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I'll throw my 2 cents in.
If you have a loan on a vehicle, you are only required to have comprehensive insurance if it is in storage. If you drive the vehicle, then your lender requires full coverage.
The insurance rates Chris is quote are not unrealistic. I pay about $38 a month for my 95 Stealth and similar rates on my other cars. Calculating your insurance rates is a very complicated formula, and it varies among insurance companies. Here are the keys to getting lower insurance:
- being over 25
- excellent credit rating
- no accidents/ no moving violations
Other things that will affect your rates to a lesser degree are:
- location
- miles driven to work/school
If you think you are paying too much insurance, shop around. I switched to AAA insurance a few months ago. I use to be paying over $100 a month for my Stealth, so I got a huge savings.
later,
Curt
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