I recently went from 688 to 760 a month because my insurance renewal. I have 5 cars in my policy which includes my and my dads. I have a 2015 Infiniti and a 2008 mustang gt500 , 2006 c300 and then my dad’s two cars. I went to talk to them because I was confused why it went up and they said it’s bc I drove my Infiniti more than 8 k miles last year so I was at 260 now I’m at 300 something. I’m 20 , and have a good record. I never had a ticket. I pay 130 for my mustang and it’s a coupe I’m so surprised it was cheaper than my sedan 😐. Btw I have triple a
How to drop my auto insurance !!!!!
byu/IncidentWest6640 inInsurance
Posted by IncidentWest6640
10 Comments
There’s no secret or loophole for cheaper coverage. Do you and your dad really need five cars? Maybe get rid of one. You can always raise your deductibles but I don’t recommend that unless you can afford to pay it at any time without a problem.
**Car insurance is mandatory in almost every state**. You may not be able to drop it but you can shop around. Maybe consider downsizing the vehicles on your policy and/or call an agent and get a breakdown of the costs of certain coverages. Maybe triple A has an app you can use that will track your driving for a discount? You may have an inexperienced operator surcharge depending on how long you’ve had your license.
TLDR: Call an agent.
Shop around. Once you’ve bought new insurance, tell AAA you want to cancel effective the date your new policy takes effect. Then follow their instructions for canceling.
If you injure or kill others with your car, your BI limit is all that your insurance is contractually obligated to pay on your behalf. Quote: 250/500 or better 500 CSL plus an 1 or 2M Umbrella if you have kids or risks.
As it is now, you practically have no coverage and are exposed personally to excess expenses.
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Quote: 250/500 or 500 CSL with an optional 1 or 2M Umbrella with UMBI if you have assets or risks.
100/300 minimum.
Increase PIP (if applicable) to 250K. 250 deduct. (Protects YOU)
You don’t want bare minimums.
“Quotes are free. Regret after is not”.- Me
I’m not sure what you’re expecting having 5 cars when insurance has skyrocketed. I hope your brother and the rest of the family is listed on your policy because frankly, you mentioned 3 people that should potentially be covered maybe more. 3 people/5 cars at $700 is not a lot especially since your brother is under 18, (providing he has a license)
You are 20, have 5 cars on insurance and ones a gt500. What do you expect insurance wise? Want to lower your insurance, cut the number of cars. Many of us love our “weekend cars” but its better to be financially responsible especially at your age.
If you have those 5 cars and everyone listed on the policy including your younger brother…. then you actually may have a decent deal actually.
Also welcome to being an adult. We have bills.
You can increase tour deductible to lower the rate but often it’s not super meaningful. You definitely should be keeping comp amd collision.
You can see if they have tow and rental car reimbursement but again that won’t lower it super meaningful amount.
In the US, unmarried males are hella expensive to insure. And the type of cars you are insuring makes a big difference.
Which state are you in?
It’s not just your credit, claims, and driving record that factor into what you’re paying. It’s also things such as the collision value of the vehicle, the mileage, vehicle use (low annual mileage = “pleasure” rating; higher annual mileage = more premium), even certain territories/zip codes are rated higher.
You are also rated on continuous insurance and will be rated for any lapse in coverage. Start shopping!
Keep the insurance or sell some cars. Not having insurance will cost lots more than the little bit of premium. Be glad you’re not getting paid by insurance from a bunch of wrecks.
Keep the cars if they’re paid for. Consider the premiums like paying for an extra tank of gas. No big deal.
Drive like you have some sense and not a punk kid and enjoy. Now that you have some toys start saving and investing.