Results 1 to 15 of 15

Thread: new car insurance

  1. #1
    God/dess Lena's Avatar
    Joined
    Jun 2002
    Location
    On a sweet muddy river.
    Posts
    6,399
    Thanks
    0
    Thanked 78 Times in 43 Posts

    Default new car insurance

    So I have a brand new truck. I normally buy used, but I happened to be in the right place at the right time to get this one for a couple thousand under blue book. I also took a loan for about 2/3rds of its value. Another thing I don't normally do, but I don't want to take any money out of my investments, and I figured the loan will help my very subprime credit.

    My insurance went up a lot more than I expected. In fact, it more than tripled. I know this is because it's new and it's comprehensive. I've always just had liability insurance plus uninsured drivers before. So this is motivating me to pay it off really fast and go back to liability insurance, but... is that a good idea? Do you guys have comprehensive?

    Lena



  2. #2
    Banned Melonie's Avatar
    Joined
    Jul 2002
    Location
    way south of the border
    Posts
    25,932
    Thanks
    612
    Thanked 10,563 Times in 4,646 Posts
    Blog Entries
    3
    My Mood
    Cynical

    Default Re:new car insurance

    I don't think that anybody would voluntarily purchase comprehensive insurance if it weren't a mandated condition of car loans.

  3. #3
    Veteran Member bloodydewdrop's Avatar
    Joined
    Nov 2003
    Location
    united states
    Posts
    539
    Thanks
    0
    Thanked 4 Times in 3 Posts

    Default Re:new car insurance

    Have you considered switching companies? I switched from Progressive to Geico about two years ago and saved 60%....just a thought. Anyhow, enjoy the new vehicle

  4. #4
    Banned Blade's Avatar
    Joined
    Jan 2004
    Location
    The Road To Hell
    Posts
    5,171
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default Re:new car insurance

    get AAA and then get insurance thru them...our car that we're making payments on was gonna cost us a fortune to insure thu most companies but AAA saved us almost half

  5. #5
    Featured Member GnBeret's Avatar
    Joined
    Jul 2004
    Posts
    796
    Thanks
    0
    Thanked 7 Times in 7 Posts

    Default Re:new car insurance

    Yea, but look at it this way - you pay it off, drop comprehensive, and the next day total it in a single vehicle accident (hey, s*** happens - ever blow a tire at 70?). THAT's when you'll realize why it's a pretty good deal unless and until you have the ability to "self-insure", i.e., have enough banked to take the risk of having to eat the entire value of the vehicle without it really screwing you up for a long time afterwards.

    Know anybody in Amica? Members only insurer, like USAA, but a member can recommend you and get you in - they generally beat anybody but USAA on rates.
    "That's your answer Old Man? I guess you're a Hard Case too...."
    - Luke
    "Some men, you just can't reach...."
    - Boss, re Luke

    If there's one thing in my life these years have taught me,
    it's that you can always see it coming, but you can never stop it.
    -Cowboy Junkies

  6. #6
    God/dess VenusGoddess's Avatar
    Joined
    Oct 2003
    Location
    Home
    Posts
    13,598
    Thanks
    0
    Thanked 28 Times in 23 Posts

    Default Re:new car insurance

    We have a car that is paid off, but since I use it to drive my daughter around, I make sure that I have all of the whistles and bells for insurance on that car. Otherwise, I think I would just have liability. Although, I do have to ask: with a brand new truck, why would you want just liability on it? If you get into an accident and are willing to let the truck go or pay for the damages yourself...a BRAND NEW truck would be an expensive throw away. If I had a used car that could "easily" be replaced, I would have just liability. However, even if I had a brand new car that was paid off...letting go of $20+ thousand dollars would be a hard pill for me to swallow.

    Have you had any accidents, lately? Also, with your subprime credit, it's probably the reason your rate is so high (sucks balls). It's a damn shame that insurance companies can now run your credit to determine your rate these days. It's not like their losing money if you don't pay your insurance and they drop your coverage...it's just another way to make more money. Anywho...see what kind of discount you get for paying for 6 months/1 year in full. Then up your deductible...then shop the insurance...compare/contrast...some of the "high volume" insurers are cheaper but their customer service leaves something to be desired. Maybe you could also use GrnBeret as a "member recommendation" to get into Amica...LOL...*nudge, nudge*

  7. #7
    Veteran Member
    Joined
    Sep 2004
    Location
    New Jersey
    Posts
    547
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default Re:new car insurance

    Ugh, I live in New Jersey, the highest Insurance rates in the United States... Aaah.... Just thinking about it hurts my brain...

  8. #8
    God/dess Lena's Avatar
    Joined
    Jun 2002
    Location
    On a sweet muddy river.
    Posts
    6,399
    Thanks
    0
    Thanked 78 Times in 43 Posts

    Default Re:new car insurance

    Hmm... I have AAA, I'll check into that..

