Bad day for my IS350
03-25-12, 05:08 AM
#79
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They def factor in your credit score. I'm 28
I'm paying 105/month for:
- Full coverage on the is250
- Full coverage on an SS camaro
- Liability only on a 1000 dollar bronco.
Through geico. I sure hope you've learned why full coverage is important on an expensive car.
I'm paying 105/month for:
- Full coverage on the is250
- Full coverage on an SS camaro
- Liability only on a 1000 dollar bronco.
Through geico. I sure hope you've learned why full coverage is important on an expensive car.
03-25-12, 11:10 AM
#80
^ My renewal comes this month but I'm still only going with liability. Not seeing the point in getting full coverage yet. I park inside my garage and in my school lot. My neighborhood is safe and so is my school lot. If my credit score even matters, I've only had a credit card for 4 months and no history other than that.
I wanted full coverage from a major insurance and companies like Geico, State Farm, and Allstate but they want anywhere from $5000-6000 every six months. My local insurance company wants $3000. Now that I've been in an accident, rates for full coverage will be even more. This repair cost me $4000. That's not even 6 months of insurance cost for the repairs, plus a $500 deductible. Car is worth less than $15K anyways.
So the more I think about it, I'm fine with liability. Saves me money and makes me drive more carefully now knowing I have just liability. I'll definitely think about full coverage when I get older but at these premiums, I'm fine with liability.
I wanted full coverage from a major insurance and companies like Geico, State Farm, and Allstate but they want anywhere from $5000-6000 every six months. My local insurance company wants $3000. Now that I've been in an accident, rates for full coverage will be even more. This repair cost me $4000. That's not even 6 months of insurance cost for the repairs, plus a $500 deductible. Car is worth less than $15K anyways.
So the more I think about it, I'm fine with liability. Saves me money and makes me drive more carefully now knowing I have just liability. I'll definitely think about full coverage when I get older but at these premiums, I'm fine with liability.
03-25-12, 11:21 AM
#82
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Join Date: Aug 2011
Location: IL
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I do have just liability as well. And thats $80 a month.
Thinking switching to full coverage if the price is right when i turn 21. Heard that once you turn 21 they decrease the rates.
Thinking switching to full coverage if the price is right when i turn 21. Heard that once you turn 21 they decrease the rates.
03-25-12, 11:45 AM
#83
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Questions for you guys with just liability. Who owns your car?
Did you buy it out right?
If you owe ANYTHING on it... insurance is worth it.
I am off the opinion of others in this thread. If you can't afford full coverage then maybe this car isn't for you at the moment.
Did you buy it out right?
If you owe ANYTHING on it... insurance is worth it.
I am off the opinion of others in this thread. If you can't afford full coverage then maybe this car isn't for you at the moment.
03-25-12, 04:11 PM
#84
Car is paid for full in cash when I got it. Car is registered under my name too. My parents both don't have licenses so I can't go under their names. So I had to start my own policy at the age of 18. Prior to that, I had no credit history and only had my license for a year.
I only had the car for one and a half years. If I went with my local insurance for full coverage, I would have paid $9000 to this day since I renewed three times. If I went with a major company, I would have spent maybe $15000. After getting into the accident, it cost me $4000 for parts and some shop work. I did most of the work myself at home and sent the body parts to a shop to paint and then to a body shop for frame straightening.
I only had the car for one and a half years. If I went with my local insurance for full coverage, I would have paid $9000 to this day since I renewed three times. If I went with a major company, I would have spent maybe $15000. After getting into the accident, it cost me $4000 for parts and some shop work. I did most of the work myself at home and sent the body parts to a shop to paint and then to a body shop for frame straightening.
03-25-12, 07:35 PM
#85
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Location: IL
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When you are that young insurance on any car will cost you a fortune. I was paying the same amount for 2002 civic a year ago, so the kind of the car don't matter much.
03-25-12, 07:44 PM
#86
^ My renewal comes this month but I'm still only going with liability. Not seeing the point in getting full coverage yet. I park inside my garage and in my school lot. My neighborhood is safe and so is my school lot. If my credit score even matters, I've only had a credit card for 4 months and no history other than that.
I wanted full coverage from a major insurance and companies like Geico, State Farm, and Allstate but they want anywhere from $5000-6000 every six months. My local insurance company wants $3000. Now that I've been in an accident, rates for full coverage will be even more. This repair cost me $4000. That's not even 6 months of insurance cost for the repairs, plus a $500 deductible. Car is worth less than $15K anyways.
So the more I think about it, I'm fine with liability. Saves me money and makes me drive more carefully now knowing I have just liability. I'll definitely think about full coverage when I get older but at these premiums, I'm fine with liability.
I wanted full coverage from a major insurance and companies like Geico, State Farm, and Allstate but they want anywhere from $5000-6000 every six months. My local insurance company wants $3000. Now that I've been in an accident, rates for full coverage will be even more. This repair cost me $4000. That's not even 6 months of insurance cost for the repairs, plus a $500 deductible. Car is worth less than $15K anyways.
So the more I think about it, I'm fine with liability. Saves me money and makes me drive more carefully now knowing I have just liability. I'll definitely think about full coverage when I get older but at these premiums, I'm fine with liability.
03-25-12, 10:14 PM
#87
I'm sure you have good reasons for staying with liability only, but have you tried seeing how much full coverage with a large deductible would cost you? I know some people that have high deductibles (i.e. $1500) and get cheap full coverage because of it. Since you seem comfortable spending a good amount out of pocket for damage, it might be worth looking into...just a thought
Thanks for the suggestion though. I honestly thought about a $1000 deductible but unless I get into a serious accident, damage would be less than $1000 so I was on the fence too.
Edit: Now that you got me thinking, I might do this in the future. Rate will be less. If I don't get into any accidents, I won't have "wasted" much on insurance but if I do, I'll only end up paying $1500 out of pocket and insurance got the rest.
Last edited by chi123; 03-25-12 at 10:19 PM.
03-25-12, 10:17 PM
#88
That is true. When I was looking for cars, I didn't want a 10-year old car that I would constantly have problems with and be laughed at by kids at school lol. I wanted a newer car, something reliable, and looked good. I was considering a brand new Honda Civic or the IS350 or '07 328i. Liability was the same cost for all cars with my current insurance. Full coverage was $3K for the IS350 and 328i or $2.8K for the Civic. Surprised me that the Civic cost almost the same but it did.
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