5 Responses for "is there a way to decrease my Car insurance coverage?"

1. selena gomez February 4th, 2010 at 3:31 am 1

   Because your car is financed, the lender rightfully requires comprehensive and collision coverages. If you didn't have the note, i.e., you paid cash for the car, it would be a non-issue.You also have two other strikes against you; your age, for one. Statistically, drivers in the 17-25 bracket have the worst accident rate, and their premiums reflect this.You also admit to having a less-than-exemplary driving record. Because of this, your insurance carrier considers you a high(er) risk, so they will price accordingly.Let's not forget the very car you chose to buy; being a luxury make, its repairs arising from a collision will be inherently more expensive than, say, a later-model car, perhaps a Ford, Chevy, or Toyota, to name three examples. (The big question is, WHY did you choose the Jag instead of one of the three examples I cited?)

2. lady gaga February 4th, 2010 at 3:31 am 2

   If you are 21 and "don't have the best driving record", then you should not have bought a Jaguar.The government only requires liability coverage.However, the finance company or other lender probably requires full coverage and will not allow you to decrease it.After you completely pay off the car loan, you can decrease the collision and comprehensive coverages, if you wish.You can only put the car under your parent's coverage if you are a resident of the same household. Additionally, adding a car driven by someone who is 21 and has a poor driving record, especially a Jaguar, will increase the cost of their coverage. They may not be willing to do this at their own expense and might refuse or at least require you to pay the difference.

3. selena gomez February 4th, 2010 at 3:31 am 3

   First off, you need to check the state minimum requirements for insurance. (for instance, Florida requires that you have PIP and PD only). However, if you are still paying on a loan on the car, then your leinholder will require you to carry "full coverage", which includes collision and comprehensive coverage. So if you have to carry full coverage,the only way to reduce your rate would be to carry high deductibles. Shop around with other insurance companies for the best price. Source(s): worked for an insurance company for 8 years

4. selena gomez February 4th, 2010 at 3:31 am 4

   What do you mean by "can i just put the car in under there coverage" Who is they? The lender? You don't want to do that, forced coverage is very expensive and only protects the lender's interest.

5. justin bieber February 4th, 2010 at 3:31 am 5

   Wow, its incredible that your insurance payment is the double than your car payment, you can try with only liability and also get quotes from different companies so you can find a good price, try it hereginsurance.notlong.com