Insurance Costs

[twofortysx]

Okay, so I go over to insweb.com and am playing around with qoutes and the like.  I get an insurance qoute for myself with a 1998 NSX-T with the 3.5l V6.  My rates come out to about $180/mo as an average.  

THEN, I change ONLY the car.  I change it to my 98 s14 with the same coverages, same ticket history (one two and a half years ago), same address..EVERYTHING is the same.  The average qoute is $250/mo!!!!!

WHAT THE ####?!?!?  How in the world is my insurance on a 4cy s14 higher than on a 290hp $80k+ vehicle that is considered an exotic AND is MR?!?!?!?!?!?!?!?

Any ideas?

[Bomix]

I don't know either.. :confused: get the NSX hehe..:cheesy:

[JeffNJ]

Insurance is very complicated. You see, how it works is as follows: Various factors about your driving record, your car's available power, the driving records of other people driving similar cars, how many accidents you've been in, how many accidents you've read about, your age, your marital status, and how many kitty cats you own are taken in to consideration. Then, all of those numbers are written on tiny pieces of paper and thrown on the floor for interns to play with. Based on how long they stay amused, a highly-sophisticated computer program compares this duration to that of an average rainfall in Tahiti. The resulting ratio is then inversed and multiplied by a completely random number (frequently chosen by a child asked to guess what number your agent was thinking of) and subsequantly divided by your age. The result is your annual insurance premium. Or, monthly if you're male.

I hope this helps.

(Edited by JeffNJ at 4:22 pm on Feb. 1, 2002)

[twofortysx]

Yeah, but I would think that such an expensive car that has so much power would be far more expensive. &nbsp;I better check the pricing on that Ferrari I been wanting <img src="http://www.zilvia.net/f/iB_html/non-cgi/emoticons/smile.gif" border="0" valign="absmiddle" alt=':)'>

[West]

Insurance = The Devil

I pay $180 a month for liability only on my 89 240SX.

EVIL!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[240 2NR]

I ran into the same thing when buying a car. &nbsp;A 94 mazda RX-7 worth $15k was going to run me $1257 a year in premiums. &nbsp;After a while I decided this car was no longer for me (at this point in my financial life, but at some point I will drive a silver 7) so I got a quote for an $11k 97 240sx. &nbsp;This quantum leap in performance loss was going to save me $7 a year.

A bit part of it is the risk associated with the car. &nbsp;Since the RX-7 was $38k when new and driven low miles by mostly wealthy adults it has a low risk. &nbsp;The 240 with its lower price has a much younger (read less responsible) following and therefore is probably involved in more accidents and therefore a higher rick for the insurance company. &nbsp;In the end I got a 93 240 hatch and it's costing a little over $900 a year. &nbsp;Shop around though. &nbsp;I had quotes as high as $4000 for the 7, and as low as the one listed above. &nbsp;I'm 23 and have a near perfect driving record (one ticket for changing lanes without a turn signal, no points) in WI for comparison.

[Nismos14]

we need pics of the 89 west!

[twofortysx]

</span><table border="0" align="center" width="95%" cellpadding="3" cellspacing="1"><tr><td>Quote </td></tr><tr><td id="QUOTE">Quote: from 240 2NR on 1:58 pm on Feb. 1, 2002
I ran into the same thing when buying a car. A 94 mazda RX-7 worth $15k was going to run me $1257 a year in premiums. After a while I decided this car was no longer for me (at this point in my financial life, but at some point I will drive a silver 7) so I got a quote for an $11k 97 240sx. This quantum leap in performance loss was going to save me $7 a year.

A bit part of it is the risk associated with the car. Since the RX-7 was $38k when new and driven low miles by mostly wealthy adults it has a low risk. The 240 with its lower price has a much younger (read less responsible) following and therefore is probably involved in more accidents and therefore a higher rick for the insurance company. In the end I got a 93 240 hatch and it's costing a little over $900 a year. Shop around though. I had quotes as high as $4000 for the 7, and as low as the one listed above. I'm 23 and have a near perfect driving record (one ticket for changing lanes without a turn signal, no points) in WI for comparison.
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I figured that some of these may be part of the reason too. &nbsp;I wish my insurance was as low as yours, it's almost $2400/yr with full coverage and VERY high limits (like 100/300).

