LF:Cheap Toronto Car Insurance

[garks]

im a 18 year old male, who has gotten my g2 lisence for exactly one year now
all i can afford is a $500.00 car at autotrader.ca
its a 1988 Toyota Corrola SR5 (2 door)
how much do you think insurance is going to cost?
(Please don't say $10000 for a $500 dollar car) Insurance prices are OUTRAGEOUS
can someone help me find a cheap insurance company?
around how much would i hafta pay per year?

[D-3vil]

im a 18 year old male, who has gotten my g2 lisence for exactly one year now
all i can afford is a $500.00 car at autotrader.ca
its a 1988 Toyota Corrola SR5 (2 door)
how much do you think insurance is going to cost?
(Please don't say $10000 for a $500 dollar car) Insurance prices are OUTRAGEOUS
can someone help me find a cheap insurance company?
around how much would i hafta pay per year?


You can get online quotes at www.insurancehotline.com (though I find them to be unusually high -- not my first choice).

Other quoting systems available online from www.melochemonnex.com (assuming you qualify for their group rates, they are among the very cheapest); RBC insurance; StateFarm insurance (they have a good student discount, about 10% (but they're not that cheap to begin with, so it all evens out in the end.

Your best bet is Meloche Monnex. But if you'd like cheaper insurance, I'd recommend getting another car, 2-dor coupe is hardly cheap to insure. In my many months of research (before I finally saved 35% of my old rate by switching to Monnex) I was considering buying a Mazda Protege, it was among the cheapest cars I found to insure (you could always also buy a van...lol)

[Boss_Scorpius]

I suggest you buy the car under your parent's name (your dad or your mother would be the owner). That way insurance will be way cheaper, and you can later on make car your own when you got your G license.

[ccdude]

RBC insurance or PC insurance lowest prices and online quotes

[SoNgMaN]

find a 4 door. that will save you money too. couple hundred a year. and being quoted $10000 on a $500 is possible, just get PL and PD ( public liability / public damage ) which is the minimum you need to drive. and depending on your driving history, location etc. you could be quoted $10000 i'm paying like $2800 a year for insurance, on a 90 VW GTi, i paid a little more then that for it. i live in toronto on my own and i'm 23 i get hosed. that was the cheapest i found out of probably 20-25 places i called of them i'd say 5-10 wouldn't even quote me, they said "we can't take on the liability at the moment". but good luck as the guy above me said try to get under your parents and check out PC insurance.

[garks]

for the $500 the insurance is going to cost $5000
=(
dont think i can afford that.
there not much difference between 2dr and 4dr not a huge difference, price still at 5XXX
i cant have my parents be primary cause we currently have a 98 maxima, and my dad is primary and my brother is secondary..my mom does not know how to drive.
unless theres a way to put my dad as primary for both the cars?

[thelefteyeguy]

hehe...primary on both.

[laptop-tech]

there's NO "cheap insurance company"..

You have to call several different companies, all brokers you can find in the newspapers, all those in the yellow pages and bug everyone around you until you find something you can afford.

Last year my insurance went from 1600.00 to only 3600.00...no accidents, no claims, no problems... then a friend of mine who works for HP told me about his group insurance and I managed to get mine for some 2900.00...then I moved from Toronto to Mississauga (and ALL my friends also got lower premiums after moving to a LXX postal code) and to my surprise my insurer raised my premium to 3100.00.....

My wife changed jobs and the new employer has a group insurance rate, so we switched again and now the premium was 2100.00....a thousand bucks in savings...

My advice : check ALL major companies, like RBC, ING, CIBC, Co-Operators but also make sure you call those brokers that advertise in the classifieds.

And keep in mind that the ONLY way to get a lower insurance is being insured now... if you simply keep pushing it forever, it will be too costly forever....you have to start building a history someday so that in the future you can enjoy lower rates.

[JL2002]

u know what, it'll be cheaper if you put your mom's name on the insurance, even if she doesn't drive and you as the secondary....i have 2 cars, one 92 accord, and 04 Tribute, and my mom and dad are primary for both cars and our insurance is less than $5000 for 3 people.....for BOTH cars....I'm with ING insurance.....if your mom doesn't have license, just pay her to get here license, it'll be cheaper..... :cheesygri

[JL2002]

u know what, it'll be cheaper if you put your mom's name on the insurance, even if she doesn't drive and you as the secondary....i have 2 cars, one 92 accord, and 04 Tribute, and my mom and dad are primary for both cars and our insurance is less than $5000 for 3 people.....for BOTH cars....I'm with ING insurance.....if your mom doesn't have license, just pay her to get here license, it'll be cheaper..... :cheesygri


*oh, my dad is not even here to drive the accord, so i get to drive it myself!! ;)

[garks]

my mom failed her g2 soo many times...
i dun think she can do it
anything else?
can she be insured with only g1?

[gq_fuzion]

don't need to be

garks, you're up at 5g's with a 1988 corolla?
i got quoted $4500 for a 93 2dr civic dx hatchback

do you have your g yet???
a g license will reduce by about $500

[gq_fuzion]

w00t
been quoted about $3500 for a 93 vw golf 2dr once a g is obtained

screw a civic, i'll get a golf if it'll save me money

i'd think a golf would cost more since its a sportier car

[D-3vil]

I agree with the post that said to get your mom to get her G2... your insurance will go down to <$2000 / yr.

