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Join Date: Oct 2004
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Insurance

Im probably moving to myrtle beach, south carolina in a few months and am curious how much the going rate for insurance is down there, im in NJ right now and I feel like the insurance around here is high. Im just looking for minimal coverage. If anybody from the area could help me out it would be great, maye tell me the difference between the two states? Thanks
Old 03-21-2005, 09:07 AM
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You might try and goto one of those online insurance sites and get a quote and just use SC as your state of residence.
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'83 Callaway 944 2.5L turbo - Soon to be daily driver
'83 Porsche 944 NA - sold
'78 Porsche 924 NA- RIP
'89 Porsche 944 S2 - Parted

Looking for a nice 944S for a daily driver.
Old 03-21-2005, 09:12 AM
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New Jersey, in general, has the highest premiums in the country. I believe that in general, South Carolina is near the bottom. Your individual case may be different, but it's a pretty safe assumption that your premiums will be much less.
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Old 03-21-2005, 09:54 AM
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Sc has the some of the highest rates around.

my 86 951 has minimum coverage, no collision. Im 30 and have no tickets or violations.
My premium is $1200 per year. (progressive was the cheapest i could find..GMAC was second)

SC insurance companies go by your credit score...then Driving record comes 2nd...

Im titled in SC.... NC is cheaper by Half, if you can do that, i would.

Sucks...
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Old 03-21-2005, 11:09 AM
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There is a very high inverse correlation (greater that .90) between credit score and frequency of claims. (The lower your credit score, the more likely you are to file a claim.) I think Larry the Cable Guy summed it up pretty well when he said "I believe that sometimes you have to wreck the truck to get the insurance money to make the truck payment." The simple fact is that in general people who don't manage their money well (and have a low credit score as a consequence) view insurance fraud as the solution to their money problems. Also, there is no single greater indicator of whether or not someone will file a claim than their credit score. Counterintuitive as it may seem, past driving record does not do as good a job as credit score.
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Some Porsches long ago...then a wankle...
5 liters of VVT fury now
-Chris

"There is freedom in risk, just as there is oppression in security."
Old 03-21-2005, 11:45 AM
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what sucks is i have good credit (no repos or missed payments) Im just WAY over extended ...All my business debt is on my personal credit. So get hit for it.

NC doesnt do it that way. They dont do a credit check.
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Old 03-21-2005, 11:52 AM
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Now that sucks. Hopefully it will get better with time.

Like I said before, the correlation is in the neighborhood of .90, which means it is right 90% of the time and wrong 10% of the time. It sounds like you fall in the 10%. IIRC, driving record has a correlation of something like .60--which makes it an even worse indicator.

My father was in the same situation, and as it turns out, he didn't know how to run a business either.
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Some Porsches long ago...then a wankle...
5 liters of VVT fury now
-Chris

"There is freedom in risk, just as there is oppression in security."
Old 03-21-2005, 12:42 PM
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Well, at least you get to look forward to getting old.

My insurance on my 944 is $135 per year, here in New York State.

gb
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Old 03-21-2005, 01:53 PM
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Hey Cory...mine is an '83...I had it registered here in Maryland with historic tags (it's more than 20 years old, a model that Porsche doesn't make anymore and my weekend toy)...REALLY cut down on the insurance...wouldn't have been able to afford it otherwise...might be worthwhile doing a little bit of investigating to see what the NC MVA rules are...btw, I'm originally from NJ and their insurance rates are the worst...
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1983 silver 944 - sold to "Ontario Chris"
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Last edited by bobcat0; 03-21-2005 at 02:18 PM..
Old 03-21-2005, 02:15 PM
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