It sucks but I gotta pay it because I'm not buying a #### civic.

[240meowth]

i got raped up the ass for my insurace, i'm paying 1200 a year for liability... shucks... #### 2 at fault accdens in 6 month... :biggrin:

p.s. try to look up insurance for a mclaren, you'll find out no insurance company will insure you... &nbsp;i believe that car is legal to drive w/o insurance... from what i heard

[240 2NR]

twofourtysx- I think I actually have 300/300 coverage, with $30 a day rental car (that was another $9). &nbsp;Since it was my first car on my own insurance, they recomended I go higher than required to increase my chances at getting covered on the 7. &nbsp;I just kept the same numbers when I changed cars.

[Tuck&Poke]

no car is legal to drive w/o insurance. &nbsp; i think the reason the nsx is cheaper is probably because the people who generaly own them know how to drive better. &nbsp;theyre usualy older and know what theyre getting into with an MR car with 290hp. &nbsp;they also have more experience on the road because they are older. &nbsp;not to mention theyre serviced by honda. &nbsp;its very cheap to service a honda.

[West]

A NSX is by no means cheap to service since they are hand built.

[Krunko]

I'm 21.

I have one minor accident on my record, and that's it. (idled into someone, scratched their paint)

I pay about $183 a month for full coverage with a 500/1000 deductable.

[twofortysx]

</span><table border="0" align="center" width="95%" cellpadding="3" cellspacing="1"><tr><td>Quote </td></tr><tr><td id="QUOTE">Quote: from 240 2NR on 2:39 pm on Feb. 1, 2002
twofourtysx- I think I actually have 300/300 coverage, with $30 a day rental car (that was another $9). Since it was my first car on my own insurance, they recomended I go higher than required to increase my chances at getting covered on the 7. I just kept the same numbers when I changed cars.
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####..I have all the bells and whistles on my policy too but your limits sound higher. &nbsp;I wonder if I maybe get charged more because of where I live? &nbsp;Are you in CA?

[HippoSleek]

Another factor in the ins game is theft rate and damage repair costs. &nbsp;I can say that a broken window and cheapo stereo theft was about $1800 for my s14. &nbsp;Glass and plastic were $$$$. &nbsp;I know that the s14 got a horrible insurance review b/c of the front end damage it sustains in a low speed impact (those sh!tty plastic lights are like $250 each!). &nbsp;Can't speak to who would steal one though - an Integra it ain't (now THAT's an expensive car to insure).

Two other things - drivers (entry-level drivers w/ a RWD car that likes to spin = money). &nbsp;And why do you guys have such high insurance packages? &nbsp;Do you really have that much money? &nbsp;I always wonder about this b/c I have friends w/ 100/300 or 300/500 who make like $35K/yr. &nbsp;In law, that's called judgment proof (i.e., can only make a poor man so much poorer). &nbsp;If you don't make or have enough to lose, my advice is lower your coverage and make the other guy take it out of his under insurance policy. &nbsp;I never had better than minimal coverage until I was employed at a nice salary.

[240 2NR]

twofourtysx- niope like I said before I'm in Madison WI. &nbsp;I'm using Amica for insurance. &nbsp;Only catch is you must have been an insured driver for at least 3 years with a clean record.

[duderiffic]

Yea ummm I pay $225 a month for insurance on my 1998 SE. &nbsp;I'm 20 and I have a flawless driving record, and life insurance with the same company!! 240s are very very very expensive to insure. &nbsp;Same price as older Supra... gay!

Jeff

[drift freaq]

one word for you guys Wawanesa, great company , great rates.
They are on the Web the are an old school highly rated Canadian company that is now in the U.S. too. I have full coverage for $1257 a year in Los Angeles one of the highest rate area's in the country.

[bing]

i pay $144 canadian, but all it does is cover me if i kill someone..

Somebody shed some light on this one:

Friend drives 95 RX-7 TT pays $88 a month for insurance

I drive '95 240 and pay close to $300 a month

what the #### is that? &nbsp;I just don't get how insurance is so much on this car.

[wherezmytofu]

the interesting part is the nsx is 3.2 liter v6 not a 3.5............

