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Originally Posted by SoCal Racer
Sorry....I have found a couple of insurance questions on the forum, but unfortunately it did not really answer what I was looking for, so I will give this a try...
I currently have State Farm and for some reason my quote on the ZL1 feels a little excessive considering I have a clean record/history. So I wanted to ask what insurance companies people are using (for any sports car)? and also how many miles does your company allow annually? For example, mine allows me 7500 miles annually. If I drive 10K, my monthly payment increases +$75.
I understand insurance questions are tricky because everyone's situations are different, but with the car in transit, I could really use some options. Thanks.
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I'm gonna throw my knowledge in here. Yes everyone's situation is different but in today's world, insurance companies use a lot more than just driving records for premium numbers. I've been with progressive since 2009. I had one slight fender bender back in 2009 which caused a $1500 claim. Been accident free and ticket free ever since. However, after the 3 year period where the incident came off my record, every renewal policy has increased a few dollars each month.
After the incident came off, I was at $109/mo for full coverage on my truck. Currently I'm at $133/mo. I've added glass coverage so I knew that would be a small increase but why would it keep going on the others. After calling in and asking, they stated that I'm technically paying for everyone else's accidents. What that means is that if they pay out more in insurance claims than they take in with premiums, their policy holders premiums increase.
On top of that, your marriage status, completed education, credit score, age, being male or female and some other irrelevant factors come into play as well. Apparently being married allows a lower premium along with someone with a college degree. Don't know how that relates to someones driving abilities.