Is car insurance really suppose to be this high priced?

by hirby

I am 16 years old and my parents want too buy me a Nissan 350z but the only problem is the insurance is ,200 every 6 months. I know im yound and its a sports car but is it really suppose to be that high priced? We have checked in many big car insurance companies but they all seem too be around at the same price for full comverage. Is there any company anyone knows of that isnt at such an outrageous price? & is this normal that its so high?

It’s not that high, if you carry liability ONLY. But that means, you need to pay cash for the car.

Yes, if a 16 year old needs full coverage on a car that’s worth more than $5,000, it’s not unreasonable to expect to pay $6,000 a year for it.

If you look at the premium breakdown, the COLLISION coverage, only the collision, is more than HALF of that. Drop the collision, cut the cost in half. Or more.

Yes , that’s normal. Being a sports car does not help at all, it only makes the price go even higher up. The year of the car,Brand and even color come into consideration. I suggest staying with well known companies because I’ve known many people having issues with the smaller cheaper ones. They tend to be a pain in the butt for claims.

Insurance premiums are based on risk. The highest driving risk out there is a male, under the age of 18. Insurance statistics state there is a 100% chance this driver will have an accident in the first two years he is insured.

The second highest ranking risk is the type of vehicle that is insured. Couple a Nissan 350z with a male driver under the age of 18 and BAM! Every insurance company knows what’s going to happen when an inexperienced driver gets behind the wheel of a powerful engine.

Now, here are a few things that lower those statistics, therefore, lowering the risk and the rate. First: What is your grade point average? If it is a B avg or above, most companies grant a good student discount. Second: Have you taken drivers education training? If so, most companies will give you another significant discount for proof of this. Third: What is your current driving record? Tickets/Accidents? If none, somewhat helpful. If any, well, you can imagine how much the risk and the rate rises.

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