BigDR

My son wanted a car for his 16th birthday. I was shocked at how expensive insurance (collision and liability) is on any car. A Corvette or GT Mustang was out of the question - quoted $5,000 annually on a 2005 GT and $4,400 if he drives my 1996 LT4. The high rate is a blessing in disguise because no new driver needs a high-powered sports car. Anyway, we ended up buying a new Mustang "Pony" V-6. It's a nice car with just enough power to get out of its own way. The insurance was much cheaper - about $1,900 a year. I guess my question is has anyone found a way to insure a new driver any cheaper? All of our insurance is with Nationwide (multiple vehicles, house, etc.) and I have no violations. My son will have to be added to the policy before June 25th. Thanks.

rap87

USAA is usually pretty cheap if you can become a member.

89onlyZ51

Shop around as many companies treat youthful drivers differently. However, all of them are going charge a hefty rate because the accident rate of 16-20 year olds is sky high.

You can also save significantly by buying him an older car and only insuring it for liability. If he wrecks it and it's his faulty, you'd have to eat the loss. My guess is you could save around $1,000/yr by going that route.

TUNED87vette

I am just turning 19, and I have been driving since 16 in California. You basically can't have collision with a teenager because of the risk. Therefore, you can't have them driving something worth crashing like that mustang or corvette.

I have had to pay for both of my cars, registrations, insurance policies, and repairs, modifications, and gas! It gets pretty expensive, but it's worth it in my eyes. Plus, most people around here get brand new mercedes or bmw's when they turn 16, so it's great to show them up with hard work.

That being said, With state farm I pay $1000 annually to cover both my probe and corvette with liability only including 4 speeding tickets at 19.

I also have a DUI, so I'll have to buy a second insurance policy for the SR-22 paperwork. This may be another $500 to $1000 a year, but I love my cars too much to stop.

As far as my first car, I just got a ford probe for $1000 in perfect condition. There is no need for collision, as I could just buy a new one if it's crashed. However, it gets better gas mileage (20+), is much easier to drive (harder to crash fwd), and is faster than a V-6 mustang or camaro. Runs about 15.0 in the quarter mile stock. Now mine is in the low 14's.

Best Regards,

Paul

champs65

WOW, stick with your company! Thats a good rate for what you describe!

Shimy86

I gotta call BS There is NO company that will insure 2 cars with a record like that ( 4 speeds and a DUI) on a 19 year old for a grand! Insurance is about averages and probability, you have gotten a speeding ticket a year since youve started driving and now a DUI. In any companys eyes, your a massive claim waiting to happen!

I applaud your hard work to pay your own way........but I aint buyin a grand a year.

Cadder

Simple, buy a used car that was inexpensive when new, that is between 5-10 years old. I turned 16 in 1995 and I bought a 1984 Mitsubishi Pickup. Let just say that the insurance on it was dirt cheap. Not only that, but if it was destroyed in a wreck then it wouldn't matter because I bought it for cheap. I didn't start buying expensive cars until I turned 25 and my insurance rates dropped.

When I was a teenager my parents made me save up and buy my own car. Yes, they could have afforded to buy me one easily, but they wanted to teach me responsibility. So, I always bought cars that I could pay cash for and then I would only get liability insurance. Now, with me buying newer/new cars, I buy full coverage insurance.

Fast Cop

Why would you expect anything different than high rates for a 16 year old. To be shocked at the rates you must have been living under a rock or something. JMO

CSS996

I moved from PA to CO in '96, and my insurance rates increased quite a bit. So I feel like our rates are high already....

My daughter is 16, and is still driving on a permit, but we are going to have her drive a 2001 Suzuki Esteem that is paid off. So "her" car will be liability only, and cost about $70 a month. But she is still allowed to drive any car the family owns and be covered.

See what your state laws are like. If they work the same way ours do, go buy a $500 Honda Civic and have him insured on that car, but still be allowed to drive any car in the family. You'll just have to keep registration on the Honda.

Corvette85350

I turned 16 in December and the insurance on my 85 is 3 grand anually.

CRV3TT3

when i bought my 87 when i was 16 it was 950/annual
at the same time i had '99 mustang v6 and a '99 mustang gt. the v6 was 965/annual and the gt was 1800/annual

now im 18 and both mustangs are gone and replaced with a 2002 explorer that is 1022/annual and the c4 is down to 780/annual.

All2kool

I live in Oregon. Please don't move here.

cplonner

On my 06 Dodge ram its $85 a month with Gieco, thats full coverage. See what they do for vettes. USAA for me was like $150 a month for less coverage. My vette is not on the road currently so im not paying insurance for it.

all show and more go

haha suckers i pay 70 bucks a month with 3 speeding tickets, its under my pops name! actaully its cheaper since we have 7 vehicles under his name!

Road Agent

Let him ride a bicycle until he is at least 21!

Steve85

Bought my first vette at 21 from a woman who had to get rid of it...her insurance was going to skyrocket because her son was getting his license even though he was not on the list of drivers for it.

I had to get of it when I got my own policy 2 years later. No tickets but under 25 and single Geico wanted about 5K annually and no other company would touch me.

CentralCoaster

Best way to insure a 16 yr old is put him on your policy, assign him to the cheapest/safest car, and get a good student discount.

Or you do what my parents did, just make him ride the bus and wait till a relative dies to get a car and wait until 18 to get a license because he can't afford driving school.



I shared a policy with my dad for awhile but eventually had to cut myself loose. His tickets were raising my share of the rates. I have my own policy now for less with the same company.

Livin the Dream

When I turned 16 back in 1980 I had a 1973 Mercury Capri. Since it had the optional big 6 cylinder instead of the 4 I paid close to 1k a year back then with Nationwide

bill83c4

progressive actually turned out to be really cheap for me. just have liability on the vette and it's 400 every 6 months. got a $50 discount for singin up online so it was 350. would only be 150 more for 6 months to get my 95 lesabre insured. don't know how these #s add up, but i don't argue. 24yo with dui at 21, no speeding tickets.

Bubba91

When I was 18 (31 now), I test drove, got the loan from my bank, and was on my way home to show my parents my new ride (it was an '85 Porsche 928GT 330hp). So, on my way home I stopped by my insurance company and when they quoted me $4400 per year I had to take the car back and my loan agent cancelled my loan. All in one day. I always wondered what it would of been like to own that car at 18. I ended up with an 83 mustang GT and then spent $5000 making it handle and go fast. I feel your pain, but I loved my stang.