Full Version: Cost Of Insurance...
As the title explains, this is hw help needed for my classes actually, not because I'm buying a new car (I wish) hehe. First of all it's regarding the debate I asked you guys like months ago. Now it's the final day and I have to debate against my partner. We know what we are going to talk about but he mentioned something about his side of the argument that cost of insurance for domestic cars is cheaper than foreign? Is that true (generally?)?
Well I did a quick quote on progressive.com for a Pontiac G6 and a Toyota Camry which I'd say are similar cars. The G6 came to $1354 or $237/month and the Camry came in at $1476 or $258/month. If you want to look further just go over to any insurance companies web site and build a quote.
QUOTE (Kyle Petree @ May 18 2009, 02:15 PM) 
Well I did a quick quote on progressive.com for a Pontiac G6 and a Toyota Camry which I'd say are similar cars. The G6 came to $1354 or $237/month and the Camry came in at $1476 or $258/month. If you want to look further just go over to any insurance companies web site and build a quote.
Damn! You're either a teenager, or have a bad driving record to get those kinds of quotes! OUCH!
Dens, the reason for the cost difference is probably associated with the cost of repair if an accident were to occur "parts".
QUOTE (denslexusgx470 @ May 17 2009, 07:20 PM)
As the title explains, this is hw help needed for my classes actually, not because I'm buying a new car (I wish) hehe. First of all it's regarding the debate I asked you guys like months ago. Now it's the final day and I have to debate against my partner. We know what we are going to talk about but he mentioned something about his side of the argument that cost of insurance for domestic cars is cheaper than foreign? Is that true (generally?)?
Foreign cars usually cost more to repair (generally more expensive parts) That is why most of the time they are a little higher to insure if you want or need full coverage. But because of their safety ratings if you look at liability only on foreign cars vs. domestic cars it would surprise most people that it would be cheaper or almost the same to insure the foreign car rather than the domestic.
You also have to remember to there are so many options on cars today without VIN#'s most of the time you have no idea what safety features cars have. I can tell you it would be $30 cheaper to insure a Chevy Trailblazer then my X5, or about $40 less to have an Ford Escape rather than my Lexus. IF I had just liability only on my Lexus it would be $119.00/ 6 months, if it was the same Trailblazer it would cost $123/ 6 months so the Trailblazer would be higher. I tried to match the options best I could one thing that you have to keep in mind is that the foreign cars do cost more as well.
QUOTE (nc211 @ May 18 2009, 03:45 PM)
Damn! You're either a teenager, or have a bad driving record to get those kinds of quotes! OUCH!
Yea I'm only 19. That is why my parents pay my insurance and my car is in their name. I was just using that as a reference. I know when I got my ES my mom saw our rates jump from when I had my Pontiac G6.
Turns out the cost of insurance wasn't a big problem for my debate. Late responses though but thanks anyways you guys. Got a 100% on my debate so maybe later tonight I'm going to post the outline of the debate that I went through and see what you guys think. I know you guys wanted to know how my debate would turn out a couple months ago and now it's over and graded, I'll post it up. 
QUOTE (Kyle Petree @ May 18 2009, 02:15 PM)
Well I did a quick quote on progressive.com for a Pontiac G6 and a Toyota Camry which I'd say are similar cars. The G6 came to $1354 or $237/month and the Camry came in at $1476 or $258/month. If you want to look further just go over to any insurance companies web site and build a quote.
Well, keep it between the ditches, and in about 10 years or so, you'll have full coverage rates like I do, at $50 a month with a $250 deductible
QUOTE (nc211 @ May 18 2009, 07:10 PM)
QUOTE (Kyle Petree @ May 18 2009, 02:15 PM)
Well I did a quick quote on progressive.com for a Pontiac G6 and a Toyota Camry which I'd say are similar cars. The G6 came to $1354 or $237/month and the Camry came in at $1476 or $258/month. If you want to look further just go over to any insurance companies web site and build a quote.
Well, keep it between the ditches, and in about 10 years or so, you'll have full coverage rates like I do, at $50 a month with a $250 deductible :cheers:
Wow. Well I cant wait for my insurance to calm down after maybe another year or two. Keeping that record clean.
