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Discussion Starter #1 (Edited)
1. Don't lie on an application. This is about the worst thing you can possibly do. If you lie, you'll get caught at some point. You'll then be cancelled/declined, and that will follow you around for years. You'll notice on each application, there is a question something along the lines of, "Have you ever been denied insurance or had a policy cancelled before?"

They'll check. They'll also pull your MVR (Motor Vehicle Report). They'll also likely run a CARFAX on your vehicle to see if it has been involved in any prior accidents.

2. Pick the highest deductible that you can afford. This is difficult for many people to comprehend. Many times, people will choose $500 or $1000 deductibles because it makes the premiums very attractive. Unfortunately, when you get into an accident (your fault or not), you then have to pony up the deductible (unless the other carrier pays for your damage). As an adjuster, one of the most common complaints that I'd hear is, "Well, I don't have $1000 in the bank to repair the car. The accident wasn't my fault. What are you going to do about it?"

Unfortunately, the answer typically is that the adjuster is not going to do anything about it, aside from try to get your deductible back from the responsible party, either by the process of subrogation (one insurance company going after another) or a lawsuit if the person is uninsured. Neither guarantee success, and in most cases, the adjuster is going to require that
your vehicle be fixed prior to taking any action against a responsible party because, if we do it beforehand and the repairs cost more than the demanded amount, the insurance company is out that additional money.

So, the rule of thumb is as follows: If you don't normally have $1000 in the bank, then don't take the $1000 deductible. If you really only have $500 or $250 in the bank at any one time, choose that as your deductible amounts.

3. Know the value of your vehicle. Many people throw out thousands of dollars per year on useless insurance. A good and honest insurance agent will help you determine if you need Comprehensive and Collision insurance. A less-than-good agent (not necessarily dishonest, but let's leave it at inexperienced) will write you up any coverage you want without asking money-saving questions and also check insurance companies current price at insurance-quote-free.com
 

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Great Writeup. #2 makes perfect sense, yet I hear of people getting the highest possible deductable all the time.
 

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brentm said:
Great Writeup. #2 makes perfect sense, yet I hear of people getting the highest possible deductable all the time.
its so they can afford the insurance to start with. the lower the duductable, the more you pay.


i would add that for young people its very impostant to make good grades (A-B) and take drivers-ed in school.

good grades will lower your rate
taking drivers-ed will lower your rate

if you use one insurance company for all your insurance needs (life, car, home, renters, etc.) you will get a cheaper rate (package deals i guess)

and of cource not having any tickets will keep your rate low. with a clean record, you will see a good drop when you turn 25, and another bigger drop when you turn 30. at 40 (my age) the rate falls through the floor. good, i have 6 vehicles so a few dollars saved here and there really adds up by the end of the year.

me being an old man with no wrecks or tickets (knock on wood), i have pretty cheap insurance. but having more then one vehicle also gives me cheap insurance (for each ride, not overall). none of 'my' vehicles are daily drivers (the wifes wagon is the DD) so my rides are rated/classed as occasional use vehicles.

$254 a year for a huge ass V8 4x4 is daaammmnnnnn good :)
$222 a year for my 3rd gen is also really good. to compair these occasional use rates to daily driver rates, my wifes wagon is $480 every 6 months (full coverage)... over twice what the other vehicles cost.
 

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On liability I pay (now) 1200 a year for 5 cars on liability. With 2 cars on full coverage (250 deductible) and 3 cars on liability I would pay (starting next month) 2000 a year.

In my area that's not bad....especially for my age (22 with 3 tickets and no accidents).
 

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The Good Stuff
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Great write-up. Especially for someone like me without much experience dealing with that. I only have liability but that's all I can afford being a teen male...
 

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Memento Mori
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If you have a clean record, try an get insured by pemco once you turn 23. I was with Geico paying about 1200-1300 a year for liability (Prelude and Accord). Switched to pemco and still paying 1200 but now it's for full coverage on both cars, pretty sweet.
 

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Is that Allstate accident forgiveness program worth anything? Right now we have 4 vehicles with Farm Bureau so we kind get a lil discount.
 

