: Full coverage for four cars: $238 a month.

[Shaijack]

What????? We have to insure them?

[2,4shofast]

USAA is awesome for claims service as well, I had them for 10 years and had 4 cars and 2 houses insured with them. They just didn't offer collector car insurance so I went with other companies and actually got a lower rate.

Try calling progressive for insurance, when I was young they were the cheapest I could find.

[fastblackmerc]

What????? We have to insure them?

Insurance :dunno:...

Who needs stickin' insurance:confused:

[Bluerauder]

USAA is awesome for claims service as well, I had them for 10 years and had 4 cars and 2 houses insured with them.

I've had USAA for the past 42 years. Never a problem with claims of any kind. Quick, easy, efficient and friendly service every time. When the Taurus was rear-ended a little more than a year ago, it was in the USAA approved repair shop within 5 hours and I had a rental car for the duration of repairs.

I pay $153.00 per month for 3 cars on the current policy. The newer '12 Taurus SHO is nearly $60 per month, '03 Marauder is $47, and the wife's '06 Freestyle is $46.

Collision and Comprehensive is just about 50% of those amounts. The rest is in Liability 100K/300K/50K, Medical 10K, Uninsured Motorist, and Rental/Transportation coverage.

[2,4shofast]

I've had USAA for the past 42 years. Never a problem with claims of any kind. Quick, easy, efficient and friendly service every time. When the Taurus was rear-ended a little more than a year ago, it was in the USAA approved repair shop within 5 hours and I had a rental car for the duration of repairs.

I pay $153.00 per month for 3 cars on the current policy. The newer '12 Taurus SHO is nearly $60 per month, '03 Marauder is $47, and the wife's '06 Freestyle is $46.

Collision and Comprehensive is just about 50% of those amounts. The rest is in Liability 100K/300K/50K, Medical 10K, Uninsured Motorist, and Rental/Transportation coverage.

Yeah it really pained me to go elsewhere for coverage, they just couldn't provide the collector car insurance I wanted for the Marauder. I still kept the rest of my business with them because they do everything very well, banking, investing etc. Hopefully they will get collector car coverage in the future as I would love to go back to having them for coverage.

[Bluerauder]

Yeah it really pained me to go elsewhere for coverage, they just couldn't provide the collector car insurance I wanted for the Marauder. I still kept the rest of my business with them because they do everything very well, banking, investing etc. Hopefully they will get collector car coverage in the future as I would love to go back to having them for coverage.

Not to mention the Subscriber's Savings Account benefits after all those years. :D

[jmsa540]

I, too, am very pleased with USAA. Been with them for five years.

[cunaginc]

I think I met you and your father last year in Louisville. Just a heads up, the dates for next years Louisville meet are April 9-12th. This is a year you do NOT want to miss..


Builder Of Badassery

Yeah from what I've scene so far it will be a show

[Spectragod]

I pay (really I'm scamming Barry for the money) $700 a year, -0- deductible, 45k stated value policy, only 4 more year till I can get my license.....

[CHSurvivor]

first, Id like to know how a 16 yr old got his hands on a MM while I waited to be 42...lol

My son just turned 16, in Ontario Canada it is graduated licensing. G1,1 yr, then G2 for 2nd year(after passing tests) and then full G license.
I was told as a occasional driver to add him to my insurance is $1000 per year.
I called and asked about insurance for his car. A 79 Malibu V8. its is $5000 per year.
Which is silly because in Canada you HAVE TO have 10 years driving experience to have classic car insurance no matter what the age. But in USA no age restriction.
Secondly we argued his car is only drive to car shows, cruise night, nice sunday drives. The car hasn't seen rain since we built it.
His insurance will be over $400 a month. so you have nothing to complain about.
We are told his rates will be this high minimum 2 years. He will have to pay it and keep a perfect record and eventually his rates will go down.
I pay $87 a month on my MM. my MM only sees nice weather days. I be lucky to put 5000 a year. but its too new to get the classic car insurance rate.
Congrats on the car kiddo. Good for you but you have nothing to complain about.

[justbob]

IIRC this is his second MM purchased at 15! Both bought for insane low prices. Good taste! :)


Builder Of Badassery

[cunaginc]

I got the one that I'm driving now ,first ,for $2000 and had to put new axles in it. They snapped in half at the bearing. And the other I got at auction for $750 for a parts car. It had four good wheels and drove so I took every usable part off and stored it. I got really lucky

[jmsa540]

dang, that is lucky!!