High insurance premiums

[Palmiros]

I'm 18, recently graduated and am now working full time. At the moment I drive quite an old car and recently decided to upgrade. I was thinking something along the lines of a 2008 Mitsubishi Lancer GTS or Mazda 3. (within my budget)
Right now my insurance runs at about $1500/year (this being one way insurance, due to the nature of the vehicle)
Before I get to the questions/issues I'd like to mention i've been driving since I was 14, and have not had any tickets, or anything of the sort. (clean record) I've also taken the AMA safety course. Today I called my insurance company, and asked for a quote on the above vehicles. The response I got was quite shocking.. (at least for me it was)
For the 2008 Mazda 3 (4 door sedan) I got quoted $4300/year full coverage.
For the 2008 Mistubishi Lancer GTS (4 door sedan) ......... $5300/year full coverage. This may not seem like a big deal for the people with professional jobs on here, but for a starting stage it's ridiculous. I mean, OK I may be young, BUT unless I run over a bus load of pre-schoolers, I don't think my insurance rates should be that high. I'm not here to bitch, i'm just seeking some advice; so please when responding don't tell me to suck it up, I'm sure you've all gone through something similar at some point. Is it normal for it to be that high? Does it even matter what vehicle i decide to go with, or is it going to be this high for everything newer?
I recall there being a grid implemented on October 1st 2004 that somehow regulated the rates at which insurance companies charge you. Is that still in effect?
So to make this short and sweet, I'm pretty much wondering if there is any way, shape or form by which I can decrease the cost of the insurance premium? (without having to put my life on hold 'till im 25)
Thanks in advance for any possible responses. :dunno:

[The Cosworth]

It is a new car, it is going to be a lot. I am 21 and a 2008 Lancer runs me 3400 in Ab.

PM Masked Bandit, if anything can be done he can help you

[Destinova403]

i go through RBC and i pay around 3000 with my 2001 Honda prelude. i went through drivers education which saved me a good amount plus im a student which apparently also helped.
i have one ticket in the whole time iv been driving (since i was 15) and i get total coverage on my car.
best advice would be just to keep looking around at different places. and if you havent taken drivers ed. take it ASAP... its expensive but you get a certificate at the end that will lower your insurance by a lot.

[dr_jared88]

I love my Saskatchewan insurance! $800 for the year, full coverage, no fault insurance! Life's going to suck when i'm no longer a student lol

[2EFNFAST]

Wow, that is quite a bit. I can't speak for others, but right now I'm paying about (it's been a while since I looked at the exact figures)

1300 Viper*
700 Z06*
800 350z (this is my current work car)

*less than 6,000kms/yr usage

25/m/0 accidents or tickets. $1500 deductible, $2M liability. I'm insured through Aviva. I used to be insured with TD (meloche monex), but they wanted for my viper alone what I'm paying for all 3 now.

[RX_EVOLV]

i suggest you find an insurance broker, they might help you save abit of money. I asked TD (UofA alumi rate apparently), state farm, AMA. etc myself and got an avg quote of $2800-$3100 /year for my RX8 last year. I then went to my insurance and they were somehow able to get me a quote of $2180/year..

The insurance broker company I used is call "Diamond Insurance", you can look it up on google.

[funkedelic]

i pay 4300 for my m3 a year and i took drivers ed but had an accident in 04

[rc2002]

If you get on your parents policy and aren't the primary driver, you could probably get that amount reduced quite significantly.

[SilverRex]

haha i kan remember when I got my first car it was a 2000 celica GT and I just got a full time job for 6 months I was like hmm 21 I think, and statefarm quoted me like 5300/year.

after checking around I Think i was paying around 2500-2700

and now im 28/married with one accident in the last 7 years and paying about 1200/year

[old&slow]

My advice is not too purchase a new car...sucks I guess to want that...but your very young and you have time.
Unless you have money to burn I really think it's a good idea to purchase a decent used vehicle that's easy on gas and of course a tad bit sporty...then go with the PLPD.

That kinda money for insurance is such a waste!
For the monthly cost of the insurance alone you could lease a nice sporty little car! Of course you'd have to insure it but that's the issue isn't it!

Other than that I suggest you shop around a lot!

good luck!

[Masked Bandit]

Trying to compare insurance premiums on the internet is about as accurate as a dick measuring contest.

There are so many variables that come into play there is no way you can look at someone else's premium and try to get a rough idea where you are going to be.

FWIW, I've checked some of our companies (I'm a broker) and I've got your listed prices beat by $500 & $1000 depending on a few other things.

I'm not here trolling for business but I like to educate when I have the chance. PM me for a phone number if you want and we can chat.

