ZoomZoomRx-8

Hi Everyone,

I am sure I have seen a thread with alot pricing on insurance but I can't seem to find it.

I am 28, perfectly clean driving record, continous insurance on my current car (liability) and ok credit (nothing bad there). Now I am looking to buy a 2007/06 RX-8

What would you think my monthly insurance payment would be? is 150 reasonable?

Also, does the RX-8 rank as a high risk /higher than normal risk sports car? or just a regular sedan?

Thanks!!!! Replies much appreciated

C

liam

A 28 year old with no citations or at-fault accidents? You're at a stage where rates will be much more affortable from now on. For a "full coverage," $150/ month is reasonable for a mono-line policy (single auto policy). But, I would shop around with the following things in mind:

Keep in mind, there are different levels of "Liability" insurance. So, not all insurance coverages are equal. Most drivers only care about getting the "cheapest" insurance, which equals "lowest" liability coverage, i.e. the state minimum. However, the danger of getting state minimum liability is that, if you cause injury(ies) in an accident and your liability coverage is not sufficient to cover those injuries, guess who's paying the difference.

I tend to appreciate value over price. Mid- to high level liability coverage. Liability pays the other party in case of an at-fault accident. Liability protects your current and future assets. The rest of the "full coverage" covers you and your car.

2) Under/uninsured Motorist Protection (protects you and your passengers)
3) Medical or Personal Injury Protection (protects you and your passengers)
4) Comprehensive (deductible)
*coverage for your car in case of theft, vandalism, etc
5) Collision (deductible)
*coverage for your car when you cause an accident.
6) Towing (roadside assistance)
7) Rental Car.

***Keep in mind, higher the deductibles, lower your monthly rate will be. Think of deductibles as a small portion of your car that you are self-insuring. Higher the "self-insurance," lower the premium. Also, insurance is not a bank, so every single cent you pay more every month, you're not getting anything back. Therefore, determine your driving habits, your record, and your finance/pocket-book, and determine where you want the deductibles to be at.

***Lastly, this is the internet; accept advice with a grain of salt. Every state has its own insurance commissioner who regulates insurance laws of the state. Thus, every state has slightly varing insurance laws. Consult with a trustworthy insurance agent for more information.

liam

Forgot this one. My experience is that, RX8 has been very reasonable compare to an 350z which is rated as "high performance" sports car, thus very expensive to insure. Actually, all things being equal my RX8 was less expensive to insurethan my first generation Miata; go figure.

ZoomZoomRx-8

Thank you so much for the descriptive advice. I will shop around and see how it goes.

ZoomZoomRx-8

Thanks again, after considering my driving habbits, I opted for a 1000 deductable on both collision and comphrenesive. And I increased the minimals on other options and GEICO quoted $90/month. Which I think is very reasonable. Now I just need to wait for the dealership deliver the brand spanking new Sunlight Silver 2007 Grand Touring for $24K soon! This forum really helped me to figure out the car I need, the price, trim, aftermarket parts, insurance...everything! I think I got a good deal.