Insurance drop when you turn 25 - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

zogster · 12-30-2012, 06:00 PM

So I'm 24 right now, my insurance is $130 a month through State Farm, I have low deductibles and good coverage. In 3 months I will turn 25, been driving since I was 16 (if # of years matters). No tickets of any kind ever, no accidents ever, only claim was when someone keyed my car (comprehensive claim).

Should I shop around once I turn 25? State Farm was actually the cheapest out of all companies I got quotes from when I bought the car. Anyone know what I should expect to get as far as how much my premium will be reduced? I have a 2LT.

05stram · 12-30-2012, 06:22 PM

Problem with changing while you are still considered in the risk age actuary _ I believe they bumped the non risk actuary to 40 used to be 35 is most agencies if you have no history with them may drop you. You can always work with your current agent to see if there are savings to be had. 130 a month is not bad for a Camaro for a person in your age group. You should however since reaching another risk actuary see a discount with State Farm. I believe they dropped my sons way back when something like 3 1/2 % but that has been years ago.

dkp2LT · 12-30-2012, 06:27 PM

Back in 1987 when I turned 25 my insurance for my RX7 dropped from $125 to $35 a month. Not sure what that is in current $'s.

Shop around - stay away from the high risk companies like Progressive. Also your agent should be able to tell you now what the future rates will be.

2Carats · 12-30-2012, 06:29 PM

Other factors go into the amount of your premimum as well. I.e. where you live, what you use the car for, etc. It wouldnt hurt if you "shop around" for better rates, but be aware that the grass isn't greener.... Im sure you've heard it all before. Before you drop State Farm altogether... compare rates and then make a decision based off your research. Ya cant go wrong there!

Mind controlled by Cerebro

Ryanbabz71 · 12-30-2012, 06:33 PM

Myth, mine dropped about $1 a month ($5 over 6 months) when I turned 25

Ryan

dkp2LT · 12-30-2012, 06:35 PM

Quote:

Originally Posted by Ryanbabz71

Myth, mine dropped about $1 a month ($5 over 6 months) when I turned 25

Ryan

Wow, what mod did you buy with all your savings?

Ryanbabz71 · 12-30-2012, 06:39 PM

this was 8 yrs ago

Ryan

Mr pogo · 12-30-2012, 06:46 PM

when I was barely twenty if even that, I remember my monthly insurance payment was more than the car payment

my quote on the 2SS for full coverage with my insurance company was just a hair under $300 per year.
I told her about damn time I got a benefit for getting olde

PalmerGA · 12-30-2012, 06:46 PM

Doesn't hurt to shop around, but be advised... many companies will low-ball you and give a great rate initially, only to steadily raise your premiums in coming years. I have been with State Farm since 1980 and (just for the hell of it) get free quotes from other companies every couple of years - no one can touch the rate I'm getting with SF.

Definitely call your agent and ask what you can expect your rates to be. Insurance companies love guys like you and me: no tickets, no accidents, no claims (or very minor ones). We are pure profit to them and they reward us for it with excellent rates.

Also, if you have confidence (and you should, given your record) in your ability to avoid accidents, consider raising your deductibles. I carry $500 comprehensive and $1,000 collision and my 2013 SS runs me under $30 a month.

Good luck, happy birthday, and drive safe!

SD2011SS · 12-30-2012, 07:38 PM

Quote:

Originally Posted by Ryanbabz71

Myth, mine dropped about $1 a month ($5 over 6 months) when I turned 25

Ryan

I disagree. Mine went from $1280.00 to $890.00 a year when I turned 25..

CamaroJim56 · 12-30-2012, 07:58 PM

Nowhere near 25, but no one touched Geico for me for years, but I checked out State Farm and Nationwide 2 months ago, State Farm was higher than Geico, but Nationwide smoked em to the tune of $25 a month! No tickets or accidents for many years. Also the savings was on 2 full coverage vehicles.

