Zerotide

iTrader: (1)

Ok, so my family is looking to add another car to the family fleet and I was wondering if I should expect a massive increase if we add an RX-8 to our policy with my dad as the primary driver.

I am 18 (yes I know I will probably get looked down upon for that here) with a clean driving record and good student discount. My current car is a 2002 Audi A6 4.2L, but since I am in college it doesn't work out for me to have this car here all the time. (My dad likes to have it home so he doesn't have to drive his truck during the weekends). So he told me to start looking for a car under $15k. Now I found a few 2004 RX-8s I really like. (I have always been enamored with its surgeon's knife precise handling and stunning looks). This car doesn't have a massive amount of power (in fact I'm fairly certain the Audi I drive would easily outpace it) but I know thats not all that matters to insurers.

So sorry if I digress... my question is simple. Should we expect a huge increase in the price of our policy?

Razz1

You will get a good price but...........................

Always expect to be screwed by the insurance company.

Zerotide

iTrader: (1)

Well I guess what I'm asking is, is the RX-8 realllyyy bad on insurance. I mean my insurance company does rate it as a 4D so that often helps but would the insurance prices make it not worth it for a policy with an 18 year old on it.

KCMORX8

I got my 8 when I was 22 and insurance started at $240/month with perfect record, good payer discount, multi-policy discount, and good student discount. I am now 23 and I pay $200/month. Also at 22 I had $1k deduct and now I have $500.

EdwardsB

We did the same as what you mentioned you are planning on doing, that is having the parent as the primary driver. It actually worked out to the same price as a used 2005 Subaru legacy gt and was cheaper than a 2007 impreza. I alslo have a clean record and get the good student discount.

Fierdon

Just to give you an insight.. I'm 23 (trying to find an RX-8 right now) and a 2005 RX-8 will only cost me $52 more per month than my 2006 Ford Ranger Sport. This is with a wreck on my record (totaled my 2003 MR2 Spyder in April 2007).

Zerotide

iTrader: (1)

Thanks to everyone for the input. Doesn't sound like the RX-8 is rated as a very high risk car.

Razz1

It's not.

hry_glb

How old are you now? Sorry if it's inappropriate, I'm looking for an insurance and even the basic one cost me around $290/mo

Fierdon

I'm 23, and I have a wreck on my record from when I totaled my MR2 Spyder, I have the next-to-highest insurance coverage that Allstate has.. And I would pay about $335/mo for insurance on an 2005 RX-8.. This is with Accident Forgiveness, Towing, rental, roadside assistance and of course.. Full Coverage..

May seem a bit high, but where I live the people are retarded when they drive.. I drive a BRIGHT YELLOW Ford Ranger Sport and someone still somehow managed to run a light 'not seeing me' and hit me..

But, back on topic.. The RX-8 isn't considered quite as high-risk as someone would think..

hry_glb

Oh lol, I didn't see you put your age there. thx

Zerotide

iTrader: (1)

Yeah insurance ratings can be really screwy. My previous car was a Volvo S40 1.9t with the sports appearance package and a meager 178hp. Unfortunately this car was basically worthless in the snow for some reason. (I know, an Rx-8 will be too but thats why we got a car with AWD). Plus I live on a college campus now so it's not neccessary that I have a car that can get around in the snow. Anyway, we though the insurance on an Audi with a 4.2L V-8 would make insurance skyrocket, I mean Audis do cost a TON to repair and this one is quite fast. In reality our rates went down $10 a month when we traded in the Volvo for the A6. Go figure.

Mendossa

I see a lot of young people doing this, putting their parent as the primary driver so the insurance cost is much lower and I'm always puzzled.

You do know that if you need to claim a serious amount, like after totalling the car or it getting stolen, the insurer will most probably do a little investigation on the policy just to make sure. And if they learn that you drove the car everyday and your dad was only on the papers so that you'd pay less and actually wasn't the primary driver at all, they will give you exactly 0$ and you'll probably end up on a "black list" making it almost impossible to get insured elsewhere.

I've seen people getting caught because an insurance investigator pretending to be someone else simply called at work or at home and thru a few question established that the person was taking the car everyday to work and his coworkers/family refered to the car as being "his car". They don't even need to get very solid evidence... they've got the money and they can sit on it for a long time while you contest in court. If that can get them out of shelling 20 000$, you can be sure they'll do it.

Now... back to your question... when I shopped around before getting the 8, I looked at 350Z, Boxster, C6, Mustang, Camaro... the 8 was the cheapest of all to insure. Compared to a 4.2L A6 I don't think it'll be much more expensive to insure, especially if it's under your dad's name.

PBlue

iTrader: (1)

I have full coverage, deducts at 500 comprehensive and 1000 collision, and double the state minimums, all the uninsured coverages and all that crap, I am 22 and have 1 or 2 speeding tickets on record and im at 104/month. And its my policy, no parents or cosigners.