lusnooy

today i got a quote from my insurance agency as i'm preparing to get a new RX8 late this month.

FYI, I'm in North Jersey, 22 years old, 1 ticket for making a left on a no-turn intersection 3 years ago in NYC.

My quote: $6100.00

Now beat that if you can.

are they serious? did anyone get such a high rate as mine?

I think i just set the guiness book record today.

thanks in advance.

-tommy

p.s. if anyone can suggest a cheap insurance company in NJ, please do.:D or i'll be rx8 less until when i'm 70 years old.

Truss

Shop around a lot. Insurance companies vary widely in their rates, and there is no absolute order of "cheapest" and "most expensive." Some established companies will surprise you with good rates, and some supposedly budget companies (Progressive, you know who you are!) will shock you.

T.

lusnooy

yea thanks for reply, I'm going insurance shopping tomorrow after work.

I forgot to mention that quote of $6100/yr is also with both of my parents in it(they have cleanest record ever)

w2aew

Ouch!!! Are you sure they didn't give you the 5-year rate! ;-)

Yeah, shop around. Your age is going to hurt you, unfortunately, but it shouldn't be THAT much.

FWIW - I pay just under $1100/yr for the 8 (100k/300k liability, 500 deductable). But, I have 4 cars on the policy, and I'm 41 yrs old. Insurance company is Highpoint (used to be Prudential).

red_rx8_red_int

Yes, shop around, $6100.00 is way too high. This is a 4 door car.

Elara

Yikes- that would pay for insurance for me and my husband on our 8 and BMW for five years!! Definitely shop around.

whosyourbaba

i got quoted 4 grand for a yr by statefarm at age 18. Do you have like muti-car and other discounts? You try moving cars around to make it cheaper? I got switched to a 94 accord which only cost like 700 a yr. sister got rx-8 for about 1 grand. some agents will move around people to make it cheaper.

lusnooy

that $6k quote was the best price i got from this agency. I have a 1993 infiniti G20 also and when i do multicar discount with it, it's still $7200.00 all together ( G20 being $1100.00/yr) they said the rx8 will be much more if it was by itself.

i asked to put me as primary driver of G20 and my mother as the 8 driver. but they said the insurance company will know I'll drive the 8. smell BS??

StphNieuw

What a Load of CRAP!!! Seriously shop around... I live in PA were rates are better then NJ and I still managed to save $500 dollars when I was switching from my old company to Geico. Granted I still think it is too high but haven't had time to check the prices again.

lusnooy

if i happen to end up with $6k quote on this car no matter what, F#$@ that, I'm taking trains and buses. i'd rather walk.

mikeb

wow
I thought my 2500.00 a year was bad

DavisRx8

I have a perfect 5 year driving record and was still quoted $4000 or so by progressive. My neighbor with an Rx8, who's 26, got quoted $2400 for the same policy plan....it seems if you're under 25 years of age, you'll be hit with a higher insurance rate regardless of your record.

neofreak

iTrader: (1)

Try esurance.com

rotaryxlr8

Being that I worked for an Insurance company for a good portion of my life underwriting automobile policies, I know that New Jersey has some pretty f'd up legislation where there's a lot of big companies that choose not to write policies there.

Those who do write policies in NJ likely have very limited underwriting capabilities where rather than not insuring a specific type of car or driver, they set the rates to be how they can keep from insuring a risk that they otherwise would not write. You receiving a quote of $6000 plus just tells me that there is either something about the RX-8 they don't like insuring, or they simply do not want to insure any sports cars. It's a game really, and it sucks but combined with state legislation and greed, what can you do?

Others who share this forum will not be able to have a true grasp unless they, too, are from New Jersey. As a good reference point, get quotes on other "sports cars" like the Z or the G35 and see what they're charging for those in comparison.

