Insurance is stopping me from getting an S2000. Any advice?

Discussion in 'Cars in General' started by pimp racer, Dec 8, 2007.

  1. pimp racer

    pimp racer

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    Long story short, I saw a deal on an S2000 that I just CAN NOT pass on. Its my dream affordable car and I realllllllllly want it. (Yeah I know i sound like a little ricer boy.) So the money aspect is not bad as I am getting it for a great price but the insurance is what will KILL me.
    I am about to go to an insurance place sometime next week to see how much it would cost me. I have no wrecks or points or claims.
    I went on some Honda forums and saw people paying like $100-$170 a month for full coverage a month and their age was from 18-26 and believe it or not some 18 year old is getting his full coverage for $161 a month! I think thats some what decent for someone his age. But still a bit too much. I think somewhere in the field of 1000 USD a year would be reasonable but I doubt I can get it for that low as i am under 25 years old. :( I was thinking of getting it on my dads name or something but I'll still have to wait and see.
    So my question is who here has an S2000 and what are they paying? Full coverage? Age? Any bad records such as claims, points, speeding, etc?
    Thanks for the help and wish me luck on that S2000 even though I think I am just kicking a dead horse. You gotta understand I am very frustrated/mad rite now. :nervous::ouch::banghead::censored:
     
  2. MustangSVT

    MustangSVT

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    $1000 a month? Where do you live? I'd kill for that kind of insurance.

    How much do you think insurance for my new Lancer 2008 is? Keep in mind it's a $23,000 CAD car. Since the CAD = US, I can just talk in general dollars. I'm going to be 20 soon, have had a full license for over 2 years, never had any accidents or tickets. You know how much? Nearly $4000 a year.
     
  3. Philly

    Philly Premium

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    Sounds like you have a few options.

    (preferred): Put it on your dad's with you as a driver. This should lower your payments but I think he might have to pay some. Joey just went through this. He probably knows better.

    (Not preferred): Don't insure it. You can't drive it, but it is free to have. And you will have the car for later. But then again, you can't drive it.

    (bad idea): Grow up. Your insurance will go down as you get older. But then again, you won't have the car for a while and you probably won't find the deal again.
     
  4. pimp racer

    pimp racer

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    Florida. From looking at the online forums it seems possible that someone under 25 can get full coverage on an S2000 for around 1000 some more some even less than 1000 (Empolyee discount for this one guy.) I dont think all the people saying that they got their full coverage insurance for $1000 a YEAR are lying. Just time will tell untill I find out.
    $4000 a year?!!! DAMN. Also this is the now EVO version and its that much I wonder how much an EVO version is!

    I probably will put it under my dads name. I will be secondary driver I guess.
    @ 2nd method: Cant do that my dad wouldnt even let me start it up. :lol:
    @3rd method: That takes too long and the car will be gone and there will be too many mileage on it. :(
    *EDIT*
    I'm about to PM those guys on Honda Tech and ask them who there company is. :D
     
  5. JCE

    JCE

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    1) You are in Florida
    2) You are young
    3) An S2000 is a sports car bought by young people almost exclusively--which in itself raises the rate
    4) Does Florida take into consideration credit history like Texas does

    My advice is to pass it up and get a more practical car. Practicality now while you're young and fun when you get older and more mature. Hell, I'm 28 and the insurance would be bad for me on an S2000 I'm sure of it. Its not so much you specifically but your age group AND the car. Its just the way it is.
     
  6. YSSMAN

    YSSMAN Premium

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    How much are you looking at?

    I had an S2000 quoted for me last week being not much more than a $150 (I pay about $120 on my Jetta). Thats actually really cheap considering how fast of a car it is...

    If it matters; I'm 21, spotless driving record, over five years of continuous coverage, and thats with a $500 deductible.

    EDIT:

    If you want an open-air roadster thats just as easy to drive, check out an MX-5 Miata. They're insanely reliable, incredibly cheap, and quite capable as well. In all honesty, it would probably be better to have a Miata before a S2000...
     
  7. BlackZ28

    BlackZ28

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    hmm... when I bought my G35 my premium was 1300/6mos (progressive). Cheapest full coverage available, mind you.
    I can truly say, "I just saved a ton of money by switching to Gieco!" A couple months ago I was playing around at work getting quotes, I put in two quotes to geico and on one of them I said I was married. I am not! Didnt seem to help, but I went ahead and purchased a policy from them a few bucks less than progressive.
    I get a phone call and start getting harassed about applying for a quote and saying I was married even though I'm not. I explained to the lady I was just messing around. She said, "I can save you money." I said, "Okay." She says, "Whats your wifes name?" Umm..."Monica." Needless to say, she saved me over $700 on my 6mo premium! Seemed fraudulent, but hell, she put me up to it! LOL Not to mention my girlfriend is fully covered too! Oh yea, I'm 23.

