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Rubin187 · Oct 21, 2009, 10:07 AM

I am an 18 year old turning 19, and would like to lease a car. I am unable to put it on my mom or dads name so that's out of the question. I also live in NYC and know that the insurance rates will be really high. What are my best actions in order to get the cheapest insurance possible on my name?

nikosmom · Oct 21, 2009, 11:04 AM

My best suggestion would be to not lease/finance a car; buy one in cash if possible. Sure, it'd mean getting something cheaper and probably not as nice but then you can choose to forego optional coverages. This will save you money not only on the insurance but also on the finance charges until you are a more established driver.

If your parents won't add you to their policy then you're missing out on huge discounts their company may offer (for example if they have both their home and autos with the same company or if they have more than 1 car on the same policy). Are they willing to make a deal if you pay them for your portion?

If not, I think you should look into an older model car with no lien. Check with an independent agent in your area that can help you shop around for different companies that can give you a decent rate.

artlady · Oct 21, 2009, 11:21 AM

Progressive Insurance will look for the cheapest rate for you.
Auto Insurance Quote: Car & Motorcycle Insurance - Progressive

nikosmom · Oct 21, 2009, 11:55 AM

Originally Posted by artlady

Progressive Insurance will look for the cheapest rate for you.
Auto Insurance Quote: Car & Motorcycle Insurance - Progressive

Beware of this because often Progressive mis-quotes other companies to their favor. There are many complaints out there about this. I think it's best to do the legwork yourself to get the info straight from the horse's mouth. Plus, you can be absolutely sure you're comparing apples to apples.

artlady · Oct 21, 2009, 11:59 AM

Originally Posted by nikosmom

Beware of this because often Progressive mis-quotes other companies to their favor. There are many complaints out there about this. I think it's best to do the legwork yourself to get the info straight from the horse's mouth. Plus, you can be absolutely sure you're comparing apples to apples.

Oops! Good to know.Both my sons have used them and were happy and I thought they knew what they were doing! Thought wrong,thanks for the info!

nikosmom · Oct 21, 2009, 12:25 PM

Originally Posted by artlady

Oops! Good to know.Both my sons have used them and were happy and I thought they knew what they were doing! Thought wrong,thanks for the info!

No problem 'Lady, just sometimes when you're shopping, best to do the work yourself or have an impartial independent agent check things out. That way you can get the numbers unbiased. :)

artlady · Oct 21, 2009, 12:31 PM

Originally Posted by nikosmom

No problem 'Lady, just sometimes when you're shopping, best to do the work yourself or have an impartial independent agent check things out. That way you can get the numbers unbiased. :)

I am going to make sure to tell my sons because my one sons insurance just went up due to a fender bender and he is teed off about it,so I think he needs to do some leg work,as you said.
I guess they fell for the ad like many people.See,its good to know someone in the insurance biz :)