Insurance?

kannibul · 07-20-2009, 09:21 AM

Quote:

Originally Posted by ZKindaGuy

Also remember that the 370Z is in its "first year" of production. To the insurance underwriters that means the 370Z is not the same car as a 350Z no matter the number of years the 350Z has been around.

That means the insurance companies can make the

claim they have no statistics accumulated yet of the car's overall performance and safety. So they get to set an inflated insurance rate at least for the first production year of the car.

That can jack up the premiums and everyone must suffer through the first year...

So can 2nd year rates when they get the idea that people drive them into retaining walls on test drives

INSURANCE101 · 07-20-2009, 12:15 PM

Quote:

Originally Posted by 370zL3SS

My cousin told me that, the insurance isn't based on your
age, it is based on when you got your license?

Correct me if I am wrong!

In a way thats correct, you get a driving experience discount when you have your license for more than 3 years. However, that discount is only high enough to make a difference on your premium when a person starts hitting their early 20s.

ZKindaGuy · 07-20-2009, 01:27 PM

Quote:

Originally Posted by kannibul

31 "Married", clean record, high 600's credit score, homeowner, multiple insurances with company.

Car costs me an additional $89/mo w/ $1000 deductible. Goes up to $112 for $500. That's also with 50/100/25 + under/non-insured coverage.

Some folks in the forum may not realize that many folks who are posting the lesser expensive insurance premium cost are carrying only "middle-tier" coverage (such as yourself @ 50/100/25) or sometime even just "minimum state required" coverage.

So if anyone here in the forums think that folks carrying the lesser coverages are getting a better deal than those doing the comparison should keep in mind that folks with lesser coverages are personally liable for the difference should an accident caused by them have higher monetary damage values (propoerty and medical) that exceed their insurance "middle-tier" or "minimum" coverages.

You would be surprised how many folks don't realize this important critical difference between those paying lower premiums compared to those paying higher premiums.

370zL3SS · 07-20-2009, 05:00 PM

Quote:

Originally Posted by INSURANCE101

In a way thats correct, you get a driving experience discount when you have your license for more than 3 years. However, that discount is only high enough to make a difference on your premium when a person starts hitting their early 20s.

Oh, ok thanks!

codpet · 07-20-2009, 11:35 PM

Quote:

Originally Posted by ZKindaGuy

Some folks in the forum may not realize that many folks who are posting the lesser expensive insurance premium cost are carrying only "middle-tier" coverage (such as yourself @ 50/100/25) or sometime even just "minimum state required" coverage.

So if anyone here in the forums think that folks carrying the lesser coverages are getting a better deal than those doing the comparison should keep in mind that folks with lesser coverages are personally liable for the difference should an accident caused by them have higher monetary damage values (propoerty and medical) that exceed their insurance "middle-tier" or "minimum" coverages.

You would be surprised how many folks don't realize this important critical difference between those paying lower premiums compared to those paying higher premiums.

I was quoted $2,483.59/year for 100/300, 100/300 and a 500/deduc through Amica. Now I'm not sure if he meant $500/6 months, or $500/month.

All State also gave me good above mid-tier coverage for 199/month, and GAP coverage.

According to JD Powers, Amica is the best insurance company, even though I've never heard of them..

m4a1mustang · 07-21-2009, 12:01 AM

Quote:

Originally Posted by ZKindaGuy

Some folks in the forum may not realize that many folks who are posting the lesser expensive insurance premium cost are carrying only "middle-tier" coverage (such as yourself @ 50/100/25) or sometime even just "minimum state required" coverage.

So if anyone here in the forums think that folks carrying the lesser coverages are getting a better deal than those doing the comparison should keep in mind that folks with lesser coverages are personally liable for the difference should an accident caused by them have higher monetary damage values (propoerty and medical) that exceed their insurance "middle-tier" or "minimum" coverages.

You would be surprised how many folks don't realize this important critical difference between those paying lower premiums compared to those paying higher premiums.

This is true. But I still have max coverage and only pay $99/mo. I think a lot of you guys are getting absolutely shafted!

ZKindaGuy · 07-21-2009, 09:03 AM

Quote:

Originally Posted by m4a1mustang

This is true. But I still have max coverage and only pay $99/mo. I think a lot of you guys are getting absolutely shafted!

Who do you have your insurance with? I'd like to see what they quote for me.

tstrick9 · 07-21-2009, 07:47 PM

Amica is a good company. They pay their claims, no hassles.

polarity · 09-20-2009, 09:34 AM

With Allstate my wife and I pay $175 for full coverage on both our cars (the 09 370z, and an 08 Accord), we also get a break though because they do our home insurance aswell. This is in Mississippi and we are both 26.

