by meeithink5712 » Fri Nov 23, 2007 10:21 pm
I have no idea how insurance works but maybe someone can help me. I am 18 i have been driving 2 years without an accident or violation and I am a 4.0 College Student at one of the toughest Universities in the Nation for engeineering. Yet, I still pay 370 dollars a month for my car insurance. While my 17 year old little sister pays 280.... Explain?
Posted: Sat Nov 24, 2007 05:01 am Post Subject:
Its frustrating :x I agree but thats the funny way of auto insurance…male drivers have to pay more premium than the female drivers of same age. And your age has added to it. The underwriter will scrutinize your application as….hmmm…..you are teen and male….hence you are belonging to the category of high risk drivers….therefore pay more as premium. Their logic is that they are exposing themselves to greater risk by insuring you.
Posted: Sat Nov 24, 2007 06:43 am Post Subject:
Hi meeithink5712, have you asked the agent why your rates are so high? May be he can explain it to you in a better way. Do you enjoy any discount on the rates? If not, check out whether any such discounts are available for you or not.
However, your auto rates will go down as you grow older.
Posted: Sat Nov 24, 2007 08:21 am Post Subject: Why lesser rates ??
Now, here you go my boy!
There are a few good things that you'd need to understand over here -
# Women are disciplined drivers.
# Women get discounts (lesser mortality rates apply).
# Women have a better financial record.
All of these are truly vital for insurers to offer better rates to women.
Thanks, Ice_Blankard
Posted: Sat Nov 24, 2007 10:38 am Post Subject:
Good morning meeithink5712 and welcome!
You don't tell us a couple of things that ''might'' make a difference. What type of vehicle do you have, and what type does sis have? Do you have ''full'' coverage, meaning (really) any coverages (not limits) above the state required? What about sis? Is sis's policy listed on mom and dads, and your independent?
Unfortunately you will have a higher rate than your sister 'out of the gate' but there are ways of getting it lowered maybe.
Let us know what you drive, and the EXACT coverages, limits, and deductibles you carry, as well as if your policy is listed under mom and dad or alone, also with same company or different.
Posted: Sat Nov 24, 2007 04:34 pm Post Subject:
Not too much of a difference there but I'd account for it two ways, 1) female rates are lower starting out then male rates. Let's face it, females are more resposible at a younger age when it comes to driving (they also probably drive less then males). 2) Your comprehensive and/or collision insurance might be slightly more expensive depending on the the type of vehicle you drive as opposed to your sister.
$4500/year for insurance....? I'd give up the car or look for a way to reduce that premium.
Posted: Mon Nov 26, 2007 04:05 pm Post Subject:
I believe Most companies are up-front about their discounts, but I agree with Dazzlingdiamond that you should make sure you are taking full advantage of any discounts you may qualify for. I would talk to several different insurance companies and compare their rates. You might be surprised at how much you can save. Other than that, I would answer lori's questions to get more help.
Posted: Mon Nov 26, 2007 04:22 pm Post Subject:
I think you need to shop around for a different insurance carrier...try insurancee.com and see if they can beat your rate...goodluck!
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