DEFINITELY call and check around, personally, I'd stick with the big boys, I never check the little companies.

You should see some saving.

Oh yeah, credit rating makes a big difference as well.

Good luck.

Jim

Chi-One · 12-30-2012, 08:03 PM

I never saw a reduction until I hit middle age! LOL

Texas_RS · 12-30-2012, 08:09 PM

When I was 18 and bought my own truck, I tried to get my own full coverage insurance, a company quoted me $1000 a month, and my truck note was only $400. Lol, I quickly walked out the door.

plus1zero · 12-31-2012, 01:49 AM

I dunno. I got my discount when I turned 24 and a half.

My insurance is about $75 a month on mine. My best friend has a '10 challenger (not a V8) and his is like $120 a month, no idea why. We both have clean records. I use farm bureau though and he uses State Farm. Who knows.

12-30-2012, 06:00 PM	#1
zogster Drives: 2014 RRM ZL1 M6 Join Date: Jul 2011 Location: IL Posts: 659	Insurance drop when you turn 25 So I'm 24 right now, my insurance is $130 a month through State Farm, I have low deductibles and good coverage. In 3 months I will turn 25, been driving since I was 16 (if # of years matters). No tickets of any kind ever, no accidents ever, only claim was when someone keyed my car (comprehensive claim). Should I shop around once I turn 25? State Farm was actually the cheapest out of all companies I got quotes from when I bought the car. Anyone know what I should expect to get as far as how much my premium will be reduced? I have a 2LT.

12-30-2012, 06:29 PM	#4
2Carats Drives: '12 Camaro 2SS/RS LS3 Join Date: Jun 2012 Location: Unknown Posts: 1,264 View My Garage	Other factors go into the amount of your premimum as well. I.e. where you live, what you use the car for, etc. It wouldnt hurt if you "shop around" for better rates, but be aware that the grass isn't greener.... Im sure you've heard it all before. Before you drop State Farm altogether... compare rates and then make a decision based off your research. Ya cant go wrong there! Mind controlled by Cerebro __________________ I solve problems for a living. Either accept my advice or go figure it out on your own.

12-30-2012, 06:33 PM	#5
Ryanbabz71 Drives: 2018 Hyper Blue 1SS 1LE Join Date: Jul 2011 Location: Brownsburg, Indiana Posts: 6,231 View My Garage	Myth, mine dropped about $1 a month ($5 over 6 months) when I turned 25 Ryan __________________ Ryan * 2018 1SS 1LE Camaro Hyper Blue Metallic Car Build: http://www.camaro6.com/forums/showth...0#post10049680

12-30-2012, 06:39 PM	#7
Ryanbabz71 Drives: 2018 Hyper Blue 1SS 1LE Join Date: Jul 2011 Location: Brownsburg, Indiana Posts: 6,231 View My Garage	this was 8 yrs ago Ryan __________________ Ryan * 2018 1SS 1LE Camaro Hyper Blue Metallic Car Build: http://www.camaro6.com/forums/showth...0#post10049680

12-30-2012, 06:46 PM	#9
PalmerGA Drives: 2013 SIM 1SS/RS L99 Join Date: May 2012 Location: Southwest GA Posts: 8,755 View My Garage	Doesn't hurt to shop around, but be advised... many companies will low-ball you and give a great rate initially, only to steadily raise your premiums in coming years. I have been with State Farm since 1980 and (just for the hell of it) get free quotes from other companies every couple of years - no one can touch the rate I'm getting with SF. Definitely call your agent and ask what you can expect your rates to be. Insurance companies love guys like you and me: no tickets, no accidents, no claims (or very minor ones). We are pure profit to them and they reward us for it with excellent rates. Also, if you have confidence (and you should, given your record) in your ability to avoid accidents, consider raising your deductibles. I carry $500 comprehensive and $1,000 collision and my 2013 SS runs me under $30 a month. Good luck, happy birthday, and drive safe! __________________ 2013 1SS/RS Coupe L99, Stainless Power Works LT Headers, SCT X4 Custom Tune from RDP, CAI Inc. Air Intake w/ Apex Scoop, VMAX CNC Ported Throttle Body, Solo Axle-Back Exhaust w/ J-pipes, Apex Catch Can, Husky Splash Guards, Heritage Grille, 3D Carbon Rear Spoiler, Oracle Chrome Turn Signal Bulbs, GM Reverse Light Trim Billets, Gorilla Black Locking Lugs, Emblem Pros Retro SS Badges/Custom Retro SS Kickplates/Under-hood Bowtie, 35% window Tint, Nitto Motivo Tires (6-8-18)

