How much is car insurance for a teenager under 18 years old?
Because young drivers lack experience and a driving record history, insurance companies deem them high risk drivers and have some of the highest premiums rates on the road. Let’s take a look at the average premium rates for drivers under 18 throughout the United States.As you can see from this graph for drivers under 18 pay the highest premium costs of any other age group for any coverage limit. These prices represent policies with only one driver, one vehicle, no accidents, and no lapse in car insurance coverage. See how much car insurance for your teen would compare at Insurify.com.To answer your question: If you share the car with someone, is the car insurance higher for two people instead of one?Teen drivers can avoid a high risk policy by being added to their parent or guardian’s policy. Adding another driver to an existing policy is cheaper than purchasing a new policy for one. You’ll also unlock more discounts when you add a younger driver to your policy like family discount, good student discount, and more.Young drivers looking to purchase their own policy separate from their parent or guardian’s insurance policy could save money by purchasing their state’s minimum coverage. However, this coverage amount is not recommended and leaves drivers vulnerable to huge financial loss in the event of an accident.Now that you’re expecting to pay a huge amount for your car insurance if you’re under 18 years old or the parent of someone under 18 years old, you should research insurance companies that offer affordable coverage for young drivers.This graph shows the average cost of insurance for teen drivers by provider. Providers like Arbella, Occidental, and Plymouth Rock offer cheaper rates for any amount of coverage for teen drivers with their own policy, one vehicle, no accidents, and no lapse in coverage.
18 year old and car insurance...help please?
I've been saving up the past 3 years to buy myself a car. I've saved about 18K for a new car, so my price range is from about 18-24K for a car, new or used. Some cars that I'm interested in are: In Order: 1. 2004 BMW 530i 2. 2004 Infiniti G35 3. 2005 Mercedes C230 4. 2004 Acura TL or RSX 5. 2005 BMW 325i My problem isn't whether I can afford the car and the maintenance fees, its the insurance. I would be under my fathers insurance. He's 55, no accidents or tickets, been driving since 16. He would be the primary and I would be the secondary. I go to college, have a 3.8 GPA, work part-time, have been driving since 16, no accidents or tickets, and the car would be parked in a garage. I also wouldn't be driving much, just to and from school (less than 7500 miles a year). How much would basic insurance be? I hate getting online quotes because its time consuming and I hate getting spam emails and phone calls. I'm thinking of buying the car soon, so please help. THANKS!
(BMW OWNERS) How much do you pay monthly for you BMW?
Im 20, Im from US, my car is a 2006 BMW 320D sedan. And this car costs me about $600 - $700 a month I guess. The transmission is starting to act weird though, so that will be an expensive joke.
How long does it take for a life insurance policy to accumulate cash value?
Thanks for the question. The short answer is that the quantity of time that it takes to accumulate cash value will completely depend on the contract that you are purchasing and how much of the premiums that you pay.First off, lets deal with the premiums, if you do not pay the full yearly amount of your policy likely you will accumulate nothing, If you over pay the policy the the cash value may grow more quickly.Onto the contract. There is no such thing as a generic whole life policy (this is why clients have to read them to determine if they are right for them, each policy is different). But some policy chassis are created to generate more cash value early on while others are not focused on creating cash value until later on.Now, here is where it gets a bit more complicated. Most whole life insurance policies pay commissions and marketing expenses first, which means that most whole life policies build “VERY LITTLE CASH VALUE” in the first couple of years. This is one of the central issues with whole life being considered a good investment. (The other being the relative low rate of return.)One side note here, most people do not seem to realize that participating insurers only pay dividends on the cash value of the account and not on the entire amount paid in. Therefore if your cash value only has $8.12 built up in the first three years, that 4.2% dividend rate will only be paid on the $8.12, not the $8,000 you may have paid in.For these three reasons (1) Lack of Cash Build up in the first couple of years (2) Low Relative Rate of Return (3) Dividends only being paid on Cash Balances combined with the questionable selling tactics of life insurance agents (and I am an agent) make whole life insurance typically a poor decision for the vast majority of Americans.If you are going to consider a whole life insurance policy I would prefer you shop the ‘guaranteed charts’ available combined with the insurers financial strength rating. Lastly all claims should be in writing and question everything you are told.Thanks for the terrific question.
Insurance company and liability coverage on a leased car?
Because when you LEASE a car for six months or more, an insurance company treats that as an owned vehicle. There's no such thing as "full coverage", but it sounds like she didn't buy anything except what you need to hang the plates. She's a grownup - she entered into the lease on her own, the paper that she signed, was her promise that she would carry collision, comprehensive, and liability insurance on the car - and she broke her promise. What she's going to have to do, is keep making those lease payments, and buy the totalled car from the leasing company, or pay it off and buy it out, right now. They DID ask if she's financing or leasing the car. That question, is on the application, it's on EVERY application, and she said NO. She LIED, and now it's coming back to bite her in the b&tt. To say, "she didn't buy it, so they're not giving it to her, isn't fair!", kinda like, when you go to the store, they don't give you anything THERE you don't buy, either!! She screwed up, and now SHE is going to pay for her mistake. What YOU can do, is learn from her mistake.
Should I Trade my '05 Altima for an' 01 BMW 325i?
My current car which is an Altima has 75,000 miles on it, and the 4 door BMW I'm looking at is certified, and it has 64,000 miles on it. I am 20 years old, and my mom currently pays for the Altima. She would also help me pay for the BMW, however, it would be financed under my name only. I had a 1989 525 BMW before that I really enjoyed. Would it be a poor decision for me trade my Altima and finance around $14,000 for a 2001 Black 4 door 325i BMW? Should my insurance increase, or decrease? Will the the car be expensive for repairs and servicing in the next 5 years? Thanks. Danielle