NF Insurance for brand new drivers

[davey buoy]

In a past thread We talked about the G1,G2,G graduated licensing system. Well my oldest son if all goes well,gets his G2 test in a week and a half.

He is 23 now,24 end of January.We made two calls for quotes on car insurance. The first $7,749 a year,the second $7,123 a year.

Wow, I get the brand new driver thing,but he has a chance to get a 2003 4 door Mazda sedan for a real decent price,certified,e-tested,no rust etc. Wants to buy it cash to not have another monthly bill. The first quote works out to $646 a month and that is PLPD only,nothing else.

That's more than his rent a month. How do young people afford a new car,payments,full coverage of insurance,rent etc. Boggles the mind. Doesn't help he lives and works in TO.

Anyone else been through this insurance bull with any of there kids recently?,and anyone know of a company or two with better rates?

Any help would be appreciated.

On a side note my youngest goes for his G2 a week later.He's 19,can't even imagine his rates.

[jayess]

I was a career student until 25 and having done the later degrees in Toronto, I didn't need a car. Aside from putting off driving until 25 (supposedly rates significantly drop off at this age), it's really tough on young drivers.

 

I wish I could say i've heard of a solution aside from waiting or going for an M1 instead.

[Joeytier]

Wow, that is truly awful. My first year of insurance [at age 20] was around $4000/year with a 2002 Tundra. How is his so much higher?

[bare foot wader]

he needs driving experience on his own insurance plan...TO doesn't help...the rumour/myth about dropping rates when you suddenly become more mature at the age of 25 isn't true either (at least not for me, with a squeaky clean record)

 

the cheapest solution for your 19 yr old, assuming he lives at home, is dad is primary and son is secondary driver...cheapest rate that way, after 1-2 years switch over to his own plan...if you're willing to risk your rates assuming he won't cause a claim

 

and I would've loved to find rent cheaper than 646 when i was in TO!!

Edited December 5, 2012 by bare foot wader

[workwear]

it is insane!!!totally insane....my daughter insurance rates are close to 3200 a yr...she is the principle driver on the car....that hurt!!

 

well my son just started driving and as an occasional driver I AM PAYIN 1800 a yr for him...

 

one thing i wonder tho is....why is it so cheap for insurance in the states...and why dont american companies come north and give us great deals...

[workwear]

oh by the way shop your insurance around...go to insurancehotline.com...you would be amazed on rates

 

ive learned to never be loyal to any insurance company..i check every year at renewal time...and i manage to save

 

good luck

Edited December 5, 2012 by workwear

[davey buoy]

he needs driving experience on his own insurance plan...TO doesn't help...the rumour/myth about dropping rates when you suddenly become more mature at the age of 25 isn't true either (at least not for me, with a squeaky clean record)

 

the cheapest solution for your 19 yr old, assuming he lives at home, is dad is primary and son is secondary driver...cheapest rate that way, after 1-2 years switch over to his own plan...if you're willing to risk your rates assuming he won't cause a claim

 

and I would've loved to find rent cheaper than 646 when i was in TO!!

 

The younger goes to college in TO as well. Only in his first year,2 more after that. He'll probably come home for the summer and maybe do the occasional driver on one of my vehicles. He has no plans for a vehicle till his schooling is done.

[davey buoy]

oh by the way shop your insurance around...go to insurancehotline.com...you would be amazed on rates

 

ive learned to never be loyal to any insurance company..i check every year at renewal time...and i manage to save

 

good luck

 

Thanks,were far from finished looking,will check out insurance hotline.

[Roy]

Well how much is auto insurance in Ontario for a person with a clean record...45 years old,, driving umm say a new Corolla or any car in that price range? Is it that outrageous?

[workwear]

wife drives an 2008 altima....clean record...pays bout 1500.....same car same scenario state side..600....why!!!!

[BillM]

No need for full coverage on a 2003 anything. If he works and lives in Toronto, he should be making Toronto wages. If not, then he really needs to think about moving.

[davey buoy]

Well how much is auto insurance in Ontario for a person with a clean record...45 years old,, driving umm say a new Corolla or any car in that price range? Is it that outrageous?

