Hey Guys,

With the car now being in my name and so close to being on the road, I've begun to think about insurance. The only problem is, I'm completely clueless about insurance.

It's a no-brainer that I want full two-way insurance. I *know* it's gonna cost an arm and a leg to get a 19yr old insured on a sportscar.

The thing is, my car is in such awesome condition, and I've put so much money and work into it, I don't want to end up being "up the creek without a paddle" like Manntis was after his accident. The write-off value of my car is like a thousand dollars, and I've put THREE TIMES that in parts alone, not to mention my countless hours of labour. It'd be a real kick to the pants if I got in an accident and was handed 1g and told to go away.

So I want to get it insured for some sort of replacement value.

How do I go about asking for this? what's it called? how does it work?

Canadian guys especially, how's the insurance work?

I want to get some information before talking to my family's insurance agent, since I don't want to sound like a total newb about what I want. It's so hard to find insurance info online... if you type "Insurance information" or anything like that into google it's a lost cause.

Help!
Jon

 

Insurance here in Saskatchewan is still government owned so any local info I have isn't very useful to you. I did some checking around and most sites don't list cars older than 1990. Using a 2nd gen RX-7 your insurance will be in the neighbourhood of $8000 a year according to www.insurancehotline.com. That is assuming that you haven't owned another vehicle before the RX-7 and are accident/ticket free.

Your best bet is to go to a local broker and check out your options. You will probably be better off if your mother is the 'owner' of the vehicle for insurance purposes. Failing that you could always try to register the car in Manitoba where insurance is still government owned and far cheaper than the outrageous quote that I got from the above website.

 

Holy heck!! That is unbelievably expensive. Yeah for privately owned insurance.

 

I called the insurance agent at lunch.

They don't want to insure me for anything more than liability. They say I'm "too much risk" and that "no company would want to do that". I finally convinced her to look into it for me, to let me know if it's possible to somehow get replacement value on my car.. Ugh... this is gonna be a tough battle. I'm probably gonna start by getting "just liability" to begin with then upgrade as soon as we've figured out how it will work. She's gonna call back later this week.

Jon

 

what year is your car i know in the states you can register a car over 20 years old as a classic and get insurance as such to cover the cost of costumization and expense delt with when restoring a car this is what i plan on doing the only linit is milage your limited in how much milage you can put on in a year not sure how much think its like 6or 7k a year not sure but as long as your not commuting far every day thats not to bad

 

In the US there are several companies that have no mileage restrictions and you do not need to register it as a classic. It is about $140/year for $10,00 coverage.

 

Like I mentioned, if you really want to get something for damage to your vehicle, registering under your mother or in another province like Manitoba is your best bet. Coverage which includes 200,000 liability and a $500 deductable is just a hair under $1k in Manitoba.

If your mother were to insure the car under her name as the primary operator, the annual rate would be just under $1600 with RBC insurance. It's time to deed the car BACK over to her and lie to the insurance company man. It's the only way you're going to get collision AND liability.