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CADster said:
$254 a year for a huge ass 4x4 is daaammmnnnnn good :)
$222 a year for my 3rd gen is also really good. to compair these occasional use rates to daily driver rates, my wifes wagon is $480 a year (full coverage)... over twice what the other vehicles cost.
wow dude i pay 217 a month for my insurance on just my lude, but then again I'm a single 22 year old male with a reckless driving and speeding ticket and an at-fault accident THAT WASN'T MY FAULT. Last year some woman pulled in my driveway and hit my parked car, then called her insurance company and told them I backed into her..... THE CAR WAS OFF AND IN PARK. But my insurance company filed it against me anyway, and now that I found out only 2 months ago its too late to do anything about it. Oh well I guess
 

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my insurance sucks...255 for liability on my lude although i'm 18 and have 2 tickets and 2 at-fault accidents.
 

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they wont fix a salvage titled car if its in an accident.
(or ive never heard of it being done)

what may help the ones paying 2400 a year is to get another car.
some automatic econo box thats not worth much anyway. make this your daily driver and make your lude an occasional use vehicle. the lude rate will fall through the floor and if the daily driver is 'economy' enough, it may be less having two cars like this then your only car being a high rate sports car.

and the 480 for the wifes car is every 6 months, not year. my mistake.
 

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haha theyll never know the truth about your grades, muwahahahahahahahahahaha!!!!
 

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Take a defensive driving class, only last one sat 9-4 and can reduce your insurance up to 15%. I did it and it saved me some cash.
 

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instead of gettung full coverage just get "other then collision" it covers everything except if the accident is ur fault... such as hail, if someone keys ur car, stolen cars, almost everything... saved me alot of money!!
 

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we've changed the insurance on my car lately.. it was 224 every 6 months on my 01 base.. the car never gets driven unless it's pretty outside, so it gets less than 7500 miles (it might be an allstate thing), but we can put it on a "non-daily driver" type deal... like a leisure vehicle. it's still covered, but it's cheaper since it's not on the road as much.
 

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teamable said:
haha theyll never know the truth about your grades, muwahahahahahahahahahaha!!!!
our insurance (ALFA) give us a piece of paper every quarter to have signed by the school.

i guess you could forge it, but thats not wise.

if by chance the insurance find out. they can cancel you. may even charge you with fraud.... i dont know.

the smart thing to do is just make good grades...
 

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91lude4ws said:
my insurance sucks...255 for liability on my lude although i'm 18 and have 2 tickets and 2 at-fault accidents.
That sucks, but what do you expect being so young with 4 strikes against you? I'm paying almost $1900/yr. with no accidents/tickets and I'm 21...I don't mean to talk stuff or sound like a parent or anything, but you should've learned to wise up and drive more responsibly after the first ticket. I know I did after being pulled over for running a stop sign late at night that I thought was "optional", and of course a cop was hiding right around the bend (and on top of that, didn't have my new insurance card in the car either). Didn't get a ticket, but got a good lesson in responsibility. I know I had my days of racing friends at 100+ mph on the highway when I was 17-18, so I'm not trying to say that I was a perfect angel of a driver or some pussy who was afraid of the speed or the cops, but I've matured since then after taking on the responsibility of car payments and insurance on my own. It's amazing how much you mature in just a few short years...

About the insurance and deductable choosing...any driver should understand that they are liable to pay the deductable amount before the insurance coverage kicks in. You have to figure out how much you can cover in one shot at any given time in case an accident occurs vs. how much you can afford in terms of monthly payments. Low deductables might be good for those who have newer/expensive cars to repair, while higher deductables might suit those who don't drive much or who have older cars that wouldn't be worth repairing. Much more factors into the equation than that, so it's not just a matter of seeing how much money you have in the bank to cover a deductable.
 

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whereismycheeze said:
couldnt you just tell them its a car for pleasure and not a daily driver...having that car only insured.. making it cheaper? pm with answer..
My car is listed as a pleasure car (will only drive about 7k miles a year tops) and it doesn't really make that big a difference in the premium. Age, type of car, and driving record are the main factors.
 
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