Getting my own insurance plan

[archcommus]

My parents are on rather shaky financial ground so I figured when I am able to bring my car on campus I will swallow the extra cost and get my own auto insurance rather than be on their plan (18 years old, it would be literally twice the cost with my own plan with Geico than being with them with Nationwide). Are there any downsides to doing this besides the higher price?

 

[mugs]

why don't you just pay the portion that your car costs on their plan?

 

[archcommus]

Originally posted by: mugs
why don't you just pay the portion that your car costs on their plan?

I would but I'm honestly afraid their bill will be late occasionally.

 

[Gibson486]

If you get a ticket, they would not know That is an upside

 

[Gibson486]

Trust me, money aside, it is very much worth it to get your own plan.

 

[archcommus]

Originally posted by: Gibson486
Trust me, money aside, it is very much worth it to get your own plan.

Okay. I'd be getting liability only in either case, not sure what the exact coverage of the different plans would be, though.

 

[EatSpam]

Look at some other companies besides Geico. Geico wants 4x what State Farm wants for similar coverage in my case. Shop around.

 

[archcommus]

Should I refrain from getting too many quotes at once because they all pull my credit history?

Could I feel safe going with the cheapest? Any companies I should stay away from no matter what?

 

[Kelvrick]

So your parents are on shaky financial grounds and you're thinking about swallowing the extra costs to bring your car to campus?

 

[archcommus]

Originally posted by: Kelvrick
So your parents are on shaky financial grounds and you're thinking about swallowing the extra costs to bring your car to campus?

I'm independent of them financially, all my own money. That doesn't mean I have plenty of dough, just means they don't give me any.

 

[axnff]

If the car is titled to you, your parents' insurance company may be willing to "detach" you from their policy, keeping the same rates (minus any extra discounts they may have qualified for but you don't). I did this when I turned 20 and saved nearly $4k/year over getting my own policy with Geico/Progessive et. al...

 

[Kelvrick]

Originally posted by: archcommus

Originally posted by: Kelvrick
So your parents are on shaky financial grounds and you're thinking about swallowing the extra costs to bring your car to campus?

I'm independent of them financially, all my own money. That doesn't mean I have plenty of dough, just means they don't give me any.

You're still a douche. 18, financially independant? Are you at college completely on schols and grants? Fin-aid? If so, they probably had to co-sign those loan papers, didn't they. Did you buy the car with your own money?

Why aren't you thinking about how you could help them out instead of distancing yourself because they might not even have enough to make a car insurance payment.

 

[archcommus]

Originally posted by: Kelvrick

Originally posted by: archcommus

Originally posted by: Kelvrick
So your parents are on shaky financial grounds and you're thinking about swallowing the extra costs to bring your car to campus?

I'm independent of them financially, all my own money. That doesn't mean I have plenty of dough, just means they don't give me any.

You're still a douche. 18, financially independant? Are you at college completely on schols and grants? Fin-aid? If so, they probably had to co-sign those loan papers, didn't they. Did you buy the car with your own money?

Why aren't you thinking about how you could help them out instead of distancing yourself because they might not even have enough to make a car insurance payment.

Wow, talk about OT, keep your opinions to yourself.

I am paying for school completely from state money, scholarships, my own saved money, and loans. And yes, they had to co-sign for the loans, doesn't mean I don't intend to pay them myself. The car was given to me by my father but that was over two years ago and nothing is owed on the car.

I don't think now is really the time to be considering how much money I can give them to help them out. I currently have very little income which is why I want to bring my car here, so I can get a job off campus and make more money. Even then, I'll have my own bills, books, next semester's tuition, and the interest accruing on the loans I've already taken out. And you think I should stick with them on the insurance so I'm not "distancing" myself and give them money?

 

[archcommus]

Bump for opinions of companies.