I turned 16 back in September, and got my license in December. The vehicles in my sig are not titled in my name, they're in my dad's--for insurance reasons. But the insurance company called a few days ago and for my 23 year old truck, that use to be $70 for 6 months is now up to $250 for 6 months. My Mustang use to be $130 for 6 months, now its up to $700!!! What gives??? Sure, they just found out that I got my license but this is crazy for not even having a vehicle in my name. I might have to park my car for the summer just because of this. Does anyone know of any classic car type insurance that is cheaper than this? I don't drive it in the winter months anyways. Thanks for listening, just needed to vent a little.

 

Even though the vehicles are titled in your dad's name, your still on the policy which is why the rate went up. The way 99% of insurance companies work is they assign the youthful operator (or youngest driver) to the highest rated vehicle (being your mustang most likely).

You may be able to get your F100 on a classic car policy, but I'm not sure about the mustang.

Just make sure you keep your foot out of the pedal for whatever your driving and don't get any tickets or accidents and you'll be fine. As for the cost altogether, about the only thing you can do is check around for the whole policy with your dad to be moved. If you go to a policy by yourself, your rates will probably be a lot higher

 

You can inquire about good student discounts as well. If you pull over a 3.0 GPA in most cases they'll lower your rate.

 

Insurance is very is expensive. Ask some of the guys on here how much they pay for insurance on their new diesels. Unfortunatly, insurance is even more expensive when you are a minor. Most insurance companies try to keep you on your parents' policy until you are in your twenties! Don't ask me why though.

Insurance companies love sports cars. People drive them fast and wreck them up and it gives them a bad rep in the insurance world. Allstate considered my sister's Neon as a sports car because it was a two door model and she ended up switching companies.

What kind of policy do you have? Try raising your deductibles or even getting rid of collision or comprehensive seem so they're older vehicles. Then don't drive stupidly and watch out for others. If you do wreck up the car, it'll be your lost, but you'd save a lot of money on insurance going that route. I've had some nice older vehicles that weren't worth a whole lot without much insurance and never had problems.

Try switching companies and check out Allstate's website for a quote.


P.S. I saved a lot of money on car insurance by not going with Geico!

 

Darn!! I was hoping to get to use that line!

As far as the insurance is concerned, though, I found that an umbrella policy can save you a ton of money, especially after a few years.

 

lol he's right about geico

 

Don't get me wrong. I DID get a great rate from Geico, and they are a reliable company, but when I married my wife I went over to State Farm under her umbrella policy- that she has had for about 15 years- and Geico not only couldn't touch it, they weren't even in the same ball park!

 

Most of the insurance companies I know of are slamming it to everyone because of all the money they lost due to:

9/11 & The Enron Scandal

Unless they can show 5 Billion $$ profit at the end of the year they consider it LOSS.


One thing you can do is tell your teenage friends who drive and get tickets or in a collisons ...to drive responsibly and quit becoming a statistic.
Those are the people that help raise YOUR insurance rates.

 

My truck's insurance is from First Auto something or another, and my car is with Progressive. I told my dad about the 'high GPA-lower rate' thing but he said that was already figured in. What exactly is an umbrella policy? One more thing, how long does it take before the rates will start going back down? I'm guessing probably when I turn 18 as long as I don't have any accidents.

Oh well, I'll try and forget about it and enjoy having my car and truck. I'm lucky to have anything at all, so I really shouldn't complain.

 

I hate to be the bearer of bad news, but the rates probably won't go down much until you are 25.

 

1. Progressive can be a bad company. You have to have pretty good credit and a good driving record or they will place you in their non-standard tiers which can be pretty expensive. As an alternative, you might try having them both on the same policy. If they are the only 2 vehicles on the policy, you may get a multi car discount.

2. the way I understand it (and it could be wrong) an umbrella policy to put it very simple is a policy that covers your home and autos for an increased amount (we'll say $1,000,000) in the event that you don't have enough home or auto insuance to cover it. For instance, if I were to trip walking up your steps and my medical bills exceeded what your home policy would cover, your umbrella could pick up some of the slack.

3. I agree with the above. You probably won't see a rate decrease until you turn 25. If you have taken a driver training class in school within the past year or 2, you may be able to get a discount for that.