Okay so most of you probably know me i've been lurking around the forums for over a year now. The time is approaching for me to get my 8 and i need some opinions. Im almost 19, i live in Ontario Canada and insurance down here is a real bitch especially for some kid my age. I am with TD insurance i called yesterday for a quote on an 05 GT, i got quoted 5600$ a year for full coverage which i think is absolute bullshit considering i have a clean record. My family has three licenses which forces me to become a primary driver on one of our vehicles. My family has a 2007 nissan murano, and a 1997 cadillac sts. Im running out of ideas of how i can get through this stupid insurance deal, i need opinions on what i can do. Im going to start car hunting in April, so I need to try and have this figured out by then. Should i look at changing companies? Is there anyway my dad could put the 8 as his primary driver also? Also i was thinking of putting the 8 under my grandfathers insurance, is that possible? because someone on this forum who's father is a primary driver under his 8 as well, that's why i'm confused as to why I can't do the same.

Thanks guys!

 

not sure on the grandfather thing.

yes, shop around. companies vary widely on rates, especially on a car that can be categorized as a sports car or a family sedan!!

and, umm, you're a young male. i know it's not fair, i went through it, but it is what it is...so get a civic or something for now until you're over 25.

oh, and yes, i think you can do the 'dad as principle driver' thing, but he'd have to be WILLING to do that. and technically that may be ins fraud, i don't know. do you at least live under his roof? if the car loan is in YOUR name, then i do NOT think you can do that...so he'd have to buy the car too and just have you pay him the note...not sure it's worth all that.

so shop around, there are plenty of young guys here that have 8's, so i'm not sure if it's your company or canadian insurance, but something's gotta give!

 

Change companies

 

and is that canadian dollars??? good god that's a lot of money!

 

^^ yeah well im not getting no civic im pretty set on the 8 lol
im going to be paying for the car not getting a loan so thats not going to be a problem
i gotta get my dad to call the insurance company and sort something out cuz 5600$ yearly is ridiculous id be able to pay 300 ish a month but thats pushing it

also i asked her why its so high on an rx8 as its listed as a 4 door she said because there have been so many claims and at fault accidents on the car
i got so pissed i hung up lol

 

loan, title, whatever. whether you pay cash or finance it, if it's in YOUR name, you'll have a tough time telling the insurance company that your DAD is the PRIMARY driver. that was my point.

just ditch the company, you don't have to be on your family's plan. although keep in mind they probably have a multi-car discount and possibly their HO with this company...benefits you won't get on your own.

but yes, switch companies, that rate sounds terrible. i'm over 25, but that's more (way more) than i pay for TWO cars...the 8 and a bmw.

 

yeah we have home insurance with TD too.
im gunna try and talk my dad into switching it all if we cant work it out because im getting an 8 regardless haha

 

Wow, and I thought paying $2,160 a year was bad. I'm paying about 180 a month.

 

bump

come on guys i need some ideas

 

You said you are buying the car out right with cash. Why dont' you give the money to your dad so your dad titles the car as if he purchased it. That way he becomes primary and you can explain to insurance company your dad bought it as a second toy.

 

It can work like that?
If it does ill definetly do so

 

Yes that should work, but it will still list you as a driver which will make the price go up. Anyone living in the same house is supposed to be listed on all cars, because they *could* drive them if they wanted.

The rates depend on many things though, what kind of coverage are you trying to get? I know you said full coverage, but how many $$$ is this covering? You can get like 100k an accident/ 50k per person, or go higher than that. It also really depends on your deductible. If you plan on fixing any small repairs yourself without bringing insurance in then plan your deductible around that. If you know you could afford to fix a $500 repair then set your deductible to $500 or so, and only call insurance if something horrible happens.

Personally I have my deductible set at $1000 because I don't plan on calling my insurance for anything unless the car is in pieces. I just did the 1k to make it cheap, but I would be more comfortable around 500 or less.

 

Wow. I'm pissed about having to pay $1,500 a year for insurance (full coverage, $300 deductable).

Just how bad are drivers in Ontario that your rates are that high? It seems impossible there are even worse drivers than those here in BC.