Also, if the above is not possible, put your brother down as the first driver of your car, if he's older (esp. over 21) and has more driving experience (I'm assuming a clean record here).

I know of people who insured different cars at different companies, and so managed to have a person be named first driver on 2 cars, but you're guilty of fraud if they find out. Also, your dad might be able to be 1st driver on both cars if he has a business and uses the second car for business purposes (he can list you as one of the drivers). Business insurance is a little more expensive, but remember, it's cheaper to pay business insurance in your dad's name than pay standard insurance in your name.

RE: your car purchase, beware. If a seller can ask for more money, he/she will. You usually get what you pay for.

[gman]

(Please don't say $10000 for a $500 dollar car) Insurance prices are OUTRAGEOUS


The value of the car has nothing to do with the price of 3rd party insurance. It does not cover your own car but the other cars on the road. In fact, a $500 older car may cost more than a $5000 newer car in insurance because it may consider to be more dangerous on the road. BTW, I don't even know if you can certifiy a $500 car.

[D-3vil]

The value of the car has nothing to do with the price of 3rd party insurance. It does not cover your own car but the other cars on the road. In fact, a $500 older car may cost more than a $5000 newer car in insurance because it may consider to be more dangerous on the road. BTW, I don't even know if you can certifiy a $500 car.

The insurance price quoted is purely mathematical, and based on several factors. The insurace company first looks at the car, and at past claim rates for that particular model (in other words, how expensive has it been for them to insure your car in the past?). Then they look at the driver, and do the same thing. Add all this to your insurance options (coverage, liability etc etc) and they'll give you the cost of insurance (also including their administration fees etc).

So, theoretically, a 2-door sports coupe can be less expensive to insure than a 5 door ugly car IF that ugly car model has a lot of claims against it and the 2-door car has relatively few claims. Of course, this doesn't happen in the real world, since people who want to go fast (males under 25 belonging in this category) choose the 2-door sports coupe. There are exceptions to this. 2 years ago, when I bought my '93 240SX coupe, insurance prices were average for it. Now they're above average, as the claims for the model have changed.

[garks]

my brothers 20 currently, turning 21 soon
will his insurance drop?
i thought price drops at 25? or when he gets married?

[gq_fuzion]

its 25 average
4 years from the time you get your g

each year you go throgh with a clean record, you get a star

after you get the 4 stars, thats when your insurance will go down

[D-3vil]

my brothers 20 currently, turning 21 soon
will his insurance drop?
i thought price drops at 25? or when he gets married?

His insurance will drop a little when he turns 21 (as a guideline, rental companies only rent to you if you're 21 and older). He will also become a 5-star driver (I'm assuming he's got a clean record) the moment he has 5 years of experience (5 yrs from date of G1).

Of the two of you, your brother should definitely be listed as 1st driver on your new car. But if you can get your mom to have her G2, that's a LOT better.

[garks]

my dad told me (not too sure on details)
after i graduate form University, i can join this "club" that'll make my insurance price drop 40%.
True? or is he bsing so he wont hafta buy me a car?

[JL2002]

my dad told me (not too sure on details)
after i graduate form University, i can join this "club" that'll make my insurance price drop 40%.
True? or is he bsing so he wont hafta buy me a car?

what kind of "club" tho?

[gman]

my dad told me (not too sure on details)
after i graduate form University, i can join this "club" that'll make my insurance price drop 40%.
True? or is he bsing so he wont hafta buy me a car?

Monnex??? Not a club but it gives discount to graduated student from certain university. U of T is one of them.

[SoNgMaN]

insurance companiesa re now looking for 6 star drivers. scary i went through it 4 months ago i'll be 6 star in october had an accident in 98. the age that really matters is 25 there are small like $50/year if you're lucky before that.

[joo]

try getting online quotes at www.kanetix.com

they spider out quotes to multiple organizations

[D-3vil]

Monnex??? Not a club but it gives discount to graduated student from certain university. U of T is one of them.
Actually, I spoke to them on the phone about 2 months ago (looking for a quote), and they also qualify current U of T student (undergrads).

the age that really matters is 25 there are small like $50/year if you're lucky before that.
I agree with this, however, there is another (relatively) steep drop at 21. That's the age above which rental companies consider it "safe" to rent cars to you. Difference is in the hundreds of dollars / year (especially for guys).

[r2r]

Monnex??? Not a club but it gives discount to graduated student from certain university. U of T is one of them.

What about York U?

[Ben_Troll]

im a 18 year old male, who has gotten my g2 lisence for exactly one year now
all i can afford is a $500.00 car at autotrader.ca
its a 1988 Toyota Corrola SR5 (2 door)
how much do you think insurance is going to cost?
(Please don't say $10000 for a $500 dollar car) Insurance prices are OUTRAGEOUS
can someone help me find a cheap insurance company?
around how much would i hafta pay per year?

I'm not sure if you are still looking for a cheap car insurance company.

I have 2 companies I can recommend, see below:

Johnson Insurance (http://www.johnson.ca/)
Contact: Joann Lane
Tel: 905.764.4972 Richmond Hill area

The Personal
1.866.856.6461
Link (http://www.thepersonal.com/cibc)
http://img343.imageshack.us/img343/1372/thepersonalinsurance2gq.jpg (http://www.imageshack.us)