Cheap Monthly Car Insurance

Questions and Answers

Your Questions About Cheap Car Insurance Pay Monthly

June 21, 2013

Linda asks…

Why is car insurance more expensive based on age than value?

I am trying to shop for a new car but I want to know if I can manage the monthly expenses such as insurance and gas. I am interested in the 2011 Nissan Altima 2.5 S Coupe the Kelley Blue book value for the car is $17,000. The car has really good gas but I was shock to see the estimated quote for car insurance to be over a $100 a month. I was also interested in the 2008 Lexus IS 250 and the Kelley Blue Book value is $21,000. The gas for the car is okay but not as good as the nissan but the estimated car insurance quote to my surprise was only $45 a month. That doesn’t really make any sense shouldn’t it be more expensive since the car is worth more?

Administrator answers:

There are two parts to car insurance – the part for the damage to your car, which obviously is limited, to the value of THAT car, and the part for the damages you do to everyone else, in every accident you might have during a year.

You can only total your car once. Theoretically, you could have more than 300 accidents during that policy year, each of them paying out the policy limit.

Because of that, liability insurance has a much higher potential to pay out more money.

Also, cars depreciate the most, the first four years. After that, they depreciate much more slowly. Also keep in mind, insurance doesn’t pay out RETAIL value.

Liability insurance, should pretty much cost the same, regardless of what vehicle you have – the only differences would be for safety devices like airbags, which are pretty standard on most newer cars. Physical damage is the coverage where you can see a lot of value, and you’ll see MOST of the cost in new cars, where parts have to be purchased new. If you have a partial loss in that Lexus, you’ll be getting junkyard Lexus parts – much cheaper than the new parts you’ll need on that NIssan.

Chris asks…

How to stop the direct debit car insurance and switch to another?

I want to stop my current policy with RAC.. and switch to another car insurance which is cheaper.

How do I go about doing this? I pay monthy.
If I switch, can I still keep my no claim bonus.. 8 yrs..

Administrator answers:

You phone them and ask how do i go about cancelling my policy and they will tell you but you may or may not have something to pay when i cancelled my policy’s before i have had nothing to pay because i have payed monthly but ask about your no claims bonus if you loose it or not and find out if it will cost you some money some times its £35 i think :/ … Hope ive helped :D SEE LINK —> http://help.rac.co.uk/help/faqs_external/car_insurance/cancel-car-insurance-policy

Ken asks…

How to make $200 a month without a job?

I’m 16, and I’m trying to earn money to pay for monthly car insurance. Unfortunately due to my schedule , getting a job doesn’t work out for me right now. Insurance is $200/month and I’ve tried babysitting, but it just doesn’t cut it. Suggestions? Thanks!
Yeah thanks for the help. Good to know that I can’t try making any extra cash without being illegal/immoral/or stupid.

Administrator answers:

What i do to make some extra monety on the side is a find valuable things on craigslist or something that i find very cheap, and sell them for double the prophit

Lizzie asks…

how does car insurance work? do u have to pay for it monthly?

i’m buying my first car and am confused as to how car insurance works. i know its better to have insurance before driving your car off the lot but how does insurance work? do you pay insurance monthly liek you do for a car note?

Administrator answers:

” i know its better to have insurance before driving your car off the lot….”, No you MUST have insurance before driving even one inch….. Anywhere. You need to brush up on how insurance works. I suggest that visit an Insurance agent and ask him to explain. Insurance can be paid monthly but is is more expensive to pay that way and often you must pay for an entire year even if you want to cancel after a week or so. A six month or yearly policy is cheaper and can be canceled at anytime with the unused portion refunded to you.

Michael asks…

Is there a less expensive auto insurance carrier other than Progressive?

I have a male friend who is middle aged & is paying close to $400 monthly for full coverage on his auto insurance that he has with Progressive. Does anyone else seem to think that this is a lot of money? Can anyone suggest a less expensive car insurance carrier? I thank you in advance for your positive responses. Have a great day!!

Administrator answers:

The only way your friend or you or me can find a less expensive insurer is to call around and get several quotes. The company that is cheapest for one could be the highest for another.

Helen asks…

How much does your husband or boyfriend contribute with monthly expenses?

