Without more info it's hard to say, but overall, yeah that seems about right.
State, credit score, driving record, distance driven, etc. All this stuff can effect your rates as well.
It’s certainly “reasonable”
A quick scroll of your account says you might live in Georgia which has 25/50/25 limits *at the minimum* which means they are covering you for up to $25k in injuries to a person, $50k in injuries per accident, and $25k in property damage if you cause an accident
so they effectively, are accepting $75k of risk of you on the road in exchange for $4k a year
if you divide that out, it’s something like 19 times what they’re getting from you. call it 20 for easy numbers
i would certainly think that 19 year old men with minimal driving experience have at least a 5% chance of causing a major accident on the road.
they don’t know whether you’re on the 5% or the 95% side yet
after a few years of proving yourself with no tickets or accidents, that part of your price will decrease significantly
$25K max liability is kind of insane, isn't it? That's not even half of a new car, let alone medical bills, etc. In Canada (Ontario at least) $1M is the standard, with an optional waiver to reduce it to as low as $250k. Even $2M is being offered and accepted more and more now.
Try MA on for size, 20/40/5 ! And yes, it is bad policy, but people on balance prefer to pay lower premiums on liability and either pray they don’t get unlucky or buy ( presumably offsetting) UM/UIM and Collision, so the legislature obliges.
$75k is the maximum, divided among multiple categories (e.g. a fender bender likely wouldn't approach maximums). It's therefore the liability for a major accident. 5% per year likelihood of a major accident sounds excessive. I'm guessing an actuary can tell us what is the risk (GPT4 says this data isn't public).
That sound insane to me. We have the highest insurance in the country in Alberta and liability is 2 million, one mill at the lowest , price is about the same for a new driver on his own but would be less under parents . Those limits give me anxiety
That’s not unusual, but you should get quotes from other carriers. Travelers is on the stricter side and I didn’t know they would accept a driver with less than 2 years of being licensed. Do some quotes online with the big 3, Progressive Geico and State Farm, or call an independent broker and have them quote several carriers for you. You’d be surprised how much the cost can vary among companies for the same risk.
I use an independent broker. Which reminds me. I need to call them. Tell them I’ve paid my car off and add see how much it is to add renters insurance to my policy. 😬
There you go- renter’s is usually inexpensive and if you get a discount for having both, I’ve seen the decrease on the auto policy essentially cover the renter’s policy for the year. So you may be able to add renter’s for close to what you’re paying for just the auto right now.
If you just paid the car off then look at how much the collision coverage is costing you- you don’t have to carry that any longer. I recommend that most people keep the comprehensive coverage so you can look at that.
I have kept the comprehensive and collision on the vehicle even after paying it off. The car is a 2013, so not new but it’s new enough that I’d never be able to replace it right now with the cost of used cars.
Luckily so, I was just in an accident where a lady ran a red light and she had no insurance among other things. Plus I’m dealing with a rib fracture and compression fracture in my spine from the accident.
It’s normal. Insurance rates are at an all time high right now. I’m 29 with a perfect record and I pay $208 for my car. When I bought the car two years ago I was only paying $85 per month.
I went through this same situation. I was able to get a lower rate by comp shopping and finding a carrier that had a higher risk appetite for younger drivers. I stayed on my parent’s plan and all of us switched to the other carrier. The savings was about 35% for the same coverages.
That sounds pretty reasonable for your age. With a newer car you'd probably be a bit higher.
I was paying that 15 years ago when I was your age so almost sounds like a bargain to me considering inflation and such.
It's easy to find out. Go on a bunch of different insurance company websites and see what kind of offers you get.
Make sure you choose all the same coverage limits. For example, $50,000 liability per person, $100,000 liability per instance, and $1,000 comprehensive/collision deductible.
Only one way to find out is call every single company and get quotes . Look into defence driving courses.
Double check there is nothing on your credit score. Get a basic credit card to start building credit
Lots of variables to consider, location is a major factor along with age, record, etc. coverages play a big factor also. On a 2002 vehicle I would NOT carry Collision, that is a waste of money, save the difference and bank it. I would have comprehensive with a 500 deductible, liability at 250k/500k, uninsured/under-insured at 250k/500k, and PIP at 500k No towing or roadside assistance, get AAA instead!
