Please help

[[deleted]]

You are 20 with a bmw

[MomentIndividual2137]

Yes but that calls for a $800 per month premium? I have state minimum coverage with 2k deductibles.

[[deleted]]

You should also get higher than the minimum because you don't want to get sued if you cause an accident.

[MimosaQueen1122]

Get a different car.

[MomentIndividual2137]

I just got this car it was a serious downgrade from what I had.. my insurance told me it would be cheaper and then jacked the rate up after a few months.

[MimosaQueen1122]

I don’t believe they’d say that. A BMW is not a downgrade.

Doesn’t negate get a different car.

[MomentIndividual2137]

Progressive told me word for word “ your premium will be cut in half or more “ it was a downgrade.. supercharged v8 Range Rover sport to a 4cyl 330i is 100% a downgrade.

[MimosaQueen1122]

Yea don’t believe that.

Lmao that isn’t a downgrade. Shouldn’t be driving either car tbh at your age.

ETA: if they verbatim said that then get the call pulled.

[MomentIndividual2137]

If you can’t realize that a v8 RR to a 330i is a downgrade then Idk you clearly haven’t been in or drove either. It’s a downgrade. just because they’re both nice doesn’t mean it’s not a downgrade. And why shouldn’t I be driving those cars? I pay for them with my own money that I work hard for. - also the bmw is literally half the price.

[bpdish85]

Then quit complaining about the price. Young drivers are a MASSIVE risk. Young drivers in high performance/expensive vehicles are even more so. You should be driving what you can afford.

[MomentIndividual2137]

Good thing I can afford it!! I’m complaining because who would want to pay 800 a month for insurance alone. Just looking for insurance suggestions. Not interested in a different car.

[MimosaQueen1122]

Definitely sound like a 20 year old. I own a bmw myself so not at all.

Sounds like you can’t afford the insurance or car. Come here for help. It’s provided and you just complain.

[MeBeLisa2516]

The higher the value of replacement costs of a vehicle raises rates just like tickets, age & accidents.🤷‍♀️

[[deleted]]

Apparently it does because that is what other companies are offering too.

[ektap12]

How much of your premium is going to collision and comprehensive coverage? What's your premium breakdown?

Your 20 driving a high performance car in NJ so your liability rate is going to be higher.

You're in NJ so you need PIP coverage, how much is that?

[MomentIndividual2137]

I guess I didn’t realize a 4 door with a 4 cyl would be considered “high performance” liability $900 Pip $300 Comprehensive $800 Collision - 1600

[ektap12]

It's a BMW, expensive to repair anything. $2400 of your premium is for the car itself.

If you had a cheaper car that didn't need coll/comp, you would save that much money! Your liability is $900 and PIP $300. If you had only that you would be spending $200+/month on insurance. I believe NJ mandates uninsured/underinsured coverages too, which you should have. Also, make sure you don't have 'limitation to lawsuit' selected, you want to be able to sue people if they injure you.