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Car Insurance:Ouch?

dispatch.odispatch.o Registered User regular
edited February 2009 in Help / Advice Forum
So, I finally got around to getting a license about a year ago, the very week of my 28th birthday. Yes, I know it was stupid to wait so long, but some folks don't have parents who will do anything to help them out, or friends willing to risk their driving record.

How I got it isn't so important at this point, however browsing insurance prices I will essentially never be able to afford to drive. The insurance cost of a 10 year old Honda Civic for me is well over 4.5k/year. From what I have read this wont be going down anytime soon.

Is there anything I can do at all? It seems sort of ridiculous. I am a single male in the San Francisco bay area. I don't plan on staying here much longer, will that help at all? I've asked a couple people at work and they seem to think that's the biggest problem, male under 30 single bay area. Even folks who have been driving since they were 16 say California cities in general are insane.

Edit: That's around 400-450$ a month when I get a quote at monthly rates, some higher but none lower. I can barely afford to exist in this place without a car or insurance payment, just too much for now and in the immediate and short term future (2-3 years). If I go back to school I will have even less money available.

dispatch.o on

Posts

  • CycophantCycophant Registered User
    edited February 2009
    Location makes a HUGE difference in Insurance rates. I would bet the US isn't any different, but stranger things have happened.

    As an example, I looked at motorcycle insurance a few years ago. My previous location, in a large city in a populated province, meant a quote around $5k a year. I currently live in a small city, in an isolated province, and it's $500 a year. It's an extreme example, but good proof that insurance definitely varies with location.

    Whereabouts do you think you'll be moving to?

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  • dispatch.odispatch.o Registered User regular
    edited February 2009
    Cycophant wrote: »
    Location makes a HUGE difference in Insurance rates. I would bet the US isn't any different, but stranger things have happened.

    As an example, I looked at motorcycle insurance a few years ago. My previous location, in a large city in a populated province, meant a quote around $5k a year. I currently live in a small city, in an isolated province, and it's $500 a year. It's an extreme example, but good proof that insurance definitely varies with location.

    Whereabouts do you think you'll be moving to?

    The Nashville, Tennessee area.

  • RUNN1NGMANRUNN1NGMAN Registered User regular
    edited February 2009
    What kind of coverage are we talking about here? That seems ridiculously high. I just bought a brand-new CR-V, live in the DC area, and my insurance is about $700/year.

    If you could post a breakdown of what kind of coverage you're getting quotes on, and what your deductibles are, that would help a lot.

  • EggyToastEggyToast Registered User regular
    edited February 2009
    Insurance is higher if you don't have a history of having a license, but that does seem absurdly high. I would suggest skipping the phone quotes and online quotes, and finding a local agent and talking to them in person.

    I live in Baltimore and one of the odd things about the area is a prevalence of row houses, most of which have flat roofs that are mostly tar. However, insurance companies unfamiliar with rowhouse regions consider it a "commercial-style" roof, or something, and don't cover it -- they only cover shingle roofs. So my wife and I had a heck of a time finding a homeowner's insurance company that would even talk to us. We ended up just going to a local agent who would, essentially, look at all of the available companies and be able to give us a range. Their rates were identical, or less, than the quotes we were getting ourselves, so we were a little confused as to how they actually made money... but we didn't really worry about it because, again, it was a good deal and we didn't have to dick around with agents on the phone who didn't know what we were talking about.

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  • mcdermottmcdermott Registered User regular
    edited February 2009
    RUNN1NGMAN wrote: »
    What kind of coverage are we talking about here? That seems ridiculously high. I just bought a brand-new CR-V, live in the DC area, and my insurance is about $700/year.

    If you could post a breakdown of what kind of coverage you're getting quotes on, and what your deductibles are, that would help a lot.

    Yeah, even with no driving history and even being in a large metro area that sounds pretty absurd. Is this for comprehensive, or something?

    My insurance wasn't that much when I lived in Phoenix (in a zip code with some high-ass rates) with two traffic tickets and an at-fault accident on my record. As an 18-year-old.

    EDIT: Well, with inflation it was actually probably about that much...this was nearly a decade ago.

  • DragonPupDragonPup Registered User regular
    edited February 2009
    400/month is ridiculous, especially on an older car. How many places gave you quotes?

