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Old 10-03-2008, 08:08 PM   #71
Rogue Leader
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Quote:
Originally Posted by Skyman 08 View Post
It does not matter if you are on the same policy, if you are in the same household you are considered a driver of any car in that household, therefore if you child screws up several time (as mine did) you could be threatened with cancellation... I was... I got out of it becaues he was in the military and not really living at home, our address was just being used for his state of residence... So be sure before you get your own policy that you will be considered completely seperate from your parents....
To clarify this is true in a way. As a parent if you have a child in the household who has a license you are responsible for them with your insurance (whether your company knows or not, and once they find out they will add your child unless you can prove otherwise). If they drive your car you are responsible for them (then again if your friend drives your car you are also responsible). If they drive someone elses car the other person is responsible for them, however if they are in some sort of catastrophic accident your insurance can be called in as a secondary (ie they hit a school bus full of kids).

HOWEVER if your 18 or over yr old child gets their own insurance and they are driving anything but your vehicles you have no liability or responsibility for them. So my advice here is if you don't want your kid on your policy make him/her get a car and their own insurance.
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Old 10-04-2008, 12:10 AM   #72
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Quote:
Originally Posted by Rogue Leader View Post
To clarify this is true in a way. As a parent if you have a child in the household who has a license you are responsible for them with your insurance (whether your company knows or not, and once they find out they will add your child unless you can prove otherwise). If they drive your car you are responsible for them (then again if your friend drives your car you are also responsible). If they drive someone elses car the other person is responsible for them, however if they are in some sort of catastrophic accident your insurance can be called in as a secondary (ie they hit a school bus full of kids).

HOWEVER if your 18 or over yr old child gets their own insurance and they are driving anything but your vehicles you have no liability or responsibility for them. So my advice here is if you don't want your kid on your policy make him/her get a car and their own insurance.

that is why my kids will not drive till they are 18 yrs old. No if, and's or but.
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Old 10-06-2008, 12:41 PM   #73
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I worked for Progressive as an adjuster for 6 years, so I'll give you some of my insight into pricing. Keep in mind, I was an adjuster- not an actuary so I'm just letting you know what to look for.

Progressive has several major and several minor factors that went into a rate. The biggest factors were: Age, Credit Rating, Zip Code, and type of Car then a "use type" factor is applied. That is not in any particular order, but I do know the Zip Code was a HUGE factor. Two adjacent zip codes could have as much as 30% difference. You had garaging issues to watch for where people would put down a Connecticut address but they actually lived in NYC.

They have conducted several studies that show the link between risky credit behavior and risky driving habits. The evidence on that is pretty compelling even if your personal driving record is pretty good.

This is an insurance 'soft-market' right now because there is so much competition and there haven't been too many major disasters so the reserves are piling up. It's a good time to price it out. Packaging is pretty heavily leveraged right now too- so if you do combine your home and your car it can be substantial.

As far as men's vs women's rates- that's just the way the Vegas Odds play out on your chances of costing all the other rate payers money. Insurance companies usually aim for a profit of 4cents on every dollar they collect as well. It was made clear that you weren't really spending Progressive's money- you were spreading risk among all the insureds. I'm not defending Progressive, but I'll tell you from the inside they didn't seem all that evil. I work for the State now though, so hate on them all you want.

As far as the Corvette goes, Progressive called them luxury if they met certain criteria (technically, I think they called them 'pleasure vehicles'). You had to have another vehicle available for each driver in your home and you had to drive them less than 8000 miles per year. Even Ferrari's weren't all that expensive to insure as long as you met the other criteria. Progressive's theory was that weekend warriors weren't that likely to get in a wreck. You can actually call several vehicles pleasure vehicles and a Camaro MAY qualify.

I drive a Gov't Car so I can qualify for pleasure vehicle rates for my Megacab Ram- I told them it was mainly to haul my trailer (which is true).
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Old 10-06-2008, 01:05 PM   #74
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Camaro vs Corvette Insurance

For Camaros, in the past, I know State Farm would charge more for the insurance compared to a market value equivalent Corvette. ie a new Camaro against a 7 year old used vette. I asked them about it once, and they said that pecentage wise Camaros were involved in accidents much more than Corvettes. Also the average driver of Camaros was much younger and more risky than the average Corvette owner. So overall model statistics matter.

I wonder if they will use old Camaro statistics when figuring rates for the new Camaro?
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Old 10-06-2008, 01:36 PM   #75
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I have State Farm and I live next door to my agent. He told me that right now he thinks they will be charging roughly the same as a comparable 2009 Mustang.
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Old 03-23-2009, 12:19 AM   #76
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any new news on insurance rates now that the car is out metaphorically speaking?
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Old 03-23-2009, 07:36 AM   #77
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Hagerty quoted me $900.00 for 12 months full coverage and would discount further in the winter months while in storage.
Must have second vehicle as daily driver to qualify and the agreed price on quote was $37,000. Vehicle must be treated as a collector vehicle to qualify.
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Old 03-23-2009, 10:04 AM   #78
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I just got mine for $1500 for 12 months. 23 years old clean record for 2SS
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Old 04-09-2009, 03:01 PM   #79
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State Farm $463/yr ($231/6 mo)
Progressive a bit less

Liability, Bodily Injury, Property Damage 100/300/100
Comprehensive 500 deductible
Collision 500 deductible
Uninsured/Underinsured 100/300

Camaro is NOT the daily driver. Camaro mileage estimate under 7500/yr.
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Old 04-09-2009, 04:36 PM   #80
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im 44 have 3 cars. escalade, 4runner and honda civic all 08s the camaro will be my forth,i also have home owners and life insurance threw them they quoted me 426..dollars every 6months for a fully loaded 2ss which i think is really good. statefarm is the company
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Old 04-09-2009, 06:12 PM   #81
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Thanks guys for letting me know about state farm. Just got a quote for 2010 camaro ss and my wifes 2009 Chevy travese. 1390 for six months. thats about 115 a month full coverage. that awasome. I was just remembering those days when i was paying 234 a month for my 2003 nissan 350z. I was 23....... Suck to be young sometimes
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Old 04-09-2009, 07:59 PM   #82
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Originally Posted by linkwpc View Post
I'm 27 and had one accident... yeah $700 a month.... I really do not know why. but that was I got when I looked it up.... Maybe its the area, los angeles rates suck!
Yea Zip code and probably your FICO score. Have you pulled your credit report 3 + FICO to look?

You should be at half of that by 27.
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Old 04-09-2009, 10:00 PM   #83
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Obviously much of the price is relative to zip code. But heres a good comparable: I'm with AAA for only my spare vehicle (07 CTS). I just turned it in for end of lease and checked with AAA on the new Camaro. The Camaro is $40 per year cheaper than my CTS was for the identical coverage.
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ship date ??????? (I gave up and got a GT500)
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Old 04-09-2009, 10:09 PM   #84
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$700.00 per year 40 years old All State insurance
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