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That's pretty high for a 1.9. I pay about $140 per month for my MZ3...
And an M5
And an X5.
Definitely shop around and make sure you are getting all your discounts. Join a credit union or AAA if you must, or change the car status to non daily driver to pleasure use. GL!
997 Carrera 2S..the choice of 2 out of 3 Top Gear presenters.
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Originally Posted by IslandS62
Can I do that when I do use it to drive 7 miles to school everyday?
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just turned 25 and my monthly went down to 83 from 96. . .that is for full coverage ( I am still making payments on my car) $500 deductable etc. I hardly see how that could be "killing" you. Especially if the car is paid off. . .thats just me tho :-)
mmm, forgot my truck is on that coverage as well. . .both my vehicles are for "pleasure" and the Z is a "weekend" driver and the truck is the "daily" for a total of 10mi a day. . .good advice ;-)
Last edited by 2kredz3; 07-24-2010 at 10:00 PM.
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Should I get a THIRD CAR??? for a daily driver? That's a bit much... I already have one pleasure car.
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just lower the miles you drive on the z. . .
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About the only thing you can do is shop around. As other have said, there are a ton of factors used in determining rates and comparing your situation to someone living in a small town in another state is pointless. From what I just looked up, the minimum limits required in CA is 15/30/5, but you're not going to be saving much, if any, by dropping down to that. I would suspect that the only carriers that offer that kind of coverage are non-standard (high-risk) companies and people go to them because they have to, not to save money. Also, the risk of you getting into an accident where the company pays policy limits are negligible, so it's not like you're going to cut your premium in half by cutting your coverage in half since the majority of the accidents result in a minor pay out by the carrier.
I would suggest pricing a policy with a higher deductible as upping that to an amount that you can pay if you have a claim, but it should be an amount that is enough to hurt to some extent if you have to stroke a check.
I would NOT recommend giving them any false info on where the car is garaged or how much you drive. I'm not sure about CA, but in the states I'm familiar with, if the carrier can show that you misrepresented the risk in the application, they can deny coverage if you have a claim.
Call a couple of independent agents who represent multiple carriers and have them give you quotes. They're able to get rates from a bunch of different carriers and unlike the agents for State Farm, Allstate, etc., If you ever need them in a claim, the actually have some influence with the carriers.
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Just to clarify my Z is not my daily driver. . .all the miles go on the nissan truck which only has liability coverage (which gieco didnt even ask me how many miles i drive it for some reason) I would not sugest giving false info either, what i ment was drive the your Z less miles
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Allow me to jump in, first I am in the insurance industry and have been for several years. To answer your question on premium we will have to start with dispelling some myths out there. sports cars are expensive, because they are sports cars. "this is a myth".
They are expensive because, this is based on the claims history of the ins co you are with. example: ABC ins co, insures 100 units of Yr. 2000 BMW Z3's, out of that, last year 40 these were involved in accidents and 10 of them caused injury to the other driver. So this places the vehicle in a high risk category to insure. Now, the more miles you drive the higher the risk. The higher the risk the higher the premium.
Where you live (zip code) can cause your premium to increase. Yes. This has nothing to do with you living in a crappy community or not. Premium related to zip code has to do with risk, and population density.
Example: LA, high population density, and many people drive to and from LA, the risk on this has a lot to do with how many people get tickets and accidents in this zip code. Now remember these risk factors will vary from company to company, because each ins co insure's only x number of people. If ABC ins only ins 100 people and only 2 of their insured get a ticket in LA, then their risk in LA is small, Versus EFG ins co who insures 1000 people in the LA are and 200 of their insured's get tickets. I hope you get my point.
The claims history of a vehicle is just another factor that drives ins premiums. Why does a BMW Z3 cost more to ins than a Honda S2000? ask yourself how may of each were produced. How much does it cost to repair each one. With more vehicles of one, then the risk is better spread out. The less vehicles, each accident can have a greater impact on the risk of the ins co.
Another myth, the more experience i have driving the cheaper my insurance will be. (Not necessarily) When we get our license our insurance tends to be high. Why? Because statistics proves that drivers with less experience tend to get more tickets and accidents. So it is the same statistics that show our risk decrease for the first 10-12 years. Then the risk plateau's for the next 10-15years after this. Now this is where it get's tricky. In the later part of our driving experience statistics show that persons that have been driving so many years start becoming a higher risk. So at the later part of our driving experience or insurance premium can begin to increase again.
No some of you may be up in arms yelling "that's age discrimination" Note, I never mentioned age. You may be 80 years old and only started driving when you were 40, your premium would be less against someone who was also 80 years old but acquired their license when they were 16. See, insurance company's cannot discriminate on age, because they use statistical data only on the number of years a driver has been licensed.
So this is why insurance in IOWA is different than in Los Angeles and why insurance is different in each zip code.
My advise is this, find out how many miles a year your insurance company is rating you. How do they figure this out. Did they just key in 12,000 to 15,000 because that's the average, when you only drive 7500 miles per year? If you can't move to a different zip code, then you're stuck. You can go with a less reputable company and roll the dice when a claim occurs.
I hope this has been helpful. Myself, I wouldn't sweat it, once I get in my baby, drop the top, all that stuff is not even an issue. Give me a sunny day and a twisty road and I could care less about anything.
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