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post #1 of 20 (permalink) Old 04-12-2007, 07:29 AM Thread Starter
 
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Insurance

I was doing some insurance shopping and came across this link:

http://www.statefarm.com/insurance/a...ce/ratings.asp

You can see how cars rate... as luck would have it our GTO's are rated an E (higher than standard), but I noticed the Solstice is an A... (less than standard rates).
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post #2 of 20 (permalink) Old 04-12-2007, 07:32 AM
 
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Ouch... Now be me (18) and do the math
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post #3 of 20 (permalink) Old 04-12-2007, 08:11 AM
 
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One thing that still doesn't make sense to me about it is my last car, Sentra Spec V, is rated as high as the GTO. When I traded for the GTO, my insurance went down about $5 a month. I just can't believe they were that close together.
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post #4 of 20 (permalink) Old 04-12-2007, 08:19 AM
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Look at the car... It's a performance car and is recognized as such.. It generates big Horsepower. What do you think the car should be rated as? One should expect the car to carry a hefty insurance tag. If you want a car in the 4cyl category then get one.

There are guys complaining about MPG, insurance premiums and costs to repair the car, If a person gets one of these and expects the costs to be in the cheapo category then they are not very astute as to what they are getting.

Don't get me wrong I am not flaming, but it don't take a mental marvel to see what you are getting....

BTW...... I would not take anything State Farm has to say for insurance as gospel. They are under fire right now and it's going to litigation from the claims from Hurricane Katrina. According to the news, State Farm used strong arm tactics on their claims adjusters to falsify claims so as the people who were affected were denied claims... There is proof of this and adjusters are coming forward.....

If this is all true and the proof is supposedly out there, do you think they are totally honest on auto insurance in their quotes? I have Erie Insurance, and State Farm is in a different dimension with the rates on the GTO when I inquired.

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post #5 of 20 (permalink) Old 04-12-2007, 08:23 AM
 
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Vehicle Safety Discount= 0%

Question: I was just in a major accident that will certainly be deemed my fault. No one was hurt but probably $30K in damages. This isn't my first accident, but haven't had any in 3 years. Other than that I don't think I have any points on my license, but maybe 1 or 2. Is there any chance they will put me on a prohibited list for my new car choice (not let me insure a GTO)?????
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post #6 of 20 (permalink) Old 04-12-2007, 09:17 AM
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Originally Posted by Castro View Post
Vehicle Safety Discount= 0%

Question: I was just in a major accident that will certainly be deemed my fault. No one was hurt but probably $30K in damages. This isn't my first accident, but haven't had any in 3 years. Other than that I don't think I have any points on my license, but maybe 1 or 2. Is there any chance they will put me on a prohibited list for my new car choice (not let me insure a GTO)?????
IMO : You may be dropped. If you aren't, you'll surely be put on High Risk. If you want to insure a GTO or another type performance car, expect to take a royal reaming.

If you are dropped.....this is the scenario where some one in your situation goes with a Geico, Safe Auto, or another type of minimum rate insurance company because they may be the only one's that will insure you. This is the situation where you take the insurance because you need it. The downside is you will be under insured. If you are in another at fault accident, the person you hit or personal property you damage better have under insured insurance because the company you'd have will only pay a certain amount, and that will open you up as defendant in a lawsuit.

I think you'd find getting a GTO with a record of at fault accidents that are on your record, you will not want to pay the hefty premium you'll be quoted.

You may want to search out an independent Insurance Agent who will search for the best quotes for you. If you cannot find a carrier and you resort to a Geico type carrier, BEWARE of business practices done over the phone with no face to face dialog and papers you cannot examine before committing. If you find yourself going with a minimum rate carrier, be absolutely sure you know what you are getting in to. It's NOT what they tell you that can get you in too deep should you be involved with an accident. You are rolling the dice hoping you have no claim with them.

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post #7 of 20 (permalink) Old 04-12-2007, 01:39 PM
 
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Thanks Judge. I spoke with my insurance agent and got some good new and some bad new.

The Good:
My policy is March to March, the accident was reported on April 1st. They cannot raise my rates for a year, at which point the previous single vehicle accident will be totally expunged. Also the "ran a yellow light" BS ticket I got in MA won't count on my PA license.

