Ok, I am getting kind of tired of high insurance rate quotes.

Here's the deal:

I'm a 23 year old male. No tickets, no accidents, nothing and been driving since 15 1/2. Just graduated college with AE degree, still looking for job.

When I get a job, I am gonna probably get a 350Z. Now, I am trying all kinds of things to lower my insurance. I have had quotes from a couple places.

First, I have a 1991 Corolla, that I will probably end up keeping and using as the primary car. (this almost halves my rates).

Now, can anyone give me other tips. Does keeping your car is a underground controlled parking help? If so do I just mention that to the agent?

Anyone take a voluntary driving course? Does this/would this help at all. I don't mind spending some time and money if I can save much more down the road.

I might have to end up living way outta town and driving a good distance just to get lower rates.

 

It is tough to lower it much except by calling around. I remember those days.

The bulk of the cost is the expected liability for a young male driver with a high performance car. To lower it significantly you either need a slower car or to get older. I am not trying to be a jerk, that's just how it is.

Some things that can help a little are:

1) Shop around a lot. Rates vary significantly from company to company.
2) Raise the collision deductable. When I was younger I raised mine from $500 to $1000 and saved nearly $500 per year!
3) Get married. I have no idea why, but that lowers your rates. Maybe they assume you no longer FEEL young when you get married.

 

hey!! i have a 91 corolla too!!

mine is a corolla dx sedan AT...hehe

 

Get Old and turn 25. That did it for me. Also, Progressive was $400 cheaper than anywhere else I found. I'm paying about $500 for 6 months. Allstate, Geico, Statefarm..... they were all about $1000.

Justin

 

If you get a 350 and you only plan on driving it during the summer you might want to think about getting it set up as a seasonal vehicle. You will only be able to put so many miles on per year and you can only drive it during certain months, but the insurance would be much cheaper. My uncle has this on his Porsche and he pays almost nothing to insure it.

 

Get married
Turn 25
Have a kid (in some states)
Have 2 cars on the policy (multi car discount) and drive the Z less then the other car.

Unfortunately someone your age with a car like this is going to get nailed for high insurance costs simply due to the fact that you are a male, and are under the age of 25. The public complains about profiling for homeland security, but the insurance company has been doing it for decades

 

However the Z currently is quoted at significantly lower rates than an RSX or Prelude as I and other posters have pointed out. (My insurance dropped by 30/month when I went from 01 Prelude to 03 Z Touring) No one really knows why, people have speculated that

1.) The insurance companies have no data on the Z (accident wise) and it is illegal to jack up rates on speculation.

2.) 350Z is hard to steal.

3.) 350Z performed quite well in crash tests.

4.) Models with 6 air bags lower the insurance rate.

That being said, once insurance companies have some historical data, they could feasibly jack up rates, so you might get the car under one rate and when you go to renew next year, the price is doubled. Not trying to scare you, just want you to be aware.

 

I believe the driving school can help

some insurers give a break for having an alarm in it.

prolly cant get a good grade discount any more...

 

mdelia is correct.

It also helps to have multiple policies through the same company, i.e. Home mortage/renters, life insurance, etc.

Bottom line: your AGE, home LOCATION, annual MILEAGE, & DRIVING RECORD.

Good luck


PS, Mikestro, Hondas have high rates. I have a '92 Civic Si, which I drive to work (over 15 miles each way) and it's only $20 less every 6 months than my '00 Maxima SE. Go figure!

 

To add couple of things:
1) Get a higher degree of education.
2) Find a sugar mama/daddy (depends on orientation).
3) Open your own insurance company.
4) Change sex (I heard girls pay much less).

 

haha, I was just about to post the sex change operation idea.

 

Yeah, most of these ideas I thought about.

I am almost definitely going to keep the 91 Corolla now.

I am also going to let car insurance help determine where I might live too.

Finally, I will try and live close to public transportation to and from work places.

Hopefully with this (and some time to age) I will get it down there a little after time.

Sorry, no sex change - no one could pay me enough.

 

Here's one way of lowering your rates, heres an example of mine.

2002 Max 6spd SE (paid for)
2003 350Z (LOL, still owe)

I pay $1480 a year for full coverage for both cars. Yes, thats right, $1480.

Heres how:

I dropped the rental/and towing, since I already have this on my extended warranty.
I dropped medical since me and the wife get free medical anyway.
I have a $500 deductible on both cars.
I drive less than 7500 miles each year for both cars.
I'm 35, wife is 33. No tickets/accidents of course.
We currently live in Colorado, and Colorado is not cheap either.


And the biggest reason why its so cheap, I'm in the military and I have USAA auto insurance.

So join the military and serve your country.

Loving life,

 

Well, I have a quote of 1049 for both the 91 corolla and an 04 350Z for 6 months, or 2100 for 12 months. That's with all the minimums, in St. Louis, 500 deductible.

Basically the same options as zand02max.

Paying ~600 more a year for single guy at 23 isn't that bad I guess.

 

That is a great rate for you age and being single. They just dropped Personal Injury Protection in the state of Colorado, my rates used to be around $1800 for both vehicles.
I'm glad they lowered it. And don't even bother with Geico, they spend too much $ on those stupid dumb a$$ commercials.