Insurance Question

"JDMatt" (JDMatt)
03/08/2018 at 01:52 • Filed to: Insurance

I’ve assumed that my car insurance rates will go down when I turn 25. I currently pay $190 per month for full insurance on my Infiniti G37. Will my rates actually go down after I turn 25?

DISCUSSION (28)

facw > JDMatt
03/08/2018 at 02:06

Mine did. If yours don’t, I’d shop around see if someone will give you a better rate.

JDMatt > facw
03/08/2018 at 02:07

perfect. thank you!

Teh Penguin of Doom > JDMatt
03/08/2018 at 02:37

I’ve heard that for some cars, they actually don’t go down at 25, since they figure a 25 year old in that car is just as bad as a 21 year old. I found this out when I was considering an NSX when I was 25.

atfsgeoff > facw
03/08/2018 at 02:42

Yep, shop around at least once every couple years. Switch companies if you find a significantly cheaper rate for the same coverage.

themanwithsauce - has as many vehicles as job titles > JDMatt
03/08/2018 at 02:49

Mine didn’t, but mine were ow for the state I lived in to begin with. The “offers” I got would double my monthly payment.

Steve in Manhattan > JDMatt
03/08/2018 at 03:00

You have to call your insurer and ask to be requoted. If they won’t, fuck ‘em. Find another carrier.

Eric @ opposite-lock.com > JDMatt
03/08/2018 at 03:03

Ouch. 2280/year?! I pay less than that for my fleet of cars with two insured drivers...

Apparently it goes down with marriage (probably true), definitely goes down at 25, and varies wildly by car, zip code, state, etc. Zip code alone could potentially yield enough of a difference to live in a better part of town...

imadick > JDMatt
03/08/2018 at 03:34

Probably. Another solution? Get married. Apparently if you have something to live for you’ll take less risks on the road.

Roundbadge > JDMatt
03/08/2018 at 05:12

What Eric said is correct. Factors determining your rate include:

Your record

The vehicle you drive

Where you live

How much you drive

Marital status or familial obligations

Level of insurance (liability vs full coverage)

Definitely ask to be requoted.

shop-teacher > imadick
03/08/2018 at 06:56

I know a couple people for whomever their marriage may have had the opposite effect :)

shop-teacher > JDMatt
03/08/2018 at 06:57

Like others said, shop around. I switch insurance companies every few years it seems. Their rates always creep up.

merged-5876237249235911857-hrw8uc > shop-teacher
03/08/2018 at 07:02

Yup, read something regarding this phenomenon. The longer someone stays with an insurer, the more likely they will pay more than a person that has been jumping from company to company. They understand we are creatures of habit and don’t like to bother changing stuff over, so they increase a little bit each half, or year. The same idea holds for salary. They say if you’re not changing companies every 5 years or so, you’re not going to be making as much as the person who has been jumping from place to place. Pretty interesting.

Under_Score > JDMatt
03/08/2018 at 07:07

USAA. My parents have had it for 25+ years with no problems. I wonder why they’re so attached to it, but then I see comment sections like this and understand.

TheRealBicycleBuck > JDMatt
03/08/2018 at 07:24

Don’t expect them to just do it automatically. Make sure you talk to your agent on your birthday.

KingT- 60% of the time, it works every time > Roundbadge
03/08/2018 at 08:10

Also, Credit Scores

CarsofFortLangley - Oppo Forever > Eric @ opposite-lock.com
03/08/2018 at 08:18

I paid over $3K for my CX-3 for one year.

ITA97, now with more Jag @ opposite-lock.com > JDMatt
03/08/2018 at 08:33

My insurance went down something like 40% when I turned 25. I don’t think it happened on the exact date, but on the next renewal. There are lots of other factors, but age is a big one.

nermal > merged-5876237249235911857-hrw8uc
03/08/2018 at 09:03

I like getting a quote from another provider every year and sending it to my current insurance company, while threatening to leave. It usually gets them to lower rates.

Eric @ opposite-lock.com > CarsofFortLangley - Oppo Forever
03/08/2018 at 09:10

CAD, so that’s probably not too bad.

I paid just over $200/month for insurance on my first car for the first couple years. This was 20 years ago. But by 24 (presumed age of OP), it was far less than this.

CarsofFortLangley - Oppo Forever > Eric @ opposite-lock.com
03/08/2018 at 09:55

I get paid in CAD, so it still is the same in terms of ratios.

Eric @ opposite-lock.com > CarsofFortLangley - Oppo Forever
03/08/2018 at 10:55

Only if what you make in CAD is the same number as a comparable person makes in USD. For example, you make $50k CAD and they make $50k USD.

CarsofFortLangley - Oppo Forever > Eric @ opposite-lock.com
03/08/2018 at 10:57

It is. Remember, it hasn’t really been that long since we were at par or even higher than the US dollar.

Eric @ opposite-lock.com > CarsofFortLangley - Oppo Forever
03/08/2018 at 11:10

But that never pushed Canadian incomes down. Everything was relative. It just became expensive for us to visit and cheap for you. Comparing salaries based on numbers alone like this, Canadians usually make 40-60% more than people in the US. That is, they make somewhat more than their direct counterparts when you consider the exchange rate, and quite a bit more when the currencies are at parity.

Your gas is definitely expensive for North America, no denying that, but many things aren’t at all. Canadian chocolates are a screaming deal, as are a lot of foods...

merged-5876237249235911857-hrw8uc > nermal
03/08/2018 at 11:30

That’s a good approach. Time to start insurance hunting.

Roundbadge > KingT- 60% of the time, it works every time
03/08/2018 at 12:45

Yep! I think that was the one I intended to mention, and then thought about all the other stuff.

JDMatt > imadick
03/08/2018 at 23:13

I wonder if car insurance rates go up after a divorce?

JDMatt > Teh Penguin of Doom
03/08/2018 at 23:15

I probably have one of those cars :/. but we don’t buy fast cars for cheap insurance!

JDMatt > Steve in Manhattan
03/08/2018 at 23:16

There’s no shortage of insurance salespeople!