The BAD:
I pay $900 a year currently for insuring a 97 Cadillac STS that no longer exists. To move up to a GTO, regardless of driver history, would cost $1783/yr. My agent says to expect a premium of up to 30% next year. This would total $2317.90/yr. or $193.16/month. OUCH. That's not including that fact that I'm actually a MA resident now and need to change my license/registration/insurance to reflect this.

A car payment coupled with increased rent from the new place, coupled with a huge insurance payment wouldn't kill me, but it would sting a bit. I hate to say it but I've started to consider STI's and EVO's. GTO as my only car in Mass would have been worth the impracticality I think, but AWD is a nice feature up here.
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post #8 of 20 (permalink) Old 04-12-2007, 03:20 PM
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Originally Posted by Castro View Post
Thanks Judge. I spoke with my insurance agent and got some good new and some bad new.

The Good:
My policy is March to March, the accident was reported on April 1st. They cannot raise my rates for a year, at which point the previous single vehicle accident will be totally expunged. Also the "ran a yellow light" BS ticket I got in MA won't count on my PA license.

The BAD:
I pay $900 a year currently for insuring a 97 Cadillac STS that no longer exists. To move up to a GTO, regardless of driver history, would cost $1783/yr. My agent says to expect a premium of up to 30% next year. This would total $2317.90/yr. or $193.16/month. OUCH. That's not including that fact that I'm actually a MA resident now and need to change my license/registration/insurance to reflect this.

A car payment coupled with increased rent from the new place, coupled with a huge insurance payment wouldn't kill me, but it would sting a bit. I hate to say it but I've started to consider STI's and EVO's. GTO as my only car in Mass would have been worth the impracticality I think, but AWD is a nice feature up here.

I feel for ya. This is where these minimum rate Insurance companies make their money. Many people would be hell bent on the GTO and go get one where you were quoted 2300 year then take a premium for say 1800 year with all kind of reduced coverages to make it affordable.

Thats fine as long as you have no accidents. If you do, your nightmare is just beginning.

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post #9 of 20 (permalink) Old 04-12-2007, 05:32 PM
 
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Quote:
Originally Posted by TR GTO View Post
One thing that still doesn't make sense to me about it is my last car, Sentra Spec V, is rated as high as the GTO. When I traded for the GTO, my insurance went down about $5 a month. I just can't believe they were that close together.
The key is that insurance companies look at claim data. Younger, less experienced, drivers make up the pool of Spec V drivers. They are more likely to be in an accident than the more mature driver that buys a GTO. Think of this, my insurance dropped when I went from my GTO to my C6. The average buyer of a C6 is a guy in his late 40's to late 50's that buys it for show. 9 out of 10 never put their car on a track, and most don't ever go past half throttle more than the one time they do it to find out what it can do.
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post #10 of 20 (permalink) Old 04-12-2007, 08:04 PM
 
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Quote:
Originally Posted by Castro View Post
Thanks Judge. I spoke with my insurance agent and got some good new and some bad new.

The Good:
My policy is March to March, the accident was reported on April 1st. They cannot raise my rates for a year, at which point the previous single vehicle accident will be totally expunged. Also the "ran a yellow light" BS ticket I got in MA won't count on my PA license.

The BAD:
I pay $900 a year currently for insuring a 97 Cadillac STS that no longer exists. To move up to a GTO, regardless of driver history, would cost $1783/yr. My agent says to expect a premium of up to 30% next year. This would total $2317.90/yr. or $193.16/month. OUCH. That's not including that fact that I'm actually a MA resident now and need to change my license/registration/insurance to reflect this.

A car payment coupled with increased rent from the new place, coupled with a huge insurance payment wouldn't kill me, but it would sting a bit. I hate to say it but I've started to consider STI's and EVO's. GTO as my only car in Mass would have been worth the impracticality I think, but AWD is a nice feature up here.
If it were me I'd probably have to look for another vehicle. As much as you may like and want a GTO, I don't think having one is worth what it would cost you in insurance. But it's your money.
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