Is car insurance really suppose to be this high priced?

October 25, 2016 · Posted in FAQ 
car insurance
RnBlover asked:

I am 16 years old and my parents want too buy me a Nissan 350z but the only problem is the insurance is $3,200 every 6 months. I know im yound and its a sports car but is it really suppose to be that high priced? We have checked in many big car insurance companies but they all seem too be around at the same price for full comverage. Is there any company anyone knows of that isnt at such an outrageous price? & is this normal that its so high?

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Comments

7 Responses to “Is car insurance really suppose to be this high priced?”

  1. bandfreak006 on May 20th, 2010 2:59 pm

    Yes , that’s normal. Being a sports car does not help at all, it only makes the price go even higher up. The year of the car,Brand and even color come into consideration. I suggest staying with well known companies because I’ve known many people having issues with the smaller cheaper ones. They tend to be a pain in the butt for claims.

  2. Cala B on May 22nd, 2010 6:51 am

    The only way to keep car insurance costs down are to buy a smaller, less high powered car for the first few years and build up your ncb. You are very high risk as a new, young driver and the cost of premiums will reflect that risk.

  3. Ginger on May 23rd, 2010 2:08 pm

    Insurance premiums are based on risk. The highest driving risk out there is a male, under the age of 18. Insurance statistics state there is a 100% chance this driver will have an accident in the first two years he is insured.

    The second highest ranking risk is the type of vehicle that is insured. Couple a Nissan 350z with a male driver under the age of 18 and BAM!
    Every insurance company knows what’s going to happen when an inexperienced driver gets behind the wheel of a powerful engine.

    Now, here are a few things that lower those statistics, therefore, lowering the risk and the rate. First: What is your grade point average? If it is a B avg or above, most companies grant a good student discount. Second: Have you taken drivers education training? If so, most companies will give you another significant discount for proof of this. Third: What is your current driving record? Tickets/Accidents? If none, somewhat helpful. If any, well, you can imagine how much the risk and the rate rises.

    Rest assured, as you age and gain driving experience, your rates will be reduced, that is IF you keep your foot off the pedal and avoid any accidents.

    My advice, look for an older, mid-sized vehicle (no small Civic or Chevy S10 pick up), put just liability on it, take driver’s ed, keep your grades up and earn driving experience and the right to lower rates. You’ll be safer and your piggy bank will be fatter.

  4. mbrcatz on May 24th, 2010 3:59 pm

    It’s not that high, if you carry liability ONLY. But that means, you need to pay cash for the car.

    Yes, if a 16 year old needs full coverage on a car that’s worth more than $5,000, it’s not unreasonable to expect to pay $6,000 a year for it.

    If you look at the premium breakdown, the COLLISION coverage, only the collision, is more than HALF of that. Drop the collision, cut the cost in half. Or more.

  5. lucy on May 25th, 2010 4:46 am

    Ginger is right on the money.

    I am surprised that your parents want to buy some a sporty car for such a young person of your age. My husband had a 1990 350Z and we kept for over 10 years. Loved the car, and hated to sell it. We had more people ask to buy it due to the look of it.

    If they buy this car, expect to get numerous tickets for speeding, since it is hard not to drive and realize you are going 60 and feel like you are going 30. Another problem with this car is that it is rear end drive and if you live in a cold state with a lot of ice, watch out, since we had to park it a lot if possible due sliding and handling. (if this is a newer version they brought out, maybe better).

    For every ticket you get, you will see your premiums rise a lot more.

    My suggestion is to call an agent and ask them if you were to get a Honda Civic as an example, what would the cost of the insurance be? My guess would be one half of the cost for this Nissan 350Z.

    But at age 16, you will be most likely in 1 accident w/in a year and possibly 2 to 3 in the next 5 years, since most kids don’t pay attention while driving (texting, talking on a cell phone or have friends in the car to distract), take too many chances, like turning before making sure the area is clear etc. That is the reason insurance is so costly as a teen, since very few become exempt from being in an accident.

    good luck

  6. Insurancetips on May 26th, 2010 3:58 am

    Yes, unfortunately teen auto insurance rates are higher since the statistical data shows that teenagers are more prone to accidents than other age groups. Secondly, a sports car would mean that the car would have a greater capacity for speed driving and hence this is considered more riskier. For all your questions on why the teen car insurance rates are high and what discounts you can obtain, you can visit blog for information.
    To get a better quote and find out cheaper quotes you can compare car insurance quotes online, verify all information before you decide.

  7. Clay on May 28th, 2010 5:05 pm

    autoinsurance.noneto.com – check this one. As I remember they have lowest car insurance rates for teens and young drivers.

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