[mbmbmb23]

Im 24, no accidents ever...or speeding tickets...and I have a 93 base model hatch. &nbsp;I have State Farm, and have for 3+ years. &nbsp;I pay $76/ month for moderate full coverage AND a $50,000 life insurance policy. &nbsp;They give you a multiline policy discount. &nbsp;I would pay $74/mo without the life, but ..add the life ($11/mo), and my monthly drops to $63/mo......plus the $11 for life.
My advice is to make friends with an insurance agent..and they can possibly hook you up (put down you have an airbag, base model, etc..)

M

[Archangel]

Bing, you may need that.. <img src="http://www.zilvia.net/f/iB_html/non-cgi/emoticons/smile.gif" border="0" valign="absmiddle" alt=':)'>

I'm 21, have perfectly clean driving record, and have a 98 240sx.
My insurance agent told me it would be cheaper to insure a new Vette than my car !! :shocked:
This was mainly because my car doesn't have ABS, or an anti theft system. &nbsp;Then see tells me the money to add those things on (like if I bought an alarm) wouldn't be worth the few dollars I'd save on my bills.
All you can do is just hold out until you're 25 and your insurance rates drop.

[thewholefnshow]

The insurance on my 98 Neon was more expensive that my 97 240 by ober 10 bucks a month. 177 a month in the 240 instead of 189 in the Neon... figure that one out! Neons are common as #### and nobody steals them... but sure enough, more than the 240!

[s15dude]

The reason I don't have a 240 yet is cuz the insurance was gonna be like $1500 for 6 months full coverage which unfortunately I can't afford. Since then I have gotten 3 speeding tickets so who knows what its gonna go up to. So no 240 for me anytime soon. The funny thing is, the insurance company said that if I kept my integra and added the 240 as a 3rd car then to my parents plan, that it would be cheaper than just having the 240 as a 2nd car. Funny how that works.

[duderiffic]

Does State Farm offer a break for car security?

Jeff

[matic 240sx]

yea, they do here... i dont remember how much but i had an alarm the day i got the car and i have full coverage and its 150 a month..

[twofortysx]

</span><table border="0" align="center" width="95%" cellpadding="3" cellspacing="1"><tr><td>Quote </td></tr><tr><td id="QUOTE">Quote: from HippoSleek on 3:26 pm on Feb. 1, 2002
Another factor in the ins game is theft rate and damage repair costs. I can say that a broken window and cheapo stereo theft was about $1800 for my s14. Glass and plastic were $$$$. I know that the s14 got a horrible insurance review b/c of the front end damage it sustains in a low speed impact (those sh!tty plastic lights are like $250 each!). Can't speak to who would steal one though - an Integra it ain't (now THAT's an expensive car to insure).

Two other things - drivers (entry-level drivers w/ a RWD car that likes to spin = money). And why do you guys have such high insurance packages? Do you really have that much money? I always wonder about this b/c I have friends w/ 100/300 or 300/500 who make like $35K/yr. In law, that's called judgment proof (i.e., can only make a poor man so much poorer). If you don't make or have enough to lose, my advice is lower your coverage and make the other guy take it out of his under insurance policy. I never had better than minimal coverage until I was employed at a nice salary.
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I make around 50k/yr but in Sacramento (and likely all across the country) people are sue happy. &nbsp;People will sue your ass for looking at them crooked. &nbsp;I keep high coverages because if I cause an accident I want to make sure that I'm covered as far as liability goes and that the other party is covered too. &nbsp;I mean, if I do something stupid and hurt somebody I don't want them to have any troubles more than their injuries. &nbsp;Plus, if they sue and it's less than my limits, I'm covered, but if I had like 25k limit and they sued for 30k, guess where that other 5k comes from <img src="http://www.zilvia.net/f/iB_html/non-cgi/emoticons/smile.gif" border="0" valign="absmiddle" alt=':)'>

Tofu: &nbsp;Actually, there are two engine options on the NSX for 98 and I believe the engine you get is based on your choice of transmission. &nbsp;I can't remember if the engine combo is 3.0/3.2 or 3.2/3.5. &nbsp;After reading the insweb page I came over here and could have jumbled some info in the process. &nbsp;Either, way, same deal on the insurance. &nbsp;Even if I had the smaller motor I still would've expected the insurance to be higher <img src="http://www.zilvia.net/f/iB_html/non-cgi/emoticons/smile.gif" border="0" valign="absmiddle" alt=':)'>

