Insurance question
11-14-08, 04:13 PM
#1
55.603
Thread Starter
Insurance question
Hey guys!
Any help would be greatly appreciated
I have found an FC i would like to hopefully buy, but currently, the insurance company quoted me $990AU ($641US) a month for full comprehensive insurance
!
That would be 12,000 a year for me, and since this would cost MORE then the actual car, I think something must be wrong. My mom pays $55US for her car, although it is a 2004 Toyota. I tried changing a few "minor" details, but as long as my age is listed as a driver, the quote goes up by $480US.
This car would now be my second one, my first rotary. And yes, I do know about the Australian rules and such, how I couldn't drive a rotary, especially a turbo on my P's.
Well, the rule has already been by-passed by many, so I shall exploit it as well
Onto the question though, I'd just like to know how much you guys pay for insurance, and how many years of driving you have. !That would be 12,000 a year for me, and since this would cost MORE then the actual car, I think something must be wrong. My mom pays $55US for her car, although it is a 2004 Toyota. I tried changing a few "minor" details, but as long as my age is listed as a driver, the quote goes up by $480US.
This car would now be my second one, my first rotary. And yes, I do know about the Australian rules and such, how I couldn't drive a rotary, especially a turbo on my P's.
Well, the rule has already been by-passed by many, so I shall exploit it as well
Any help would be greatly appreciated
11-14-08, 04:38 PM
#5
Pop Pop BANG FIRE!
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my insurance for a 2007 saturn aura and my 7 would only be $2100 every 6 months and im 16 but its not in my name so im not worried bout it. that is way toooo much for insurance
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11-14-08, 05:18 PM
#8
Insurance rules and costs vary a great deal from one place to another, so unless the OP hears from other members living nearby in Australia, the info may not be of much value.
When I was 18, I bought a Mazda GLC. I was living in Pennsylvania at the time, and I think I paid about $150 a month for liability only on a car that had a whopping 69 horsepower and four doors. I remember at the time that my agent told me she had just gotten off the phone with another 18 year old whose family had just bought him a brand new V8 IROC Camaro (dating me a bit here). His insurance was going to be $3000 a month! Some insurance companies simply don't want to risk insuring a young driver in a sporty car so they will try to scare you off with an astronomical quote. It may pay to shop around.
When I was 18, I bought a Mazda GLC. I was living in Pennsylvania at the time, and I think I paid about $150 a month for liability only on a car that had a whopping 69 horsepower and four doors. I remember at the time that my agent told me she had just gotten off the phone with another 18 year old whose family had just bought him a brand new V8 IROC Camaro (dating me a bit here). His insurance was going to be $3000 a month! Some insurance companies simply don't want to risk insuring a young driver in a sporty car so they will try to scare you off with an astronomical quote. It may pay to shop around.
11-14-08, 05:50 PM
#9
Lives on the Forum
IBTL...
*sigh*
Insurance threads usually get locked due to the fact that they are highly locational by nature.
The OP's info does not apply to the majority of us, and it ends up being a royal waste of space bragging (or complaining) about our insurance rates.
To the OP, learn about insurance.
There is no need to get "full coverage" on a car this old.
For the rate quote, you're either really young (wait till you get older), or your driving record has a lot of tickets on it (in which case you don't deserve to be driving an FC anyways).
If you can't afford the insurance, don't get the car, period.
-Ted
*sigh*
Insurance threads usually get locked due to the fact that they are highly locational by nature.
The OP's info does not apply to the majority of us, and it ends up being a royal waste of space bragging (or complaining) about our insurance rates.
To the OP, learn about insurance.
There is no need to get "full coverage" on a car this old.
For the rate quote, you're either really young (wait till you get older), or your driving record has a lot of tickets on it (in which case you don't deserve to be driving an FC anyways).
If you can't afford the insurance, don't get the car, period.
-Ted
11-14-08, 06:26 PM
#11
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yeah there are rules, until you are 21, i believe. You can not drive turbos unless they are turbo diesels...and the only rotary you can drive is the 12A. I pay 650 a year for liability only!
11-14-08, 10:45 PM
#12
55.603
Thread Starter
Thanks everyone for tuning in!
I know its kinda wasting space on the forums, but i did get quotes online and personally called one of the states best insurer. They all quoted around the same price, even if i'm only listed as a driver, and the car would be in my mom's name.
Also could someone explain why i wouldn't need full coverage
I'm 17 with no traffic violations so far, so I guess age might be the issue.
NakesFC seems right on the money, as I shouldn't be able to driver any turbo or supercharged vehicle until im 21, no rotaries above 1146cc or any car above 200kw.
The law is pretty strong, but in my case im exempted. Since I drive high performance cars at work (test drive, putting it on/off hoist etc.), I can drive any car to and from work. Now the law does not state where I stop by after work...
I know its kinda wasting space on the forums, but i did get quotes online and personally called one of the states best insurer. They all quoted around the same price, even if i'm only listed as a driver, and the car would be in my mom's name.
Also could someone explain why i wouldn't need full coverage
I'm 17 with no traffic violations so far, so I guess age might be the issue.
NakesFC seems right on the money, as I shouldn't be able to driver any turbo or supercharged vehicle until im 21, no rotaries above 1146cc or any car above 200kw.
The law is pretty strong, but in my case im exempted. Since I drive high performance cars at work (test drive, putting it on/off hoist etc.), I can drive any car to and from work. Now the law does not state where I stop by after work...
11-15-08, 02:36 PM
#14
Is he planning to fly?!
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11-15-08, 03:08 PM
#15
The reason you don't need full coverage is because the car just isn't worth that much. It just doesn't make sense to pay an extra several thousand a year for a car that is only worth a few thousand. In a year of less (at least at your rates) you save more money than the insurance company would give you for a totaled car. Unless of course the insurance company requires full coverage.
11-15-08, 07:25 PM
#17
55.603
Thread Starter
Thank you everyone !
I just got my mom to call them and give in all her details, listing me as a secondary driver. And only getting 3rd party coverage. The difference is indeed huge
It was $640US before for full comprehensive, and its now $116US for just 3rd party.
It made me
honestly...
Thanks a lot Sideways7 for clearing up the full vs 3rd party question, now I get the general idea.
Hopefully, now I can get the money together and buy my first 7!
Since all questions have been cleared up, I'd appreciate if a Mod locked this thread.
My thanks goes out to everyone who helped
!I just got my mom to call them and give in all her details, listing me as a secondary driver. And only getting 3rd party coverage. The difference is indeed huge
It was $640US before for full comprehensive, and its now $116US for just 3rd party.
It made me
honestly...Thanks a lot Sideways7 for clearing up the full vs 3rd party question, now I get the general idea.
Hopefully, now I can get the money together and buy my first 7!
Since all questions have been cleared up, I'd appreciate if a Mod locked this thread.
My thanks goes out to everyone who helped
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