-William

Edit: We have GAP insurance aswell, but I was under the impression that GAP came from the dealership and not your insurance company.

WShade · 09-20-2009, 11:46 AM

Quote:

Originally Posted by polarity

Edit: We have GAP insurance aswell, but I was under the impression that GAP came from the dealership and not your insurance company.

Some insurance companies started tapping into the GAP market as well. With stipulations or course so make sure you read your policy. I read one and it indicated that the car covered had to have been purchased new with less than 350 miles on it at the time of purchase. And, at the time it was totaled the mileage could not exceed 26,000 within 3 years of purchase. The theory is that after 3 years with a decent interest rate you should not be upside down on your load any longer.

Cjanik · 09-20-2009, 12:57 PM

Quote:

Originally Posted by m4a1mustang

This is true. But I still have max coverage and only pay $99/mo. I think a lot of you guys are getting absolutely shafted!

pretty close!
I get full coverage at $101/mo. bastard are ripping 2 dollars off me

state farm, age 25, no accidents/tickets. Married w/ house and truck on the insurance as well.

kannibul · 09-20-2009, 09:01 PM

Quote:

Originally Posted by ZKindaGuy

Some folks in the forum may not realize that many folks who are posting the lesser expensive insurance premium cost are carrying only "middle-tier" coverage (such as yourself @ 50/100/25) or sometime even just "minimum state required" coverage.

So if anyone here in the forums think that folks carrying the lesser coverages are getting a better deal than those doing the comparison should keep in mind that folks with lesser coverages are personally liable for the difference should an accident caused by them have higher monetary damage values (propoerty and medical) that exceed their insurance "middle-tier" or "minimum" coverages.

You would be surprised how many folks don't realize this important critical difference between those paying lower premiums compared to those paying higher premiums.

I turned my policy to bare minimums...I'm paying $165/mo now, for 25/50/25/1K, plus uninsured/underinsured at 25/50. (Z and Civic at those amounts, truck at liability only)

While you can say that someone is personally liable for amounts over the covered amounts, how often is someone in a car accident where $25,000 didn't cover it? Cars are very safe these days, especially if you're an attentive driver.

Personally, I'm not going to worry about it. I'd rather pay less and pocket the different (like using it to pay off debts) than give it to the insurance company that'll deny claims and give me the run around anyway.

99.999% of the time, those coverage limits are money being tossed in another company's pocket. I'd rather keep it in mine, like I said, and toss it at some debts and get them gone.

bradz · 09-20-2009, 09:29 PM

I'm paying $200 a month and I am 24 years old no tickets yet. I hope when I reach 25 it will drop down. I got state farm.

chrisguo0609 · 09-20-2009, 10:34 PM

im 19 years old and im paying 283 per month...

Hi-TecDesigns · 09-21-2009, 07:11 AM

Quote:

Originally Posted by kannibul

While you can say that someone is personally liable for amounts over the covered amounts, how often is someone in a car accident where $25,000 didn't cover it? Cars are very safe these days, especially if you're an attentive driver.

If I hit a new Z Touring with another Z Touring, totalling both (highway wrecks can easily get there), that's $80k in liability right there... suddenly that $25k seems a bit paltry to me. If it's a multi-car pile-up that you caused (it is an accident, so don't claim "I would never do that"), even $5k-$10k in damage per car would quickly add up.

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07-21-2009, 07:47 PM	#53 (permalink)
tstrick9 Base Member Join Date: Jun 2009 Location: north carolina Posts: 45 Drives: 2003 cobra, 2006 tb Rep Power: 16	Amica is a good company. They pay their claims, no hassles.

09-20-2009, 09:34 AM	#54 (permalink)
polarity Base Member Join Date: Feb 2009 Location: Mississippi Posts: 166 Drives: [2009 370Z] Rep Power: 16	With Allstate my wife and I pay $175 for full coverage on both our cars (the 09 370z, and an 08 Accord), we also get a break though because they do our home insurance aswell. This is in Mississippi and we are both 26. -William Edit: We have GAP insurance aswell, but I was under the impression that GAP came from the dealership and not your insurance company.

09-20-2009, 09:29 PM	#58 (permalink)
bradz Enthusiast Member Join Date: Jul 2009 Location: Pinellas County Florida Posts: 348 Drives: 09' 370z MB 6spd Rep Power: 16	I'm paying $200 a month and I am 24 years old no tickets yet. I hope when I reach 25 it will drop down. I got state farm.

09-20-2009, 10:34 PM	#59 (permalink)
chrisguo0609 Base Member Join Date: Sep 2009 Location: Charlotte Posts: 10 Drives: 09 Nissan 370Z Auto Rep Power: 16	im 19 years old and im paying 283 per month...