Alot of you guys are getting ripped off actually shop around for a good insurance company.... 513 a month lol i would take a limo to work everyday instead. Alot of insurance companies will give you a fair amount of difficulty because of the age of the car. I would say your insurance range for that car you should value the car at like 500 dollars because you wont get more than that if you get into an accident anyways. you should be paying something like 250-300 a month regardless on what car you get. Mazda Miata's are less to insure than a Subaru Legacy Wagon it depens on a a few factors:

AB (Accident Benefits)
A relative index based on the frequency of Accident Benefit (personal injury) claims
Average amount paid for insurance claims for each vehicle
A relative index based on the cost per vehicle for Collision insurance claims
A relative index based on the cost per vehicle for Comprehensive insurance claims (including theft)
A relative index based on the cost per vehicle for Direct Compensation Property Damage insurance claims
A relative index based on the cost per vehicle for theft claims
A relative index based on the frequency of theft claims
(Number of claims reported as a percentage of the number of vehicles
with All Perils, Comprehensive and Specified Perils coverage)
2D = 2/3 doors SUV = Sport Utility Vehicle
4D = 4/5 doors VAN = Van
PU = Pickup WGN = Wagon
Indicate if a vehicle is equipped with an IBC approved system ( CAN/ULC-S338 )

http://www.ibc.ca/en/Car_Insurance/d...CMU_E_2009.pdf

Check this out it will give you a better understanding on how insurance works. It wont have your car because its too old but it will give you a good idea.

 

I'm paying less then $200 /month from Belair-Direct with my RX-7 and RX-8 (only one is fully insured at a time).

thewird

 

I don't mean to "attack" you, but there is some bad information in this post.

First off, the "age range" of your car is irrelevant. This means nothing to insurance, we don't care how old your car is.

Secondly, you can not establish a valuation of your vehicle with your insurance company. You can't call them up and say "I only want to value my car at $500" Even if you could, this wouldn't make one whit of difference for your policy. This would have no bearing on how much damage your vehicle could do in an accident or how much damage you or your vehicle could incur in the even you are hit.

Third, you can't throw out "you should be paying" figures. Every single person is different. Factors such as where you live (and don't come back and say "toronto or gta" because prices can vary wildly from where YOU live and what the people across the street pay because they have a postal code that is different than yours by one digit). Major factors such as age and licensing dates have huge influences on premiums.

The massive amount of oversimplification in this post is going to lead to further confusion on what influences insurance rates. If you would like to understand further, please, call me at work 416-490-6011 I'm an insurance broker and I can help clarify some of the misconceptions you've posted.

-Geoff

 

Better off buying my car, 2300 for an automatic with more km on the engine?

PM me if you're interested.

Oh and I get $173 a month, I'm 20. Address is very important as well...

 

Address *IS* very important, but a word of advice: If you've registered your car in some middle-of-nowhere town to save money on your coverage, but you're still driving it in toronto; be careful.

In the event that you have a major claim (think you seriously injured someone) the insurance company is going to investigate and pull your debit records and credit card records to see where you're buying your gas, and they're going to try and find out if the car is garaged elsewhere. If they do uncover evidence, your policy is in a voidable state, and they WILL void it to avoid paying out major money in claims expeses. This will essentially ruin your life as you'll be on the hook for hundreds of thousands, if not millions of dollars in medical expenses. You'll also be conviced of insurance fraud and a charge of material misrepresentation will go on your insurance history. You'll be barred from any carrier other than Facility for 10 years.

You may be saving money in the short term, but you're not actually driving with any coverage.

-Geoff

 

wow. After reading all your posts in this thread, all I can say is thank you. Your knowledge of the insurance system is extremely valuable and much appreciated by myself and others for sure.
-mike