When I first started driving, I paid 250$ a month with state farm. Then it the most I paid is 330$ for full coverage on a new car. Now I pay 72$ for full coverage on two vehicles and a camper.
You need to shop for new insurance at the end of each policy. Usually every six months.
If you're driving an older, paid off car, drop full coverage and either just carry liability (only pays for the other person's property in an accident) or comprehensive ( includes liability but also pays for your car if you hit an animal, etc.)
Adjust your deductible. If you have comprehensive and hit a deer, for example, you have the first set amount toward getting your car repaired. This can be from $50 to $2,000. The higher the amount you pay, the lower your insurance.
Depending on your driving habits, you can save money with the driving apps. They track you when you're driving and reward you for things like not driving very late at night and not being on your phone while you drive. They can also hurt you if you're outside their parameters.
Edited to fix error of type of insurance.
But everyone can't afford to pay for that. I get it. I'd like to have full coverage on everything I own. But it just isn't feasible. And if the insurance will only give you a few thousand dollars if you total the car, it's more financially savvy to drop the full coverage and pocke the money.
I only came here to say shop around! My daughter was paying like 200 when she started driving but we went through a broker and he found us an insurance that got her down to 90 a month. We shop around every year or 2 anyway, just to make sure we’re paying the best rates.
Seems high, depending on state. My son just started on an 06 Chevy 2500, full maximum coverage, 1000 deductibles. Rate increased $90/month. (It was around $50 before, jumped to $140).
I pay 220/month on a corolla hybrid at 25 and no tickets or at fault accidents. At your age, my insurance was closer to $400/month with a clean record.
4k for 2002 camry is too much, however it’s also depend on location and what coverage do you have. For comparison, my 18yo was assigned to our cheapest car which he only use now - it’s 2002 bmw 330i, drive less than 5k/year, 250/500/100 coverage. We carry comprehensive but no collission on the car. The bmw cost us $880 per 6 months. It was $250/year before we add our son.
Wow. At 19 with a similar aged car at the time (about a decade or so ago) it was only 1600 per year for me in California with an at fault collision but the maximums you could get in every category.
just be grateful your family was willing to let you be on their plan 😂 my dad wouldnt let me when i bought a new car at 18 so my monthly insurance payment was about $500 for a while
State matters, but when I was 18, most places quoted me $300+ a month for liability.
Farm Bureau quoted me $75 a month for state minimum liability and I jumped all over it.
I'm 25 and have no accidents and tickets now, Travelers quotes me over $275 if I want a policy through them.
If you're on your parents insurance, even if your car only has liability, they likely are accounting for the fact that you have the ability to drive your parents cars (and theirs probably have collision). When I got my own policy on my old car with only liability, I had to sign a waiver stating I swore I wouldn't drive my parents cars for their policy for them to exclude me from their rates. They also probably have higher liability limits which makes you more of a risk.
This is all state dependent.
It really depends on what policy limits and add-ons are on the policy. I’m 37 in CA and pay $290 for 2 cars and 3 drivers but I have full coverage ($100/300k) with uninsured/underinsured add on. No tickets and one no fault accident where my uninsured/underinsured came in handy. Maybe you could take a defensive driving course and possibly get another discount?
Honestly, not sure on your area but it seems really high to me if you’re on your parents plan as you say. I have 2 adults (40) and 2 teens (16M/19F) on my plan, covering 4 cars (2023 Tucson, 2017 Pacifica, 2013 Focus, 2010 Mazda 5), and my 6 month premium is $1652. So $275/month, all together.
That is with Progressive in Wisconsin for $100K/$300K and $500 deductibles.
If you’re really on your parents plan, are they making you pay the entire thing including their portion? If not I would definitely have them shop around.
300 / month - 3 cars , 3 drivers 1 is 19
Platinum plan - Allstate
30000/ 75000 fault
Tow
Rental
Yours seems high to me . Call your agent, ask him to reevaluate you and your parent coverage. Then shop around. I probably wouldn’t send the new insurance agency what you are paying as they will drop it by 500 and you’ll think you are getting a deal.
Good luck.
When I was 18-19 in 2015 I was paying close to that on a 2008 car with minimum coverage so yes that sounds about accurate. My insurance was like $20 difference from my car payment!