I’m talking about the ladies who work :) do you two split it 50/50 or 70/30?
My friend works also but her husband pays for everything, she just pays her own insurance, and car insurance and something else but that’s all. The rest she uses on herself

Administrator answers:

We each keep our own checking account but we split the bills for our household equally. We each have our own auto and it is up to us to pay for it minor up keeps and fuel bills, tags, & insurances on our own auto even though we have it all with same policy. Now I’m lucky to the fact that my husband of 39 years like change our oils and filters and doing the small upkeep on our autos so all I have to do is pay for the products. I buy our insurance because it is cheap and better coverage at my work. I buy the grocery and we share the cost of that as well. He likes to do some cooking so I try to buy at least 2 meals that he will fix. We make menu for the week before I grocery shop as well to save money. But long ago we found out keeping separate account worked better for us and over-drafting and stuff like that stop happen but as my grandmother told us do what work better for you as a couple. Personally I don’t need him know where I spend ever penny at or do I need that knowledge of how he did either. If I speed 30 dollars at the beauty salon so what if he only spend 15. This is how I feel personally that as long as we keep all bills payed and a few bucks going to some sort of saving the rest is for us to do with as we see fit. Beside I’m a better saver then he is and that always bug me that he could go through money so much faster than I could. I also Christmas shop all year long for our family or make items like crochet items or quilting things. I also birthday shop about the same way. My hobby items I pay for even if I give them as gifts. No big deal. Only on very special gift to we actually split the bill. Like special wedding gift or something like that.

We also share household and yard chores as well. If I cook he cleans, I do laundry and he cleans bathrooms, we both clean bedrooms and living room. We both work on the yard and I like to garden but he doesn’t no big deal.

Donald asks…

How much do you pay total in monthly bills?

How many people in your house:
Location:

Monthly Bills-
Internet:
Phone:
Cable:
Cell Phones:
Water:
Electricity:
Gas:
Car Insurance:
Other:

Feel free to add any other monthly expenses that you pay.

Administrator answers:

4 roomates
fort worth texas

rent 296 ( i dont have my own room. Thats why its so cheap)
internet 25
cell phone 130
water $20
electricity $70-150
gas $200
car insurance- the only thing my parents pay
credit cards 50-100 ahhh i need to stop using it
doctors/med/health 100
TOTAL- about $1000

this does not include food (another 100 bucks or so), my dog, shopping, or entertainment.

Bank of america’s my portfolio creates reports for you based on your spending. Its AMAZING.

I’m am suddenly very sad to see where all my $ goes.

Joseph asks…

How much does car insurance cost for 21yr old, is it monthly or yearly?

I am new to US. I stay in Los Angeles, CA. I have never driven before. And I am talking about a pre-owned car probably a 90s or 2000 model of toyota.
Would appreciate if you’d answer with an estimate.

Administrator answers:

No one here knows. The best and the cheapest will be the company you find after you get several quotes. Nobody else knows what an insurance company’s premium would be except the insurance company. You MUST get quotes.

Pay for the longest term offered. Paying monthly is always more expensive

Mark asks…

How much do you need in Copenhagen to survive?

Lets say you pay a rent for 2 bedroom flat, you need to pay the bills, car insurance (for the average car like Ford Focus 1.6), buy food and commute to work + some entertainment?

Administrator answers:

Vibeke J is about right i would say maybe a little more,

apartment 8,000kr, give or take depending on where you want to live closer to the centre than maybe more money. Heating , electricity, water, 2, 000 per month. Insurance at least 500 per month, the car will be the expensive part, are you going to buy it here, then I hope you have seen the prices of even older cars. Parking is expensive if you are going to drive to work, fuel around 12kr per ltr, if you are using transport bus train then you can get monthly tickets. They will save you money.

Food just for you or a family, for you around 2,000kr for a family around 4,000 eating out can be cheap (Danish prices) 150-200kr McDonalds around 70kr. It just really depends on entertainment you are talking about.

As you can see there is not a lot left from Vibeke J estimate, may some of the prices I have given you are out, but its expensive. If you are looking for a living wage then remember you pay over 45% tax, more if you include other things.

Good luck

RR

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