Insurance?

[diaperedteenager]

okay, between a 1998 Cadillac Deville(fully loaded) and a Honda Accord 1996 (fully loaded) what do you all think would be cheaper to insure for a 17 year old?

and anyone who has had experience with either car, please sum up your experience with either car, thanks!

 

[DotDotDot]

Are you going for just liability? Collision? Comprehensive?

 

[diaperedteenager]

i guess all three, whatever is cheapest

 

[angelabauer]

The only way to find out is to contact several insurance agents licensed in your state. Rates vary so much from state to state and even by Zip Code in a given state.

In many, but not all, states auto insurance policies are not sold directly to minors under 18. In such restrictive states usually the vehicle must be registered to an adult, who takes out the policy. Typically this would be an add-on to a parent's auto insurance.

Then at 18 it might well be possible to re-register the vehicle and buy a new insurance policy. However, almost always it costs less to leave the registered owner as the parent and use the additional vehicle coverage as long as possible. Often even when a teen or young adult is living in a dorm while in college, so long as the primary "domicile" is the parent's home this additional vehicle practice is legal and ethical.

Where all this gets sticky is in the case of an emancipated minor who does not reside with parents and has a domicile elsewhere. Even getting an auto insurance quote can be very difficult.

 

[Diapered Rabbit]

:bunny:Let's see here - You're male and seventeen years old. You are in the highest insurance bracket. Unless your parents give you a kicken allowance or you have some other source of $$$$$ your best situation for insurance are as follows:

1. Walk or jog - you'll also be preparing for basic training and the Middle East.
2. Ride a bicycle
3. Bum rides from parents, friends, parents friends, friends parents.
4. Use public transportation.

Last resort: buy and own a car like one you listed. Note: NEVER UNDER ANY CIRCUMSTANCES DRIVE THE CAR REGISTERED TO YOU UNINSURED - NEVER!

Pay at least $300 month for required state minimum for liability insurance.

NEXT STEP - Choice here:

1. Get a ticket or two
OR
2. Get in a car wreck.
3. Have a teen buddy of yours drive the car and wreck it.

And have your insurance cancelled.

Regarding the 11 year old cars you listed. Have both checked out by a competent mechanic (could be the Auto Shop teacher at your high school). If both are sound mechanically, go with the Honda Accord - better gas mileage - lower horsepower.:bunny:

P.S. angelabauer's post was extremely accurate and covered your insurance question. Some parents would not take on the expense of adding you to their insurance. It would have more than DOUBLED my insurance cost to have a male, minor driver on my policy. Any claim or accident would also affect my insurance rates for up to 5 years (even after the son moved out and moved on). Sobering thought, perhaps my first 4 suggestions don't sound so crazy now.

 

[Pramrider]

:bunny:Let's see here - You're male and seventeen years old. You are in the highest insurance bracket.:bunny:

Absolutely! Your age is your main disadvantage no matter what you plan on driving, and if you can get insurance on your own at all the higher "assigned risk" rate is what you'll pay at least for the first three years**. Being a new, inexperienced driver and principal driver of the car also counts against you, along with age and gender. I had it all against me, plus being a city resident was another negative factor. To give you an idea that it's true the rate will be the same no matter what you drive, I started out at 19 driving a brand new 1970 VW Beetle. Eighteen months later at 21 years old (still under the 3 year risk period) I traded it for a 1969 high performance Z-28 Camaro. Guess how much my insurance went up? Not so much as one cent!!! I was already paying the highest rate just to drive a Bug!

**Comment based solely on my experience living in Baltimore City, having to get my own insurance at 19 years old because my parents didn't drive or have a car. Rates and duration of assigned risk status may be different now and in localities other than where I resided.

~Pramrider

 

[FluffyFluffers]

No clue but my F-150 is about 2k every 6 months to insure for just me.... Fully.

 

[ballucanb]

Insureance is tough at your age the best way is to get on your parents policy, as a part time driver, that is what the new drivers do in our family then after you have more experince the price may go down alittle and you will be able to drop the full coverage.

I think they pay about 100 a month, slightly less than I pay on 4 cars 2 new cars with full coverage, I only keep libility on the Zo6, and the old miata.

But an insurance company would rather insure a honda than a cadillac because the cad will be an 8 cyl, your better off with the gas saver anyway 12-15 miles to a gallon isn't going to allow you to save money for insurance, like 30 will.

