Thursday, March 28, 2013

At-Risk Individual

Here's the thing.

As I'm staring down the barrel of graduating college, I am looking towards the part of my future any red-blooded American male would think about: a new car. However, I've hit a bit of a snag. While I am getting some assistance with the car I will be paying the car insurance myself. And that's the problem. I am 23, have a speeding ticket on my record, and am looking at vehicles which might actually raise my pulse on occasion. All these things make me an "at-risk individual", and apparently make insurance companies cringe at the very though of insuring me for any less than the promise of my first born.

Let's think about this for a second and break it down. The biggest thing I have going against me is my age. Apparently as a 23 year old I do drugs all the time, drink and drive, and pilot my automobile in ways that would make Ken Block cringe. Except I don't. I've never done any of those things. I have a healthy dose of respect for my fellow drivers and would not want to subject them to that peril any more than I would want them to do the same to me. However, this does not seem to even be a possibility to insurance companies. Maybe it's just a punishment fee for not living up to their expectations of people my age.

I have a speeding ticket. I want to understand this one, but I don't. It's not a reckless driving ticket. I was simply traveling at a rate that was more than what they felt the average driver is safe traveling at on that particular stretch of road. I would consider myself an above average driver, and don't feel like this particular offense makes me at-risk or even a problematic vehicle operator. More than that, I don't remember my insurance paying my speeding ticket. If there is a factor that makes me pay more for my auto insurance, shouldn't it pay out for that same factor? Instead, I was the one footing the bill.

And third, the vehicle selection. I am a young automobile enthusiasts who would like a performance vehicle as their daily driver. However, that combined with my age seems to make the insurance company think I'm going to be using it to start my own Youtube channel or apply for Octane Academy. I'm totally gonna put NOS under the hood and some sick graphics on da frame. Except I'm not. I'm young, my job doesn't pay that well, and frankly, I have better things to spend my money on than having a stable of automobiles. This will be my daily driver and I can't afford to blow it up or do anything that might sideline it. However, that concept is also lost on them.

But there's hope! Apparently in two years when I'm 25, married, and the ticket has expired off my license all will be well! My insurance will drop right through the basement and I'll finally be able to afford it. But that raises a big question. How does that help me now?

And that, that's the thing.


  1. When I bought my first car and got my license (1986 thunderbird v6/ 16y/o) Insurance was $4500 per year on a $2000 car. Needless to say I never drove until the govt stepped in and reduced my premiums to about $2000 a year. I know that pain, but thankfully every year I see those premiums decrease. At 25 I am now paying just under $1000 a year. It is still a terrible sexist/ageist system, but its getting better :)

    1. If insurance can total a car for causing more damage than it's worth, it should never be able to charge more in a year than the car's worth.

  2. Look at older sports cars, their insurance premiums drop like a stone at 7-10 years of age. I just sold my Type-S and bought a 540i and my premium dropped a whopping $400/year. And I'm 43, married, no tickets and was paying $700/year for the Acura.

    1. Well, supposedly at 25 everything changes too. So in two years I can buy a Type-S or 2006 Si and pay next to nothing.