    Funny part is, we dont live together and dont share the same last name. No questions asked. :D

    Anyways, good luck with the purchase... if you can make the payments do it.
     
  8. Takumi Fujiwara

    Takumi Fujiwara

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    Location, location, location.

    21, Male, no accidents, one ticket, almost three years ago.

    But, for the WRX's insurance, I pay... 5500USD a year!


    I'm about to move less than 15 miles away, to Pasadena, and my company quoted my rate at $2800 or so per year.

    So location can be the deciding factor.
     
  9. Joey D

    Joey D Premium

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    Putting it in one of your parent's names is the best way to go. I had both the Blazer and now the Mini Cooper in my mom's name which significantly dropped the rates. For the Mini, which is brand new, I pay $432.58 per 6 months (I finally got a bill). This is with full coverage through Farm Bureau Insurance. If your parents won't do it, and let's be honest many parents do not want to have their name on the car for legal reasons, than I suggest looking for some other car that is cheaper. Bare in mind though, convertibles are going to be expensive no matter what.
     
  10. Slick Rick

    Slick Rick

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    Yep, putting my mum as first driver and me second cut my quote from £1600 to £900 a year.
     
  11. MustangSVT

    MustangSVT

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    Man I wished I lived in Florida too. By the time I'm 23 and I should have a good enough job to afford something like the new Evo or STi, I'll probably have to pay like 7000 a year for insurance because that's just how Canada is. :tdown:
     
  12. neanderthal

    neanderthal

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    move to the middle of nowhere, nebraska (or kansas, or omaha) and watch your insurance rate go down.
     
  13. Jim Prower

    Jim Prower Premium

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    how about going for minimum (Driver only, not car) coverage? It sounds as if you're trying to fully cover the car. I'd also shop around, even in different cities: we had to go to an agency two hours away to get a decent quote after my brother got t-boned by a police car doing 30 over the limit.
     
  14. Formula1Driver

    Formula1Driver

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    Like a couple of people have said, you should just get it under your dad's name, that would probably be the cheapest option, hopefully you can get it because it is a cool little car. What colour is it in?

    I noticed all us Canadian's are all saying the same thing, really expensive insurance... why is our insurance so stupidly high? My dad was telling me something that was interesting, I do not know if it is true but apparently, in Canada they base our insurance on the most expensive car in the house that it would cost to repair in the event of an accident, not the car that you are listed as secondary driver. So if I am not insured for my dad's G35 but my mom's Subaru they still charge me for the G35 because it would cost more if I got into a crash in it.

    I am not sure they can do that but does anyone know if this is true?
     
  15. Jim Prower

    Jim Prower Premium

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    Wouldn't surprise me. I'm sure they can take advanage of any loophole in the law that lawmakers havent' taken care to patch.
     
  16. MustangSVT

    MustangSVT

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    In canada, I can't be listed as 2nd driver on my Lancer. We have some sort of law in Alberta, such that if there is 2 cars in the household and there is 2 people with a full license (me and my dad), there HAS to be a separate "main" driver on each car. If my mom had a license (she doesn't), then it's possible we could have it so the Lancer is under my mom as main driver, but she doesn't have a license so that's not a possibility. Anyway, my dad can't be put as 1st driver on both our cars, our regional laws don't allow it or something like that.
     
  17. Joey D

    Joey D Premium

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    That's the way it pretty much works here in Michigan too, you have to be a primary on at least one vehicle. I'm on my dad's old work van.
     
  18. forza2.0

    forza2.0 (Banned)

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    £3000 a year on my ibiza. Beat that :indiff:
     
  19. Slick Rick

    Slick Rick

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    Oh yea this is pretty risky on an expensive/valuable car and will only cut your quote about a 1/4. You could insure it for 3rd party, fire and theft and raise you voluntary access to the max which means if you have a crash, insurance company will deal with the other persons involved but you will have to repair your car out of your own money.
     
  20. TheOGSupraFly

    TheOGSupraFly

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    Before you get an s2k, what engine are you planning on? From what ive seen the F20C has a nasty habit of spinning bearings. Like YSSMAN said the MX5 might be the better choice. Even better the MazdaSpeed version, factory turbo :D.

    You guys have some ridiculous insurance rates, $78 a month for my car. Thats full coverage, with theft, gap, passenger medical bills covered, free roadside. Woot.
     
  21. YSSMAN

    YSSMAN Premium

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    What kind of deductible are you running? How old are you again?

    It always depends on the car, what kind of record the driver has, where it is garaged, etc when the rates come out. I'm almost certain that if I had my house in Forest Hills that my rates would be cheaper than whats here in Grand Rapids, thank the crime rates and whatnot...