 

I really don't know why the rates are so horrific, yeah men can be reckless drivers but most are still responsible you get the odd idiot driver. I'm going to call back when the time comes get my dad to talk to them

Another question... I totally forgot to ask the girl on the phone about colours.. I've heard rumors red costs more? VR is my colour that I want, I hope its not going to cost me more.. I've heard that its just a rumor though and she didn't ask me the colour on the phone so I'm assuming its not? I really hope I can sort this insurance stuff out because I'm going to die if I don't get an 8 within the next 3 months..

 

They don't need to ask you the color, you give them the vin# and they should know everything about the car already. Not sure if colors cost more.

Matz you should be happy with your insurance price, thats pretty damn good. I am 25 and pay about $140 a month for full coverage with a 1k deductible. Never had an accident, only ever had 1 ticket in my life. I think mine should be cheaper lol.

 

color thing is a myth, altho companies can charge whatever they want so...

dude, the best advice is to CALL AROUND. even if you have to go to a company by yourself, w/o your entire family switching. hell, you can do it online. geico, allstate, whatever...you just have to SHOP AROUND.

the only other POSSIBLE solution is xexok said...tweak your coverage, raise the deductible, etc.

that's it.

no other options (besides not getting the car).

there aren't any tricks...you just have to shop around, same as buying a car to begin with...shop around for the best price.

 

Try shopping around.

 

i will closer to april
also my dad said he called and asked if he could put it under his name they said no.
so i think its our best bet to shop around anyways because i think were getting scammed hard on the pricing

 

Have you dad put you as the primary driver on the caddy, and him on your 8.

 

^^^ thats what my plan was!
until i was told it was 5800 for me to be insured on the caddy?
that doesnt seem right to me..

 

Ok but we don't know your insurance history. How many cars have you owned? Have you ever abandoned a vehicle? Do you have a lot of tickets? Is or Has your license ever been suspended? Are you on SR22(High Risk) Insurance? Have you ever had a DUI? Have you totalled any vehicles? Do you have any insurance claims on your record? Is your credit score destroyed? How old are you? Do you live in a bad neighborhood? There are tons of things that can change your rates. But 5600 dollars is a ton of money. There must be something on your record? What kind of coverage are you trying to get?

I pay 1600 a year for full coverage on the 8, my 1958 Porsche, and that includes my property insurance. 100,000 Property-100,000/150,000Bodily Injury(Includes Uninsured/Underinsured at the same protection). 50,000 Uninsured/Underinsured. Free Road Side Assitance. We get free Accident Forgiveness. 5,000 Personal Injury Protection. 250 Dollar Deductable. 0 Deductable on Comprehensive Claims.

You will need to look at what your legally required to have in these areas and choose for yourself, but I would have at least 100,000 coverage against anyone else that you hit.

 

Would it be right to assist someone with buying an RX8 who has no idea what they're getting into? Would I recommend buying one to someone with no understanding of the difference between myth and fact, right and wrong, and lacks the ability to make rational financial decisions? Would I suggest it to someone who is impulsive and selfish... who doesn't know the dollar sign goes on the left side of the number and not the right?

No.

On the other hand, bad decisions make great stories. Knock yourself out, kid... in for the lulz.

 

Listen up moron
I have every idea what I'm getting myself into, I know so much about this car. I probably even know more than you. Second of all, if the car was taken care of and I do all the proper maitenance I won't have problems, I'm prepared for the gas and oil, and I'm so impulsive and selfish right? Because I haven't been working my *** off to get this car? U have no idea about me and my life, so if u don't have anything good to say, shut your mouth
LULZ

 

And to the questions above, my record is absolutly clean, no accidents, tickets, dui. My family has never been in any accidents recgarding insutance and I live in a suburban area.

 

This is the best Idea. When you can get a normal rate, change titles, costs 20bucks for transfer between family members. I paid 6grand a year to drive my rx7 when I was 20, so I know your situation. I would have done this if I had family where I live. And with the money you save, keep it and try to pay for a year all at once, you save a good amount of cash doing this.