QUOTE (Foreign Versus Domestic Debate @ May 18 2009, 09:00 AM)
A=Denny
B=Zach
A: Argument: Foreign cars are better than domestic
-reliable
-efficient
-better design
B: Argument: Domestic are better than foreign
-Overall cost is cheaper (insurance, warranty)
-safest cars on the road
A. Refute- Initial cost is cheap but cost of maintenance and repairs are costly
-not as fuel efficient= more $ at the pump
-safety; domestic cars are bigger but foreign cars have more advanced safety features
-domestic may offer a cheaper extended warranty and better warranty coverage but foreign cars do not need the warranty for the most part because they have less chances of major problems occuring.
B. Rebuttal:
Chevy cobalt, and ford focus get around 35mpgs
-insurance for vehicle is cheaper
-cadillac over a 3 year period is only repaird around 206 times per 100 cars as opposted to honda and toyota that are around 190-200
-insurance and parts are cheaper for american cars
B. Refute to Argument A:
-Honda and Toyota are the most reliable companies as far as the car being repaired but right behind that is cadillac, pontiac, ford, chevy
-domestic cars are just as fuel efficient
A: Rebuttal to Refute:
-Domestic cars are barely just researching on how to make their cars fuel efficient.
-Cadillac, Pontiac, Ford, and Chevy are behind Honda and Toyota which still puts the two imports on the top of the reliability list.
A: Concluding Argument:
-Foreign is better than domestic in all aspects.
-More reliable, more efficient
-Better designs.
B: Concluding Argument:
B=Zach
A: Argument: Foreign cars are better than domestic
-reliable
-efficient
-better design
B: Argument: Domestic are better than foreign
-Overall cost is cheaper (insurance, warranty)
-safest cars on the road
A. Refute- Initial cost is cheap but cost of maintenance and repairs are costly
-not as fuel efficient= more $ at the pump
-safety; domestic cars are bigger but foreign cars have more advanced safety features
-domestic may offer a cheaper extended warranty and better warranty coverage but foreign cars do not need the warranty for the most part because they have less chances of major problems occuring.
B. Rebuttal:
Chevy cobalt, and ford focus get around 35mpgs
-insurance for vehicle is cheaper
-cadillac over a 3 year period is only repaird around 206 times per 100 cars as opposted to honda and toyota that are around 190-200
-insurance and parts are cheaper for american cars
B. Refute to Argument A:
-Honda and Toyota are the most reliable companies as far as the car being repaired but right behind that is cadillac, pontiac, ford, chevy
-domestic cars are just as fuel efficient
A: Rebuttal to Refute:
-Domestic cars are barely just researching on how to make their cars fuel efficient.
-Cadillac, Pontiac, Ford, and Chevy are behind Honda and Toyota which still puts the two imports on the top of the reliability list.
A: Concluding Argument:
-Foreign is better than domestic in all aspects.
-More reliable, more efficient
-Better designs.
B: Concluding Argument:
This was the general idea of the debate. If you guys have particular questions regarding any of the sections in the debate, ask me and I'll try and explain hehe
QUOTE (denslexusgx470 @ May 19 2009, 12:26 AM)
QUOTE (nc211 @ May 18 2009, 07:10 PM)
QUOTE (Kyle Petree @ May 18 2009, 02:15 PM)
Well I did a quick quote on progressive.com for a Pontiac G6 and a Toyota Camry which I'd say are similar cars. The G6 came to $1354 or $237/month and the Camry came in at $1476 or $258/month. If you want to look further just go over to any insurance companies web site and build a quote.
Well, keep it between the ditches, and in about 10 years or so, you'll have full coverage rates like I do, at $50 a month with a $250 deductible :cheers:
Wow. Well I cant wait for my insurance to calm down after maybe another year or two. Keeping that record clean.
Insurance rates usually don't start to ease up until you're around 25. Two areas of life insurance companies want their drivers to get through before reducing their "liability probability" points: 1) "Lets see how fast it goes" = 16-20 years of age, and 2) "I'm ok to drive, I only had a couple drinks" = 21-25. You get through those two phases of life with a clean bill of health, and your rates will fall like a stone. My rates are also due in part to my long time loyalty to my insurance company USAA, which has insured everything my family has ever owned for over 50 years, and their banking side USAA Bank, also has both notes on my two cars. Both the 4runner and GS430 cost around $50 each.
Ugh I know. But doesnt my rate still go down after a couple years or so of driving with a clean record? I mean it won't be as low as you NC but still lower than the new 16 yr old driver right? 
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