What Do You Pay For Car Insurance?

[badgate]

Your insurance would cost $1000 a month? Mine is a few hundred. Though technically I'm still under my parents, and I pay my dad with cash. Would it be $1000 a month if I were on my own? Yikes. I need a better job.

[Franzl]

WTF? I'm a 23 year old male and pay 400€ a year.

[The world will shine with light in our nightmare]

A number of states require you to have car insurance, my state being one of them.

[Nhoj]

What are you doing driving a brand new sports car? It really shouldn't cost you a $1000 a month.

[Paul Kemp]

(23 year old)

PPOR

And as someone who drives a car with a high insurance rate, $1000? what the hell.

[DC Al Fine]

Something's up with DD's situation. Either he has a Cadillac plan, a really expensive car, a poor driving record, or he REALLY needs to change insurance companies.

[badgate]

My post is now the first in the thread. For those just joining us, the original post seems to have been deleted. I was replying to him/her.

[Dave from Michigan]

$1000 dollars a month where do you live Detroit? Probably not it would probably be higher if you did. Even Michigan has high car insurance.

[Paul Kemp]

$1000 dollars a month where do you live Detroit? Probably not it would probably be higher if you did. Even Michigan has high car insurance.

$1000 a month high? I don't believe this...

[Atlas Has Shrugged]

Mandatory car insurance has not brought down the price of car insurance in Florida at all. It is still quite expensive.

[Tetro Kornbluth]

This thread has been a most revealing exercise in Psychoanalysis. Thanks everyone.

Oh, btw, don't want to pay Car Insurance? The answer is simple: Don't bother driving.

[Cory]

Oh, btw, don't want to pay Car Insurance? The answer is simple: Don't bother driving.

Things don't work that way in America. Not everyone lives in a big city.

[Indy Texas]

This thread has been a most revealing exercise in Psychoanalysis. Thanks everyone.

Oh, btw, don't want to pay Car Insurance? The answer is simple: Don't bother driving.

This is the foolish argument ACA Haters use when asked why they're fine with mandatory car insurance but not mandatory health insurance.

[Tetro Kornbluth]

Oh, btw, don't want to pay Car Insurance? The answer is simple: Don't bother driving.

Things don't work that way in America. Not everyone lives in a big city.

I'm thinking of a Karl Marx quote on the purpose of philosophy.

[Tender Branson]

Car insurance here costs about twice of what you have to pay in Germany for the same car.

I have a 105PS car and have to pay 1200€ a year for insurance costs (comprehensive coverage + accident + legal protection insurance).

[dead0man]

I haven't looked at the breakdown in a couple of years, but we pay $130~ a month for full coverage ($250 deductable) on two newish cars AND $500k of term life for me.  If it was up to me the deductable would be higher and it would only be full coverage on one car.

[angus]

I think we pay about $500 every six months for two cars.  Not sure how it works out for each car, but probably something like $500 per year per car.  I think it includes 15/30 liability, collision, comprehensive, notstacked 15/30 uninsured and underinsured motorist protection, and some first-party medical expenses.  I think we opted not to get the towing or the high-tort option.

[Franzl]

Car insurance here costs about twice of what you have to pay in Germany for the same car.

I have a 105PS car and have to pay 1200€ a year for insurance costs (comprehensive coverage + accident + legal protection insurance).

Wow that's pretty high...

[Grumpier Than Uncle Joe]

I think we pay about $500 every six months for two cars.  Not sure how it works out for each car, but probably something like $500 per year per car.  I think it includes 15/30 liability, collision, comprehensive, notstacked 15/30 uninsured and underinsured motorist protection, and some first-party medical expenses.  I think we opted not to get the towing or the high-tort option.

15/30 is too low given your position in life at the moment. If you were 16 and impecunious, ok.

[angus]

I think we pay about $500 every six months for two cars.  Not sure how it works out for each car, but probably something like $500 per year per car.  I think it includes 15/30 liability, collision, comprehensive, notstacked 15/30 uninsured and underinsured motorist protection, and some first-party medical expenses.  I think we opted not to get the towing or the high-tort option.