 

Well Roy,I'm 51,First vehicle is a 2008 cx7 turbo,all wheel drive fully insured.Second 99 4x4explorer sport PLPD only. $216 per month for both.Two drivers,my wife or I either vehicle.I think the young fellows are getting a bad rap without even proving themselves first. Not fair IMO.

Edited December 5, 2012 by davey buoy

[davey buoy]

No need for full coverage on a 2003 anything. If he works and lives in Toronto, he should be making Toronto wages. If not, then he really needs to think about moving.

 

That's just PLPD Bill

[Muskieman]

I've recently been told that the car is insured not the driver , so if my 18 year old neighbor borrows my Expedition he's covered ... Same as if I were to borrow someone else's car ... ? Anyway my 2000 Expy, 08 Mazda 6 ( both fully covered with a 6A endorsement ) is 886$/yr ..

[workwear]

your partially right randy....IF your daughter lives with you...you HAVE to report her on your policy....but if she reside some where else she doesnt need to be disclosed and yes she is covered..

[BillM]

That's just PLPD Bill

 

Ouch. Unfortunately he's got way too many strikes against him.

 

New driver

Male

Living in Toronto

Own car.

[aplumma]

Insurance in the States can be expensive depending on what area you live in. I would be charged $200.00 difference if I lived just one county over. The big breaks here are age 21, Married and no tickets. We also get discounts for the number of things you insure with the company. I would think it is similar up North?

 

 

Art

[irishfield]

Roy.. I have FULL coverage on my F150.. replacement (as it's financed) etc. It also has my youngest down as an occasional driver "at school"... $1100/YEAR!

 

Davey Buoy... there are bonuses in having kids that want to drive at 16!.. and having them listed as occasional drivers since, to show continueous insurability before they go out on their own. If that fails.. make sure his drivers licence is changed to a new address and he "borrowed" your car!

Edited December 5, 2012 by irishfield

[davey buoy]

Insurance in the States can be expensive depending on what area you live in. I would be charged $200.00 difference if I lived just one county over. The big breaks here are age 21, Married and no tickets. We also get discounts for the number of things you insure with the company. I would think it is similar up North?

 

 

Art

 

Somewhat similar here,25 WAS the magic number,no tickets,accidents as well, multi vehicle discount or a discount for adding home,boat etc.

[davey buoy]

Roy.. I have FULL coverage on my F150.. replacement (as it's financed) etc. It also has my youngest down as an occasional driver "at school"... $1100/YEAR!

 

Davey Buoy... there are bonuses in have kids that want to drive at 16!.. and having them listed as occasional drivers since, to show continueous insurability before they go out on their own. If that fails.. make sure his drivers licence is changed to a new address and he "borrowed" your car!

 

Funny,both were never interested Wayne,always found that odd, but now it looks as though they are paying the price.

[DRIFTER_016]

$1300/year for my 2005 Honda Pilot (full coverage) and my 2008 Yamaha RS Venture snowmobile (PLPD).

They want an extra $800/year for collision on the sled.

Seems people wreck snowmobiles all the time.

[Roy]

I pay $1021. taxes i per year for 2010 Corolla and a 2005 Jimmy. Two main drivers. And all coverage.

[davey buoy]

I pay $1021. taxes i per year for 2010 Corolla and a 2005 Jimmy. Two main drivers. And all coverage.

 

That's well under a hundred bucks for two vehicles a month.I'd say your getting a good deal!!!!!!!!!!

[BillM]

That's well under a hundred bucks for two vehicles a month.I'd say your getting a good deal!!!!!!!!!!

 

Of course he is, look at the province he lives in..

 

Wouldn't get that deal in Ontario, lol.

[nofish4me]

22 year old daughter, just bought a 2010 Honda Civic, fully loaded.

 

$175.00 a month on her own, finally. $1000 dollar deductible.

 

 

Got her g1 at 16. Clean driving record for the last 6 years. Hardly drove at all, but clean record. Hehehe

Edited December 5, 2012 by nofish4me