20 year old, question about insurance.
 

I'm twenty years old, and I've been under my parents insurance for about two years. I would like to purchase an FR-S by the end of the year and have been wondering about how much insurance would cost me.

I haven't gotten any traffic tickets and I haven't been in any accidents.

What's the least that I'd be able to get away with paying for insurance?

What I would do if I were you, is find a VIN number for a new or used FR-S (depending on what you want) and then get a quote from your insurance provider. That's what I did.

Like this one: http://www.scionofmanhattan.com/new-...0D1721141.aspx
JF1ZNAA10D1721141

Or these: http://www.prestigescion-ny.com/sear...spx?model=FR-S

I don't think transmission will affect your rate, so that's what I would do. That will give you a solid number.

Hey there.

Insurance depends on many things. Your driving record, your family insurance policy, your grades (if in college), the state, etc. Only an insurance company can really give you the details you need.

Insurance will be quite a lot, not going to lie to you (expect something around $150+ a month). Your best strategy (assuming you are on your family insurance policy) is to be the primary driver on an older car, and secondary driver on the FR-S/BRZ/86. This will give you significant savings.

Hope I was able to shed some details. Good luck. :)

i am 21 with no tickets as well and for me through progressive it was roughly 1200 every six months, but if i did it as a rider under another policy it would be only $400!!! so that is what i did, i mean an extra 1600 a year for me, ill take it

Also what KyleGato said. Great idea.

They look at your grades in the US? WTF lol. 150+ sounds really really high... is it that much for you guys? I have 2 cars insured with me as the primary (and only) driver, including my FRS, and it's $118/month. Some speeding tickets on there too.

Yes, its called "Good Student Discount" or "Academic Award."

I saved 20% off my insurance in college because of it. :happy0180:

And yes, insurance for a male under 25 is crazy expensive. The poster above mentioned ~$1,200 every 6 months. Not the first time I've heard a number like that for someone under 25.

I am in the same boat. The cheapest I've found are Geico @ $96 a month and AllState @ 131 a month. Both are full coverage. I'll probably go with Geico.

I'm 23 Y/O, no at fault accidents, no tickets, good student.

It depends.

When did you get your license? Are you a full time student? Do you work full time? How many miles do you plan on driving yearly (make sure to take your commute, whatever it is, into consideration)?

I am 27, and full coverage is going to cost me about $600 a year (not bad). I've never been in an accident, have had no tickets in the last 10 years, and have been driving since 16. I also had a good student discount (LoJack is a joke, saves you $1 per month - you do that for personal reasons). Even then, my insurance went up about $100 from my previous car, a Mazda 3 hatchback.

Insurance will be expensive for a 20yo, even without accidents and tickets. Depending on your agency and your luck, you could see anywhere from $700 - $1,400 a year. I agree with @KyleGato, and props to you for doing your research!:word:

What you need to do is stop asking internet forums for insurance advice and just start calling insurance companies. Insurance varies greatly based on a huge number of factors, the first one starting with where you live.

Buying insurance isn't like buying a car... the sell price is not "fixed", it's based on risk.

-alex

Insurance rates aren't just different between states, they will be different between two adjoining counties or even two different zip codes. The best you can do is shop in your area and use those numbers to make a decision.

Could be less than $100 a month, could be $400+, like whaap said, it varies even down to the zip code, one big statistical spreadsheet to maximize profit.

That's not true.

Insurance (of any kind) is summed up by one word: risk.

Where you live has a huge impact on your rates, because your area determines your risk.

Case in point: California would have low rates for flood insurance. But earthquake insurance? The premiums are (fairly) high.

Go to the south, and you have the opposite.

To a lesser extent, the amount of accidents/claims/fraud in your area also impact your rates in the long run. Rates in Detroit Metro are much higher than Mt. Pleasant, MI, for example, even though the two are not far from each other.

-alex

Mid twenty y/o, 2 tickets 4 years ago, $1500 every 6 months. Expect it to be high, that's all I'm saying.

Thanks for validating my summarization of it as a "statistical spreadsheet"

maybe we disagree on the motivation "profit" vs. "risk" but last I checked insurance companies had pretty wide margins.

:happy0180:

Edit: and my parents pay an ass ton for flood insurance next to a dinky little creek so eff that, earthquake is rolled into homeowners insurance and really isn't noticeable (*cough cough* tornadoes, hurricanes, hail, snow are all absent)

Close to 23

I pay abt $1100 for the whole year

In general, perhaps, but profit vs revenue, the insurance industry averages less than 10% profit. They're not exactly making a killing here.

http://biz.yahoo.com/p/sum_qpmd.html

In any case, OP: please just find out what you expect to pay instead of asking us for info, because none of this helps unless we're your twin living next door to you. Which would be creepy.

-alex

Edit: earthquake insurance is NOT under homeowner's insurance in CA. http://www.earthquakeauthority.com/index.aspx?id=13
Source: my own homeowner's insurance.

I'd make two points.

Shop around. The first time I got car insurance I didn't and I got ripped off (meaning I let them). If you're talking to an agent, ask point-blank: Is there any way to lower the cost?