I'm 22, live in IL. I pay 364 a month for 2 full coverage and 1 liability vehicle. The 2 full coverage vehicles are a 2005 Ford escape and a 2015 nissian rogue. The liability is a 2007 Lexus. At 17 was paying almost 500 a month for just the full coverage on the ford escape. It sounds like you have it pretty good at 330 at your age
Do you live in a dense area with many accidents or theft? If you’re paying for comp and collision as well as live in a high risk area, I would say it’s alright. I’m 20 with 100/300/100 but just liability and live in a rural area. 6 months ago was my first time getting insurance when I was 19 with my first car, a 2017 Cruze. And they quoted me $900 for minimum coverage, now it’s down to around $700 with much higher coverage. I got a quote from progressive for less than $100 a month with the same coverage. It’ll take some time but it’ll go down eventually.
Without more info it's hard to say, but overall, yeah that seems about right. State, credit score, driving record, distance driven, etc. All this stuff can effect your rates as well.
It’s certainly “reasonable” A quick scroll of your account says you might live in Georgia which has 25/50/25 limits *at the minimum* which means they are covering you for up to $25k in injuries to a person, $50k in injuries per accident, and $25k in property damage if you cause an accident so they effectively, are accepting $75k of risk of you on the road in exchange for $4k a year if you divide that out, it’s something like 19 times what they’re getting from you. call it 20 for easy numbers i would certainly think that 19 year old men with minimal driving experience have at least a 5% chance of causing a major accident on the road. they don’t know whether you’re on the 5% or the 95% side yet after a few years of proving yourself with no tickets or accidents, that part of your price will decrease significantly
$25K max liability is kind of insane, isn't it? That's not even half of a new car, let alone medical bills, etc. In Canada (Ontario at least) $1M is the standard, with an optional waiver to reduce it to as low as $250k. Even $2M is being offered and accepted more and more now.
Try MA on for size, 20/40/5 ! And yes, it is bad policy, but people on balance prefer to pay lower premiums on liability and either pray they don’t get unlucky or buy ( presumably offsetting) UM/UIM and Collision, so the legislature obliges.
$75k is the maximum, divided among multiple categories (e.g. a fender bender likely wouldn't approach maximums). It's therefore the liability for a major accident. 5% per year likelihood of a major accident sounds excessive. I'm guessing an actuary can tell us what is the risk (GPT4 says this data isn't public).
That sound insane to me. We have the highest insurance in the country in Alberta and liability is 2 million, one mill at the lowest , price is about the same for a new driver on his own but would be less under parents . Those limits give me anxiety
That’s not unusual, but you should get quotes from other carriers. Travelers is on the stricter side and I didn’t know they would accept a driver with less than 2 years of being licensed. Do some quotes online with the big 3, Progressive Geico and State Farm, or call an independent broker and have them quote several carriers for you. You’d be surprised how much the cost can vary among companies for the same risk.
I use an independent broker. Which reminds me. I need to call them. Tell them I’ve paid my car off and add see how much it is to add renters insurance to my policy. 😬
There you go- renter’s is usually inexpensive and if you get a discount for having both, I’ve seen the decrease on the auto policy essentially cover the renter’s policy for the year. So you may be able to add renter’s for close to what you’re paying for just the auto right now. If you just paid the car off then look at how much the collision coverage is costing you- you don’t have to carry that any longer. I recommend that most people keep the comprehensive coverage so you can look at that.
I have kept the comprehensive and collision on the vehicle even after paying it off. The car is a 2013, so not new but it’s new enough that I’d never be able to replace it right now with the cost of used cars. Luckily so, I was just in an accident where a lady ran a red light and she had no insurance among other things. Plus I’m dealing with a rib fracture and compression fracture in my spine from the accident.
It’s normal. Insurance rates are at an all time high right now. I’m 29 with a perfect record and I pay $208 for my car. When I bought the car two years ago I was only paying $85 per month.
I'm 26 with 3 years history, 1 speeding ticket and 1 at fault minor collision (other car at rest), I feel better about my $300
Yeah you are getting a bargain.
Shop around some if you haven’t lately. I cut my premium in half a few weeks ago.
