Should I put the insurance under parents name or mine?

[LuNoTiCK]

Well I've been looking for some car insurance for a 2003 Honda Accord LE. All the quotes are so expensive, Geico quoted me over $11,000 a year. The lowest I saw was like $7800. I'm a 19 year old male in NY. Anything I could do to make insurance cheaper, or anyone know any better companies? I can't afford to pay that much.

Edit: I was curious because if I ever do crash, can't they sue my parents instead of me? Another solution would be to get a car that will not cost as much for insurance, any suggestions?

 

[Coquito]

NY is no fault insurance I believe. Both companies will pay the damages & your rates will go up.

Plenty of people put cars under their grandmother's name & so on. Not sure of the actual steps to take.

 

[KingNothing]

gaaaaaaaaaaah :Q

 

[Tsaico]

You should put yourself as an additional driver under your parents policy. My family did this and I saved myself roughly 60% off what I ould have paid on my own, IIRC was about 9,000 for the year.

 

[vi edit]

Fsck the car and take the bus!

That's horrible!

 

[Syringer]

$11k a year?? $1100 a year is more in the reasonable range..

 

[caivoma]

do what tsaico said, i did the samething and i cost me a lot less

 

[BD2003]

Originally posted by: LuNoTiCK
Well I've been looking for some car insurance for a 2003 Honda Accord LE. All the quotes are so expensive, Geico quoted me over $11,000 a year. The lowest I saw was like $7800. I'm a 19 year old male in NY. Anything I could do to make insurance cheaper, or anyone know any better companies? I can't afford to pay that much.

Edit: I was curious because if I ever do crash, can't they sue my parents instead of me? Another solution would be to get a car that will not cost as much for insurance, any suggestions?

Welcome to new york. Im assuming youre in the city, probably queens. $11,000 a year is the most I've ever heard of, although geico quotes me at $3600-$4800 a year, which is still absurd, and I'm a 24 y/o male.

Pretty much the only thing you can do to get your insurance down to a reasonable level is to either move or wait a few years. Getting onto your parents will definitely help, but its still going to hurt.

 

[BD2003]

Originally posted by: LuNoTiCK
Well I've been looking for some car insurance for a 2003 Honda Accord LE. All the quotes are so expensive, Geico quoted me over $11,000 a year. The lowest I saw was like $7800. I'm a 19 year old male in NY. Anything I could do to make insurance cheaper, or anyone know any better companies? I can't afford to pay that much.

Edit: I was curious because if I ever do crash, can't they sue my parents instead of me? Another solution would be to get a car that will not cost as much for insurance, any suggestions?

I dont think they can sue your parents instead of you, but if and when you do crash, not only will your insurance go up, but so will theirs, and probably by quite a bit.

Skip the comprehensive coverage and go for straight liability. Get an older car. Then you might get it down to $4000 like me, and realize that thats about $350 a month still, which is going to cost more than your car itself. I hope you have a good job.

Seriously, the metrocard is your friend. These arent the suburbs. If you wanna look cool and have a car around here, youre gonna pay hard for it.

 

[LuNoTiCK]

Yea, but I do go to school upstate. So it is a pain. I guess the solution is to put my name under my parents policy. I'm pretty sure I've always been on there anyway.

Edit: whats even scarier is Geico quoted my friend $14K for a $4,000 civic.

 

[Andrew111]

11K:Q? I'm 19 with a $500 deductible(full coverage) in downtown DC and I'm paying $4,000 a year....and I thought that was high, which it is. If I'm the legal owner of the car, I can't be put on my parents policy can I? That's what a Geico rep said....and I forgot to follow up to make sure they weren't BS'n me.

 

[OMG1Penguin]

I am pretty sure if your limits don't cover you in an accident, they can sue your parents. That is why the rates are cheaper if you are under your parents. On that note, It was cheaper for me (20, m, single) to get insurance under my own, since my parents have umbrella coverages so they are never caught with short limits.
My mom works for an insurance company, and this is about what I remember. If insurance is that high for a new car, you may want to consider sucking it up and driving a (!GASP!) pre-2000 car.

Geico has always quoted me high. Try going with your parents insurance company (on your own policy). State Farm has always been pretty cheap.

 

[dabuddha]

Originally posted by: Andrew111
11K:Q? I'm 19 with a $500 deductible(full coverage) in downtown DC and I'm paying $4,000 a year....and I thought that was high, which it is. If I'm the legal owner of the car, I can't be put on my parents policy can I? That's what a Geico rep said....and I forgot to follow up to make sure they weren't BS'n me.

dang! I'm in DC as well and I pay $600 a year with a $250 deductible ( full coverage )

But 11k????? Not worth driving a car for that much money unless you make millions a year.

