car insurance is the most discriminatory entity ever

[JHZR2]

I want to buy a new saab 9-3 because my old MB 300D turbodiesel was destroyed by an uninsured female driver of 20 years.

I am 23, male, no tickets, one very minor accident 3 years ago, for which my insurance rates never changed. The 96 MB on my policy is $412/yr, which is good for NJ. The saab???

$3700!!!!!!

Granted it has collision and comp with $1000 deductible...

Why? Because Im a youthful male.

OK, thanks, so charge me more because youre discriminating against me because of my sex and age.

Why is it that affirmative action, nondiscrimination practices, equal opportunity practices, etc. exist for most any 'underprivledged' group, and quotas and special considerations are always made for members of other groups, but anyplace in the country (NJ is just worse than most), this can happen and its just perfectly fine? I guess special consideration can be made for most anything but young males.

Fair and equal... riiiiight.

I guess because Im so 'privledged' and grew up in the male majority, and never had a hard time, and had every opportunity, that now I get to pay for it.

I am perfectly willing and expecting to pay my share of insurance. Having my car ruined by an uninsured motorist, Id never wish this annoyance on anyone. but why the heck should I have to pay nearly 10% of my salary, and 15% of the car's value because Im a young male? It doesnt matter that I drive at or anly slightly above the limit if conditions are correct, always drive carefully and courteously, and are a better driver than 95% of the idiots out there. Even the minor accident I was involved in three years ago apparently doesnt matter much, because $400/yr is quite untypical for someone my age in NJ. No, all that matters is that Im a young male driving a saab.

BAH!


JMH

[ August 12, 2004, 07:40 PM: Message edited by: JHZR2 ]

 

[ruking77]

Gee that is 11 years of full insurance coverage on my Z06 Corvette!!!

According to statistics you are right in the sweet spot of the "most likely to cause/be involved in an accident.

I think that 25 and married drops your rates dramatically?

The real clue for you would be to shop the vehicle/s that has the cheapest insurance coverage for your specifications. Since you had a good rate with the old MB, you might start there also.

 

[Whimsey]

NJ has the highest insurance rates in the country plus the highest property taxes, health insurance rates, business taxes, income taxes, cig/sin taxes and NUMBER 1 in NUMBER of LAWYERS per capita. And too many other #1's in sucking money out of our pockets. But hey most of the idiots in this state vote for the money sucking and income redistributing Democratic politicians. So I guess they get what they deserve. And the the rest of us poor Conservative ba*tards get scr*wed

.

If you are living outside of NJ a good part of the year I would SERIOUSLY look at legally establishing my residence there. Do you go to school or spend much time working in DE? Maybe you can get one of those "MailBox Etc" addresses or even a P.O. Box address.

I have NO idea how you got away with paying only $412/yr in NJ

! But it seems they caught up with you. But maybe you were on your parent's policy if you are in school now. You can try other insurance companies but not a lot of companies are writing auto insurance in NJ because of the lawyers and liberal judges and juries that award stupid judgements

! And most charge similar prices. In fact it's an achievemnet if you can EVEN get auto insurance in NJ at ANY cost. Ask what rating they are putting you in and why it's so much more expensive, understanding that collision and comp is greater because of a newer car. Have them tell you the numbers. My money is on that most of the premium is for liability.

Good luck, you're going to need it.

Whimsey

 

[Al]

Well..yes its totally unfair-to you as an individual. But the statistics make it a necessary evil. At your age you btch, but in another 10 years you will feel that's its a great idea. You're gonna' just have to pay your dues like the rest of us

 

[k1xv]

Most people get a lawyer and sue only after they are denied a fair settlement by a crappy insurance company that does not want to pay.

NJ has the highest density of cars per mile of roadway in the nation, and as a relatively affluent state, the value of the cars is high. The cost of health care is high, so the medical premiums are high.

And insurance has always been based on so called "actuarial" data, many of which make false characterizations about an individual because he is stereotyped as behaving similarly to members of a group.

Another thing is that NJ insurance premiums are very skewed where accidents and tickets are involved. If you have an absolutely clean record, your premium may actually be below cost, but have any tickets or accidents, and the rates go sky high. That way, they can blame you for being "an unsafe driver".

One of the few benefits of growing older is that premiums go down.

As a positive suggestion, is there any way you could qualify for NJ Manufacturers insurance? It is one of the more affordable companies. Also, you may want to consider moving out of NJ. Yes, the salaries are lower, but so is the cost of living.

Or maybe forget that new car and get another old MB turbodiesel?