[Jeff240sx]

Its rediculous. &nbsp;I am 19 now, and at 16, without any driving experience, I insured a Corvette, 515hp, bright yellow, 1985 with a 1996 body, new engine, all the mods to make it a good looking 11.2sec 1/4 runner. &nbsp;This was in my name, but under my parents insurance policy. &nbsp;The tags cost me $58/yr and insurance cost me $120/mo. &nbsp;It stayed about that number, despite numerous tickets and an accident, labeled not my fault. &nbsp;When I changed cars to my s14, I was quoted $160/mo under my parents, and my tag fee went to $68/yr. &nbsp;WTF?
-Jeff

[Tuck&Poke]

the automatic has a 3.0 liter i-6 and the 5/6speed has the 3.2l i-6. &nbsp;just to clear that up. &nbsp;the reason your insurance rates are so high is cause were (most of us) are under 25. &nbsp;thats the most expensive are 25 and under. &nbsp;we are a high risk

[my240likenoother]

i pay $160 a month
full coverage pluss i have extra inshurance on the front bumper and on the stereo
it all depends were you live

i want to open my own com. were if you get no tickes no acadents i will give 10% of the years total back at the end of the year

[HippoSleek]

</span><table border="0" align="center" width="95%" cellpadding="3" cellspacing="1"><tr><td>Quote </td></tr><tr><td id="QUOTE">Quote: from twofortysx on 9:29 am on Feb. 2, 2002
</span><table border="0" align="center" width="95%" cellpadding="3" cellspacing="1"><tr><td>Quote </td></tr><tr><td id="QUOTE">I make around 50k/yr but in Sacramento (and likely all across the country) people are sue happy. People will sue your ass for looking at them crooked. I keep high coverages because if I cause an accident I want to make sure that I'm covered as far as liability goes and that the other party is covered too. I mean, if I do something stupid and hurt somebody I don't want them to have any troubles more than their injuries. Plus, if they sue and it's less than my limits, I'm covered, but if I had like 25k limit and they sued for 30k, guess where that other 5k comes from <img src="http://www.zilvia.net/f/iB_html/non-cgi/emoticons/smile.gif" border="0" valign="absmiddle" alt=':)'>
</td></tr></table><span id='postcolor'>

I totally understand the &quot;sue happy&quot; mentality (I'm an attorney <img src="http://www.zilvia.net/f/iB_html/non-cgi/emoticons/wink.gif" border="0" valign="absmiddle" alt=';)'>). &nbsp;What I was saying is that for many people who barely make enough to live on are &quot;judgment proof.&quot; &nbsp;If you an in an accident, people will sue to the limit of your policy (say $50K). &nbsp;If their injuries exceed that, policies have &quot;uninsured/underinsured&quot; motorist provisions which allows them to claim from their own policies to the limit of coverage. &nbsp;The insured (crashee) can either sue you or take against the policy. &nbsp;

If they chose to sue you, there is a limit to what they can get (can't get car, house, clothes off you back, etc.) - only your resources above that needed for basic living. &nbsp;Generally, someone making $40K or so is barely getting by and can't afford to pay a judgment. &nbsp;Therefore, if they sue and win a judgment, it can't be paid b/c there is no extra money. &nbsp;That is being judgment proof. &nbsp;As a result, they will generally not waste their time suing you, but will get the excess money from the policy. &nbsp;

Accordingly, someone who makes barely enough to live on should not get high limit insurance b/c they literally have nothing to lose.
-mark (who now has 300/500 <img src="http://www.zilvia.net/f/iB_html/non-cgi/emoticons/wink.gif" border="0" valign="absmiddle" alt=';)'>)

[twofortysx]