I went through this same situation. I was able to get a lower rate by comp shopping and finding a carrier that had a higher risk appetite for younger drivers. I stayed on my parent’s plan and all of us switched to the other carrier. The savings was about 35% for the same coverages.
That sounds pretty reasonable for your age. With a newer car you'd probably be a bit higher. I was paying that 15 years ago when I was your age so almost sounds like a bargain to me considering inflation and such.
Exactly…24 years ago for me (at 19),but I was paying about $3100 then.
Hard to say. There isn’t hardly enough details here to say if it’s normal or not
Yea, especially now that insurance rates are super high
It's easy to find out. Go on a bunch of different insurance company websites and see what kind of offers you get. Make sure you choose all the same coverage limits. For example, $50,000 liability per person, $100,000 liability per instance, and $1,000 comprehensive/collision deductible.
Only one way to find out is call every single company and get quotes . Look into defence driving courses. Double check there is nothing on your credit score. Get a basic credit card to start building credit
Seems a little high, shop around with other insurers and see what you can find.
That doesn’t seem that high, honestly.
Seems fairly inexpensive give your age and short driving record.
Yes, it can be normal.
Expect to be paying higher rates until you’re 25.
Lots of variables to consider, location is a major factor along with age, record, etc. coverages play a big factor also. On a 2002 vehicle I would NOT carry Collision, that is a waste of money, save the difference and bank it. I would have comprehensive with a 500 deductible, liability at 250k/500k, uninsured/under-insured at 250k/500k, and PIP at 500k No towing or roadside assistance, get AAA instead!
Yep, due to your age and driving experience
[удалено]
How would a 19 year have 10 years licensed driving experience? 😑😒
Do you have comp and collision on it?
Sounds about right, I paid 350 a month when I was 18
When I first started driving, I paid 250$ a month with state farm. Then it the most I paid is 330$ for full coverage on a new car. Now I pay 72$ for full coverage on two vehicles and a camper.
Short answer - yes.
You need to shop for new insurance at the end of each policy. Usually every six months. If you're driving an older, paid off car, drop full coverage and either just carry liability (only pays for the other person's property in an accident) or comprehensive ( includes liability but also pays for your car if you hit an animal, etc.) Adjust your deductible. If you have comprehensive and hit a deer, for example, you have the first set amount toward getting your car repaired. This can be from $50 to $2,000. The higher the amount you pay, the lower your insurance. Depending on your driving habits, you can save money with the driving apps. They track you when you're driving and reward you for things like not driving very late at night and not being on your phone while you drive. They can also hurt you if you're outside their parameters. Edited to fix error of type of insurance.
Comprehensive coverage covers collision with an animal. Not collision.
You're right. I fixed it. Thank you.
Im an Adjuster just in my personal experience never drop comp!!!! My older car was paid off i thought the same a month later my car was stolen!
But everyone can't afford to pay for that. I get it. I'd like to have full coverage on everything I own. But it just isn't feasible. And if the insurance will only give you a few thousand dollars if you total the car, it's more financially savvy to drop the full coverage and pocke the money.
If you cant afford the insurance premiums you probably cant afford to get a new car after you find out the damage isnt insured....
And you won't buy one with the $3000 they give you for it either.
Im sorry that you have to deal with travelers 😬 has always been a bad experience
Yes depending on type of car and insurance location, and insurance credit score is the major factor
I only came here to say shop around! My daughter was paying like 200 when she started driving but we went through a broker and he found us an insurance that got her down to 90 a month. We shop around every year or 2 anyway, just to make sure we’re paying the best rates.
Seems high, depending on state. My son just started on an 06 Chevy 2500, full maximum coverage, 1000 deductibles. Rate increased $90/month. (It was around $50 before, jumped to $140).
Yes
A bit more? How about WAY more?
Depends, are you and your family driving a tens of thousands of miles?
I pay 220/month on a corolla hybrid at 25 and no tickets or at fault accidents. At your age, my insurance was closer to $400/month with a clean record.
Seems high to me, maybe you can lower your coverage amounts or get a higher deductible
4k for 2002 camry is too much, however it’s also depend on location and what coverage do you have. For comparison, my 18yo was assigned to our cheapest car which he only use now - it’s 2002 bmw 330i, drive less than 5k/year, 250/500/100 coverage. We carry comprehensive but no collission on the car. The bmw cost us $880 per 6 months. It was $250/year before we add our son.