12-30-2012, 06:22 PM	#2
05stram Drives: 2013 RS - 2013 2SS/RS - 1971 RS Join Date: Sep 2012 Location: West Virginia Posts: 1,027	Problem with changing while you are still considered in the risk age actuary _ I believe they bumped the non risk actuary to 40 used to be 35 is most agencies if you have no history with them may drop you. You can always work with your current agent to see if there are savings to be had. 130 a month is not bad for a Camaro for a person in your age group. You should however since reaching another risk actuary see a discount with State Farm. I believe they dropped my sons way back when something like 3 1/2 % but that has been years ago.

12-30-2012, 06:27 PM	#3
dkp2LT Drives: '11 2SS, '11 C6 GS, '04 MDX Join Date: Feb 2012 Location: Kearney, MO Posts: 2,859	Back in 1987 when I turned 25 my insurance for my RX7 dropped from $125 to $35 a month. Not sure what that is in current $'s. Shop around - stay away from the high risk companies like Progressive. Also your agent should be able to tell you now what the future rates will be.

12-30-2012, 06:46 PM	#8
Mr pogo Drives: 96 Imp SS, 13 Camaro 2SS AGM Join Date: Dec 2012 Location: SoCal Posts: 327 View My Garage	when I was barely twenty if even that, I remember my monthly insurance payment was more than the car payment my quote on the 2SS for full coverage with my insurance company was just a hair under $300 per year. I told her about damn time I got a benefit for getting olde

12-30-2012, 07:58 PM	#11
CamaroJim56 Obsessed Drives: 2016 Hyper Blue 2SS RS Join Date: Jun 2011 Location: Riverview, FL Posts: 2,606	Nowhere near 25, but no one touched Geico for me for years, but I checked out State Farm and Nationwide 2 months ago, State Farm was higher than Geico, but Nationwide smoked em to the tune of $25 a month! No tickets or accidents for many years. Also the savings was on 2 full coverage vehicles. DEFINITELY call and check around, personally, I'd stick with the big boys, I never check the little companies. You should see some saving. Oh yeah, credit rating makes a big difference as well. Good luck. Jim __________________ 2016 Hyper Blue 2SS

12-30-2012, 08:03 PM	#12
Chi-One Drives: 2013 DUSK Special Edition Join Date: Sep 2012 Location: Glenview, IL Posts: 362 View My Garage	I never saw a reduction until I hit middle age! LOL

12-30-2012, 08:09 PM	#13
Texas_RS Drives: 2013 1LE/SS Join Date: Mar 2012 Location: Dfw, Texas Posts: 898	When I was 18 and bought my own truck, I tried to get my own full coverage insurance, a company quoted me $1000 a month, and my truck note was only $400. Lol, I quickly walked out the door.

12-31-2012, 01:49 AM	#14
plus1zero Don't tread on me Drives: 23 Sierra X31, Past 2017 Fifty 2SS Join Date: Nov 2012 Location: United States Posts: 849	I dunno. I got my discount when I turned 24 and a half. My insurance is about $75 a month on mine. My best friend has a '10 challenger (not a V8) and his is like $120 a month, no idea why. We both have clean records. I use farm bureau though and he uses State Farm. Who knows.