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Old 08-05-2008, 11:39 PM   #1
Kyle2k
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Official Insurance Thread

Calling all insurance agents that might be out there on the Camaro5 boards or people that have already done research or might have some insight into the this topic. I am very curious how much this car will be every 6 months. Rate comparison of the v6 vs. v8 and possibly information on which gender it would be best to put my car under (either mom or dad are going to help me out here- too bad they won't pay it too ). Thanks for your time any info helps.
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Old 08-06-2008, 01:32 PM   #2
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I have nothing to do with the Insurance Industry, but I can at least offer what the insurance cost me when I was 26/27 and bought my '02 V6 Camaro.

I was paying $1100 a year for full coverage (higher levels than base). But I also have the cheapest insurance company in the state of NJ (though NJ is one of the highest overall to insure a car).

It sounds like you plan to have the car insured under your parents name to save money on insurance? I don't know how it works in your state, but in NJ you can't insure a vehicle that isn't in your name. So your parents would have to take the loan out in their name, not yours. Do you live with your parents? If so you'll have to be at least listed on their policy as a licensed driver that lives in the household. That would raise your parents insurance overall price also because there is the potential for you to drive one of their cars.

My parents made me get my own insurance when I got my license/car just for this reason.

I'm curious to hear what the price difference has generally been between insuring the V6 vs V8 since I've never really asked about it.

(All of this can be ignored if your insurance rules are totally different than NJ's.)
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Old 08-06-2008, 02:05 PM   #3
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Though we aren't gonna have exact numbers until the car is actually out, best bet is probably go to one of the insurance sites and get a quote on the current Mustang. Figure it is the car most comparable for insurance purposes.
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Old 08-06-2008, 03:17 PM   #4
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I'm curious if insurance companies factor HP into rates...because if they do...well, that isn't good for us lol.
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Old 08-06-2008, 03:52 PM   #5
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last time I mentioned V-8, 4 speed to my insurance people, they said it didn't matter anymore. They don't really care because they go by value and age, not horsepower.
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Old 08-06-2008, 03:57 PM   #6
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Yeah I thought my insurance would make a big stink about my truck being supercharged but they never said a word; I don't think they even looked it up.
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Old 08-06-2008, 03:59 PM   #7
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yea i checked how much insurance would be on an 06 gto with my insurance company and it was 950 every 6 months, which surprisingly is less than i expected since im 18. I'd expect the camaro to be slightly more than the gto.
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Old 08-06-2008, 05:57 PM   #8
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I know when I went into my insurance company and had the 2nd car added, they didn't ask any information on the car other than the VIN. Their computer system put pretty much all the information in about the car that was used to determine the change to my insurance rate.
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Old 08-06-2008, 08:56 PM   #9
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Quote:
Originally Posted by lafountain View Post
I know when I went into my insurance company and had the 2nd car added, they didn't ask any information on the car other than the VIN. Their computer system put pretty much all the information in about the car that was used to determine the change to my insurance rate.
Same here...

Exactly, due to the fact that most all major insurance companies have now integrated internet access and the ability to actually ADD your vehicle to a current plan WITHOUT ever seeing the vehicles original condition.

So much information is established strictly through the VIN that they really dont need much information from you. I believe my company asked for VIN and confirmed the model of my vehicle, that was it. With that I am pretty sure they can get an approximate value with your make, model, and weight of your vehicle is also listed on your VIN...and as stated before...your age and driving record are truly the only other major factors.

If you are over 25 and your record is great..I would not be to worried about it, but if you are under 25 (only a year away) like myself and regardless of record......prepare to pay, at least thats my experience in Florida.
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Old 08-06-2008, 09:00 PM   #10
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im 23 and pay around 850 every 6 months for my GTO, since they base most of it off the value of the car i would expect the SS and GTO to be around the same price
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Old 08-07-2008, 03:50 AM   #11
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When you say good record do you mean perfectly clean? Like would a car required (before I turned 18) and a 7 mph over speeding ticket (March 08) really effect the rates when it comes time to get insurance?
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Old 08-07-2008, 08:52 PM   #12
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Quote:
Originally Posted by Kyle2k View Post
When you say good record do you mean perfectly clean? Like would a car required (before I turned 18) and a 7 mph over speeding ticket (March 08) really effect the rates when it comes time to get insurance?

Depending on the laws (and company) in your state, a 7mph speeding ticket may or may not affect your insurance (in NJ it might not).

I don't understand the first half of that question though. This part- 'Like would a car required (before I turned 18)'. Yeah, that part lost me.
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Old 08-07-2008, 09:15 PM   #13
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Originally Posted by EllwynX View Post
Depending on the laws (and company) in your state, a 7mph speeding ticket may or may not affect your insurance (in NJ it might not).

I don't understand the first half of that question though. This part- 'Like would a car required (before I turned 18)'. Yeah, that part lost me.
Care required ticket is what I meant.
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Old 08-08-2008, 02:54 AM   #14
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When you say good record do you mean perfectly clean? Like would a car required (before I turned 18) and a 7 mph over speeding ticket (March 08) really effect the rates when it comes time to get insurance?
Nah, Although I am sure every insurance company is different...

Personally I think a good record is anyone who averages 1 moving violation or less every two years throughout their lifetime.

Like the reader before me....I believe you are trying to say you have received two citations in your driving record...and I take it you are still under 25? This may have a minor affect on rates, but the biggest factor is your age. I've never had a moving violation, but am just under 25 ...I get hit hard in Florida for that.
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