We get a lot of requests on how to find cheap car insurance, and almost equally as many questions related to finding cheaper car insurance for males - particularly young, single males.
Instead of just going on and on about why it's so difficult to find inexpensive car insurance when you're a younger guy, we set out to find the best rates for a hypothetical situation (i. e. the young male) and show you not only how we did it - but where you can too.
In order to get a good candidate, yet, not the bottom of the high risk barrel we used a few of the key factors that insurance companies use to assess risk and came up with a less than ideal, but not the most high risk male.
The Car Insurance Quote Process
First, we need a place online to get a few free insurance quotes that's not only quick, but competitive. Our personal favorite is Quoteserv. Now that we've found our place to get car insurance insurance quotes from a few different insurance companies, it's time to start filling out the application.
- Male: 24
Marital Status: Single
Location: (Manhattan) New York City, New York (yes, we know this is an expensive city to live, drive and insure a vehicle in)
Date of Birth: 6/23/83
- Vehicle: 2006 Audi A4 2.0T Quattro
Rent or Own: Rent
Vehicle Primary Use: To and From Work
Vehicle Ownership: Leased
Annual Mileage: 12,000
Highest Level of Education: Associates
Occupation: Real Estate Sales
Years With Current Employer: 2
First Licensed: 16
- Total Number of Drivers In Household: 2
Number of Claims of Accidents in the last 5 years: 0
Number of Violations in last 7 years: 2 (both violations were speeding tickets 6 - 9 mph over the limit occurring within 1 year of each other)
Has your license been revoked in the last 5 years: NO
Had to file SR-22: NO
- Have you completed an approved accident prevention, driver improvement or defensive driving course in the last 3 years: No
- Current Coverage Info: This driver has been with the same insurance company for about 2 years, and has been continuously insured for over 5 years, or more specifically since he was 16.
- Desired Insurance Coverage
Bodily Injury: $100,000/300,000 w/Uninsured $25,000/$50,000
Personal Injury Protection (PIP): $0 deductible
Comprehensive Coverage: $500 deductible
Collision Coverage: $500 deductible
No extra options including towing, rental or roadside assistance.
Drumroll. . . ok, let's stop the drum. These rates are very expensive, but keep in mind that the rates given are competitive quotes for a high risk driver residing in an extremely densely populated area in one of the largest metropolitan cities in the U. S. With that being said, on to the rates in order of lowest to highest.
- Unitrin Direct: $2,009.00/6 month premium or $334.83/mo
- AIG Auto Insurance: $2,374.37/6 month premium or $395.73/mo
- Liberty Mutual: $6,284.00/6 month premium or $523.67/mo
- The Hartford: $3,839.00/6 month premium or $639.83/mo
Ok, so we didn't exactly find rock bottom car insurance rates for a single guy with 2 speeding tickets renting an apartment with an expensive vehicle in Manhattan, but, we didn't want to make this an example of an ideal low risk driver in a low risk city. In all likelihood you will see rates of about 1/3 of these. The best thing you can do is get as many quotes as possible, and companies like Quoteserv make it very easy to get competitive car insurance quotes quickly online.
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