    GnBeret, not really, but I know you

    Lena



  9. #9
    God/dess Lena's Avatar
    Joined
    Jun 2002
    Location
    On a sweet muddy river.
    Posts
    6,399
    Thanks
    0
    Thanked 78 Times in 43 Posts

    Default Re:new car insurance

    Oh, and I've never been in an accident that was my fault. I was rear ended at a red light one time, and another time I was stopped at a red light and a big eighteen wheeler came out of a business park and ran into the side of my van and totalled it.

    I have had a couple speeding tickets lately tho...



  10. #10
    God/dess VenusGoddess's Avatar
    Joined
    Oct 2003
    Location
    Home
    Posts
    13,598
    Thanks
    0
    Thanked 28 Times in 23 Posts

    Default Re:new car insurance

    Quote Originally Posted by Lena link=board=6;threadid=13775;start=msg182775#msg182 775 date=1096311025
    Oh, and I've never been in an accident that was my fault. I was rear ended at a red light one time, and another time I was stopped at a red light and a big eighteen wheeler came out of a business park and ran into the side of my van and totalled it.

    I have had a couple speeding tickets lately tho...
    The speeding tickets will jack your rate (especially after 2 in one year) if they go on your record. In Illinois, if you get a speeding ticket, you are eligible to take traffic school and get "probation". If you get another moving violation before your probation is up, then both get reported to DMV.

    Also, even if an accident was not your fault, but your insurance company had to pay out for something (uninsured driver, etc), your insurance will go up...

  11. #11
    God/dess Lena's Avatar
    Joined
    Jun 2002
    Location
    On a sweet muddy river.
    Posts
    6,399
    Thanks
    0
    Thanked 78 Times in 43 Posts

    Default Re:new car insurance

    The other driver was insured both times, so mine didn't pay.



  12. #12
    God/dess VenusGoddess's Avatar
    Joined
    Oct 2003
    Location
    Home
    Posts
    13,598
    Thanks
    0
    Thanked 28 Times in 23 Posts

    Default Re:new car insurance

    Are you over the age of 25? If not, then that could be another reason. I had to pay out the nose until I turned 25, then my insurance dropped almost in half.

  13. #13
    Featured Member GnBeret's Avatar
    Joined
    Jul 2004
    Posts
    796
    Thanks
    0
    Thanked 7 Times in 7 Posts

    Default Re:new car insurance

    Quote Originally Posted by Lena link=board=6;threadid=13775;start=msg182772#msg182 772 date=1096310910

    GnBeret, not really, but I know you

    Lena
    Umm... ????? Not sure what you mean, but you've definitely got me curious. Do tell.
    "That's your answer Old Man? I guess you're a Hard Case too...."
    - Luke
    "Some men, you just can't reach...."
    - Boss, re Luke

    If there's one thing in my life these years have taught me,
    it's that you can always see it coming, but you can never stop it.
    -Cowboy Junkies

  14. #14
    God/dess VenusGoddess's Avatar
    Joined
    Oct 2003
    Location
    Home
    Posts
    13,598
    Thanks
    0
    Thanked 28 Times in 23 Posts

    Default Re:new car insurance

    ^ She's going to use you as a reference to get that insurance.

  15. #15
    Featured Member GnBeret's Avatar
    Joined
    Jul 2004
    Posts
    796
    Thanks
    0
    Thanked 7 Times in 7 Posts

    Default Re:new car insurance

    Ha ha ha... whew - what a relief!

    Unfortunately, won't work. Ex-military, so have USAA. :embarassed:

    Sorry!
    "That's your answer Old Man? I guess you're a Hard Case too...."
    - Luke
    "Some men, you just can't reach...."
    - Boss, re Luke

    If there's one thing in my life these years have taught me,
    it's that you can always see it coming, but you can never stop it.
    -Cowboy Junkies

Similar Threads

  1. Car Insurance
    By Miss_McKenna in forum The Lounge
    Replies: 15
    Last Post: 04-08-2009, 11:05 AM
  2. Car Insurance
    By PrettyCurlieQ in forum Dollar Den
    Replies: 7
    Last Post: 06-25-2008, 10:51 AM
  3. My car insurance!
    By lolagetz in forum Dollar Den
    Replies: 12
    Last Post: 02-14-2008, 06:56 PM
  4. car insurance Q
    By TigersMilk in forum Dollar Den
    Replies: 21
    Last Post: 04-26-2005, 10:46 AM
  5. Car Insurance
    By tRoUbLeMaKeR in forum Dollar Den
    Replies: 17
    Last Post: 11-23-2004, 04:51 AM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •