Camaro Insurance Cost -20yr old male - NJFBOA - Home of New Jersey's Camaros and Firebirds

NJ346 · 04-09-2011, 03:51 PM

So my parent's insurance policy is up on May 1st, 2011 and I play on picking up my own insurance policy after that. I'm only looking to insure my 99 Silverado and 99 Z28. I have NJM with my parents and they said they would give me the best rate since I've somewhat proven myself in the past 3 years. I just did an online calculator for them and it would be $2800/yr for both vehicles with full coverage($500 deductible). I have no tickets/no accidents on record. Does $2800 seem pretty fair for a 20 year old male?

The Fixer · 04-09-2011, 03:59 PM

IMO, I think that's fair for your age, especially considering it's two vehicles. We have NJM and pay about 2K a year for my wife's '03 Liberty and my '06 G35, but we're twice your age.

WildBillyT · 04-09-2011, 04:01 PM

I think it's fair as well.

jts98z28 · 04-09-2011, 04:03 PM

i think thats pretty good, im almost 20 and liability insurance for a neon for me is 130/month but i have 4 points

Tru2Chevy · 04-09-2011, 04:10 PM

Yea, that does sound pretty fair Vinnie. It wouldn't hurt to get a few quotes elsewhere as it doesn't take long, but make sure that none of the quotes you get include a "sign on discount" or something like that. I used progressive when I first left my parent's policy and with no tickets / accidents / etc my rates went up almost $200 after the first 6 months.

NJM is a great company though, and if you want to save a little bit, adjust your deductibles to $750 and see what that would get you.

- Justin

NJ346 · 04-09-2011, 04:22 PM

Quote:

Originally Posted by Tru2Chevy

Yea, that does sound pretty fair Vinnie. It wouldn't hurt to get a few quotes elsewhere as it doesn't take long, but make sure that none of the quotes you get include a "sign on discount" or something like that. I used progressive when I first left my parent's policy and with no tickets / accidents / etc my rates went up almost $200 after the first 6 months.

NJM is a great company though, and if you want to save a little bit, adjust your deductibles to $750 and see what that would get you.

- Justin

I was playing around with the deductibles and it only saved me about $100/yr. Also took full coverage off of 1 vehicle and no matter what it only lowered it to ~$2300. This was all done online, when it gets closer to May 1st I'll make the phone call and see if I can play with some numbers with an agent over the phone.

On a side note, my parents always told me insurance companies dont like you constantly changing the amount of cars on the policy. For instance, my camaro has only seen ~1500 miles on it in the past 18 months, so there are winter months where I would consider not covering it since I wouldn't be driving it. Any truth to that?

The Fixer · 04-09-2011, 05:28 PM

Quote:

Originally Posted by NJ346

On a side note, my parents always told me insurance companies dont like you constantly changing the amount of cars on the policy. For instance, my camaro has only seen ~1500 miles on it in the past 18 months, so there are winter months where I would consider not covering it since I wouldn't be driving it. Any truth to that?

You could tell NJM that's its a pleasure-use-only vehicle that is only driven 3K miles a year or less, and it should help. Many moons ago (when I was still single) I had a '96 Impala SS and two '85 Monte SSs all insured by NJM at the same time. Obviously I couldn't drive all 3 at the same time so they insured the two Montes as pleasure vehicles, and they were much cheaper than my DD Impala.

As a side note, I would not consider dropping the insurance on it in the winter - if something happened to it while it was in storage you'd be out a boatload of $$ since it's not covered.

NJ346 · 04-09-2011, 07:20 PM

The quote of $2800 was with the camaro being listed as a pleasure vehicle(which still was $1900)

coolmanvette75 · 04-09-2011, 09:31 PM

2800 is very good. Im 17 and im right around 3300 for me and full coverage on the camaro under my parents policy, with a clean record.

emolineaux · 04-09-2011, 11:31 PM

sounds like a fair price vin. i think i pay just under that for my 2010 genesis and 93 s10.

but yea give a few places a call. i know when i was looking awhile ago esurance was cheapest price around that i could find. and they beat everyone elses prices that i called by a few hundred.

S.J.SLEEPER · 04-09-2011, 11:36 PM

2nd. on the essurance, I just changed to them, wheeled & dealed with them & saved myself $40/mth ($480 yr.)

And that was just a vehicle w/liability & p.i.p. NO fire/collision

BigAls87Z28 · 04-10-2011, 11:10 AM

That sounds very good. I don't want to announce my trillion dollar insurance rate, but 2800 a year sounds about what I payer when I was 21 with full on my old malibu and Camaro.

LS1ow · 04-10-2011, 07:39 PM

$233 a month for me(18, 1 accident, no tix) on my own policy w. my 01 Z

BurninrubberGT · 04-10-2011, 07:54 PM

1900 is what NJM quoted me last year for a 02 ws6, that was at 19 yrs old, no tickets, and 1 no fault accident

Tru2Chevy · 04-10-2011, 10:55 PM

Quote:

Originally Posted by 5.s1ow

$233 a month for me(18, 1 accident, no tix) on my own policy w. my 01 Z

Just spouting out rates doesn't mean anything unless you share the coverage as well. Rates will vary a lot based on coverage limits.

- Justin

greenformula92 · 04-11-2011, 07:46 AM

2800 for the year isn't bad, when i was 20 my insurance was like 3000 for the year

Artful Dodger · 04-11-2011, 10:30 AM

I have had NJM for many years. I can't find anyone lower than them!

That's a good rate!

Savage_Messiah · 04-12-2011, 01:37 PM

Quote:

Originally Posted by NJ346

I was playing around with the deductibles and it only saved me about $100/yr. Also took full coverage off of 1 vehicle and no matter what it only lowered it to ~$2300. This was all done online, when it gets closer to May 1st I'll make the phone call and see if I can play with some numbers with an agent over the phone.

On a side note, my parents always told me insurance companies dont like you constantly changing the amount of cars on the policy. For instance, my camaro has only seen ~1500 miles on it in the past 18 months, so there are winter months where I would consider not covering it since I wouldn't be driving it. Any truth to that?

I've found that the online quotes and in-person quotes can be pretty far off from each other. At this point I personally won't even bother with online quotes anymore. Granted I have a horrible driving record from 2-7 years ago

but still.

Also, I at one point asked my insurance co (Geico at the time, I believe, I was still on my parents policy) if I caould drop the camaro since it wasn't in use and re-insure it at a later date, they told me you can't have a car registered and not insured in NJ no matter what, and the DMV would have to be notified that you dropped insurance and could potentially fine you. Don't know how factual that is or how likely that is to actually happen, but if it's true it's something to keep in mind.

BonzoHansen · 04-12-2011, 01:47 PM

you have to turn in the plates to un-insure a car. I think the carriers are legally required to see proof that you did turn the plates in IIRC.

86ta-adf · 04-12-2011, 02:04 PM

Quote:

Originally Posted by BonzoHansen

you have to turn in the plates to un-insure a car. I think the carriers are legally required to see proof that you did turn the plates in IIRC.

I don't know I have a ton of plates in a box...

BonzoHansen · 04-12-2011, 02:14 PM

I have some too, but they are from a while ago. I dont know the timing of the law or how tight insurers follow the rules.

Tru2Chevy · 04-12-2011, 07:03 PM

You can un-insure a car with no problems, but eventually the DMV is notified and if you still have the plates and active registration on that vehicle, then they will send a letter giving you X amount of time to prove insurance, turn in the plates, etc before suspending your license.

- Justin

greenformula92 · 04-13-2011, 08:30 AM

yeah i have like 5 sets of plates from over the last 4 years or so and i have never seen such a letter....guess im lucky lol

Tru2Chevy · 04-13-2011, 04:10 PM

Quote:

Originally Posted by blk95formula

yeah i have like 5 sets of plates from over the last 4 years or so and i have never seen such a letter....guess im lucky lol

Do you still have active registrations that are associated with those plates, or did you let them lapse?

- Justin

Tale128 · 04-21-2011, 05:04 PM

Gotta watch with those plates, sometimes, I stress sometimes, they can revoke your registration privileges when you have an uninsured vehicle with plates, then your name pops everytime any of your plates get run, I know when I was overseas I was able to call the insurance company and tell them the car was "off the road" saved me a lot and the car was still insured you can do that in the winter months, I use state farm though