My Car Insurance is Too Damn High!

[Pancake0427]

There are several factors but I'm not sure how long this will go on? Will there ever be a decrease or will I be paying this forever? I financed my first used vehicle last year at 26. I live in NYC, had no credit at the time, and no prior insurance record. I was driving my parent's vehicles for over 10 years and I have no driving record or insurance history. Meaning I'm "brand new" driver statistically with "unofficially" 10 years of driving experience in a challenging driving environment (Brooklyn/Manhattan). The cheapest provider I found was Geico and after negotiating for 2 months I got a rate of $508 a month! That's over 3k in 6 months! Now the factors they said could influence this are me having no credit history while financing, me being 26, me having no driving record under any prior insurance company, and living in NYC. Now I'm taking a state "protection program" test that will reduce the payment to $450 a month, but it's still too much? When can I expect this to go down and what can I do? Should I change my provider? I'm on my second 6 month policy run and so far no change. Any info will help. If I move out of state do I update this and will it affect my rate? When should I start changing providers for price reduction? Can I change any info right now on my policy to create a reduction?

 

[fed up]

You don't say what kind of car you purchased but moving out of NYC will certainly help. Many insurers want to see up to 3 years of driving experience before they will lower your rate. Getting quotes from other companies might help find a lower rate but the fact that you were not listed as a licensed driver for over 10 years has been your fault and you are now paying the price

 

[whatyouwantfinally]

You don't say what kind of car you purchased but moving out of NYC will certainly help. Many insurers want to see up to 3 years of driving experience before they will lower your rate. Getting quotes from other companies might help find a lower rate but the fact that you were not listed as a licensed driver for over 10 years has been your fault and you are now paying the price

Well, if I read it correctly, it was really his parents' fault. If he was driving their cars it was their job to list him. They wanted to save the $ by not listing him and now he's paying for it.

 

[fed up]

Well, if I read it correctly, it was really his parents' fault. If he was driving their cars it was their job to list him. They wanted to save the $ by not listing him and now he's paying for it.

26 and no record of insurance? Never heard his friends say how much they paid or offered to pay his portion to his parents? He is a big boy now and blaming the parents helps no one

 

[dmetzger]

I would wait until you have 1 year of insurance on your own. Then find an independent agent who can shop the insurance for you. You mentioned moving - yes moving out of NYC would most likely reduce your rate. Do you rent an apartment? Do you have insurance on that? If you write both auto and home with same company it may reduce your rate.

 

[adjusterjack]

"unofficially" 10 years of driving experience

You mean driving for 10 years without a driver's license.

Well, you're paying for that now.

 

[vic120]

I left NY (long island) 6 years ago and glad I did, It was insanely expensive and NYC even more so

I grew up there and never really understood the attraction except maybe the food which has gone downhill anyway not worth the cost for everything from rent to insurance its sick for what

Back in the day had the best Chinese at the little take-out not anymore, No more great all you can eat Chinese either

yea pizza

But unless going to expensive restaurants all the time the small places just aren't good anymore with the exception of Pizza


That leaves nothing worthwhile anymore

Moreover, I love to see the mountains when I leave my house, Even the air feels better

 

[Pancake0427]

You mean driving for 10 years without a driver's license.

Well, you're paying for that now.

No. I had license since I was 18, and since before that had a permit. By '"unofficial" I mean that I was never under an insurance policy of my mother's car or my dad's car. Meaning an insurer sees me as a brand new driver. That's the issue.

 

[fed up]

You and your parents have made 19 years of mistakes and now you are paying for cheating the insurance company out of premium. Had you gotten a cosigner on the note or registered the car in your name and theirs, you could have been added as a driver on their policy and added the car to their policy. What are you driving?

 

[Pancake0427]

You and your parents have made 19 years of mistakes and now you are paying for cheating the insurance company out of premium. Had you gotten a cosigner on the note or registered the car in your name and theirs, you could have been added as a driver on their policy and added the car to their policy. What are you driving?

2014 Toyota Rav4 with just over 40k miles. So you're saying I can attach myself and my car to one of my parent's policies (they're separated 15 years now) and lower the price?