wayne@justicenet.net wrote:
> Well I was all set to get a new 98 Dak with the SLT+ package and all
> the bells & whistles. V8 and 2 wheel drive. All for the low price of
> $19,400. Then I went to my insurance company... I have 1 measly
> little speeding ticket (67 in a 55) and they look at me and laughed!
> It would be $257 a MONTH on top of a $400 per month payment.
> So I am looking at a 94 V6 auto, only $14,300 with a $150 monthly
> insurance bill. Any thoughts on that?
>
> ~ Wayne ~
Interesting thread! I work in the auto/hab insurance industry(Can.)
and have great insight regarding premiums that you're quoted. Actually,
I program insurance rating software that calculates your premiums. Your
location of residence is the greatest factor in determining your
premium. Age, sex(over-hyped) and driving record are next influencial
but not necessarily in that order. Generally speaking, drivers under
the age of 21 get stiffed with high premiums because they're higher
risk. Up here in Canada, the magic age to achieve good rates is 25. This
of course means nothing if you have a at-fault claim(accident). A
accident is the worst possible factor to affect your premiums. If your
accident is not forgiven, then your driving record could drop to 0 and
watch your premiums triple. One speeding ticket should have little to no
affect on your premiums. Your premiums are influenced by 3 main factors
relative to place of residence , driving class(age & sex & distance
travellled daily driven), driving record(years insured), vehicle rate
group. The higher numerically the first & third factors are, the more
you pay. You want the second factor to be high. None of this may apply
in the US but I would imagine a similar system would be in place. The
bottom line is to shop around as there is always a better deal to be
found!
*NOTE: None of the above reflects the beliefs or opinion of my employer!
Terry
This archive was generated by hypermail 2b29 : Fri Jun 20 2003 - 12:08:01 EDT