And if you finance the car, the financing company may require things of your insurance. (Mine requires a $500 deductable, though I'd go with $1000 if I had my way.)

WWW.GEICO.COM. Had a brand new M3 when I was 24 and a Camaro SS, full coverage on both cars was $1100 per year. With the R8 and DD civic my yearly rate is $1400. R8s are supposedly the most expensive cars to insure.

lol, 10% profit on something that is relatively expensive and nearly EVERYONE has qualifies as a license to print money, if you ask me.

Don't forget to mention you are a member on here. It's called "Ft86club Member Discount" or "Enthusiast Award"

Saved me 20%

damn thats cheap!! What insurance and coverage do u have? I live in simi also

This is just this year, as of right now...

The industry varies. In 2009 their profit was only 3.3%
http://money.cnn.com/magazines/fortu...tries/profits/

In any case, my point is the industry is not as profitable as it seems. Not when compared to other giants such as energy, pharmaceuticals, internet providers, securities, etc.

-alex

It will be very high, especially if you are on your own policy. Frankly if I had it to do over again, I wouldn't have taken out a loan on a car or gotten full coverage insurance until I was at least in my mid-20's. As it was, I didn't buy my first new car until I was 26 and had been married for several years (IIRC my insurance dropped when I turned 21, and again when I turned 25). I was paying around $250/month for full coverage on two cars when I was 20. Now I pay considerably less than that for six cars. I threw thousands of dollars away on insurance when I was younger that I wish I hadn't.

Definitely call around to agents in your area though, no one on this forum will be able to give you any sort of accurate estimate as to what you will pay. Definitely have several quotes in hand before making a firm decision on the car.

Damn, I feel like I'm kind of getting ripped off by State Farm...

18 yr old with 1 accident on the car prior to my FR-S: was paying $150/month (Liability only)

Still 18 and bought FR-S in cash: now paying $240/month (Full coverage: $1000 deductible)

Wow...some of you guys are getting hosed! Granted I'm 27, she's 26, but we have the FRS and my wifes 2012 Land Rover LR2 insured under the same policy and we pay $470 TOTAL for both vehicles for 6 months. That's less than $40/mo per vehicle for full coverage w/$250 deductibles.

I pay 133 a month with State Farm for my FRS and 2011 Jeep wrangler both full coverage

Man U guys are getting screwed over if I had to pay more than what I'm paying I wouldn't have gotten the frs. 2500 a year for insurance is close to my payments for the year. Doesn't make sense to me money wise.

Brb opening my own insurance company

Brb abt to be filthy rich

26 year old male in FL with only the FR-S. Clean driving record.
I just switched to Geico and am paying $105/month which is down from the $145/month I was paying with USAA and got better coverage with Geico.

Insurance depends on a lot of factors; age, type of car, zip code, driving history, deductibles, and limits. Full coverage means different things for different states and you might have "full coverage" and have incredibly low limits. In FL the bodily injury minimum is $10,000 per person and $20,000 per accident which in a serious accident you are screwed because that covers nothing. Also consider the deductible, see the difference between $250/500/1000 deductibles on your policies and ask yourself is it easier to: a. come up with a $1000 at once to save maybe $12 a month or B. pay $12 more a month and only have to come up with $500.

Shop around and ask your parents for some input and look at everything (deductibles, limits, company claims service) not just the monthly cost. I shopped around and for similar coverage I was quoted everywhere from $96-$245 a month for the same coverage.

More very good points to consider.

I switched to Geico and got the rates I mentioned a few posts up. Was always with Shelter Insurance under my families policy and was paying $1100/yr on my Tacoma with a $1000 deductible :(

Here are the rates we have on our policy...
Bodily Injury Liability $300k/$300k
Property Damage Liability $100k
Medical Payments $10k
Uninsured and Underinsured Motorist $100/$200
Comprehensive and Collision Deductibles $250.00

You generally don't want/need coverage amounts such as bodily injury liability much higher than your total assets that you can be sued for. So if you're young, on your own, don't own a home and don't have a lot of assets, you can generally get away with lower liability coverage amounts or your state minimums and find some lower rates. The comprehensive and collision deductibles are generally the most expensive parts of a policy. Your monthy payments can drop significantly by raising your deductible, but as UnOvertime mentioned, many lenders have a maximum requirement on what that amount can be so as to make sure the vehicle (which is technically theirs until you pay off the note) is more likely to be repaired.

Just get an online price quote. Many major auto insurance providers, like Geico, Progressive, State Farm, etc., have online forms you can fill out with your driver's information and the car you are looking to get and they spit out an instant quote. Since you don't have any accidents or tickets on record, these quotes should be highly accurate.

Yes, and you live in Nebraska... for insurance purposes what you pay is not relevant to the rest of us.

Car insurance (as a whole) isn't just about where you live, it's also about the people around you.

- number of miles driven per year
- amount of vehicles on the road
- number of accidents (average) in the area
- number of thefts in the area (average)
- max limits on your policy
- uninsured motorist coverage
- deductible
- your driving record
- your age
- number of policies you own
- your grades (shows responsibility that is reflected in good GPA, a sign of reduced risk)
- number of cars you own
- etc

There's so much more to insurance than just comparing straight dollar amounts.

-alex