Car Insurance Premium age 25 | TigerDroppings.com

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PhiTiger1764
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Car Insurance Premium age 25



I am a male turning 25 next month and just received my new car insurance quote in the mail. I have been waiting for this milestone so that my rates would go down. I go through an independent agent and they currently have me with Hanover Insurance Group. My monthly premium has gone down from $141/month to $112/month. Is this generally about how much rates should go down?

For the record, I drive an 04 Avalanche with 132k miles, have been in one accident (not at fault), and had one speeding ticket at 16, so my record is pretty clean. Second question, am I paying too much? This is what I'm paying for:



This post was edited on 11/25 at 7:48 pm



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ATL TGR
LSU Fan
Houston
Member since Apr 2008
2878 posts

re: Car Insurance Premium age 25


Wow. That seems incredibly high.

We have 2 drivers 2 cars and 100/300/100 plus comprehensive and collison for right under 100/month. No major at fault accidents. Same age range.



This post was edited on 11/25 at 7:24 pm


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wegotdatwood
Arkansas Fan
Member since Aug 2009
17094 posts

re: Car Insurance Premium age 25


You're getting ripped off big time. I'm with USAA and it's $144 a month for an 07 xterra and 11 malibu. 1 ticket for me and I'm younger than you. I'm with USAA and that probably has something to do with my rate.

My coverage is 100/300/100. Not 25/50/25

$500 deductible.






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LSUtigerME
LSU Fan
Walker, LA
Member since Oct 2012
644 posts

re: Car Insurance Premium age 25


Seems a little high for that coverage, but not outlandish (to me). I'm not sure what year/model truck you have as that can make a difference.

I pay around $140/mo/vehicle for mine. When I had my Silverado 1500 it was about $110/mo. However, I do have 100/300/100 and $500 deductibles, and one minor parking lot accident, no tickets (lose a signifiant claim free discount).

I'd suggest shopping around.






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PhiTiger1764
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re: Car Insurance Premium age 25


I drive a 2004 Avalanche with 132,000 miles. Thanks to all for the responses so far. Looks like I need to shop around.





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tom
Baton Rouge
Member since Jun 2007
3344 posts

re: Car Insurance Premium age 25


If you live in Louisiana, you probably won't do too much better.





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TheHiddenFlask
Clemson Fan
The Welsh red light district
Member since Jul 2008
16927 posts

re: Car Insurance Premium age 25


quote:

If you live in Louisiana, you probably won't do too much better.


I live in LA and mine went from ~$145 for 25/50/25 with comp and collision to $84 for 100/300/100 when I turned 25.

I was getting hosed before (farm bureau) and got a great rate after (geico), but shopping around made a big difference. Geico beat all other companies by about 20 bucks a month.






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KG6
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Member since Aug 2009
2595 posts

re: Car Insurance Premium age 25


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This post was edited on 11/29 at 2:53 pm


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Will Cover
Washington Fan
Whiskey Dick Mountain, WA
Member since Mar 2007
25048 posts

re: Car Insurance Premium age 25


Seems like you're paying too much.

I have 100/300/100 with UMI for 3 vehicles - 2012 - Nissan Altima, 2003 Acura MDX and 2008 Jeep Wrangler Sahara and pay $1900.00 a year with USAA. $1K deductible.




This post was edited on 11/26 at 10:32 am


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PhiTiger1764
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re: Car Insurance Premium age 25


quote:

Geico was able o get me a very low rate. I never made a claim with them so I don't know what kind of customer service they have. I heard it wasn't great.

This is what I am concerned with. But I would love to save $350/year on car insurance. I want to buy a house in the next year so I'm looking to save anywhere I can.






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KG6
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re: Car Insurance Premium age 25


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This post was edited on 11/29 at 2:53 pm


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bryso
Clemson Fan
The Real Death Valley
Member since Dec 2006
27078 posts

re: Car Insurance Premium age 25


i am 26 2002 Acura mine is roughly $90 a month.

2 wrecks in the past... i carry 100 50 100... so your number does seem high.







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NaturalBeam
LSU Fan
Member since Sep 2007
13113 posts

re: Car Insurance Premium age 25


What kind of assets do you have? A $25k limit is very low.

*Also, that quote does seem very high. My wife and I (28 & 26 yrs old) have 60x that coverage, including UM, and it's $1700/yr for both of us combined.



This post was edited on 11/26 at 3:09 pm


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PhiTiger1764
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re: Car Insurance Premium age 25


quote:

What kind of assets do you have?

Assets? Truck is paid for. Rent a condo. No debt. Good credit. Is that what you mean?






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NaturalBeam
LSU Fan
Member since Sep 2007
13113 posts

re: Car Insurance Premium age 25


Yes. The idea behind your policy limits is to have limits that are higher than the value of your shite after bankruptcy. So when you accidentally hit a guy who racks up a half million in medical bills, his options will be to accept your insurance policy limits from your insurer, or to personally go after your assets. I do this for a living, though fortunately I've never had to go after someone's house.

A $25k limit is barely above the state minimum. So if you have stuff worth taking, I would highly recommend you increase your limits. You'd be surprised in that the premium increase won't be as much as you probably think.

Also, make sure you have the matching UM policy (which you already do) in case it is you that is hurt.

*For comparison, my wife and I just bought a house for around $210k - we have 2 vehicles and a little money in the bank - I carry $500k limits and a $1M umbrella w/ UM coverage.



This post was edited on 11/26 at 3:58 pm


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PhiTiger1764
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re: Car Insurance Premium age 25


Thanks. That's a lot of good info. I will definitely take this into consideration as I plan on buying a house in the near future.





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Lou
LSU Fan
out here in the middle
Member since Aug 2005
6816 posts

re: Car Insurance Premium age 25


I pay $73/month, and that covers my truck and my boat. Been with Farmer's since 1996, have not had one complaint ever.





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Hand
Army Fan
far side of the moon
Member since Dec 2007
2000 posts

re: Car Insurance Premium age 25


It appears that I'm taking it raw from Allstate. I pay $176/month at 26yo. Time to shop it.


This post was edited on 11/26 at 4:41 pm


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prostyleoffensetime
USA Fan
Mississippi
Member since Aug 2009
6531 posts

re: Car Insurance Premium age 25


I have two trucks with Travelers. 01 GMC 1500 Z71 & 06 Ford F-150 Lariat 4x4. I think I have 100/300/100 on both of them. Never been in a wreck, 25 yrs old, had two speeding tickets when I was about 20. I pay about $140/month.





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Signature
LSU Fan
Omnipresent
Member since Sep 2005
6453 posts

re: Car Insurance Premium age 25


Hmmmm. Appears I've been a bit negligent.




29years old. Clean record. 07' BMW 5series and I'm paying $140 with Progressive.






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