</span><table border="0" align="center" width="95%" cellpadding="3" cellspacing="1"><tr><td>Quote </td></tr><tr><td id="QUOTE">Quote: from HippoSleek on 9:42 am on Feb. 3, 2002
</span><table border="0" align="center" width="95%" cellpadding="3" cellspacing="1"><tr><td>Quote </td></tr><tr><td id="QUOTE">Quote: from twofortysx on 9:29 am on Feb. 2, 2002
</span><table border="0" align="center" width="95%" cellpadding="3" cellspacing="1"><tr><td>Quote </td></tr><tr><td id="QUOTE">I make around 50k/yr but in Sacramento (and likely all across the country) people are sue happy. People will sue your ass for looking at them crooked. I keep high coverages because if I cause an accident I want to make sure that I'm covered as far as liability goes and that the other party is covered too. I mean, if I do something stupid and hurt somebody I don't want them to have any troubles more than their injuries. Plus, if they sue and it's less than my limits, I'm covered, but if I had like 25k limit and they sued for 30k, guess where that other 5k comes from <img src="http://www.zilvia.net/f/iB_html/non-cgi/emoticons/smile.gif" border="0" valign="absmiddle" alt=':)'>
</td></tr></table><span id='postcolor'>

I totally understand the &quot;sue happy&quot; mentality (I'm an attorney <img src="http://www.zilvia.net/f/iB_html/non-cgi/emoticons/wink.gif" border="0" valign="absmiddle" alt=';)'>). What I was saying is that for many people who barely make enough to live on are &quot;judgment proof.&quot; If you an in an accident, people will sue to the limit of your policy (say $50K). If their injuries exceed that, policies have &quot;uninsured/underinsured&quot; motorist provisions which allows them to claim from their own policies to the limit of coverage. The insured (crashee) can either sue you or take against the policy.

If they chose to sue you, there is a limit to what they can get (can't get car, house, clothes off you back, etc.) - only your resources above that needed for basic living. Generally, someone making $40K or so is barely getting by and can't afford to pay a judgment. Therefore, if they sue and win a judgment, it can't be paid b/c there is no extra money. That is being judgment proof. As a result, they will generally not waste their time suing you, but will get the excess money from the policy.

Accordingly, someone who makes barely enough to live on should not get high limit insurance b/c they literally have nothing to lose.
-mark (who now has 300/500 <img src="http://www.zilvia.net/f/iB_html/non-cgi/emoticons/wink.gif" border="0" valign="absmiddle" alt=';)'>)</td></tr></table><span id='postcolor'>

Heh, where do you live? &nbsp;$40k is still a pretty good paycheck here, I always have a ton of dough left over at the end of the month and I live on my own. &nbsp;If I got sued for 10g though I would just laugh cuz I don't have that kind of money <img src="http://www.zilvia.net/f/iB_html/non-cgi/emoticons/smile.gif" border="0" valign="absmiddle" alt=':)'>

Recently some chick sued my girlfriend for 5k for an accident a year ago. &nbsp;My girlfriend tapped this lady at a stoplight as the light turned green (so they'd been stopped for a minute or so and she accidentally engaged the clutch). &nbsp;The lady said that she hit the car in front of her which was a BRAND new Mustang. &nbsp;The Mustang had no damage, my girlfriends Integra had no damage and this chicks Tercel (a previous salvage no doubt) was fucked up. &nbsp;hmmmm, gee how'd that work out? &nbsp;She claimed a ton of injuries and damages so AAA hired us a kick ass lawyer and we battled this chick. &nbsp;Judge found in our favor, too bad she's out a few grand in false injury therapies <img src="http://www.zilvia.net/f/iB_html/non-cgi/emoticons/smile.gif" border="0" valign="absmiddle" alt=':)'>

[wherezmytofu]

ok.....thats about enough......

seeing that i use 2 be a honda fanatic that about enought wrong nsx info....i mean alot right and a few wrong parts <img src="http://www.zilvia.net/f/iB_html/non-cgi/emoticons/biggrin.gif" border="0" valign="absmiddle" alt=':D'>

early 90's nsx had a 3.0 liter v6 6speed manual
newer &lt;2002 has a 3.0 liter iron reinforce fiber v6 5-speed auto and 3.2 iron reinforce fiber v6 6 speed manual

[dementedS14]

you guyz know why its high on premiums is because our cars are considered SPORTS CARS thats what i was told. &nbsp; i pay $200 a month and thats full coverage i have 2 points on my record it was for reckless driving and i have a $500 dollar deductible.