Just so you know, I've seen worse premiums and had to be the one to deal the blow to the customer. Needless to say, I've left that industry a loooong time ago.

kuciaman

How bad is your driving record? Most of the time if you have a half decent record you should not have this kind of rate. Now NJ is a different animal but there is no reason that you should have to pay this unless you have a record as long as this forum. I'm a State Farm Agent and kinda know what I am talking about. Good luck.

Leadfoot27

You need to shop around. I am also in NJ(south). I was somewhat lucky in that I'm much older than you w/ no tics or accidents on my record. I carry homeowner's insurance w/ the same company and I have another car on my policy. Since I am single, I not only get the two car discount, but was able to designate my Nissan sedan as the car I drive to work. They classified the 8 as strictly pleasure driving, hence a much cheaper "tier rating". I pay 1100/yr for full coverage on the Nissan, and only 840/yr to add the 8. .....By the way..they were right about the "pleasure driving" part.

lusnooy

my driving record is not at all bad. about 4 years ago, I went in to NYC and made a left at an intersection. i got pulled over and got a ticket for that. I'm a NJ resident. but again, that was 4 years ago. that's all I got for points.

this really is irritating me. i also found out my friend who is 21 now just got a 2001 BMW 330xi, NJ driver, paying $600.00/yr full cover. WTF is the deal??!!

expo1

[QUOTE=lusnooy]my driving record is not at all bad. about 4 years ago, I went in to NYC and made a left at an intersection. i got pulled over and got a ticket for that. I'm a NJ resident. but again, that was 4 years ago. that's all I got for points.

How many points did you get? In NJ you get points removed for every 12 months of ticket free driving.

http://www.state.nj.us/mvc/faqs.html#points

You should have Zero Points, there is enough money involved here that you should go to Trenton and get your drivers abstract ( record since day one) or go here

http://www.state.nj.us/mvc/d_driver_history.html

lusnooy

isn't it true that after 3 years of ticket free driving, you will get all the points taken off from your records? no matter how many points you have.

anyway, when i talked to my insurance agent they told me i still have the points from NYC because NYC DMV processed the ticket so late and sent it over to NJ after more than a year from the actual violation date. ???

anyway, even with this ticket, i don't think i should have to pay $6100.00/yr.

arattle

Don't bother with agents, either. They have to make their buck somewhere, and they're not going to sympathize with you if they can make a larger commission instead. NJ is tough, try Geico (I think they still have accounts in Jersey?) or some of the local companies. esurance.com or insurance.com are good places to compare a few quotes - I did, and most were reasonable. Nothing even close to 6100/year. I pay 1125/6months in Philly, but I do have a couple speeding tckets, and Im' only 24. I expect all this to improve when I turn 25 in January.

-arattle

expo1

Geico got out a while ago; they also had to give up any Property & Life policies when they left. NJ is that bad of a market that it was better for Geico to not do any business in NJ than to continue to write auto policies.

http://www.state.nj.us/dobi/carphone.htm has a list of companies that still do write polices

The rest of that site http://www.state.nj.us/dobi/filings.htm might be helpful also.

kuciaman

WOW, what a blanket statement!!! I'm sure that all insurance agents try to make every bit of money off of each person regardless of what is ethical. You did a fine job of showing your age.

kuciaman

If the incident happened 4 years ago, it should not count against you. I'm not familiar with NJ laws though but they tend to be much different than most of the country. I'd really recommend checking with some major companies up there. They will run your record and also most companies are using some sort of credit scoring as well. If your credit is really bad, they may be holding that against you too.

rotaryxlr8

Funny...GEICO was the insurance company I used to work for. Good company for policyholders...not for those who work there; unless being micromanaged is your thing. Good luck.

lusnooy

my agent who gave me that $6k/yr quote, i believe they didn't even run my credit history. I have a great credit with 4 credit cards for years; no late payments, and have had a couple motorcycle loans paid off.

thanks a lot EXPO1 for the links to the insurance companies. I'll try them out this week.