Auto Insurance

[Rico Rose]

I was wondering if I could ask my fellow Vibe drivers for some advice on auto insurance? I have my Vibe and my wife's Saturn Ion to insure. The problem is I also have an 18 year old son who just received his license this past month. He is a good student to be insured as a part time driver on my wife's car. Anyone getting any good rates out there? I would welcome any names of insurance companies I could contact for a quote. My current company is AIG. Our rates doubled when we added our son. They are $1800/6mo. Thanks...

[jwalcik]

as a male driver who recently turned 25, i'm tempted to point and laugh. at the same time though, i definitely feel your pain.i was with geico from ages 19-25. every year after my birthday i'd call around looking for better rates, but none were to be found. however i've recently switched to farmers as their multi-policy discount combined with normal (read: not a male under 25) rates are cheaper and give me better coverage.

[micheles_bad_vibe]

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[Mr. Poopypants]

Check State Farm. I have been happy with them for the past 10 years.

[2001FZ1]

Quote, originally posted by Mr. Poopypants »Check State Farm. I have been happy with them for the past 10 years.Same here.The wife and I have the following vehicles all with full coverage with 250 deduct. for collision and Zero for comprehensive.2005 Vibe GT2001 Yamaha FZ11993 Camaro Z/28Total for 6 months is about $915We are however, both 27, no accidents and no tickets.

[baass]

Oh how I feel your pain. My son, who is now 20, was driving in my ancient cavalier before buying his own car a couple years ago. State Farm insured him as an occasional driver. Cost around $1000. He buys a '93 Acclaim (ouch) and the price is $5000. I shopped around forever and found this one insurance company who is located in Toronto. They basically only insure certain types and certain people. If you or your wife have a university degree you will qualify and your son then will get the discounts as well. I was quoted $1500. for my '96 Cav from State Farm. LOL. I went to Meloche Monnex and it cost me $776. for the same insurance. My son was quoted $2500. 1/2 of State Farm's quote. So we moved to Meloche Monnex as the broker. Try them out. I have recommended them to several of our friends and most have moved over to them. It beats paying the big bucks. My son sold that car and bought a '99 Stratus and he pays less than $2000. now that he is 20. http://www.melochemonnex.com or call them for a quote.

[northvibe]

My family has State Farm, and i seem to have a decent rate.When i was in high school, I was under my parents name, had good student discount and no accident discount and was a occasional driver. I dont remember what i was paying but i had a job so it wasnt a huge deal to pay auto insurance.Now im in college, with a 04 vibe, but once i hit 21, with no tickets, accidents and good student im under 90 bucks a month for car insurance w/ full coverage.for kids 16-20 its going to be expensive... but talk to your insurance rep, and see if you can get any more discounts.

[kostby]

Ways to reduce premiums:1) Shop around, as you're already doing.2) Insure him on the car with the lowest 'symbol' rating = generally the safest and least expensive to repair from the insurance company's standpoint. These symbols don't always follow logic, so be sure you compare ACTUAL premiums for the cars, drivers, and coverages you request, not just guesstimates from some agent.Example: In 1996, my 88 Escort GT was a symbol 13, our brand new 96 Taurus was a symbol 4, resulting in a $3 dollar-more-a-month premium to insure a brand new $16,000 car than an 8-year-old car worth $1,200.3) Reduce or eliminate coverages on older vehicles. You'd likely only receive 'ACV' (actual cash value) for a old totalled car anyway, unless you've declared it with a much higher documented 'stated' value (e.g. your pristine meticulously-restored 1969 Camaro RS should be insured for full market value ($25,000?) with an auto insurer specializing in classic and collectible cars, not on a traditional comp & collision policy with State Farm, where they'll give you about $250 bucks if it's totalled, regardless of what you claim it's worth.a) Drop comprehensive and collision coverage on vehicles that are paid for.b) Drop towing and rental-car coverage on second, third, fourth vehicles. (A motor club membership may be cheaper, and offer better coverage.)c) Raise deductibles to $1000 or higher, if you can truly afford $1,000 out-of-pocket.4) Lock him in his room and don't let him drive until he's 25. 5) DO NOT, UNDER ANY CIRCUMSTANCES, fall for the trap of only buying 'State Minimum Required coverage'. Most states still have ridiculously low minimum required coverages of $25,000 to $50,000. If the unthinkable happens, and your son is involved in a serious at-fault crash involving passengers and personal injury and/or death, he (and you) will be held legally liable for whatever medical, repair, and legal costs are involved beyond your insurance coverage, and you'll probably lose your house.

[Rico Rose]

Thanks for all the advice. I liked Kostby's #4 (lock him in his room until he is 25). I will keep shopping and definitely check out the insurance companies that were recommended... I will re-post and let you know what happens.

[zionzr2]

would a bus pass be cheaper???does he have a job??? Maybe he could foot part of the insurance bill!!