15/30 is too low given your position in life at the moment. If you were 16 and impecunious, ok.

Is it, now?  I supposed that if I plowed into a Lamborghini it would be too low.  What do you think a reasonable amount would be?  Funny thing is that in Iowa 20/40 Liability was required by law, but here, 15/30 is required by law.  My own coverage has higher limits.  I can't remember exactly what they are, but it's enough to cover either car. 

[Grumpier Than Uncle Joe]

I think we pay about $500 every six months for two cars.  Not sure how it works out for each car, but probably something like $500 per year per car.  I think it includes 15/30 liability, collision, comprehensive, notstacked 15/30 uninsured and underinsured motorist protection, and some first-party medical expenses.  I think we opted not to get the towing or the high-tort option.

15/30 is too low given your position in life at the moment. If you were 16 and impecunious, ok.

Is it, now?  I supposed that if I plowed into a Lamborghini it would be too low.  What do you think a reasonable amount would be?  Funny thing is that in Iowa 20/40 Liability was required by law, but here, 15/30 is required by law.  My own coverage has higher limits.  I can't remember exactly what they are, but it's enough to cover either car. 

You need, and I sincerely mean need, 100/300 for bodily injury, because if you hurt me in a car accident with 15/30 you'll have to empty every account you have to pay me. 50 property damage should be fine.

[True Federalist (진정한 연방 주의자)]

Yeah, you do not want to be in the situation of having too little insurance.  I found about that indirectly the hard way when I got into a multi-vehicle accident with a rented U-haul truck which punted a jeep atop another vehicle. (Thankfully, I didn't punt the vehicle onto the jeep, that could have been even more unfortunate.)  My own personal insurance was considered secondary to the primary insurance on the truck itself which was a bare minimum policy for understandable reasons. However, since it was the primary, the U-haul insurance had zero incentive to settle the claim since no matter what they were going to paying the limit, so they dragged it out until a court date was set.  In the mean time I had moved, so I had to waste two full days, one getting there and one twiddling my thumbs and then going back home once the insurers had settled the claim while the jury was being selected. (My own insurer was willing to settle sooner, but couldn't until the primary had paid its share of the claims against me.)  I also just barely had enough even with the double coverage (my own was more than the minimum, but not 100/300). That was over twenty-five years ago and everything is more expensive these days, especially medical bills.

[Franzl]

Even $100,000 seems rather low.

My 400€ a year pöan is for 10 million, I believe.

[Grumpier Than Uncle Joe]

Even $100,000 seems rather low.

My 400€ a year pöan is for 10 million, I believe.

Most companies in Pennsylvania will give you $1 million maximum. Angus does not want to buy very high limits but I certainly encourage them to buy more than the minimum. The limit I suggested is the minimum he should have. 

[Franknburger]

We just checked and changed out insurance by the end of last year. Our first car, a three-years old Toyota Yaris (90 PS, I believe), is some 300 Euros annually (10 m€ liability, theft, and game accidents with 250€ own contribution). Only me and my wife may drive it.
On the second one, an 11 yr. old Renault Kangoo, we have included our 19 year old daughter, which made premiums rise considerably. It is only liability (10 m€), and we pay some 350€ per year now.

In general, the market in Germany is quite intransparent (or differentiated, if you want to call it that way). We benefit, a.o., from parking the cars on our own premises (parking accidents on public roads appear to be a major issue for insurers), a long-term record of having driven without accidents, and, in my case, the fact that I turned 50 last year (some insurers apparently think that drivers between 50 and 60 carry a lower risk). Children in the household (parents drive more carefully), motorist association membership, and dozens of other factors also play a role, in addition to car model and the county you are living in.

While  I am prepared to exclude various risks, there is no way I would ever go for limited liability coverage. "Unlimited coverage", which technically is 10m€ maximum coverage, is a must to me.