Finding a suitable auto insurance policy can be surprisingly difficult. Despite a plethora of full-service, discount and middle-of-the-road auto insurance providers, auto insurance policies can vary widely in price and quality. In fact, many young drivers opt to give up their searches for affordable auto insurance policies and remain attached to their parents' plans as "eligible drivers." This offers many financial and convenience-related benefits. If you're a young driver who wishes to purchase a relatively expensive or sporty car and insure it with your own funds, you should prepare to pay several hundred dollars per month for your policy.
The exact cost of a given auto insurance policy is dependent upon dozens of factors. Some of these should be obvious. For instance, driving history and age are two of the most important determinants of a policy's cost. Insurance companies tend to distrust drivers who lack experience or demonstrate an inability to follow the rules of the road. Interestingly, young drivers are penalized far more for their inexperience than mature new drivers. This may be because individuals who wait many years before getting behind the wheel of a car tend to be more cautious than teenage drivers who jump at the chance to prove themselves on the road.
As a young driver in search of affordable car insurance, you already have two factors working against you: your age and inexperience. In addition, the region of the country in which you're planning on driving and garaging your car might play a major role in the final cost of your insurance policy. If you live in an area that's prone to property crime or severe weather, you'll have to pay a premium for insurance. Due to their relatively high property-crime rates and the ever-present potential for natural disasters like hurricanes and earthquakes, Florida and California are two of the most expensive states in which to insure a motor vehicle.
However, your insurance costs will also be mitigated by your vehicle's age. As your G35 ages, its resale value will decrease. As it does, the cost of replacing it will fall by a commensurate amount. Your insurance company will "reward" you for this depreciation by reducing the amount that it costs to insure. If you purchase a used G35 without the aid of a vehicle loan, your insurance costs will be particularly low. If you do require a loan to finance the vehicle's purchase, you'll have to procure expensive comprehensive coverage at your lender's request.