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Thread: Car insurance for under 25 driver over $2000 a year?

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    Default Car insurance for under 25 driver over $2000 a year?

    So we are in the process of attempting to sell my MIL 2017 Corolla to her nephew who is 18 / Male / Chinese (unsure that matters) and hes got a quote from meloche for 5k per year and the lowest quote he could find was 3500 per year from some other (didnt say) provider. Ive never had to get car insurance until I was 30 here so is it really common to be faced with that sort of high insurance rates for a first time car owner. I should clarify he owns a shitty 1k car with liability only with Meloche at the moment and I think he pays less than 1K

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    I suppose it is possible. Depends on the car, past record, age etc. Even though $5K sounds astonishingly high. When I was around 22-23, I had my 350Z insured by TD MM and I believe it was around the $2200-$2400 per year mark. I remember it dropped dramatically the day after I turned 25. Like at least a several hundred amount.

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    My first car cost me $3500 and $3500/yr for liability only insurance.
    Insuring 18 and 19 year-old males is expensive if he can't piggyback as an occasional driver on a family member's policy.
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    Yea, that's kind of crazy man...

    When I was 21, I bought a new car around 99k. Fully insured with 2 mil coverage, and I think I was getting auto insurance for around $2,400 a year... When I added renters/tenant insurance when I was 23, my yearly fee actually dropped down to $2,150/year (which covered both auto/tenant). Keep in mind I had no formal drivers training, and had my learners at 14, and full class 5 the day I turned 16.

    Did you contact an insurance company directly, or did you reach out to a broker? Always, always call a broker.

    The only thing that should make insurance cost more is tickets and/or convictions, as well as lapses in time frames of driving.
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    Actually our cousin is sorting this all out on their own they just asked us if the car was a turbo or something because the car insurance is so much higher for a newer car than the shitter he currently drives. Its a 2017 Corolla S nothing turbo or fast about it. Im sure its just because he is considered high risk and when the car is worth a whole lot more then theres a higher chance of payout. His parents own 3 cars, 2 of which just on the driveway as additional storage closets (hoarders) and their family income is under 35K per year so I dont think they want to insure another car themselves.

    Its been a major hassle to sell this car, first I wrote out the vin number and description and mileage. And then apparently that wasnt good enough so I had to take photos of the vin number and mileage, and now they are asking me all these questions about the car that could be found by looking up the info from the VIN. I sometimes wonder if people selling on kijiji have the same problems with kijiji buyers.

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    I used to pay 5k/yr for basic PLPD when I was 18, had 5 speeding tickets on my record. Really it just depends on driving record. Tell him to talk to an insurance broker though, let them shop the best deals for you.

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    Doesn't sound far off. I got a quote for my 20 year old son for a early 2000's 4 door Civic (doesn't own the car, it was just for the quote) and they came back at $2400/year for basic liability. He had his driving course certificate and everything. This was hi sown insurance, not on my plan or his mothers. Needless to say, he's borrowing his mom's car a lot these days!

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    I'm guessing he's looking at full coverage on the new car versus PLPD on the old one?
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    When I was 18 I wanted to get a new Celica GTS and insurance was quoted $5k/year. Ended up getting a new RX8 at 21 and it was $2.8k/yr

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    Sounds about right, I guess that is not full coverage, right? I paid over $3k for basic third party insurance when I was young, 6k plus for full coverage...so I never bought full coverage till 27 or 28 yr old.....
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    Sounds about right. I just remember once I hit 25, my insurance got hella cheap.
    Originally posted by GTS Jeff
    You know those bored stay at home moms who's entire lives revolve around driving their kids to soccer, various cleaning accessories, and worrying about neighbourhood rapists? The kind of people that watch the View and go "uh huh..." Those unfulfilled people who try to fill the void in their empty lives by writing whiny letters to the editor complaining about shit that no one really cares about?

    Well imagine if instead of writing that letter to the editor, she just posts on a car forum for car enthusiasts. That's Kritafo.

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    ...
    Last edited by Sugarphreak; 08-18-2019 at 03:58 PM.

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    Yes full insurance but I mean its not a sports car. Pretty brutal. I guess I was lucky in New Zealand when I was looking at full insurance for my brand new car at 20 and I thought $750 a year was expensive because I had put aftermarket wheels on my car.

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    When I was 18, my insurance was quoted at 4500 for a mazda 3 for full coverage. No accidents or tickets. So I could see it being that high for a corolla.

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    Quote Originally Posted by nzwasp View Post
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    Yes full insurance but I mean its not a sports car. Pretty brutal. I guess I was lucky in New Zealand when I was looking at full insurance for my brand new car at 20 and I thought $750 a year was expensive because I had put aftermarket wheels on my car.
    I dont think it has to do with the car you insure mainly as when I started driving I was insuring a POS 1988 Nissan Multi and my insurance was more than the car was worth. Its cause hes 18, no driving/insurance history. High risk category. I'm sure an Insurance Guru named Bill will chime in
    Originally posted by GTS Jeff
    You know those bored stay at home moms who's entire lives revolve around driving their kids to soccer, various cleaning accessories, and worrying about neighbourhood rapists? The kind of people that watch the View and go "uh huh..." Those unfulfilled people who try to fill the void in their empty lives by writing whiny letters to the editor complaining about shit that no one really cares about?

    Well imagine if instead of writing that letter to the editor, she just posts on a car forum for car enthusiasts. That's Kritafo.

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    Quote Originally Posted by nzwasp View Post
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    I guess I was lucky in New Zealand when I was looking at full insurance for my brand new car at 20 and I thought $750 a year was expensive because I had put aftermarket wheels on my car.
    When I was in NZ for four months, the people there thought I was insane for having insurance on the car I bought. I can't recall what it cost, but it was cheap as hell. Man I miss NZ.
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    Does having Driver's Ed training still provide an insurance discount?
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    Full coverage on a new-ish car to a kid that's been driving two years max, $3500+ is the right ballpark.
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    Age 24: I was paying $3,576 - 2016 Subaru WRX (4th vehicle). Had an at-fault accident 3 years ago still on record.

    Age 25: I bought a townhouse, now I pay $2,688 total for house + car. (Age 25).

    Full coverage w/ replacement insurance.

    TD Insurance. I called around everywhere and TD was the cheapest with Engineering firm discount.

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    Quote Originally Posted by Masked Bandit View Post
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    Full coverage on a new-ish car to a kid that's been driving two years max, $3500+ is the right ballpark.
    So it would make sense to buy a 1-2000$, 4 door vehicle and just go with PLPD?

    What could the rates be like then?

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