Outrageous Insurance rates?

[DerrickCaracter]

Is this true? My friend seems to think they will be through the roof? (I'm 27)

[JTP]

It depends on much more than just age. Location, driving record, type of use, age, gender, where it is stored, etc. Atleast you're over 25 so that's one +1 for you.

[yelojkt]

I just got quoted a rate of $316.00 for 6 months ($500 deductible) for full coverage on a 2000 S with 60,000 miles. I am 45 with one ticket on my record. I was just quoted this a few hours ago in Wichita, KS. I really believe that I can find it even lower. But like it was stated there are alot of variables. How old or new is the car you are looking at? How old are you? Whats your driving record like? It's best to just call and ask your agent. Oh by the way that quote is about the same price I am now paying for my 2000 NB 1.8T with 200,000 miles on it. Time to start shopping for new insurance.

[Gforrest2]

I was pleasantly surprised by my rate. I was expecting it to be way up there but it turned out to be just a little more than my wife's '07 Forester. I'm 50, no tickets, one accident, '03 base. Full coverage, 250 deductible, I think around $600 for six months, pleasure use only.

[dirkdiggler]

Im 27 and my insurance on my Boxster was cheaper than my old beat up 1992 Lexus SC400 winter car believe it or not.

Not sure how that makes sense but Progressive surprised me.

My new winter car (2003 Lexus IS300) is even alot more than the Boxster and SC400.

Insurance is a weird thing!!

[BMAN_986]

+1

My Boxster was cheaper by at least $100 than my old Acura Integra 3-Door Special Edition. The lady at the insurance company couldn't believe it!

I'm 38, married, with kids but have only been the US for 3 years so no insurance history.

:-)

[ekam]

Originally Posted by dirkdiggler

My new winter car (2003 Lexus IS300) is even alot more than the Boxster and SC400.

Insurance is a weird thing!!

Some kids pay up to $5000 a year here for the IS. They're usually under 25 Asian males(= can't drive). Obviously $5000 is nothing when their rich parents pay for everything.

[JTP]

When I was surprised at the low Porsche insurance premium, my agent said that Porsche owners are usually very careful with their cars, submit less claims, driven less than average cars, and overall safer drivers.

[JTP]

Originally Posted by ekam

They're usually under 25 Asian males(= can't drive).

Oh come on!! I suppose they all had calculators in their pockets too!

[seningen]

If you have a current insurance company -- just call them up and ask what it would cost?

I can even do mine online

mike

[johnsimion]

Originally Posted by ekam

Some kids pay up to $5000 a year here for the IS. They're usually under 25 Asian males(= can't drive). Obviously $5000 is nothing when their rich parents pay for everything.

+++++
FYI, I have two kids who are half-Asian. One is now 23 and the other almost 18. Neither one has ever had an accident or a ticket. In case their half-white blood might account for this, several of their friends are "purebred" Asian and they haven't had accidents, either. Yeah, and all these kids are top-flight honor students -- is that part of your stereotyping, too?

We have an Acura MDX, Scion tC daily driver, and the Cayman. Of the three, the Scion is the most expensive to insure. This is probably mainly due to the mileage factor in that the Scion gets driven daily to work and runs up more miles than the other two combined. Also, it's a popular car among young people who statistically have more accidents. But it sure as heck isn't because my kid is "Asian." The insurance company doesn't even ask!

[ekam]

Originally Posted by johnsimion

+++++
FYI, I have two kids who are half-Asian. One is now 23 and the other almost 18. Neither one has ever had an accident or a ticket. In case their half-white blood might account for this, several of their friends are "purebred" Asian and they haven't had accidents, either. Yeah, and all these kids are top-flight honor students -- is that part of your stereotyping, too?

We have an Acura MDX, Scion tC daily driver, and the Cayman. Of the three, the Scion is the most expensive to insure. This is probably mainly due to the mileage factor in that the Scion gets driven daily to work and runs up more miles than the other two combined. Also, it's a popular car among young people who statistically have more accidents. But it sure as heck isn't because my kid is "Asian." The insurance company doesn't even ask!

Ok, please educate me why they're paying $5k a year on insurance then? This is statistics gathered by insurance companies and no I'm not making this up. If you think I'm stereotyping, here help yourself.

http://my.is/forums/f122/car-insurance-rates-going-up-ontario-400363/

[J'sboxie]

my insurance is cheaper on the boxie than my 2000my ford f150!!!go figure...guess it helps that I have had the same insurance company for 17 years with my two homes and 5 cars....it kills me though that my 18 yo sons insurance is a whole lot of $$$$ as he totaled my toyota sports car the 2nd week he was driving it...I had that car for many years without a scratch....oh well...at least he was okay...cant say the same for the auto...wrapped it around a rather large pine tree... :ah: damn...i loved my supra!!!!!

