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Orginally posted by Mohanjeet

My guess is TD is the cheapest.......?

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Further to my post earlier, I'm with TD Melloche Monnex and live in Brampton.

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Orginally posted by ravisingh


Further to my post earlier, I'm with TD Melloche Monnex and live in Brampton.

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Orginally posted by ravisingh

I pay $101/month for my 2004 Honda Oddyssey with full coverage.

rav

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Chandresh

Advice is free – lessons I charge for!!

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Orginally posted by chandresh

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Orginally posted by ravisingh

I pay $101/month for my 2004 Honda Oddyssey with full coverage.

rav

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It is a surprisingly low rate for the car you have mentioned, specially when you compare it to your own rate for Hyundai. Are you sure there is no typo error?

If there is no error, how come it is more for an old Hyundai than your new Oddyssey?

Chandresh

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Your attitude, not your aptitude, will determine your altitude.

Chandresh, My figures are accurate. I can show you my policy if you'd like. I am in the GTA. I do agree the figures look odd, but they are right.

As you know, 2004 Oddyssey is a mini van with a good anti theft system (engin imoblizer (sp?)). That makes a difference as well. Further it's a mini van. which rated as a family, safe and responible drivers only (at least that is what the insurance companies believe). Since this is a new vehicle, the coverage is full.

The 97 Sonata, is high most likely becase it damges easily and cost is high for parts. And it's a car. There is no anti theft device. in it. Since this car is old, I have removed collision and comp coverage on it.

With regards to driving, I drive them both about the same (under 24k/year).

Further, becuase I have both vehicles with the same insurance company, they gave me a discount of about $190/year.

One thing that I've learned is that just because a car is old, that doesn't mean that it is cheaper to insure. There are other factors to consider.

Also the price paid for a car has very little impact on the insurance rate.
For example a Neon might be more expenive than an ML 350. NOTE I SAID MIGHT BE. There are many factors.


Meloche Monnex # is 1-866-843-9223

I AM JUST THE AVERAGE PERSON. I DO NOT WORK IN THE INSURANCE INDUSTRY. PERHAPS SOMEONE WHO HAS MORE INSURANCE KNOWLEDGE CAN ADD TO THIS.

Your observations are quite accurate, RaviSingh.

Insurance companies take into account a lot of factors when insuring a certain vehicle.
It is several major things, like make (domestic or imported), model (some models are cheaper to insure than others) year(same make/model vehicle of a different year can have different rates).
Also, the safety of the vehicle, the number of reported problems, recalls etc. are an important part.

Further, all insurance companies have their own ratings and data for each vehicle.
It does not always match with the NHTSA ratings.
Their internal rating criteria and numbers are usually not revealed to the consumer, and sometimes not even to the insurance agents.

And yes, ceteris paribus, the color of the car can be the final determining factor in the rate of insurance

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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."

-- Rhett Butler in "Gone with the Wind"