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Old 03-20-2007, 03:22 PM   #1
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Insurance Rates --

I just turned 25 this week and was wondering how my insurance rates would be affected. I have heard a lot of people talk about how at 25 you get bumped into a new category for insurance rates.

For those of you that remember, what difference did you see in your insurance rates after you turned 25?
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Old 03-20-2007, 03:57 PM   #2
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State Farm cut my rates in half.
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Old 03-20-2007, 04:00 PM   #3
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Thats what I've heard, the insurance companies play games with you untill you're 25.
they spike the price at 18, then let it slowly lower, at 21 they push it through the roof again, and then it lowers bit by bit, till twentyfive, and your pretty much good unless you get in an accident
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Old 03-20-2007, 04:18 PM   #4
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Happy belated Birthday!!!

Look for your insurance to drop.
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Old 03-21-2007, 08:06 AM   #5
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It will drop for sure. Mine went down a couple hundred per year. Enjoy it while you can though...rates don't decrease because of your age again until you're 50.

Shop around at other companies as well. I just got quotes from Geico, Liberty Mutual, and State Farm and ALL of them were lower than my Allstate plan. In fact, Geico was almost $400 a year cheaper! Needless to say, I'm switching soon.
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Old 03-21-2007, 08:44 AM   #6
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It will drop for sure. Mine went down a couple hundred per year. Enjoy it while you can though...rates don't decrease because of your age again until you're 50.

Shop around at other companies as well. I just got quotes from Geico, Liberty Mutual, and State Farm and ALL of them were lower than my Allstate plan. In fact, Geico was almost $400 a year cheaper! Needless to say, I'm switching soon.
Awesome. I actually currently have Geico as well, and was wondering how that works. Will I see the difference refelected in my premium soon, or will i have to wait until my policy in renewed in like 4 months? Guess I will have to give them a call.

Geico is great. We had Farmers Insurance up in Chicago and when we moved to Indy and switched over our plan they tried making us pay a higher premium than in Chicago... So we shopped around and Geico was BY FAR the cheapest by like $3-400 a year!
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Old 03-21-2007, 08:45 AM   #7
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Happy belated Birthday!!!

Look for your insurance to drop.
Thanks!
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Old 03-21-2007, 08:49 AM   #8
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Quote:
Originally Posted by Dragoneye View Post
Thats what I've heard, the insurance companies play games with you untill you're 25.
they spike the price at 18, then let it slowly lower, at 21 they push it through the roof again, and then it lowers bit by bit, till twentyfive, and your pretty much good unless you get in an accident
They play games for good reason, under 25 is a very risky time for them.
Don't get me wrong, I have no love for the monopoly we call the insurance companies, but younger drivers do pose the most risk. We've all been there at some point
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Old 03-21-2007, 01:40 PM   #9
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Looks like I might have to wait untill the 2010 model comes out, will be 25 then and wont get slammed as bad with insurance costs.
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Old 03-21-2007, 01:54 PM   #10
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Looks like I might have to wait untill the 2010 model comes out, will be 25 then and wont get slammed as bad with insurance costs.
It'd be worth checking around if just to see what the rates are if you really want to pick one up in '09. I was checking out rates on a GTO a few years back and the rates were not horrible for me.
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Old 03-21-2007, 04:15 PM   #11
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It'd be worth checking around if just to see what the rates are if you really want to pick one up in '09. I was checking out rates on a GTO a few years back and the rates were not horrible for me.
Good point, Just went on Geico and checked what it would cost me to insure a Mustang GT today, should be around the equivelent of the base V8 camaro in 2009. Did get a pretty good quote for my age, so might not be as bad as I initially thought.
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Old 03-21-2007, 04:23 PM   #12
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Good point, Just went on Geico and checked what it would cost me to insure a Mustang GT today, should be around the equivelent of the base V8 camaro in 2009. Did get a pretty good quote for my age, so might not be as bad as I initially thought.
I don't know if it will make a huge difference, but try running that on a new 2006 GTO my initial guess is that there will be a pretty sizable difference because of the horsepower gap.
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Old 03-21-2007, 05:12 PM   #13
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I don't know if it will make a huge difference, but try running that on a new 2006 GTO my initial guess is that there will be a pretty sizable difference because of the horsepower gap.
True, mustang only has 300 hp, the camaros performance V6 will probably be that if not a little better. It seems most people are looking at about 425 for the base V8, so GTO will probably give me a better guess. Thanks for the heads up
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Old 03-22-2007, 03:55 PM   #14
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I just got a geico quote on a 2006 GTO and it would run me 762.60 every 6 months. I think i could manage that with a car payment with some cash left to put some gas in the beast.
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Old 08-21-2007, 03:23 PM   #15
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Or well no, It would still cost me over 2500 a year, I guess this car isn't for me, because I cant save for a house and drive a car like this at the same time
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Old 08-22-2007, 02:51 AM   #16
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The only way I'll be able to pay the insurances, is by putting commercials on my car ...
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Old 08-22-2007, 03:10 AM   #17
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Let me know where you get the monitors for them.

Are you gonna put those hi-tech TV's in your headlights?
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Old 08-22-2007, 10:10 AM   #18
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I don't understand why you pay so much for an insurance. Are you sure of that? have you check severals companies? I live in France and the insurance fees would be around 1000 euros average a year which is much more acceptable. And I'm pretty sure you can get that amount. Even with 200 or 400 hp it's not that power which is important it's the tax horsepower or fiscal power ( chevaux fiscaux in french). I'm sure you know what I'm taking about.

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Old 08-22-2007, 11:11 PM   #19
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Now-a-days, one of the larger factors that determines your premium is your [B]credit score[B]. On top of HP, 2-door, 4-door, coupe, suv, and driving record. My policy with Farmers just renewed and one of the reasons for the increase was my credit score fell a little. Seems I didn't qualify for something or other to get the good credit discount.
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Old 08-23-2007, 01:02 AM   #20
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I pay 488 a year but it's liability only. I will have a 7 years clear driving record bonus (had an accident going 5 mph in 2001) on top of good credit bonus. My insurance agent with AAA of California worked with me and we based the cost of insurance on a GT500 of this year, and with the two discounts above, plus the fact that I'm turning 25 next year will give me around $1800 a year for full coverage with decent premiums/deductables.
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Old 08-23-2007, 05:16 PM   #21
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Currently I pay about $850 a year for my '05 Aveo. (Above average Full Coverage of at least 50/100/50.) But I usually get at least $50 back in dividends just before Christmas, if not more. 32 years old and a good driving record. Average credit score (around 700), but that doesn't affect my insurance.

When I had my '02 Camaro Coupe my insurance was $1000 a year. (Again, above average Full Coverage.) And also got the dividend back. Oh, I was 28 years old at the time, had a clean driving record and my credit doesn't affect my insurance (I had bad credit when I got the Camaro, so there's no way it affected my insurance or it would have been higher).

Credit score should have nothing to do with your insurance. Vehicle and Driving Record should be all that matter.
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Old 08-25-2007, 03:35 PM   #22
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Im 23 and I pay 100 bucks a month for full coverage on my camaro. next month my wife will be on my police and it will be 165 a month for full coverage on both our cars. Im with USAA, when I was with state farm I paid 250 a month for the same coverage.
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