Before I officially ask the question, here are some details:
It’s my parents insurance (Triple-A), and my name is listed under a 2013 Hyundai. I am 19 and to help pay for insurance, I transfer $300 to my dad’s bank account every month. I’ve frequently asked him why it is so much and he tells it’s because I am a new driver, the car is new, Triple-A is a very expensive insurance company, and I am also under the age of 21. But, every single person I tell this to gets extremely shocked and tells me I’m being ripped off–that insurance should never be that high, even for Triple-A. They tell me to look into it because my dad is probably cheating me. I don’t want to think that because I trust him but I am losing a lot of money paying him each month and it’s a real struggle (especially since the only thing I don’t pay for is the tuition for my Uni).
Everyone tells me that that’s too much, that the most I should be paying for would be $200. I don’t like thinking that my dad would do this to me, but I won’t hesitate to confront him if it’s true. I’d look into it myself, but I honestly know nothing when it comes to insurance, business, or cars…hopefully someone can give me a straight answer?
And if it’s true–that my dad is taking advantage of my ignorance and overcharging me–then please tell me. I’d rather know now and demand my money back than keep paying him. And if it’s not true, then it’ll be a huge relief and I can talk to him about maybe getting cheaper insurance.
Give up the car, take public transportation and save a lot of money.
it sounds like someone is ripping you off. if you are a full time student, your rate should be lower. Try to get other quotes. However, if you have had tickets or misdemeanors, or have bad credit, then that would be a reason as to why the rate is $300 a month, unless Dad is insisting on some help for maintenance/oil/gas/repairs.
The price of insurance is different in every place. It’s not at all normal to pay what you would pay if you lived somewhere else. Depending on where you live, the normal amount could be over $1000 a month.
No one could possibly know what you should be paying if they don’t know where you live. What they are probably telling you is what you would be paying if you lived where they live. They just don’t realize that you live where insurance costs more.
I pay $108 for two vehicle and one of them is for full coverage, but I am 66, so that’s why maybe I pay less. $300 is too much unless you have too many tickets.
Yes that sounds like a reasonable amount for a new driver with a policy that includes comp, collision and liability.
Call Triple A & ask them. Just like you asked here. They can look it up easily. Personally I think that is way too high unless you’ve got a bad driving record.
it’s a new car being financed and you’re only 19 yrs old – and your zip also affect the cost – if you think you’re being ripped off – call another insur comp or 3 and get a quote for full coverage being on your own policy
Your premium is right in line…
Why not ask for a copy of the policy and you can add up the charges for your vehicle?
I think he’s probably telling you the truth. 16 – 25 is the most expensive age group b/c they have the most accidents. And insurance IS higher with newer cars.
$300 is about half of what you’d pay, if you were on your own policy. “Every single person” you talk to, is out of touch with reality. Maybe their parents are paying more of their cost, maybe they don’t have “full coverage”, maybe they’re uninsured.
$300 per month for a 19yo driving a 2013 vehicle is cheap. The question is how much do you pay towards to use of the vehicle! The maintenance, upkeep and repayments are as much your responsibility as theirs.