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Discussion Starter · #1 ·
as a bit of background, i've got my car, registered in my name, under my parents policy with american family. right now, i'm paying 68 a month full coverage on my 240sx (which i know is really really low, most likely because of my parents highest-possible credit rating and the 25+ years they've had a policy with amfam), and i'm 21 yrs old. No accidents, one 4 point speeding ticket December 2001, and another 4 pointer June 2002. 1st ticket was driving my brothers car, 2nd was driving one of my bands vans.
Today my dad got a letter saying that come September, i will be dropped from their policy. My dad is going to talk to the agent on monday, and they've been tight for a long time so we may be able to work something out (i.e. massively jacked premiums
) but...my question is -
Do I have any recourse because it's been so long? After i came close to losing my license i decided speeding wasn't worth losing my license, and i try my hardest not to. So they decide to punish me NOW?! WTF?!!
Another question - if i do get reinstated, i'm thinking of picking up a really really really cheap beater car to insure as my primary vehicle, with the 240sx as an 'occasional.' Some people say this actually lowers your overall ins payments - true or false?

i cannot expressed how pissed i am right now
so any advice is much appreciated.
 

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Re: absolutely unbelievable - ins. co. drops me 1yr after most ... (90CorradoG60)

Are you still a full time student? They may figure you are done with school and working, and should be paying regular rates.
Get a beater, with liability only, and keep a high deductible on you your primary (better car).
I have three cars. My beater GLi doesn't get driven, so I have the liability only. I raised the deductible to $1k from $500 for the GT and minivan, and my insurance dropped $200 every 6 months.
With the low interest rates, insurance companies are getting lower returns on thier investments, so things are a lot tighter for them. Make one claim and they raise your rates through the roof, a second they drop you these days.
Dave.
 

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Re: absolutely unbelievable - ins. co. drops me 1yr after most ... (90CorradoG60)

I also thought of the age/student item first as the reason for dropping from the parent's policy, rather than two tickets.
 

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Re: absolutely unbelievable - ins. co. drops me 1yr after most ... (speedn16v)

Quote, originally posted by speedn16v »

With the low interest rates, insurance companies are getting lower returns on thier investments, so things are a lot tighter for them. Make one claim and they raise your rates through the roof, a second they drop you these days.
Dave.

Wow. That's like me walking into a casino, dropping $100 on the Yo and getting paid. Then, the casino tells me to leave. Just ain't right. The Ins Co is gambling that they can predict how much they'll have to pay out for me as an insured driver, and if they guess wrong they take their ball and go home. but if they never pay out, I don't get a cent back.
 

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Re: absolutely unbelievable - ins. co. drops me 1yr after most ... (Cooper)

Male, age <25, 2-door car, and >1 speeding tickets = insurance hell. According to bean counters, your profile has the highest rates due to accidents. You can thank all your fellow streetracers and other punks for your misery. I lost my insurance after one speeding ticket and had to get another under my parent's policy. Of course living in NJ didn't help either. I decided not to "officially" drive for 3 years while in college and the DMV will erase all the points off your license. After that, I was able to get a new policy.
 

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Re: absolutely unbelievable - ins. co. drops me 1yr after most ... (90CorradoG60)

90corradog60-
Here is an interesting story for you....
K, so i am at a light waiting for my turn....and on the off ramp from I495 (outerloop) some van is pulling up to the same lane....and REALLY pulling up behind me....then *BAYUM* he hits me in my then Isuzu Trooper....
Police come....paperwork is done........and forward 3 YEARS LATER.....(my insurance which was my own after being with my parents since I began driving) they finally decide to increase my rates. Note that major rear damage was done...window shattered, rear bumper, etc had to be replaced. Bottom line, my rates went up like $200/6 months....
I call the insurance company (Allstate) to see if only going forward I can be charged the difference, as it is not 3 yrs later.......but no dice! I was like WTF? So, I as my cooworkers, and a friends says to check out State Farm Insurance....oh, and yes, I'm no paying like $90/month.....THAT made me VERY happy....oh, and I switched to State Farm!
BTW, about 1 yr after the accident, i traded in my isuzu trooper for a TDI GOLF and am loving it. (BTW, she's UP-d!)

Sorry for rambling on....but that's my story.
 

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Discussion Starter · #7 ·
Re: absolutely unbelievable - ins. co. drops me 1yr after most ... (Cooper)

no, the letter explicitly said that they were dropping me because of tickets, and listed them.
 

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Re: absolutely unbelievable - ins. co. drops me 1yr after most ...

Well, companies are doing weird things lately. Between the wife and I, we've had three accidents in the past 4 years (three in ever, but they've all been in the last 4 years. All three were pretty serious (over $2,000 each) and one involved a totalled Civic Si. Only one was our fault but they were still wrecks. Thing is, our insurance has never gone up one penny. Ever! It's only dropped.
My mom has never been in any sort of accident, her fault or otherwise. Never had a speeding ticket, never had a parking ticket. 100% clean history forever. Her insurance just went up a couple months ago. Only about $20 or $30 every six months, but it did go up.
Explain that to me. I mean, two tickets is two tickets, esp if you're in that ohh-so-screwed under-25 category. But why would ours drop while my mothers goes up?
 

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Re: absolutely unbelievable - ins. co. drops me 1yr after most ... (cratz2)

Hah $30.
Insurance goes up because the incident rate goes up for a particular category. For instance, the car that is driven, the age or sex of the person.
Here in BC, only the car and location is taken into consideration. Unfortunately. Full coverage on my car is around $4k CND. A VR6 is around $4500 /year. You do get a discount on top of that based on years insured and at fault accidents though, up to 43% on optional coverage. I'm at 15% right now I think.
We do have private insurance for optional coverage, and it will generally save you a BIT of $$, but you have to fit certain categories before they'll even talk to you. Like, have been driving for > 10 years. And it might not even save you cash if you do get into an accident, because they'll likely low ball your claim amount. Grrr.
 
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