 

[MistuhFox]

I would imagine the Deville will be cheaper on insurance, simply for the fact that its much less often hotted up by kids that think they are kewl...althought the deville has far more hp, it isnt a tuner car per se. As an example, my 1990 Toyota Cressida was 50 dollars per month cheaper to insure then my 1987 Accord...and my Cressida by far was a faster car, tho again, not really one that is known for being riced out...as for the point some1 made about gas milage, if ur driving mostly highway, the deville might actually have a tad BETTER milage then the Accord. Id buy it myself, simply cause i hate Hondas and DeVilles are sleepers, noone expects to be outdragged by a grandpa car

 

[bobbyjeff]

Honda's typically have a higher insurance rate than comparable cars in my area due to having a high theft rate. You might want to look into the possibility of having you listed as a "secondary" driver on your parents insurance instead of trying to get into your own policy at first.

 

[bobbyjeff]

Delete this, my internet connection was full of fail.

 

[MistuhFox]

Honda's typically have a higher insurance rate than comparable cars in my area due to having a high theft rate. You might want to look into the possibility of having you listed as a "secondary" driver on your parents insurance instead of trying to get into your own policy at first.

lol DOUBLE POST
jus joking

 

[timmahtherebel]

Yeah... For my F250 and Geo Metro respectively cost me about $235.00 a month... but I have had my license since I turned 16...

The down payments the big thing...

And $235.00 is a whole paycheck for me...

Don't have a car right now...

 

[Ace]

That's a tough call on which is going to be cheaper, the Honda or the Caddy. My guess is that the Cadillac would be a little cheaper, possibly due to the fact that Honda Accords are among the most often stolen vehicle. If you don't put comprehensive (which is theft) on the Honda, then it will be a lot cheaper.

As for auto insurance, there's really three component's to it and here they are:

1. Liability - you have to have this. This is the coverage that will kick in if you hit another car and or injure another person. It is the law in every state to have this. I recommend going at least one level up from state minimum, it's not much more in premiums to get a lot more coverage. Like me for example, I have several times the minimum and it's only about $30 more every six months, so in my mind it's a good thing for me to have as I'm protected up to a much higher level.

2. Comprehensive: This is an optional coverage. If it's an older car that's not worth much money, you might not get it. This essentially covers you if the car is stolen. Also, it will cover you if your car is damaged by an accident that you did not cause like say a tree falls on your car.

3. Collision: This is likely one of the more expensive parts of your auto policy. This will help pay for repairs/replacement of your car if YOU cause an accident. If you are in an accident and it's clearly not your fault like if you are rear-ended, the other driver's insurance should pay. Collision is for if you cause the accident.

There's also other things like full glass coverage, underinsured/uninsured motorist coverage, etc. You need to decide if you need comprehensive and collision on your car. If you are making car payments, you will need all three. If not, it's your call.

As for how to insure it, talk with your parents about them being the owner of the car and listing you as an occasional driver. I did this when I was 16-17. I had a car, it was clearly for my use as I don't think my mother ever drove it and I think my dad may have driven it once. However it was in my parent's name on the title and I was listed as an occasional driver. This made the jump in insurance much less, and I paid them the difference. That might be your best bet.

 

[NEJay]

Ooh... Easy question...

1. Insurance. For comprehensive/collision, the Caddy will be cheaper, as it has a lower theft rate, cheaper repair parts, and an owner demographic that is less accident prone.

You will not want comprehensive/collision for either car... Only liability. Why? Because if you wreck either, they will be totalled and not worth fixing. These cars aren't worth more than a few grand each. The coverage cost for liability insurance will depend on a few things... Your age, gender, driving record, credit rating, and location. There is no way for us to tell you what it will cost for you.

2. The Caddy. It's got a 32v Northstar V8 and lots of electronic goodies, which is great... But the electronics aren't very reliable, and the Northstars LOVE to burn oil, and have a failure-prone alternator that they stuffed in the most ludicrous of places... Under the intake manifold in the middle of the vee. Nuts.

3. The Honda. If it's an automatic, RUN, don't walk away. The auto trans in these cars (especially with the V6) is one of the most failure prone units made in the last 30 years... Probably second only to the Chrysler Ultradrive. Otherwise, an Accord is bulletproof reliable, as long as it is a stick.