 

[JohnnyO]

Pretty much all insurance is a rip-off. I own a small company with a virtually spotless (knock wood) injury record for 10 years and my worker's comp rate is 9.75% of payroll.

 

[W.T.McGlynn]

You were even hit by a 20 year old.
Which proves the point that you are in the Hi risk age group.
Suck it up,that's all you can do.

 

[Boeing 757 Pilot]

Some insurance companies also base your car insurance premiums on your credit rating; not to mention age, sex, location, traffic tickets, zip code, prior claims you had in the past....etc. It is quite possible to be dropped by your carrier if you have 3 'not at fault' accidents in a short period of time. Dont forget all the scumbags that commit insurance fraud each year....and we all end up paying the price cause the insurance companies never lose.

I was talking to a State Farm agent a few months ago, and he told me that his Agency got property claims for over $120 million after Hurricane Andrew in 1992!!!

And that was only his agency, not to mention all the other State Farm agents in south FL.

 

[dropitby]

Hey what did the 20 year old look like. As they say you met by accident.

OH well just trying to help ya out. Y dont U get you folks to buy the car for you if they would you pay the bills just till you reach 25 anyway.These are hard times you have to work together unless your rich that changes things.

 

[Boeing 757 Pilot]

Have you considered a used Saab with low miles??

 

[JustinH]

wow thats expensive, since when is a saab a sports car?

Have you tried geico?

 

[k1xv]

Geico pulled out of the NJ market in the 1970s.

 

[VTEC01EX]

Your insurance is that much of because of idiots like that kid in the thread at the top of the page caught recklessly operating. Mine too - Just turned 22, spotless record, good student discount - $2100 and change/yr. full coverage on a 2001 Civic EX. I guess I'd better total it soon - in a year I will have given them book value.

 

[rpn453]

Ouch. You could insure a new Saab 9-3 for CDN$1390 (approx. US$1050) here, no matter what your age or gender. Our government insurance company states:

quote:

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Another factor in your low rates is the Auto Fund’s philosophy that all drivers should be treated equally unless their driving records show they are a greater risk for causing a collision. That means we don’t use a drivers’ age, gender or where they live to determine a cost for their auto insurance.

---

 

[VTEC01EX]

That settles it. Better beer, abundant hockey, AND better insurance rates! Sign me up!

 

[k1xv]

I find the Sask. system admirable. But other than in Saskatoon or Moose Jaw, the roads are completely empty compared to NJ so even with no actuarial discrimination, rates will inevitably be higher in NJ where the population density exceeds that of mainland China.

 

[eljefino]

I think 15-20% of my premium (state required liability) is for the uninsured motorist coverage. This is the biggest rip of them all. The state says everyone should carry liabilty; they should warranty that their cops and DMV will keep the uninsured off the road. Warranty that by paying everyone's uninsured motorist premium. Then they'll get serious.

Either that or tell the insurance companies that if someone cancels/doesn't pay they are corporately responsible for collecting the license plates or impounding the vehicles. Invent a new class of bounty hunters.

Shoot, make space in another corner of the license plate where you put a sticker your INSURANCE company gives you that says when you expire if you don't pay any more money. Plenty of fixes if I ruled the world.

RE: New Jersey, it's true there's a lot of expensive vehicles on the roads there... if a car costs more than twice the median (say $45k) if it's totalled the amount paid under liability should be capped at $45k. The luxobarge owner would then have to pay the rest. It's like bringing china into a bullring; just doesn't belong there and the china owner should take some responsibility. Then those with normal, mortal cars would have more reasonable rates that don't worry about catastrophic damage to very expensive iron.

PS your governor should slash and burn the tort laws before he leaves office... whatever the lawyers DON'T want the most!

[ August 13, 2004, 07:53 AM: Message edited by: eljefino ]

 

[T-Keith]

Insurance is required by law in most states, but yet it goes almost unregulated. Anyone see a problem with this?

My Dad pays more for his '90 Reatta(which he hardly ever drives) then for his '98 Lesabre and '98 Chevy C1500 combined. Why? because it's a two-seater and therefore a "sports car".

-T

 

[parrothead]

I hate paying my insurance premium! As a single 36 year old male who hasn't had a ticket in 12 years, I pay about $1,200 a year for my 03 Passat. Michigan is a no fault state and I believe part of my rate pays for this.

 

[Al]

quote:

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Originally posted by T-Keith:
Insurance is required by law in most states, but yet it goes almost unregulated. Anyone see a problem with this?

-T

---

No - almost anything the government gets into gets screwed up worse.