buying first car, need cheap insurance

[lindjung]

im 19 getting my first car 2005 hyundai sonata v6, gotta start calling insurance companies tomorrow, can anyone tell me of some really cheap ones, i dont care about coverage, i want the minimum payment possible

[CS-Source-ChallengeME!]

in the same situation. im 18.

searched around and the best i found was statefarm with 4800/year

[VivienM]

i dont care about coverage, i want the minimum payment possible

Read the thread about the guy who had an accident and is up to $10500 in repairs paid out of his own pocket because he didn't get collision insurance.

A 2005 car is new enough that, unless you're a total fool (in which case you are proving why the insurance industry hates 19 year olds), you probably shouldn't gamble on having a liability-only policy.

[Justin C]

I believe the Sonata is actually pretty cheap to ensure so hopefully you won't have any trouble finding a good rate.

Check Kanetix.ca and then call the top few results for a real quote. I got the best deal from RBC and they beat the price that Kanetix gave me (still RBC).

[weedb0y]

Read the thread about the guy who had an accident and is up to $10500 in repairs paid out of his own pocket because he didn't get collision insurance.

A 2005 car is new enough that, unless you're a total fool (in which case you are proving why the insurance industry hates 19 year olds), you probably shouldn't gamble on having a liability-only policy.

Agree. I feel bad for that guy, technically speaking, if he had over 20 something to plunge down in cold hard cash, then I am sure he could easily afford full coverage.

On the other hand, if you are driving a car worth <$5000, I would go with liability only.

[scouzer]

im 19 getting my first car 2005 hyundai sonata v6, gotta start calling insurance companies tomorrow, can anyone tell me of some really cheap ones, i dont care about coverage, i want the minimum payment possible

also remember if you have a car payment you are required to have collision with low deductibles. if that's the case, expect no less than $5,000 a year.

[VivienM]

Agree. I feel bad for that guy, technically speaking, if he had over 20 something to plunge down in cold hard cash, then I am sure he could easily afford full coverage.

On the other hand, if you are driving a car worth <$5000, I would go with liability only.

I'm not sure I'd set $5000 as the threshold, but yes, I agree. I do hope a 2005 Sonata is worth more than $5K, otherwise that means it depreciated even more than a GM...

[scouzer]

I'm not sure I'd set $5000 as the threshold, but yes, I agree. I do hope a 2005 Sonata is worth more than $5K, otherwise that means it depreciated even more than a GM...

Hyundais do depreciate a lot more than a GM...

[VivienM]

Hyundais do depreciate a lot more than a GM...

Given how much GMs depreciate, then that would be just sad, if true...

[KawaiiTentacleBeast]

A new Sonata V6 is $26k. I think a 2005 is going to be worth a bit more than $5k.

That being said, I personally would still buy liability only. Risk appetite is everything.

[sonyminidiscman]

You should still check how much more full coverage is compared with liability only... didn't make too much of a difference to me... like 300 bucks a year...