[lahalte]

I don't understand insurance companies.I have a Boxster 2000 and had it insured with progressive.I a 63 and use it 4,000 miles a year.This year progressive double my insurance premium for six month.I was so insulted that I shopped around the next day .I am now insured with State Farm at a lower premium than my previous progressive premium.Instead of paying $806 new premium, I am paying $376.You gotta shop around.

[thstone]

The insurance is less on my Boxster than my BMW X5. Go figure? Insurance rates make very little logical sense to me.

[jcb986]

Porsche owners are unique. There is not a ton of them compared to a Camry or other popular brands. There are hard to steal, well taken care by their owners and built very well to take an impact. I pay about $650 year for a 2000 S with complete coverage.

[laphan]

We have a Boxster, camry hybrid and grand marquis. I'm 28 and insured with AAA. Camry and Boxster are almost identical in term of insurance cost ($900 per year full coverage with $550 deductible). I only put the Boxster on full coverage in the summer (max 1/2 year) and storage for winter/ early spring ($17 per month).
On the other hand, Grand marquis only cost me $550 full coverage for the full year (it is the primary vehicle too).
I tends to agree that Boxster owners are more careful with their cars and some don't put a lot of miles (secondary or weekend/nice day car). That might justify why Boxster insurance is pretty low for its kind of vehicle.
I used to own a toyota solara, that car has high insurance rate; $1600 per year.

[johnsimion]

Originally Posted by ekam

Ok, please educate me why they're paying $5k a year on insurance then? This is statistics gathered by insurance companies and no I'm not making this up. If you think I'm stereotyping, here help yourself.

http://my.is/forums/f122/car-insurance-rates-going-up-ontario-400363/

+++++
1. There's nothing in the 3 pages of the forum you linked to that even mentioned anything about Asian kids. Maybe it's buried somewhere, I only read the link twice. Who knows, who cares? Everybody's situation is different, except of course for people who stereotype. Anyway, what kind of a person quotes a forum post as proof of anything??? Sheesh!
2. It's no big secret that insurance is dependent on where you live, how you drive, how far you drive, your driving record, and the car you drive. So now there's the "Asian kids" factor? As if that would make any difference after considering all the real factors? ROFLMAO
3. FYI I'm paying USD $3240 per year to USAA for all three of my vehicles combined. That is with a spotless driving record and living in a quiet suburb. If my kid bought an expensive sports car or luxury vehicle and was the sole owner and driver, had a couple of tickets and moved to the inner city, I fully expect that he'd pay double that. No big surprise there. But I guess you would explain the increase based on the fact he is Asian.
4. Unless you have Asian kids, you wouldn't know whether the insurance company asks about their ethnicity -- would you? I do, and they don't.
5. In retrospect, "stereotyping" was an extremely magnanimous characterization.

[Perfectlap]

like an idiot I was paying $1800 a year with some ****************ty but well known insurance company here in NJ. Six years ago I called GEICO when I first got the Boxster and they only matched their quote. So I stuck with the ****************ty company because the sales guy actually delivered the papers to my house personally (A for effort).

My six month policy expires next week so I finally decided to check all the majors. Okay here's the idiot part...turns out those GEICO and Progressive commericals are no joke. Right off the bat both are offering me $1100-$1200 with extras like lower deductibles for theft and collision. Allstate and State Farm were lower too but not as low. My old insurance tried to dupe with some story about how "most" private insurance companies will not cover you if get into a car accident, they leave it up to your auto insurance company. Well I called my insurance company and they said "nope you are covered fully".
I did some checking and discovered that the Progressive pays out a maximum of $700 a week in lost income for the price they quoted while GEICO will charge much more for that insurance. Winner: Progressive.

p.s.
All of these guys refused to tell me now or even to get back to me later on what the "actual cash value" for my Boxster was in the event of a theft or total loss.
Makes it kind of hard to determine if you're getting a good deal or not when they refuse to even set a low water mark. I think this is how they get you to pay the same premium year after year while your car loses 30%, 40%, 50% of its value.

[stuklr]

I've read in numerous places(consumer reports, online...) that it is best to switch companies on a fairly regular basis. If you have clean record each company will one-up the other to get your business. I have bounced through allstate, state farm and progressive now.

Im 28, home owner, with three cars. 04 passat (wife), 93 audi S4 and 2000 Box S. My rates are 219/mo with full coverage on all. Shopping will by far get you the best rates.