$250.00 a mo. Insurance DTLA
 

So i feel like im paying waaay too much for insurance. Wanted to get an opinion. I pay $250 a month. Thats $3000 a year!!!

2015 FRS 4 months old
Clean driving record. No accidents & or Tickets
Live in Downtown Los Angeles
Commute 20 Miles a day

Currently have Full coverage, $300,000 bodily, $100,000 Property, $60,000 Uninsured motorist (Mercury Insurance)

Is my coverage too high? I was told because i am making payments on the car i had to meet the lenders coverage requirements.(I am buying, not leasing) I have not been able to find lender (TFS) requirements anywhere? I have an insurance agent who is supposed to find me the best deals, he supposedly found this information. I feel a bit skeptical.

Is there anyone else living in or around Downtown Los Angeles that can give me something to compare to? Any opinions would also help.

How old are you and what's your insurance provider? I'm in the 626 area and I paid about 150~

im 27 yrs old

get a quote from geico

Out of curiosity, I got a quote from somewhere I have experienced as being inexpensive, they told me 216/mo.

woah, i'm 28, i pay 180 a month for my car, my gfs jeep and renters insurance. I live in Denver. Look into safeco insurance

at 27 with a good driving record you should be ~100...

Look into something new

The lenders stuff just means you need comprehensive coverage, in short if you lose the car for whatever reasons the lending company wants their money back.

Yes you're paying a high amount unless you live in an extremely high risk neighborhood and everybody is getting screwed there, ditch the broker he's probably screwing you.

I've had great rates with AAA, GEICO was always high so I never followed through with their quotes the three or four times I checked.

You pay a helluva lot. I pay <$800 year. You owe on the car you have to have full coverage everything until <$5k where I live. Pretty much the same everywhere though. I'm older and have 4 cars and a house with the same insurer so my discount is significant. Still you pay a helluva lot for insurance.

damn, i was paying that much when i had Progressive

i switched over the mintute Geico told me it would only be $130 a month

25, clean record in Jersey

I pay $170/mo in Denver at age 30 with points & sr22 and a DUI on my record... I used to have Safeco, but they didn't handle the DUI very well. I have American Family now. FYI Progressive forgives your first DUI as well, they were going to be $220/mo.

You are definitely overpaying.

God I love these "what is your insurance rates" threads!
Unless you live within about a block, have exactly the same training/experience, are the same age and have the same record insurance rates can vary by $1,000s a year.
Just shop around for the best rate you can get and don't worry about what others are paying because you may never be able to get that rate!

Ugh...why is it that no one understands how insurance premiums work.

Like strat61caster already explained, a lot depends on where you live and the car you have. Being in Boston, I pay a little less than $1500 a year AFTER a 10% discount with no dings on my driving record affecting my premium. If I lived in a town 5 miles away, it would probably be $900 a year. It doesn't matter if I'm married or if I was 23 years old or if I was 50.

In Ontario age doesn't really factor in per se but years of driving do so the 20 year old driving for 3 years will not have the same rate I would with driving for 40 even if everything else was exactly the same.

Good example. I should've also added that different states, provinces, and countries have different regulations on how points are calculated. In my state, you hit the lowest rate after 6 years of no surchargeable incidents. No one under 23 will ever qualify for those rates here.

They must charge more for more heavily populated areas. I pay 88/m with geico full coverage. 24 clean record.

The area you're in probably raises the rate a little. Definitely check out geico. I believe they give out almost the lowest rate for young people driving FR-S's. Mine is $120 a month with my FR-S and my miata on liability. I even lowered my deductible to $500 but I had to finally drop PIP.. To much money.. lol also uninsured motorist costs a bit. Anyways one way or another you should be able to find far cheaper somewhere else.

Age is a huge factor until you hit 25. If you have a 26 year old that has had his license for 3 years and a 20 year old with their license for 3 years. The 26 year old's rate will be significantly lower. But to contribute to this thread with people complaining about 250 a month, I'm paying 484:bonk:

I stand corrected.
OK, so when you reach my... ummmm... ahhhhh... "advanced" age it no longer makes a difference I guess. They were supposed to get rid of that whole age thing a while back but I never really paid attention if they actually did.

And $484 isn't too far off what I pay a year!

Move away, that's really your only option to see a significant decrease.

I'm 26, clean record, fully insured, and I live in a small town in Massachusetts with a population of 3500.....$77 a month.

If your record is clean, and have 6 years driving experience with a license, your location is the biggest factor.

A. Your coverage is too high.

B. You're getting RAPED!!!!!!!!!

The only thing more useless than a "...how much does insurance cost?" thread is...uh...well...nothing is more useless.

No one ever mentions their assets, which is why insurance rates will differ.

If you own a house, property, or other land, you'll be paying more.

If you don't, then you really do have a bad deal.

Let's go over aspects of insurance that affect your rate:

ZIP/Postal code
Driving record
Age
Credit history
Cost of car
Liability limits
Deductible
Secondary coverage (medical, uninsured motorist, etc)

That's before the deductions such as multi-car policy, garage, anti-theft, multi-insurance, etc etc.

-alex

Well thats your problem right there son

Boils down to a monitory duck measuring contest really.

Thank you guys for all of your feed back. This really helps me out. Im going to try several different things.
No insurance agent, search for different rates from other companies, possibly even try and put it under a different address.

Thanks again all your feed back really helps.:thumbup:

I would call the insurance company directly and not go through an agent. I had Progressive through an agent for a while. I ended up calling them directly to get a quote and it was a few hundred cheaper. I pay every 6 months which also knocks off a couple hundred.

Wow, now there's a unique idea!

$250 is high man, ill sell that firs

"Will next year's 86 get more powah?"

Damn, 130 a month with two cars full coverage for me, both me and my wife are 25.. My driving record has a few bumps from seatbelt tickets on it.

I actually just switched to Geico a couple of months ago and reduced my payments from $135 to $85 a month. Got way better coverage to boot. I should do one of those commercials for them. lol

Uhh I don't think you need a coverage of 300k, 100, 60. lol.

I'm $46 / mo for my BRZ with USAA. I'm bundled with my wife's car and my house.

I'm glad I'm a 35 year old father and homeowner so I don't have to get ****ed by insurance

It's obvious you don't own a house or other tangible property that can be taken from you if you caused an accident that exceeded your insurance policy liabilities.

I have that type of coverage on my cars, and my total premiums for 2 cars (CT200h + BRZ) is $2700 per year.

Oh, and $100 deductible. In 91745. Garaged. No tickets and AAA member for 22 years (15+ with insurance). House + life insurance with AAA too. And other variables.

Your quotes may vary.

-alex

There's your problem.

I'm 24 with a CLEAN driving record. Absolutely spotless. And I pay $80 a month for 2 cars. One of them being my beater car. Geico insurance.

You are paying a lot that's like Canadian pricing for insurance for a teen over here. My brother in so cal insurance is very cheap

holy shit dude.

im 28 single male, live in los angeles, have mercury insurance. its about $50 a month.