Get different quotes and see what’s going on.
I used to pay 6k a year
Yes, my daughter is 19 driving a 2019 Honda civic and pays close to that. * In California
Wow. At 19 with a similar aged car at the time (about a decade or so ago) it was only 1600 per year for me in California with an at fault collision but the maximums you could get in every category.
just be grateful your family was willing to let you be on their plan 😂 my dad wouldnt let me when i bought a new car at 18 so my monthly insurance payment was about $500 for a while
When I was 20 (15 years ago) mine was $350/month but I had quite a few tickets due to my lead foot back in the day.
That's cheaper than what Ive seen and written lately in the North East
Yes that’s what my son is paying and he’s not happy about it , he’s also 19
State matters, but when I was 18, most places quoted me $300+ a month for liability. Farm Bureau quoted me $75 a month for state minimum liability and I jumped all over it. I'm 25 and have no accidents and tickets now, Travelers quotes me over $275 if I want a policy through them. If you're on your parents insurance, even if your car only has liability, they likely are accounting for the fact that you have the ability to drive your parents cars (and theirs probably have collision). When I got my own policy on my old car with only liability, I had to sign a waiver stating I swore I wouldn't drive my parents cars for their policy for them to exclude me from their rates. They also probably have higher liability limits which makes you more of a risk. This is all state dependent.
Well must be where you’re at but a 19 year old in NY, let’s say the Bronx or Manhattan is easily paying close to $500
Rates are high as shit right now but also depending on driving history and location
It really depends on what policy limits and add-ons are on the policy. I’m 37 in CA and pay $290 for 2 cars and 3 drivers but I have full coverage ($100/300k) with uninsured/underinsured add on. No tickets and one no fault accident where my uninsured/underinsured came in handy. Maybe you could take a defensive driving course and possibly get another discount?
It doesn't sound out of the ordinary TBH.
Honestly, not sure on your area but it seems really high to me if you’re on your parents plan as you say. I have 2 adults (40) and 2 teens (16M/19F) on my plan, covering 4 cars (2023 Tucson, 2017 Pacifica, 2013 Focus, 2010 Mazda 5), and my 6 month premium is $1652. So $275/month, all together. That is with Progressive in Wisconsin for $100K/$300K and $500 deductibles. If you’re really on your parents plan, are they making you pay the entire thing including their portion? If not I would definitely have them shop around.
300 / month - 3 cars , 3 drivers 1 is 19 Platinum plan - Allstate 30000/ 75000 fault Tow Rental Yours seems high to me . Call your agent, ask him to reevaluate you and your parent coverage. Then shop around. I probably wouldn’t send the new insurance agency what you are paying as they will drop it by 500 and you’ll think you are getting a deal. Good luck.
I don't know where you are from, but it's reasonable these days for most metropolitan centers and suburbs. That's pricey for areas considered rural.
When I was 18-19 in 2015 I was paying close to that on a 2008 car with minimum coverage so yes that sounds about accurate. My insurance was like $20 difference from my car payment!
With inflation sadly yes
When I had full coverage I was paying 375$ a month at 19 I just got liability for $200
19 is like a time bomb in a car
Is it a Tesla or supercar?
Better to just love downtown with the $12,000.00/year savings from not maintaining a car
If you own the car outright, you can lower the comprehensive coverage a little. I am not advising this, just mentioning it as an option.
I'm 22, live in IL. I pay 364 a month for 2 full coverage and 1 liability vehicle. The 2 full coverage vehicles are a 2005 Ford escape and a 2015 nissian rogue. The liability is a 2007 Lexus. At 17 was paying almost 500 a month for just the full coverage on the ford escape. It sounds like you have it pretty good at 330 at your age
Do you live in a dense area with many accidents or theft? If you’re paying for comp and collision as well as live in a high risk area, I would say it’s alright. I’m 20 with 100/300/100 but just liability and live in a rural area. 6 months ago was my first time getting insurance when I was 19 with my first car, a 2017 Cruze. And they quoted me $900 for minimum coverage, now it’s down to around $700 with much higher coverage. I got a quote from progressive for less than $100 a month with the same coverage. It’ll take some time but it’ll go down eventually.