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Car Insurance with limited driving record

post #1 of 8
6/11/11 at 2:12pm
Thread Starter 
I'm under my dad's plan currently, but now that I've graduated and have a job, I want to have my own policy.

I got my license in the US when I was 19 and only have two years of records. I had zero traffic violations or accidents, until freaking last month when I was driving back for 3 hours from interviews and dozed off and rear-ended someone at 1 MPH. No damage to either vehicle whatsoever, but the guy filed a claim - can't blame him.

That being said, I got an online quote from Geico, and with all my inputed information, my insurance premium would be around $420 PER MONTH!! and all the coverage seems to be the BARE minimum. By adjusting the policy for higher coverage, it comes out to around $470 a month.

Anyone have any recommendations for cheap insurance for people like me? I'm in MA. I notice that there are a lot of no-name insurance companies. I'm sure those would be cheaper than, say, geico, liberty mutual, allstate and whatnot.

I know the car I'd be insuring plays a huge role, and these are some of the options I'm looking at:
a) 2011 GTI 4-door
b) E46 330Ci ZHP
c) 2000 Audi A4
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post #2 of 8
6/11/11 at 2:46pm
I would say find an agent. But be careful with no name companies, especially on liability. You could end up spending a lot of time in court, and, depending on what kind of assets you have and your state laws on collecting judgments, losing a lot of money.

Do you think you could handle a policy with a high deductible? A brand new car is going to be pretty expensive to insure, especially for a teenager with a recent at fault accident, but if you can handle a maximum deductible that will save you some money. Don't try to save a few bucks on uninsured motorist coverage, as you would be surprised how many people are driving around with no insurance.

I should mention that I don't know about MA laws, so there might be something unique to your state that you can do. Once again, an agent would be able to help you with that.
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post #3 of 8
6/11/11 at 2:49pm
Generally speaking, it's prudent to select the auto insurance provider with the funniest commercials or the sexiest spokesperson.

In this case, logic suggests a battle royale between Nationwide Dude and Erin E-surance.
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post #4 of 8
6/11/11 at 2:49pm
Thread Starter 
Quote:
Originally Posted by munchausen View Post
I would say find an agent. But be careful with no name companies, especially on liability. You could end up spending a lot of time in court, and, depending on what kind of assets you have and your state laws on collecting judgments, losing a lot of money.

Do you think you could handle a policy with a high deductible? A brand new car is going to be pretty expensive to insure, especially for a teenager with a recent at fault accident, but if you can handle a maximum deductible that will save you some money. Don't try to save a few bucks on uninsured motorist coverage, as you would be surprised how many people are driving around with no insurance.

I should mention that I don't know about MA laws, so there might be something unique to your state that you can do. Once again, an agent would be able to help you with that.

Thanks. Yeah, I've been shopping around for quotes and I just got a pretty good one from Amica. The coverage is pretty good (a lot better than the Geico coverage) and the annual premium is about $2.5K, so that's almost half the premium of Geico's.

I can't believe there's such a huge discrepancy between the two.
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post #5 of 8
6/12/11 at 4:58pm
Check with the carrier your dad has. Sometimes the majors are cheaper than some of the "off brands." Check prices with as many as you can.
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post #6 of 8
6/12/11 at 7:10pm
work might also give you benefits for cheaper insurance...
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post #7 of 8
6/12/11 at 7:36pm
Quote:
Originally Posted by GreenFrog View Post
Anyone have any recommendations for cheap insurance for people like me? I'm in MA. I notice that there are a lot of no-name insurance companies. I'm sure those would be cheaper than, say, geico, liberty mutual, allstate and whatnot.

There are "only" 32 companies that write auto insurance in MA, because we have a quasi-regulated system. Out of those, only a couple are "no name" kind of places, and they're not much cheaper. USAA is almost always the cheapest, if you're eligible, but you really have to shop around - rates for the same coverage vary by as much as 200%.
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post #8 of 8
6/14/11 at 12:58am
sadly you are kinda screwed for a few years I was in your same spot when I went to buy a 2004 gli 6 spd. I shopped every company and could not find anything under 2k. You just have to suck it up and pay out the butt or stay under your parents for a few more years. I just turned 25 my rates dropped so much! I pay under 100 a month now. stay away from the old audi great car classic model, but not fun to insure its already 11 years old. get the new vw.
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