I am 19, female, and have gotten into 1 small accident (less than $1000 payout) and Geico Auto insurance (and other companies) are charging me OVER $1000 A MONTH to insure with them whereas Progressive is only charging me about $360 a month. I applied the same deductibles and everything but why is the insurance so high but Progressive is normal?!
My question here is just "why?" And is there anything I can do to lower that insurance?
Posted by Handroid_
2 Comments
lol ok
The $1,000/month companies are anticipating how much money you’re going to force them to pay out to other people’s injury and vehicle damage- you’re 19 and already have an accident in your history. The $356/month company hasn’t accounted for your accident yet- once they run your claims history and account for it their price will likely go to about the same as the others. You should get a car without a loan so you don’t have to carry collision coverage and use that first a few years to get some experience under your belt. You’re a huge risk to their profitability since you have limited experience and an accident so soon. You pay the insurance company for coverage, they’re on the hook to pay if you injure someone or damage their property- and average repairs now are much higher than they used to be.