Car Insurance?
Wednesday, May 26th, 2010 at
5:19 pm
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Chloe B asked:
I am planning to buy a used 1992 Honda Prelude for $2,700.00. How does the insurance work? Does the price of the car that I paid or the retail price, plays as a factor of how much I would have to pay monthly for insurance. What insurance company would be the best for a new driver with her G2 only? Does anybody have an idea of how much it will cost me (approximately monthly) for the insurance? What other fees or cost will I have to pay for?
Georgia
I am planning to buy a used 1992 Honda Prelude for $2,700.00. How does the insurance work? Does the price of the car that I paid or the retail price, plays as a factor of how much I would have to pay monthly for insurance. What insurance company would be the best for a new driver with her G2 only? Does anybody have an idea of how much it will cost me (approximately monthly) for the insurance? What other fees or cost will I have to pay for?
Georgia
Tagged with: Insurance • Insurance Company • Insurance Planning
Filed under: Insurance & Registration
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Darryl
The things that factor into insurance prices:
1. Type of vehicle
2. How old you are
3. Are you married? Teen drivers?
4. Tickets? Accidents?
5. How much coverage you want, liability, full coverage, etc.
Tamara
The best thing you can do is to get quotes online for insurance. Factors that can affect how much you pay are your age, if you are married, the area you live in, if you’ve had accidents before, and the type of vehicle.
Age: It determines if you will be a safe driver because the older you are, they assume you’ve got more driving experience.
Married: Someone who is married is assumed to have more responsibility than someone who is not.
Area: If you live in a high traffic area, the more expensive the coverage will be.
Accidents: If you’ve had an accident before you will have to pay a higher amount. They will assume that you are likely to get into more, especially if you have been the driver at fault before.
Vehicle: A sportscar has higher payments than say an older car. They look at statistics which determine the specific age group which is most likely to be the owner of a certain type of car. Also, the older the car, usually the lower the payments are.