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Insurance help for a young guy

Discussion in 'Members' Lounge' started by blackdahlia6, Apr 1, 2010.

  1. blackdahlia6

    blackdahlia6 New Member

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    i called progressive today because i have to get insurance in my name within 4 weeks from now. they mailed me and said to start a policy it was 450...on the phone i was told it was 450 to start a policy and that my insurance per month would be 270 a month. does this mean that i pay 450 and im covered for 2 months without any other charges or is the 450 a down payment and then i have to pay 270 monthly after that initial 450?

    my second part is this...i need my car to get to school and my college class. i have 2 months left of school and my current income and savings only allows me to pay that 450 to get insurance with progressive and get that 2 months of insurance. (if thats even how it works) my current income will not give me enough money to pay my higher rates of 270 for insurance a month past that 2 month mark. if i can get insurance in my name for 2 months (with the money i have now in savings) and i graduate in less than 2 months, after the 2 month mark of being with the insurance company can i drop the full coverage on my car, sell my car and get the liability insurance thats required to even have a license without having a car?

    im basically just trying to insure my car until i graduate and then sell my car, drop my full coverage (full coverage required because im financing the car), and then get liability which is required by law to have a license.

    tell me this will work...:(
     
  2. B16

    B16 Super Moderator VIP

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    Sounds like questions for your insurance company. Shop around.
     
  3. blackdahlia6

    blackdahlia6 New Member

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    im pretty sure that 450 is for 2 months of insurance. but im just wondering if when you join an insurance company do you have to stay for an agreed amount of time at signing? like 6 months? or what?
     
  4. Briansol

    Briansol Admins Admin VIP

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    most ins is 6-month or 12-month 'contracts'. you can usually end early with no penalties though.

    I'd suggest calling a local agent/broker. they can get insurance from 10+ companies and find you the best deal.
     
  5. blackdahlia6

    blackdahlia6 New Member

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    im thinking the insurance companies might not care if i do 2 months of full coverage and then if i say "well im selling my car can i just get liability now" and pay the cheaper 150 liability that i can afford and just not have a car
     
  6. Briansol

    Briansol Admins Admin VIP

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    you don't insue yourself.... you insure the car. if you sell your car, you don't need auto insurance.

    but if you're driving a family members' car, you should be on their household policy.
     
  7. Taco15

    Taco15 I wear stretchy pants VIP

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    dont get progressive. shopa around.

    they have screwed me twice and had rediculous prices....

    shop around
     
  8. reckedracing

    reckedracing TTIWWOP VIP

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    call locals agents
    that 450 is for the first month only
    then its 270 the next month, and the next one
    and usually you dont pay the last month of your policy

    geico is cheaper for me than progressive
    but call your local agents and see who gives you the best price for just that 2 month period
    don tell them up front how much money you have and that you want to cancel in 2 months
     
  9. 95b16coupe

    95b16coupe New Member

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    call a broker. where do you live? you should be able to find one that will do the research for you.

    also, why would you need insurance just to have a license? some policies will cover you and any car you drive, it will just be a little more spendy.

    if cash is tight, sell it all and get a moped/scooter. don't need insurance or a motorcycle endorsement.
     
  10. Drake

    Drake Well-Known Member VIP

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    Most states have CC limits as to weather or not you need an endorsement. Washington state is 50 or 55cc's for example. But thay is a good suggestion.
     
  11. jeffie7

    jeffie7 Wrong Whole! VIP

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    FALSE!

    You cannot drive/ride any motorized vehicle on a public road without tags and insurance.

    Just because you see it all the time doesn't mean you can. At any point they can impound the scooter, or top of that if you happen to cause a crash, you will be 100% liable for covering any damage.

    If you want to save money on insurance, buy a cheap car you can pay in full. By doing this you will only need liability coverage and that is much much cheaper then full coverage.

    If you owe money to a bank for your car, you must have full coverage, that's where it gets pricey.
     
  12. reckedracing

    reckedracing TTIWWOP VIP

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    risky option - you can always get a personal loan to pay off the bank loan.
    then you can drop full coverage, but something happens to the car you will still be responsible for the loan
     
  13. 95b16coupe

    95b16coupe New Member

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    no, sorta false. florida and washington state do not require insurance.

    but again, insurance on a moped or scooter should be a lot cheaper than full coverage on a car. scooters may require motorcycle endorsement, most states do not require it for mopeds.
     
  14. invisibledemon

    invisibledemon Bored Moderator VIP

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    some states require you to have insurance regardless of whether or not you have a car. as long as you hold a license, you have to have insurance. when i lived in fl, to get my license changed to fl, they told me i had to have fl insurance first, and that while i had a fl license, i couldnt go more than 3 months without insurance or it would be suspended. apparently the insurance companies notify the state when your policy expires or isnt paid.
    if you have no car, they require a non-owners policy.

    once again, depends upon the state.
    in tn, if its UNDER 50cc, you dont have to have a motorcycle endorsement, but you do have to have insurance and registration.
    in fl, you dont have to have insurance on any bike, but over 49cc you have to have the endorsement. and its highly recommended to have insurance, fl drivers are all old and wont think twice about hitting you.
     
  15. Bob Vila

    Bob Vila ɐןıʌ qoq Admin VIP

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    Cancelling an insurance policy before the term date will most likely result in a short rate cancellation - meaning the ins. company will keep a % of the refund.

    Short-rate Cancellation
     
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