If you live in the greater Cincinnati area, it’s always a good idea to find out what your car insurance will cost you before you buy your shiny new car verses after you buy it.
You may get a serious attack of sticker shock when you get your insurance bill. The rate difference for car insurance in Cincinnati between a Minivan and a Mini Cooper can be substantial.
It’s even worse when you have a teenage driver in your household. Add a sports car to your policy with a teen driver and watch your Cincinnati car insurance premiums hit the stratosphere! Good for your agent, bad for you.
Tip - As a general rule of thumb, unless you have plenty of cash to flush down the toilet on high insurance premiums, avoid any type of sports car when you have teenage drivers in the household, or you have a bad driving record. Depending on what kind of sports car you buy you could get dropped altogether or your premiums may jump more than three hundred percent because your company views you as a high risk driver if you buy the wrong car.
In addition, some car insurance companies in Cincinnati will rate the youngest teen driver in your household on the highest rated car. So if you own a Porsche 911 Targa 4 that will go up to one hundred and seventy seven miles per hour and retails for about ninety thousand dollars, hold on to your seats for massive premium increases because your sixteen year old teenage son may be the one rated on that car!
For teen drivers keep in mind this rule. If you buy an older four door sedan with a four cylinder engine (not turbo charged) that only needs liability coverage, this will help you keep low cost car insurance rates. Or if there are three drivers in the household and only two cars, one driver could be rated as an occasional driver, helping to lower your car insurance rates.
Avoid the temptation to buy a 4X4 truck or jeep for your teenage driver as these vehicles carry much higher premiums due to the higher risk of accidents and claims.
Further information can be found on our blog showing a specific strategy known as the driver’s exclusion clause, which some insurance companies allow, that may save you a fortune on high car insurance premiums in Cincinnati when your teenage son or daughter has multiple tickets or accidents.
Why Make Fat Cat Insurance Executives Rich By Overpaying On Your Insurance When You Bought A Sports Car?
Click here if you want to save hundreds, and possibly thousands of dollars from insurance companies who are begging to insure Hummers, Land Cruisers, Aston Martins, Bentley’s and any sport car with or without teenage drivers on your policy.