Insurance???

[anderson152]

I am 24 and i have no points on my license. I had a cancellation 2 years ago with amica insurance which may be the reason im paying 850. a month with geico now. I have full coverage on my nsx but man its expensive. Any good insurance companies?? Im in new jersey.

 

[Peter Mills]

Anderson:
You'll have to wait until you're 25 then your insurance rates should drop. Your payment of $850/month is more than $10,000 per year. Shop for another carrier ...now!

I am 24 and i have no points on my license. I had a cancellation 2 years ago with amica insurance which may be the reason im paying 850. a month with geico now. I have full coverage on my nsx but man its expensive. Any good insurance companies?? Im in new jersey.

 

[Zennsx]

$850.00 A month?? Are you crazy? No car is worth that much.

 

[anderson152]

that hurts everytime i get the bill!!!!!!!

 

[RSO 34]

What coverage do you have (e.g. liability limits, APIP, collision/theft, underinsurance, etc.)? Changing one or more may significantly reduce your premiums. For example, it is cheaper to reduce liability limits from $500,000 to $100,000 and then purchase a PELP policy with limits of $1,000,000. Raising your deductible also makes a huge difference and you could then put those savings in the bank to cover the increased deductible and at least make the money work for you rather than the carrier.

 

[K.O.]

Peter,

My insurance guy said wait til I am 30 before it gets cheaper. They wanted $5,300 a year for just an E350 not an Nsx. They were like since you are under 30 and not married...and I was like man, that sucks. It seems they keep raising the age minimum.

Anderson,

10k a year is crazy. Put the car under a parent or something.

 

[anderson152]

thanks guys for the advice. i really want to switch companies, any advice??

 

[legendr35]

AAA, paying 1200 a year, 50/100 full coverage. i'm 23, so the main policyholder is my father, but i'm under the policy, therefore able to drive the nsx all i want.

 

[Zennsx]

AAA, paying 1200 a year, 50/100 full coverage. i'm 23, so the main policyholder is my father, but i'm under the policy, therefore able to drive the nsx all i want.

Remember, The car is insured , not the driver.

 

[RSO 34]

Remember, The car is insured , not the driver.

That is not entirely accurate. The liability portion of the coverage insures the driver because it "follows you" when you drive other vehicles such as with a rental car. The collision/comprehensive portion of the policy is vehicle specific but other portions including personal liability and underinsurance insure the driver irrespective of the vehicle being operated at the time.

 

[WillErickson]

I'm not as young as I used to be (28 now), but I've been very happy with progressive for the last 10 years or so, they've been very reasonable, with my age, past cars(S2000, RX7 TT), and driving record (No crashes, but a fair amount of tickets). I think progressive weighs more heavily on whether you've caused accidents to determine if you're likely to have an accident, and not put a lot of stock into how many tickets you have, whereas most companies jack up your rates for whatever reason they can. Progressive also uses your credit report to determine your rate, though I'm not sure to what extent. My rate didn't go down at 25, but this year it went down about 30%. Currently I'm at $1600 a year for full coverage (100/300/100) on the 95 nsx, liability/uninsured motorists coverage on my 93 miata and 03 CBR600.I also have theft coverage on the bike.

Is your nsx your only car? I think you may pay less to insure 2 cars than 1 if you reclassify the nsx as "recreational toy" and something cheap and basic (civic,corolla, etc) as your daily driver.

Will

 

[RSO 34]

Is your nsx your only car? I think you may pay less to insure 2 cars than 1 if you reclassify the nsx as "recreational toy" and something cheap and basic (civic,corolla, etc) as your daily driver.

Will

I have 4 cars and just added my new Civic that I won in a raffle. Believe it or not, the Civic costs me more to insure than my E55 AMG and only $225 less than my NSX. Go figure.......