 

[SpunkyJones]

Originally posted by: KingNothing
gaaaaaaaaaaah :Q

Double gaaaaaaaaaaah!!!!!!! :Q :Q

 

[mchammer187]

11K a year you have got to be kidding me

that would be a good 20% of my salary, i don't see how anyone can afford something like that
even if i was making 100K i wouldn't even consider spending that much on insurance



i was quoted at 1500 / yr in Northern, VA and I think that is a scam

 

[mk52]

Went through the same thing 2 months ago.

They also quoted me over 10k for a new car (I'm 23 and got my license changed from a European to a NY state one 2 years ago).
The Allstate guy basically said if you want a car you have to get a real piece of SH!T for 3 years as in NY there is something like a state pool, which all new insurance customers are plugged in for 3 years. After three years you are then allowed to switch to your own insurance company with much better rates.

Even on my mothers name it was like 6k with highest deductable (she also just had her Euro license changed to NY state).

So I ended up getting a little older Audit A4 01 under my mothers name and only pay like 3700 for just liability. It's not ideal but I have a few friends who do the same thing and even had their cars totaled under their parents name and the insurance still payed. At the end of the day as long as I dont cause any accidents I ll be fine. So if you can live with that risk you can get a nice car if not a 10 year old civic it is.

 

There's no such think as a Honda Accord LE. Is it an LX or an EX?

 

[LuNoTiCK]

Originally posted by: jumpr
There's no such think as a Honda Accord LE. Is it an LX or an EX?

Your right, it's an LX, I'm stupid.

 

[jyates]

Originally posted by: LuNoTiCK
Well I've been looking for some car insurance for a 2003 Honda Accord LE. All the quotes are so expensive, Geico quoted me over $11,000 a year. The lowest I saw was like $7800. I'm a 19 year old male in NY. Anything I could do to make insurance cheaper, or anyone know any better companies? I can't afford to pay that much.

Edit: I was curious because if I ever do crash, can't they sue my parents instead of me? Another solution would be to get a car that will not cost as much for insurance, any suggestions?

My son is 17 and pays about $500 a year for straight liabilty on about a $5,000 value
truck and the truck is in his name and insured in his name too.

 

[jdini76]

I am not possitive, but if the car is in your name, you can't have the insurance under your parents name. So, if you want your car insurance under your parents name, then you will have to register it under their name as well.

Also, the reason for such high rates, is probably because the car isn;t paid off yet, and it needs full coverage for the finance company. if you get a car that you don't care about the body, you could just get liability insurance. of course this is all based on NJ car insurance. I don't know NY insurance laws.

 

[welst10]

11,000? lamo

 

[virtueixi]

Just add the car under your parent's policy, with you as a driver on it. Will save you money because they give multiple car discounts and they probably charge you less as a young driver overall.

 

[badmouse]

Check into getting an address at that upstate college, and getting insurance there.

 

[BD2003]

Originally posted by: jyates

Originally posted by: LuNoTiCK
Well I've been looking for some car insurance for a 2003 Honda Accord LE. All the quotes are so expensive, Geico quoted me over $11,000 a year. The lowest I saw was like $7800. I'm a 19 year old male in NY. Anything I could do to make insurance cheaper, or anyone know any better companies? I can't afford to pay that much.

Edit: I was curious because if I ever do crash, can't they sue my parents instead of me? Another solution would be to get a car that will not cost as much for insurance, any suggestions?

My son is 17 and pays about $500 a year for straight liabilty on about a $5,000 value
truck and the truck is in his name and insured in his name too.

Thats cause you live in arkansas. Theres nothing to hit.

11,000 is outrageous, but NYC is quite possibly the most insane place to drive. Im never going on a highway here if I can avoid it. If I had a dollar for everybody I knew that was lucky top walk out of an accident alive that wasnt even their fault...well I'd have about 5 dollars. But thats far too many dollars. Congestion + Small Roads + Idiot drivers = High insurance.

I'm assuming youre using an online quoter. For fun, try putting in your upstate zip code, and youll see a huge difference I'm sure.

 

[TheLonelyPhoenix]

Jesus, I thought my insurance was bad at $1200 a year for full coverage on a Mazda 3s. Bright red, under the name of a college student who's only had his license a couple years... you know, all the statistical anomalies that send up a flag to the insurance people.

At $11,000 a year, I'd be paying more than twice as much for insurance than I would for my car itself. It's NY man, this is why you have that elite public transportation system. if you insist on having a car while in the city, get a junker and only get liability insurance. To me, even that is more than its worth.