I'm with progressive, 385/mo for a 2006 ford sedan. I'm 20, no previous driving record, and my snapshot says 5 stars. Liability only.
I called around and they're 60 bucks cheaper than everyone else. I'm hardly able to afford food right now, gas to get to my work, I'm not doing well and I don't know what to do. I have no family who's insurance I can live off of either.
Please please advise.
Insurance is about to put me on the street.
byu/Blackberry-8946 inInsurance
Posted by Blackberry-8946
19 Comments
There is no answer from the insurance side.
Not trying to sounds like an ass but some options:
Public transportation
Better job/second job
Join the military
Move to a city (no car needed)
The first year is the hardest (most expensive) if you are a new driver.
Call a local independent agent and see if they have a better option. It might just be too expensive for you to own a car right now
[removed]
Call an independent agent. They have companies you don’t have access to
Have you tried GEICO? Depending on where you are the car might qualify for historic tags come January first
Get rid of snapshot. It only exist to charge you more than they could without it.
Take a defensive driving course. It will help take something off of the top.
Another job or side hustle might be in order. Also look into food banks and other ways to cut costs. Scroll through r/povertyfinance and see if there’s anything there that can be of use to you.
Welcome to adulthood in capitalism. It sucks here.
How much liability are you carrying? You should be carrying the bare minimum for someone your age, say 25/50. Don’t go for extras, you don’t need windshield replacement and all these other things agents will throw on the policy. And by all means, search out an independent agent. That does sound crazy high, even for someone your age.
Also, leave no stone unturned! Many policies will offer a good student discount (even if you are no longer a student, but graduated with honors). My credit union offers a policy to members only. See if any local groups in your area are part of group policy discounts. If your car has any automatic safety features (automatic seat belts, air bags, etc) make sure you point that out to an agent. What state in you in that rates are that crazy?
My advice is get another job that you can walk to, and start buying bitcoin instead of car/gas/insurance/oil and repairs. You’re a slave to Ford motor company. This was not gods plan for you…
Do you live with family that almost has insurance? If so, you may be able to qualify for a multi car discount if with the same carrier. Have you asked about other discounts you may qualify for (e.g. driver safety training, multi-product)? Do your annual miles impact your premium — if so, is it accurate?
What state are you in? Our 16 year old isn’t costing anywhere near that with Progressive.
Let me rant. The reason insurance is so high is that a tail light bulb that use to cost a dollar to replace now requires a whole new light system, a new computer and a programmer to program it, costing over $3000.
Cars got too expensive with all these gadgets that cost a stupid amount a money. We had an issue like this in the 1970s and Japan brought prices down and quality up on their cars.
I hear that China is kicking butt in Mexico with cheap cars that use a fifty cent lightbulb.
You’re 20 and a new driver it sounds like. You won’t mention your location but I suspect that’s also a an issue.
The only thing you can do is continue to shop. Call an independent broker for quotes from companies you’ve probably never heard of and can’t get direct access to on your own like Progressive. Hopefully you can find something cheaper.
Depending on the auto insurer, I would recommend mentioning that you’re currently having a major financial crisis and request the option to have life circumstances to make your insurance score neutral. I know that a few companies offer this and for the most part, you might be able to keep it on for life.
Everyone starts out paying high rates. Whether you’re 16 or 20. The first 6 months to 2 years will be sky high. If you keep insurance, with no lapse, no crazy point violations. It will go down a little at a time.
I remember my first instance was with AAA. I think I paid $40 -$60 a month.
Depending on what state you live in, you might qualify for a low cost auto program. Essentially very bare bones coverage, but you have to make a certain amount to qualify, etc.