I had a 01 Trans Am for about a year and insurance was about $510 every 6 months. There was a $125 performance charge added. I imagine the new GTO will have one as well. I hope it isn't too bad. I have a perfect driving record (for now anyway!) and am 45 years old so my rate should have been unaffected.
I'm an insurance agent, but i havent even thought about checking the price. I know that the vehicle is not in any database to be quoted so if your looking for a specific number you gotta wait. As far as performance goes, a vehicle is rated on what is known as a symbol. The symbol takes in account the price, the performance, the theft rate, and other minor influences. I'd assume this car would have a similar symbol to what the firebird/camaro had. It's not that bad. If your a good driver, have your auto insurance packaged with your home, and have good credit, you should have a reasonable figure. When I go back to work monday i'll plug in some numbers and let you guys know. We sell all over the country so i'll see what I can do.
My Farmer's agent quoted me $550 every 6 months and stated the car did not fall under the sports car mark-up. The 04 GTO was in his system a month and a half ago. This insurance is in Southern California were everything is expensive. So many of you should pay much less.
That $550 a half is relatively cheap, and are you sure he quoted you on a GTO...If it has a performance engine such as the 5.7L it has it will fall under the sports category. My guess is he quoted you on a grand prix. I'm not doubting you by any means, it just seems strange that it is that low and that california agents have it in their system and we dont.
Right now I'm paying a little under $190 a month. That's all because I am 23. I have no tickets and no accidents.
I checked with my agent a few months ago. They didn't have the car in the system yet but I gave them a description (price/engine size/etc.) and they said it would probably be about $200 a month.
I called my agent yesturday and they did not have the GTO in the system. I had her use the Z06 to give me and idea. My mouthly payments would be 142.00 a mouth. That also includes my wife's 2003 Pathfinder. I would think the GTO would be alittle cheaper than the Z06.
I did not actually see it on a computer screen but I have a printout in which it lists all three of my cars including the GTO and he definitely was aware of the 5.7 litre engine and had heard of the car. He could have manually entered it and compared it to another car but he stated to me that it was in there system. I cannot speak for other company's but that is what my Farmer's agent is telling me.
My insurance company uses a "high performance" category, as well as cost, work or pleasure, etc to determing premium (as well as driving record etc). Both my turbo Volvo s-80 and Grand National fall in this category but are listed as "pleasure". Liability premiums are similar on all my cars at about $300/year ( Wifes Audi A4 and the Suburban). comp and collision vary. S-80 about $780/year and GN about $550 total. I expect the GTO to be in this range.
I checked with State Farm and they said the insurance will be based on the price alone at this time. It is really no more than it is for my 1998 GTP full coverage.
I am sure that it will be rerated as soon as it gets a classification but for now it is just by price. I am over 40 so mine is not that great anyways but I feel for you guys that are in your 20s and early 30s.