So I've had my 07 GT for 6 months now, and it's time to go through my first insurance renewal on the new car. I was paying $1500 a year (24 years old, single, clean record) for the car through Esurance, and I get my renewal notice in the mail, expecting it to stay the same. The renewal notice indicates my new rate will be $2500 a year, with no reason cited for the increase (no tickets/claims/accidents or change in coverage/policy). I called them up and they're doing a rate re-evaluation, but I can't imagine why the heck the insurance would go up so much, any insights?

Also, anyone got any insurance company recommendations for socal? I did a quote with state farm, but it was just as high, ~$2600 a year.

 

Some insurance companies give you a good rate the first year, then jack you at renewal time. Probably a lot of people just go ahead and pay it.

Try AIG. I've had them for several years now, and have never been jacked at renewal time. In fact, last year they threw in road service for free, and it used to be something you had to pay for.

 

Typical scam. I've seen it before, as long as people keeping paying the increase they will do this.
Try looking at all the companies. See who can give you secure coverage cheaply. Talk to people in your area about who gives the least trouble on claims. Then chose.

 

Wow man, that's definitely high. I'm with State Farm and I pay about $1,175 every 6 months for 2 Mustangs (03 v6 and 06 v6). I definitely say do some shopping around and if you can get down to the reason for the spike in prices, I mean there's got to be a reason they aren't (possibly) telling you.

That's just too high on one car...but then again when I had my '03 Cavalier and was looking into Geico for insurance they estimated I would be paying $3,000 every six months so go figure.

 

I have a question, what were you driving before, and did it have four doors. The Mustang is a sport car, and you are under 25 in So. Cal. I would look around as the others have suggested but I think you are not going to find much of a difference.


BTW I have, AAA and I pay about 1G for the Stang but I'm 48, married, with three kids.

 

Check with 21st Century or Mercury, they have the lowest rates.

The myth of "you turn 25 and get lower rates" simply doesn't exist anymore. You get an "experience rating" based upon how many years you have held a drivers license, any tickets or accidents, legal problems like DUI, etc and that affects your rate.

Good luck with your search!!

 

I don't get it your mustangs are so cheap over there but your insurance is so dear ?

My car is insured for $130,000 AUS but only cost's $1200 to insure per year.

Go figure !!!!!

 

It's not right, but insurance companies today use your credit rating to help determine their rates. You might run a credit check and see how you stack up there. I'd still do some shopping around, though. You can get online quotes from most insurance companies.