When Does My Insurance Rate Drop?

Question

Back In Oct. 8th, 2007 I had an accident.

I was 16.

I was driving with only a permit and no guardian.

Cops came and I received a citation for- driving without a license, driving without insurance (which I later found out I had), and unsafe turning maneuver.

I went to court, judge released me with a +$150 fine and traffic school.

Took traffic school and got my license back in March of this year.

My parents got a quote from the insurance (Mercury) and its supposedly $4k for 6 months not including the car

So my question is-

Does my insurance rate drop:

1) 1 year after the accident (October)

2) when I'm 18 (April)

3) 1 year after I got my license (March)

Answer 1

I would like to recommend you possess as much information as you can before taking action,here is a good place for that purpose.http://car-insurance.bestips.info/car-in...

Answer 2

Depends on what state you're in.  In NY an at-fault accident where there is over $1000 damage is surchargable for 39 months.  Surcharges are usually 10% to 25% but that can vary now that companies are getting very creative with their rating methods.  Also in NY it used to be that the first year you were licensed you had a 25% surcharge and it dropped to 20% for the next two years.  Again, this is changing due to creative rating.  Usually the rates for 18 year olds are lower than for 17 year olds, but only by about 5%, so the difference will be negligible.  Plus the rate for your new age doesn't take effect until the next renewal.  Once you make it through the 3 years of accident and inexperience surcharges there is no guarantee your insurance will decrease.  By that time the company might have incurred a lot of claims and need to raise everyone's rates just to stay in business, leaving you with insurance just as high as it was before.  Your best bet for low insurance costs is going with an online place like Progressive, Geico or E-surance.

Answer 3

You must recheck their policies. Below are some car insurance policies:

1. The coverage of the returned insurance is only covered if you let it repaired by an accredited repairers for a maximum of certain days. Different companies have their different rules on that.

2. Also, the valuables inside the car when the time it was damaged or had been stolen by anyone is covered also but up to certain amount only. Different companies have their own computations regarding this matter so it is better to look at it by yourself first.

3. Also, the people inside the car is insured but up to certain amount only. Again, it is based on the companies rules so you better check it out for further details.

Different companies have their own rules and policies on their insurance so it will be a great help if you all know all of these before engaging yourself in an insurance contract.

Answer 4

There are tons of sites where you can get an online quote. http://www.easyautoinsuranceguide.com It only takes less than 10 minutes to do.

Answer 5

only I know :P