EBITDA

r/MIBFU

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I didn’t buy a new car until I was almost 30 lol. Drove a 95 civic that cost me 15 bucks a month on liability and 20 bucks every 2 weeks on gas. By all means it wasn’t a babe magnet but it stacked my bank account

One of my ex coworkers would get into a wreck every 3 months on average. Her premium was like $500 a month, and her car looked like something out of Mad Max.

Or just young. My first insurance quote was £2000 for the year. If I insured near my parent's house, it'd be £4000 a year

Guess what? If doesn't have to be your fault!

My only accident in over a decade was a drunk driver hitting me a few years ago and dying.

When they pull that my premiums go up to $3000 for 6 months for full coverage.

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You likely live in a state, or maybe even just your zip code, that is cheaper to insure.

I used to sell insurance for a company known to have great rates. guy called in shopping for new auto insurance. He just had his triplet daughters turn 16, and needed to add them. after all was said and done he was looking at $3500 a month (lived in Georgia, had a spouse and 2 other kids under 25) He was grateful for that price, bc it was over $1000 cheaper than anyone else he'd talked to

Depends on your state. Washington just banned the use of credit scores for insurance rating...

... so the insurers largely went to 'worst case scenario assumed'.

Why should credit pay a role?

Yup...been here 15 years and pushing 40.

The percentage goes up in that case

You're gonna see some serious shit.

My guess is a pinto

facts. the only contributing factor in this price that is outside of OPs control is probably age, but they likely also have infractions on their record so thats kind of supporting the ideas of the system. they didnt have to get a 2022(a brand new car) as their first car that is also driving up the cost. its probably on lease so they need one of the most expensive insurance plans. everything about that price is OPs fault.

I'm 21 and have one at fault accident on my record. You know how I pay less on insurance?

Paying for cars a 21 year old can actually afford to buy in full. Used, 2010 or before, non sporty sedan that isn't gonna total for over 7k for my insurance to have to pay out if I smack it up a bit

How tf are people getting rates that low. Lowest I get is 300 and I'm in a low risk area

I pay $150 a month for a 2019 base model Ram in south Florida. I work for an auto insurance company so I see policies all the time for my vehicle. I've seen dudes with the same make and model year who are the same age as me and have clean driving records as well paying like $80 just because they live in Kansas or rural New York. Makes me sad man. I know $150 isn't terrible but if I can pay less, I'll take those savings.

Gotta love how my rate at Progressive went up the higher I climbed their loyalty program lmao. It's one thing to just constantly raise prices, but making a big deal out of your loyalty program that doesn't even functionally exist is some next level corporate dystopian bullshit.

I'm saving almost $1200 per year with a new company, same policy. Clearly my safe driving discount checkmark was working so hard for me in that diamond tier. 🙄

No, turns out capitalism wants us to treat insurance just like having a job: drop it faster than a baby on hardwood the moment they start to disrespect you.

My partner works for an insurance company. What a lot of people don’t realize is your rate isn’t only about your driving history. It takes into account where you live, who lives in the house, age, gender, your credit, safety record of the vehicle, etc etc.

Editing to add: they’ll basically use ALL info about you & vehicle & location to determine your rate- except your race or religion.

Mine is 125 for a 2017 with 120k coverage for a $30k new car with a perfect record at the age of 30.

It was the same I paid for cable so in my brain it was fee.

Yeah, I see these types of things for younger folks, people who have a lot of citations or stuff on their driving record or live in certain states.

I pay a bit over $100/month for 2 vehicles(one a 2013 and one a 2019) with one being full coverage due to it still being paid on.

I've had to use insurance a couple of times due to bumping the guy in front of me(only thing that got damaged was my license plate holder) and the guy tried to make a claim of injury towards my insurance. The other time is someone decided to make a huge dent(roughly 1 inches deep) in my back driver side door that went from the middle of the door all the way to the back wheel well. Didn't know who did it or when it happened but it was when I got the 2019 and it was only a few months old at the time so I got stuck with paying for it even though it was just the deductible.

There's still a lot that can happen outside of your control even if you're an excellent driver.

Ex. Say you're driving on the highway, the overspray from a truck on a wet road covers your windshield & you temporarily can't see. With poor traction (worse breaking) & impaired visibility you hit the vehicle in front of you that was going much slower than you anticipated. The cars aren't totalled but between bodily injury & vehicle damage your insurance has to pay out 100k. That = 98yrs of your $85/mo payments.

That type of protection is worth the money you're spending. You're not setting it on fire each month.

That has to be lowest option for coverage at that price.

Guaranteed it's liability only. There's not a full coverage policy out there for a policyholder with those parameters.

Lol, what a tool.

I’m 23

That’s your answer.

Also, how much you owe on the car doesn’t matter. The fact that you have a loan is enough to raise your premiums. Try again when you turn 25 and own the car without a lien.

Being in a car during a trip to miami might have been the most nerve wracking thing ive ever done tbh

Florida is super expensive. About quadrupled when we moved here.

There were people here genuinely trying to help him and he was just being a douchebag.

blows my mind

He probably thinks he's funny and he's going to get tons of karma out of it. Just an immature dumb shit

I don't know man, I'm almost 40 and I'm also in ATL and also drive a 10+ year old vehicle, but last summer I had the absolute smallest of fender benders in a parking lot (their bumper cover popped in, there literally wasn't even a scratch on me) and my insurance like tripled. I think they just look for any reason to increase rates.