[4doorj]

3 years ago when i had my rsx that was my cost for insurance as well...
basically thats what it will be until your married or turn 25... it sucks!!!!
i finally turn 25 next month!
finally cheap insurance :thumbsup:

[Supa Dexta]

Originally posted by Masked Bandit
Trying to compare insurance premiums on the internet is about as accurate as a dick measuring contest.

I hope you mean an internet dick measuring contest, cause that one at the fair... well.... :nut:

[Masked Bandit]

Originally posted by Supa Dexta


I hope you mean an internet dick measuring contest, cause that one at the fair... well.... :nut:


Smart ass!

Yes, INTERNET DICK MEASURING CONTEST is what I meant.

[reiRei]

I'm a 21 year old girl, 1 colission, 1 ticket.. I pay 4000+ a year on my 06 Lancer Ralliart... and they even told me that my driver's ed didn't play a factor in it...

[97'Scort]

It's the same for everybody at your age. You can have the most squeaky clean record ever and you'll still get hosed. You're young, inexperienced in the eyes of both the law and the insurance companies, and you're a high school graduate under 21.

There are two gauranteed points where you will reduce your payments, assuming you have not racked up any demerits or accidents: when you turn 21 and when you turn 25. You will see major decreases at these points.

For myself, I am a college graduate (which will also decrease your premiums) plus I have access to TD Meloche Monnex insurance at a special rate through my professional organization, ASET. I pay $1600 per year (I'm 22) and that includes full replacement insurance on my sound system.

[Destinova403]

Originally posted by reiRei
I'm a 21 year old girl, 1 colission, 1 ticket.. I pay 4000+ a year on my 06 Lancer Ralliart... and they even told me that my driver's ed didn't play a factor in it...

what company are you going through? that sounds really shitty.

[4doorj]

i know that i will be turning 25 so cheap insurance but i feel bad for everyone else....
i personally think that alberta insurance is very discriminative
, super sexist.... i personally beleive it shouldnt matter if your a male or a female rates should be the same
everyone should start low, the more tickets they have then they should be raped with high insurance rates

insurance is one of the only things that gets away with being discriminative... its like the stupid bars in calgary being discriminative too

its like going into a car registry and saying u want to get registration but you have to pay more because your male... to me that sounds stupid, just like insurance

[Masked Bandit]

Originally posted by reiRei
I'm a 21 year old girl, 1 colission, 1 ticket.. I pay 4000+ a year on my 06 Lancer Ralliart... and they even told me that my driver's ed didn't play a factor in it...

Your accident wipes out the credit the driver training was giving you.

[reiRei]

I'm with ING insurance... Looking for a better company right now though

[SunniSunShine]

Originally posted by reiRei
I'm a 21 year old girl, 1 colission, 1 ticket.. I pay 4000+ a year on my 06 Lancer Ralliart... and they even told me that my driver's ed didn't play a factor in it...

lol... your drivers ed didnt play a factor?

maybe dont go to one in china town that isn't licensed and "teaches you on a beat up tercel"

On another note, when i bought my first car (18) 02 civic sir, it cost me $4600/year full coverage $1000 deductible :eek: now im 20 and its down to about $3500.. im turning 21 just before i need to renew so we'll see how much it goes down by.

Theres nothing really you can do, unless you get an unrestricted line of credit - then you can buy a vehicle and get PLPD but dont fuck yourself with NOT getting collision

[danno]

i can't believe people under 21 would even try and buy a new car. odds are high you will crash, then your insurance will be threw the roof. till i turned 23 my newest car was a 1990 honda. haha

now 24i have a 07 gti which is 1500/year still to much but i make enough to pay for it.

[2EFNFAST]

Originally posted by danno
i can't believe people under 21 would even try and buy a new car. odds are high you will crash,.

LOL.

If that's true then you suck as a driver.

[97'Scort]

^ It's true though. Younger drivers are more likely to be involved in low speed collisions than any other age group. Statistics also show that most of the time it's due to a distracted driver.

[misterrick]

i pay over $3000 a year for plpd :thumbsdow

damn manitoban racing tickets.....

[EG_Civic]

2006 Acura RSX Type-S $2200 from td

[danno]

i had a minor fender bender when i was 16, like almost everyone else i know. not a big deal for me cause it wasn't a very good car. if it was brand new car i'd be pissed.

imo at 18 you have much better things to put money into rather than high insurance and car payments. but to each there own, learn from mistakes.

[4doorj]

Originally posted by danno
i can't believe people under 21 would even try and buy a new car. odds are high you will crash, then your insurance will be threw the roof. till i turned 23 my newest car was a 1990 honda. haha

now 24i have a 07 gti which is 1500/year still to much but i make enough to pay for it.
i bought a brand new rsx type s when i was 21
i didnt crash

[Aznstealth]

thats the going rate now though for most insurance companies...
for my 1990 Z32 it started out at $3000/yr then jumped up to about $4800/yr from an accident from last year:banghead: