If you want to have a good insurance rate for your Chevy camaro, it is always a good idea to shop around.
Call a bunch of different companies to get the best deal for yourself.
However, you should keep in mind that your driving record, credit status, state cost of living, individual profile, etc. all play a factor in your insurance cost.
Different Car Insurance Companies
These are ten of the most popular car insurances in 2020:
- State Farm
- Geico
- Progressive
- Allstate
- USAA
- Liberty Mutual
- Farmers Insurance
- Nationwide
- American Family Insurance
- Travelers
Definitely give some of these companies a call to quote your case so that you can get the best deal.
Camaro insurance cost for 21 year old
You can expect anywhere between $100-250 per month on average for a Camaro SS.
However, your age, state, driving history, etc. have a huge impact on what you might pay for. Especially where you live and age.
You have some young adults that have their camaro insurance cost as low as $50 a month. Their state does not have a lot of reckless driving and a clean driving history.
Then, you have other 21 year olds that have their camaro insurance cost $420 a month, living in an expensive state and having multiple accidents on their driving record.
It is tough to say what is “worth it” or not.
My best recommendation is that you work out the calculations yourself and do the homework on whether or not replacing parts and paying out of pocket yourself is less than the cost of insurance per year.
Age matters
This deserves its own bullet point.
I found that around 25 years old, your insurance rate should drop.
Some company reps might take advantage of you being naive but always shop around and have options.
Remember, you are the boss and they are trying to sell insurance to you.
It might not be great at 21 years old, 22 years old, or 23 years old but with age alone, you can get a fairly cheap insurance rate at any state.
It just depends on what is available.
What is your deductible?
Sometimes, we get caught up in what your monthly insurance is.
But it is also important to figure out what your camaro insurance deductible will be after you pay your monthly insurance fee.
Do you have a high deductible?
If so, it is almost worthless to pay a little monthly only to have a high deductible.
For example, if you only pay $100 a month for your camaro insurance but have a $5000 deductible, that would be no good since you still have to pay $5000 until your insurance starts to pay 100%.
So, the key is to have a low monthly insurance payment and the lowest deductible possible as well for full coverage.
But again, it depends on what you want to have covered.
Car insurance is a waste of money
Car insurance seems like a waste of money especially if you are not repairing anything.
Obviously, you do not want to get into any accidents but if rare situations happen, you want to make sure that you have the funds to repair any damage.
Alternatives?
Be self-insured and pay for liability insurance only.
Rely on your own driving skills and use the money you would have paid for insurance compound greatly in stocks or other investment vehicles.
Bad drivers and higher risk states do exist, this is the reality we live in.
In these cases, it might be worth it to purchase the cheapest full covered insurance.
Conclusion
Hang tight!
Driving a muscle car Camaro and getting insurance as a young adult may seem like a headache.
Well, it actually is a headache.
But once you hit 25 years old and ironed out a few driving weaknesses, your rate should be lower than it was before!
If you have older siblings, parents or simply not drive until it is absolutely needed, you can focus your energy on other priorities in your life.
