Cheap Monthly Car Insurance

Questions and Answers

Your Questions About Cheap Monthly Car Insurance Payments

May 27, 2013

Thomas asks…

What would the insurance cost for a citreon saxo?

I’m nearly 17 and i’m most probably getting a citroen saxo, a second hand one, something cheap. I was just wondering how much the insurance might costs roughly. Thankss

Administrator answers:

Minimum £2000, average £2500 and £3000 plus is possible.

There are many factors which are used by the insurer to calculate the risk and so the premium they charge for car insurance – these are mainly;
1 Age and sex of the policyholder (who must be the Main driver, and registered keeper) and that of any additional drivers.
2. The cars age, mileage, value, insurance group, security and the companies own claims history for that vehicle
3. The occupation of the policyholder and any named drivers
4. The claims history of any drivers
5. The licence details of drivers (endorsements, length of time held)
6. Where the car is normally kept overnight (is it the policyholders address? On road is more expensive than on a drive which is more expensive than in a locked garage.
7. What use will the car be insured for, social and domestic is the minimum but if commuting and use for the policyholders business or their employers business is added the price increases. If used to commute where is the car to be parked when there – on road or in a car park.
8. Does the car have any modifications from the standard factory fresh condition like alloy wheels or performance enhancements – some insurers will refuse to cover modified cars, some will increase the price and some will cover them but only for return to standard.
You need to tell the full truth about everything asked and inform them of any changes to any of the details disclosed as the policy goes on – failing to do that can render it null and void.

Some younger drivers consider putting the car and insurance in a parents name with the parent as a fraudulent main driver and them as an occasional named driver to cut the premiums. This common scam is called “Fronting” and is an illegal act which can get parent and son/daughter into a lot of long lasting expensive troubles.

Most insurers offer a monthly payment scheme and most need about 15% up front to start the cover. The scheme is usually in the form of a loan and so interest is charged – this can be as much as 25% APR. This is usually at rate which is higher than most credit cards even charge so look at other ways to borrow the money to spread the cost if possible as it will be cheaper.

With a few minor differences these are the questions you will be asked before being given a quote. Not having supplied these details on Yahoo Answers, and who would, it is impossible to give a guess of a price for you to within even £1000 for a younger newly qualified driver.

Nancy asks…

What is the typical monthly budget for a family in the US?

I have a quite good possibility of moving into the U.S. so I would like to know how much I should earn to live there, free of worries.

Administrator answers:

Well, that all depends on how many people are in your family, where you are going to live, and how nice of a place you want to live in. Not all places in the U.S. Are the same. Even within each city there are slums and nice areas. Here are some the least-expensive examples, though:

1. You are a single person using public transportation (ride the bus)
- Average type city (not New York expensive, and not Detroit cheap)
- Decent 1 bedroom apartment (not a slum, but not the nicest) – $500/month (water/sewer included)
- Electricity – $150/month
- Phone/Internet – $50/month
- Transportation (bus) $75/month
- Food (not eating out) – $300/month (including other grocery expenses like toiletries)
– Total = $925/month – does not include anything for entertainment or other expenses (bare bones)

2. You are married with 1 child – own a car.
- Average type city (not New York expensive, and not Detroit cheap)
- Decent 2 bedroom apartment (not a slum, but not the nicest) – $650/month (water/sewer included)
- Electricity – $175/month
- Phone/Internet – $50/month
- Transportation (used but reliable car) – $400/month (including payment/insurance/gas)
- Food (not eating out) – $600/month (including other grocery expenses like toiletries)
- Total = $1875/month – does not include anything for entertainment or other expenses (bare bones)

NOTES:
A. If you are single, you can always share an apartment with another single person in order to save apartment/utility expenses, but Americans are not always the easiest persons to live with! ;-)
B. Don’t forget about other expenses not listed above – pets, friends, movies, things that break, etc.

Mary asks…

Does anyone know any good anad affordable insurance for first time drivers in the state of Florida.?

I’m 22 years old and I’m a first time driver, and I just got my car. I was wondering if anyone knew of any affordable auto insurance in the state of Florida, that wouldn’t cost too much to put down, and the monthly payments low?

Administrator answers:

First time drivers are an unknown quantity, having no driving record to go by. It’s like asking the credit rating of a new business. All you can do it find an independent agent, and ask them to search for the best deal for you, based on your information. It will NOT be cheap.

Michael asks…

How many times has your Bank checked your auto insurance?

Im looking to get another vehicle, and the full coverage insurance is just too high. I dont want to take collision and comprehensive becuase the cost is too high, but comprehensive alone is relatively affordable. My question is, will Capital One auto finance call and check my insurance to see if I have full coverage-if so how often do they do this…. and what happens if they find that I only have comprehensive? Will they reposses, has anyone had this happen to them be it Captial One or any other lender?

BTW, If I was to have an at fault wreck, I would still continue to pay my monthly payment because its relatively cheap.

Administrator answers:

By law, if your car is financed through someone, you must carry comp and collision. Sometimes you can decide the deductible you will pay in case of an accident, and sometimes the bank tells you what they require. That can affect your monthly insurance payment, because the higher your deductible, the lower your insurance payment. The bank can call the insurance company any time they want (and believe me, they do), and the insurance company has to let the bank know if there is ANY change in your coverage (like if you drop collision, for instance).

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