Insurance troubles...

[NDguy]

Hello fellow Stang fans . I recently got my license last Tuesday, and I'm having a lot of fun driving so far! The car I have right now is a sweet '93 Volvo 940 , and it's for two reasons:
A) I want to drive something around that I don't have to worry about smashing around with, but this is only going to be for my first 5-6 months.
B) Insurance.

Now, I've earned half of what an '05 V6 would cost (my dad told me if I could earn half, he'd pay the other half), and I really want to get one once I think it's the right time, but my main problem is insurance! My dad called our insurance company what the rate was for a 2005 V6 Mustang was, and he said first they laughed and came up with a price of $5000 a year!

Right now I'm on the Allstate plan, but my question is, does anyone know of where I can find a better deal, are there any websites I can get a quote from? I mean I'm probably really dumb for even asking, but I REALLY love the new Mustangs, and I've been hooked ever since I saw the introduction of the retro body style back when I was 14. So yeah...17 year old, V6 Mustang, New Jersey, apparently 5000 bucks a year. Is this actually what it should cost?

 

[lethaljay]

I'm 18 years old and i just called up my insurance wondering what I would need to pay for a V6 for full coverage and with a $1,000 deductible it would cost 873.60 every 6 months . I think a $500 deductible is 1,070 every 6 months. This would be under my name but under my parents policy so I would gain ALOT of deductions off that total cost. OH yeah i live in the great state of Kansas! I also have Shelter insurance and I have no tickets or wrecks **knock on wood **

 

[Tex81]

Try USAA, although I think you have to have an immediate family member or yourself currently or formerly in the military. I got almost $600 knocked off my 6 month bill recently because insurance costs went down in Texas (now I pay $200 or so a month, but I'm still one year under the 25 mark and have two accidents lingering on my record for another year) so they're obviously pretty good about lowering your costs when they're able.

I'm saving money to get a GT next year right around the time I turn 25.

 

[Szlachcic]

It sounds like you are paying for the entire car when you buy it. This really helps and should lower your insurance since you will not owe anyone anything for the car.

 

[antdog]

It sounds like you are paying for the entire car when you buy it. This really helps and should lower your insurance since you will not owe anyone anything for the car.

Owning the car just changes the type of liability you must have on the car. If it financied, the finance company requires full coverage. If you own you only need liability. So if you are in accident the other vehicle or property is covered and the repair of vehicle is out of your pocket.

 

[3RD1]

Try http://www.progressive.com/ It will give you comparissons of different companies.

 

[GSAgentED]

dont feel too bad I live in NJ aka Insurance Rape capital of the world my insurance on the gt is more then my payments, but when you gotta have a stang you gotta have one

 

[hotrodnut]

Just keep the Volvo with you insured as the primary driver on it. Get the Mustang put in Mom's name and her insured as the primary driver and you drive it when ever you want and you will be covered.

 

[ILikeBond]

I've been quoted as high as $8,000 a year for BARE BONES insurance on a GT - i.e. highest deductibles, lowest coverage possible to select by law. I'm told I live in the highest insurance zip code in the nation! I'm 25, an attorney, no tickets in the past 5 years, have had continuous coverage for a few years... makes me sick. But insurance comes down to the demographic game, and being a young male with a sports car is as bad as it gets.

Try looking at compairson market:

https://www.comparisonmarket.com/QuoteStart.aspx

I use Geico, which I think is OK.

 

[sam_abuelsamid]

Try out esurance.com. I switched to them last month and they came in a good 30% lower than any other quote I got. I am paying $640.00 for 6 months on the V6 stang and a 2000 VW passat. That's for full coverage including loan gap coverage and $500 collision deductable. You can go on the website and generate the quote yourself and try different coverage combinations to see how they price out.

 

[ILikeBond]

Try out esurance.com. I switched to them last month and they came in a good 30% lower than any other quote I got. I am paying $640.00 for 6 months on the V6 stang and a 2000 VW passat. That's for full coverage including loan gap coverage and $500 collision deductable. You can go on the website and generate the quote yourself and try different coverage combinations to see how they price out.

esurance quotes me $4,014 for 6 months for a GT. Absolutely rediculous...

 

[Szlachcic]

Quotes don't always give you the best idea. You might want to try calling and see what they say.

 

[d'artagnan]

I have AAA on all our cars, Full Coverage on 04 Expedition, 05 GT Vert, and the bare minimum on my 94 GT Vert. My total annual bill is a bit over $2300. Until I read this thread I thought I was getting screwed. Maybe I should quit complaining to my agent.