How to know insurance rate before buying?

Call your insurance company and ask for a quote first before purchase.

Easy call your current insurer and ask, or call a broker for a quote, you could also check online quotes but the first 2 opetions are better in my opinion.

GuddaKaka wrote: ↑ I drive 17 years old Honda Civic and pay 145 per month for auto insurance. I am looking to buy Honda Pilot 2020 or 2021 model when COVID lock-down is over. However, I am worried about insurance rates. Will my insurance increase or decrease? Is there a chance it increases by say 100 dollars?

You're going to replace a 17-year old car with a brand new one, and you're not sure if your insurance rate will go up or down?

you're purchasing a newer vehicle, yes, the rate will be more.
call your Broker for a quote

GuddaKaka wrote: ↑ I drive 17 years old Honda Civic and pay 145 per month for auto insurance. I am looking to buy Honda Pilot 2020 or 2021 model when COVID lock-down is over. However, I am worried about insurance rates. Will my insurance increase or decrease? Is there a chance it increases by say 100 dollars?

COSMIC5 wrote: ↑ you're purchasing a newer vehicle, yes, the rate will be more.
call your Broker for a quote

Not true, you could buy a 100k car and the insurance can still be around $100 per month.

Just to add: get a VIN from the exact car you're thinking about buying (or the same model) and use that for a quote.

When I've tried to get quotes based off just telling them the model name/options, they've sometimes given incorrect answers.

ok ..... with a vehicle with that value, most likely will have either a 2500 deductible or a 5000 deductible.. so ya, maybe premium will be close....
so 100/ mo for a 100,000 vehicle, and a 17 yr old vehicle buddy's paying 145? mmmk

shabby wrote: ↑ Not true, you could buy a 100k car and the insurance can still be around $100 per month.

COSMIC5 wrote: ↑ so 100/ mo for a 100,000 vehicle, and a 17 yr old vehicle buddy's paying 145? mmmk

You're not really paying for the value of the car, even if you had a 30 year old k-car worth $5 you'd still be paying 100-150 a month.
You're more likely to get into an accident in an old car with no safety features and useless brakes than a new car with abs and emergency braking.

cool

shabby wrote: ↑ You're not really paying for the value of the car, even if you had a 30 year old k-car worth $5 you'd still be paying 100-150 a month.
You're more likely to get into an accident in an old car with no safety features and useless brakes than a new car with abs and emergency braking.

Just get as many quotes as is practically possible for you... You have the time.... Choose the cheapest.... These days, who knows if it's cheaper or more expensive... Some insurer might be willing to gain share, but a lot of them just plug in actuarial numbers that won't make sense to us non actuaries... Personally, I just go with the cheapest but unfortunately (or fortunately) no insurer has beaten my group rate for the past decade despite getting quotes every year from brokers , kanetix, etc... At best it's been a few $ difference, if at all (eg $10-20/yr) and i probably lose my driving protector record if I switch...

shabby wrote: ↑ You're not really paying for the value of the car, even if you had a 30 year old k-car worth $5 you'd still be paying 100-150 a month.
You're more likely to get into an accident in an old car with no safety features and useless brakes than a new car with abs and emergency braking.

I like how you're arguing with an insurance brokers that deals with stuff like this multiple times a day.

Your trail of thought is that the offset of Accident Benefit might cost more than Collision and Comp coverage, but you're forgetting new cars cost more to repair, AEB sensors, radar sensors for adaptive cruise control, etc. And you also need to factor in replacement cost of a $50k car vs a $3k car. And while logically it makes sense to you, that's not how ratings are done in insurance. Rating algorithm takes in Claims data, and this includes vehicle rate groups that differentiates between different cars.

thephenom wrote: ↑ Your trail of thought...

Is simply on experience, two people in my family with a benz and xc90 are paying in the low $100's, while i'm paying $140 for a 14 year old pontiac.

This is a good reference to compare 2 vehicles of the same year/class/price:

http://www.ibc.ca/on/auto/buying-auto-i ... measure-up

so many factors as the above user stated... you are also more than likely a different age bracket than the other drivers plus they possibly have discounts applied that you do not qualify for.
for example. my mom... drives a brand new vehicle... pays like 86 a month... I drive an older vehicle, i pay more than 86 month... mom, gets an age discount.. me not so much...

shabby wrote: ↑ Is simply on experience, two people in my family with a benz and xc90 are paying in the low $100's, while i'm paying $140 for a 14 year old pontiac.

shabby wrote: ↑ Is simply on experience, two people in my family with a benz and xc90 are paying in the low $100's, while i'm paying $140 for a 14 year old pontiac.

So based on this super large sample size you are correct! Please continue with the anecdotal evidence :P

I guess there's two ways to do this:
1. (a) Call your insurance company and find out.
(b) Success/Profit/Party-time!

2. (a) Ask on RFD before doing anything.
(b) Have everyone tell you, "call your insurance company and find out".
(c) Go back to #1.

Seems like OP used second avenue here? lol

Also need to keep in mind that if you lease/finance a vehicle, the lender may require a certain level of insurance that you can ignore if you decide to purchase on your own. So yeah, you might be able to get cheap(er) insurance on a new expensive vehicle if you max out your deductible amount and get the bare minimum insurance, but if you wrap it around a lightpole on your drive home because you don't know how to drive, you'd be SOL.

C

In Ontario, most lessors and leinholders require the min of $1mil liability with the max deductible on collision & comp at $1000 each.

CNeufeld wrote: ↑ Also need to keep in mind that if you lease/finance a vehicle, the lender may require a certain level of insurance that you can ignore if you decide to purchase on your own. So yeah, you might be able to get cheap(er) insurance on a new expensive vehicle if you max out your deductible amount and get the bare minimum insurance, but if you wrap it around a lightpole on your drive home because you don't know how to drive, you'd be SOL.

C

I did call my insurance company a couple of months ago and they asked for VIN#.
How can I give VIN # before buying?