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Smart Shopper What do you pay for insurance?
212 messages, Last post on Feb 09, 2009 at 12:11 AM
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Well it seems like everyone I talk to pays less then me in insurance. I am a single male, 25yrs old, and live in NJ. So it couldn't be much worse for me as far as insurance goes. One good thing is I have no tickets or accidents. I just bought a 2004 V6 Accord Coupe. and how much am i paying for insurance? $260/month..and yes i have shopped around. which isn't that easy to do in NJ because half the places you call won't even quote you. this is with a 500 coll. ded and 250 comp. ded. yeah so im paying 3120/year. god forbid i ever get in an accident, i'd have to sell my organs to pay my insurance. i just got rid of a 2001 malibu and that was 220/month. yeah i turned 25 and it went down 4 bucks a month! i just have the one car on my policy. anyone else
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For a 25 yr old male, just over $3k a year is actually pretty cheap in NJ. I've known guys who pay/have paid in excess of $6k a year because of their driving records and other factors. On two cars, my husband and I pay $2500/yr here in NJ. One is 3yrs old, the other brand new. Both have $500 deductibles, comp/collision. No accidents, no claims. The fact that we're married, over 40 yrs old and have all our insurance with one company helps. |
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1. drive a 6+ yr. old GM with no collision coverage 2. get married 3. take the train to work 4. move to a southern state 5. get a company car |
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Good credit, no accidents or claims in the last three years. I just moved from right in Philadelphia to Delaware County, a suburb about 10 minutes south of the city. I was on my parents' policy with my old truck in their name for awhile, but when I purchased my new Dakota Quad Cab I figured it was time to pony up for my own policy so I wouldnt be sweating bullets about getting caught in the case of the unthinkable. I was astonished to find that changing my zip code and getting a new vehicle with more safety tehcnology more than made up for getting off the parents' policy. Im now at approximately 20 bucks less per month, at 167 per month or so, than if I would have kept my 8 year old 107 thousand mile vehicle while continuing to be on my parents' policy at their address in the city. This is keeping in mind I have my rental insurance with the same commpany. Essentially, for the exact same vehicle, I save about 600 dollars per year by moving 10 minutes outside city limits. Not to mention Im now in a non wage tax locality, not having that 100 bucks per check taken covers more than half my montly payments. Face it man, Jersey drivers just plain suck behind the wheel and they get charged accordingly.=) |
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| Ok since I can't figure out to add this , i will post it here. I am in the last 9 months of my lease on my audi, the car had now been totaled, it was the others drivers fault, he was cited for reckless driving. Now what? Do i recieve a new Audi?? | |
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I'll take a guess at this. My guess is you would receive a check for the Audi for whatever the value of it is based ont he mileage. And you will have to work out some agreement with your leasing company. By contract (the lease agreement), you owe them the last 9 months of the lease plus the residual value of the car. I would assume this is what they would expect form you. I woudl make sure the check you receive from the other person's insurance company covers that amount. If the Audi was not worth that much, you will have to make up the difference unless you have Gap insurance. In the meantime, I would scour the internet (KBB, NADA< Edmunds, etc.), local newspapers, car lots to find out as much information on the value of the Audi with the amount of miles you had on it to help you negotiatie with the insurance company. Also talk to your insurance agent. he/she should be able to help you. I don't know how well Audi hold their values but there are others on this board who deal with used cars all day. They can tell you what the car is worth. BTw, What type of Audi is it and what year? Hope this helps. |
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Hi driccardo. I believe that the insurance company that pays your claim will cut a check to the bank that you are leasing your vehicle through. Hopefully this check is enough to cover all of the money that you owe on your car at this point. If not, and you have Gap insurance, it will cover the difference. If you do not have Gap insurance you may be have to pay the difference out of your own pocket. Even though it does not specifically discuss this situation, you may find the following article helpful: How Auto Insurance Companies Total Your Vehicle After You Total Your Vehicle. Car_man Host Smart Shoppers / FWI Message Boards |
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| I'm 29, have two cars fully covered with $250 deductible comprehensive and $500 for collision. 5 years of good driving. I've increased coverage far beyond the state minimums and pay $620 every six months for both. I guess what we suffer in gas prices we save (and probably more than make out) in car insurance. | |
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i shopped around, as much as i can for being in NJ and found a rate of 2995/year. it beats 3200 which allstate just raised my insurance to. i'm 25 and have had a perfect record for over 8yrs. what makes me mad is my twin sister pays half of what i pay just because she is a girl. i have a 2004 accord, she has a 2003 maxima, so the cars aren't too different, and we live in the same town. i understand statistics show males get in more accidents, but give me a break. after us both driving 8 years, i don't think i should be paying 1500 more a year just because im a male. i just think it sucks and need to vent. sorry. i think i might get a 1000 coll. ded., it will save me 430/year compared to a 500 ded. seems to make sense for me to change it. as long as i dont get in an accident the day after i change it..knock on wood. hey kaoha, do you have AIG? i use to work there and i know they were big in hawaii. i've heard it can be pretty expensive to live in hawaii but insurance doesnt seem to bad. |
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