Am I being charged too much for insurance?

Question

For my car insurance I am being charged about $260 a month. I have full coverage with a $500 deductible on an 06 Honda S2000, I have no tickets or accidents on my records, and I am a 20 year old male. Also, I live in texas if that makes a difference. It just seems kind of high for insurance coverage. And my company is state farm.

Answer 1

$260 is a lot of money to pay for insurance, but you're a young male with a sports car. you're considered high risk. it wouldn't hurt to shop around, but your insurance is going to be expensive with your age and type of vehicle.

Answer 2

20 year old + sports car = high premiums.

Answer 3

Go to some car insurance companies online and get a quote.  You don't have to talk to anyone and it doesn't take that much time to see.  Or call them if you don't want to go online.  It's worth the shot.

Answer 4

Your rate is a little high, especially if you live in a rural area.  If you live in the Houston, Dallas, San Antonio or Austin area, it isn't too far out of line.  If you have had continuous insurance for at least one year, there is probably a better rate for you.  Email me if you would like for me to have someone check it out for you.

Answer 5

State Farm has recently had some rate increases in Texas, so, what MIGHT have started OFF as the best price, might NOT be the best price now.

Typically, insurance rates will vary from State to State and can even vary by ZIPCODE! It also will depend on the type of car/truck, coverages, limits of liability, and driving record. Some companies run credit scores and MOST run a motor vehicle report and CLUE (Comprehensive Loss Underwriting Exchange) report to see about undisclosed accident involvement.

The best thing to do is call a LOCAL independent agent. Don't go across town, or to some other city - look for someone CLOSE. Just look in the phone book for the PIA or Big I (Trusted Choice) logos and you will find a professional licensed agent that will be able to help you solve your insurance problems, and give you rate comparisons of several different companies.

An independent insurance agent will normally have a dozen different companies and if he cannot help you, he should be networked with other local agents that can.

In my agency, we have companies that do NOT run a credit score and welcome drivers with "less than perfect" driving records and specialize in youthful operators!

When do you turn 21?  That will make a BIT of a difference in your rates. Married makes them drop a bit more, then the BIGGIE is when you turn 25!

Most of the replies on this site say "go to this on-line carrier or that on-line carrier or that 1-800 number" but I'm sure that when you do, you will find some impersonal computer user with a script to work from and you won't be able to talk with the same person every time you have a problem!

Feel free to email me direct if you want me to run some comparisons for you.

Good luck, drive RESPONSIBLY and I hope this helps!

Answer 6

I would try to find a difforent insurance company but it does have to do with were u live as well,  Do you have AIG  around there or progressive get a free quote on the net

Answer 7

You're under 25, you have a two seat sports car, yeah you should expect to pay quite a bit for insurance. I'm over 25, have a 4 seat sports car (a Porsche 911 Carerra S) and pay a little over $300 every 6 months. And I live in Chicago. You need to get older and and get 4 seat cars.

Answer 8

yea

Answer 9

Yes, that's expensive, especially since you have no accidents and no tickets. I also thought my insurace was too high. I went through my local phone book and called popular insurance companies for estimates. Some of the estimates were the same as what I was currently paying. But, others were $100 less a month! I switched insurance companies and am now paying $100 less a month for the exact same coverage. It was worth taking time out of my busy day to make those phone calls for estimates. You should try doing it too, just to see what other companies say. Just make sure you're asking for the exact same coverage with each company so you're comparing apples to apples.