Reader’s Question:

I just got my driver’s license here in California two months ago, and I finally was able to come up with the money to buy my 1970 Plymouth GTX 440. My dad says this is going to hurt me auto insurance premium wise. What’s that all about?

Jim

Los Angeles, CA

Jim, your dad is right. Your auto insurance is going to go through the roof. A lot of factors are going against you. First, you’re teenager, at least that’s what I can gather from what you said. Teenagers are more expensive to insure because auto insurance companies believe that teen drivers are not very careful drivers. They are still overwhelmed by the feeling of freedom that comes with driving his or her own car. Statistics further prove that teen drivers figure in accidents more often than adult motorists. You really can’t argue with statistics.

And also because of your age, it will be correctly assume that your driving experience is still limited. That is understandable since you’re young and just got your license. However, inexperienced drivers get high insurance premium rates because their driving instincts or road safety instincts are not so sharp yet.

And lastly, your 1970 Plymouth GTX 440 is working against you. Your baby is a muscle car. Even if you were not a teen driver, because of your car, you are bound to get a higher auto insurance premium. Your high-performance car fetches a high auto insurance premium rate precisely because it is a muscle car. Your car can roar and, good grief, we know there’s a big chance you’re going to roar, as well, in California.

Don’t get me wrong, your car rocks, but that’s gonna cost you.

Tags: auto insurance premium, high risk insurance, teen insurance