What is everyone paying on insurance?

[why?]

Originally Posted by nookandcrannycar

I wonder if the same situation in the U.S. causes a similar rate jackup ?

It does. My sister lived in the UK for 3 or 4 years. Coming back and trying to even get car insurance was almost impossible. Only 1 company would cover her at all, and she paid through the nose for that. I think she ended up with something like $1500 or so for a late model Chrysler minivan. Or maybe $2k. Not 100% sure.

[nookandcrannycar]

Originally Posted by why?

It does. My sister lived in the UK for 3 or 4 years. Coming back and trying to even get car insurance was almost impossible. Only 1 company would cover her at all, and she paid through the nose for that. I think she ended up with something like $1500 or so for a late model Chrysler minivan. Or maybe $2k. Not 100% sure.

That makes sense. Years ago a friend and I spent about 5 months in Europe and Africa. When we got back he decided to finish his EMT certification and then cram as many EMT shifts in as he could work that in with his other job, as a seasonal California state employee (an ocean lifeguard) over each summer for 3 years and travel the other 9 months of the year. Another friend of his had parents who owned a few houses as investments. The lease on one of them ended, and the parents let their son, my friend, and two other friends (4 guys total) move into the house and they charged them less than the previous tenants because the parents knew all of them and knew they'd take good care of the house (the parents owned the house outright). My friend had 2 'at home' bills while he was traveling each year: Bill #1. Rent - it was an incredible deal and he wanted to save that space so that each Summer would = no drama. He paid a bit less rent when gone vs when he was there because the parents would lower the rent (again) a bit when he was gone re less wear and tear, Bill #2. CAR INSURANCE (bare bones liability on a 7 year old Civic) -- he probably looked at all angles of that situation and wanted to avoid a situation like your sister encountered (he's one of the few people I've ever known who is more frugal than I am )

[GTBaker]

When I got mine insured it was higher than my Outback. I question the agent and she said because the car is associated with young drivers the insurance rate is higher. I told her the insurance industry should insure clients not vehicles.

My insurance for my Yaris, scooter and Yamaha R1 is 150 a month. All 3 vehicles full coverage.

[jayeh]

Originally Posted by GTBaker

When I got mine insured it was higher than my Outback. I question the agent and she said because the car is associated with young drivers the insurance rate is higher. I told her the insurance industry should insure clients not vehicles.

My insurance for my Yaris, scooter and Yamaha R1 is 150 a month. All 3 vehicles full coverage.

Have you ever seen another Yaris on the road? The day I drove mine home from the dealership I was almost hit by two Yarises. Apparently most Yaris owners think the car is so small two can occupy the same space at the same time. Then I realized why I pay so much for insurance.

A Corvette would be cheaper to insure.

[YarisSedan]

After reading all theses posts now that I paid my car off it looks like its time to drop to liability insurance.

[nookandcrannycar]

Originally Posted by YarisSedan

After reading all theses posts now that I paid my car off it looks like its time to drop to liability insurance.

[tooter]

Originally Posted by YarisSedan

After reading all theses posts now that I paid my car off it looks like its time to drop to liability insurance.

That's one reason I always buy new vehicles for cash. All the money I save on financing costs and insurance over the life of one vehicle pays for the next new one.

[nookandcrannycar]

Originally Posted by tooter

That's one reason I always buy new vehicles for cash. All the money I save on financing costs and insurance over the life of one vehicle pays for the next new one.

Me too re buying new vehicles and paying cash to have zero finance charge and to avoid the comp and collision requirement that having a car note requires. I also buy relatively inexpensive cars (so I won't moan and groan as much if I have to write a check for a new car re getting in an accident that is my fault.....and I haven't had to since adopting this policy for myself long ago). I know this saves me quite a bit. That would be great if it saved enough to pay for the next car. I've never stopped to calculate how much it is saving me long term.

[why?]

Originally Posted by nookandcrannycar

Me too re buying new vehicles and paying cash to have zero finance charge and to avoid the comp and collision requirement that having a car note requires. I also buy relatively inexpensive cars (so I won't moan and groan as much if I have to write a check for a new car re getting in an accident that is my fault.....and I haven't had to since adopting this policy for myself long ago). I know this saves me quite a bit. That would be great if it saved enough to pay for the next car. I've never stopped to calculate how much it is saving me long term.

It would depend on how big the loan you compare it to. Several on yw have 5 year loans with significant interest. But even with that, it is mathematically not possible to save enough for another car.Even at 10% over 4 years, it adds $3000. Even at 10% over 5 years, the total paid would be a little over $19 grand. Now if you look at what some dumb people do, and get upside down on loans and trade 2 year old cars with 5 year loans on them, then you can truly get screwed.

[nookandcrannycar]

Originally Posted by why?

Now if you look at what some dumb people do, and get upside down on loans and trade 2 year old cars with 5 year loans on them, then you can truly get screwed.

Yeah, uninformed () people fall into the distraction of being 'sold the payment' and don't look at the total cost. Kind of like tactics that politicians often use.

[MyWhiteYaris]

I live in MN, have clean driving record and I pay 164.00 a month for full coverage on my 2011 Yaris. it sucks.