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  • TexiKenTexiKen Was it Kierkegaard or Dick Van Patten who said, Registered User regular
    edited February 2009
    You live in San Francisco, a place where you wear out brakes about 2.5x faster than other places (what a cabbie told me there who lived there for 40 years). I can see it being more expensive. Also, it's California, they'll poke an prod for as much money as they can.

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  • JasconiusJasconius sword criminal Flo-ridaRegistered User regular
    edited February 2009
    That sounds really high, even for Cali...

    I mean, you're 28.

    I'm 21 years old, I drive a 3 year old car, and I have full coverage insurance. In Hillsborough County, Florida, one of the highest car insurance rates in the state. I only pay like 220 or 230 a month.

    If you move to Tennessee it's going to be way way way cheaper.

  • noir_bloodnoir_blood Registered User regular
    edited February 2009
    Seriously. Waaaaayy to high.

    I have a 07 Sentra, and I live in Dallas, with not the best neighborhood, and I get full coverage at 100 bucks a month.

    Spoiler:
  • downerdowner Registered User regular
    edited February 2009
    Insurance coverage for my Wife and I for 3 vehicles is like $100 a month (72 Monte Carlo, 98 Nissan Altima, 09 Scion tC, St. Louis area).. I guess I should count my blessings.

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  • SevorakSevorak Registered User regular
    edited February 2009
    That's way, way too high. I pay something like $1100 a year on a year old Prius in San Jose and I'm 23. Look around more, I'm sure you can find something better than that.

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  • blahblah Registered User
    edited February 2009
    Get third party, self insure the rest?

  • FeralFeral Who needs a medical license when you've got style? Registered User regular
    edited February 2009
    dispatch.o wrote: »
    Is there anything I can do at all? It seems sort of ridiculous. I am a single male in the San Francisco bay area. I don't plan on staying here much longer, will that help at all? I've asked a couple people at work and they seem to think that's the biggest problem, male under 30 single bay area. Even folks who have been driving since they were 16 say California cities in general are insane.immediate and short term future (2-3 years). If I go back to school I will have even less money available.

    I'm a male, just turned 30 a few months ago, driving a $12,000 vehicle with comp + collision and a $500 deductible. I live in the SF bay area, too. My insurance premium just before my 30th birthday was $100/mo. This is through Geico.

    $400/mo is astronomical.

    every person who doesn't like an acquired taste always seems to think everyone who likes it is faking it. it should be an official fallacy.
    the "no true scotch, man" fallacy.
  • GanluanGanluan Registered User regular
    edited February 2009
    Have you looked at Progressive Direct? They had much lower rates than everywhere else for us. We live in Phoenix, AZ and pay a little under $100 a month. That's with a $250 deducitble, 100/300/100 coverage, gap insurance on an 07 Civic Hybrid, and comprehensive on both cars (the other is an 02 Elantra).

    For reference, I'm 26 and my wife is 28. We both have no tickets or accidents so that probably helps, but even when I was 18 I was paying a couple hundred a month tops.

  • bowenbowen Registered User regular
    edited February 2009
    At 28 I'd be surprised if you're paying more than $50 or so a month on a car that old.

    If you were under 25, I wouldn't be too surprised though. However, for the first year or so after getting a license you will be charged an exorbitant rate.

  • TopweaselTopweasel Registered User regular
    edited February 2009
    BAsic rule here you need to find a way to get away with PLPD or whatever the minimum requirements in your area. For no previous coverage this should cost $75-$150. You have to go through 6 months of that an then get full coverage. No matter where you go They will either require proof you have had and currently have some kid of coverage, or it will be super high.

    I had V6 4 door 99 Stratus when I started driving it in 02. My Loan was for 5k. They wanted me to pay 500 for the first month and 450 for every other month. No matter who I tried to find I would always get quoted for less and then a month later they would interrogate me about my roommates and ask for previous insurance proof. On thing I did to alleviate this trouble is I picked up PLPD and had my credit union apply their stupid car only coverage on the car. This ended up dropping my insurance costs by 66%.

    Now I just wish 6.5 years later that at some point I stopped getting tickets so I can switch back to normal full coverage.

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