Best Car Insurance For Young Drivers

Questions and Answers

Your Questions About New Driver Car Insurance Rates

February 3, 2013

Robert asks…

How can we get cheaper car rental insurance(coming from BC) when renting a car for a week from Trudeau Airport?

A year ago when we rented a car it was exorbitant(over $500) and I know the insurance is available in Manitoba if you buy it there before departure. Does BC have a similar set up for car insurance? Any assistance you may give would be greatly appreciated.

Administrator answers:

You can use coverage on your credit card possibly, but that doesn’t cover liability or replacement transportation (2nd rental) in the event of accident or theft of the rented vehicle.

Other poster is correct, when I searched for rental vehicle coverage, it did not come up, but a search for Roadstar brought up the following.
This coverage is just for RoadStars, drivers at minus 9 or lower on the Claim-Rated Scale.
Http://www.icbc.com/autoplan/optional/roadstar/RoadStar-rental

Sharon asks…

How to transfer car loan to my name?

My boyfriend has gotten a dui recently and his insurance went up like crazy tripling how much he use to pay. To avoid paying for the high insurance rate for the next 4 or so years, he suggested that he transfer his Wachovia car loan to me. How do I go about to doing that? Do I contact Wachovia first? Do I then have to get a car loan from the bank for the remaining amount of his car? By the way, my credit score is excellent. Thanks your answers.

Administrator answers:

You’re playing with fire.

I’ll skip the lecture around “you should NEVER sign on to a car loan for a boyfriend/girlfriend, only for a spouse” and go into the legalities.

You can’t just have a loan “transferred” to your name. You need to follow these steps:

1) Have him call Wachovia and get a 10-day payoff amount on the loan.
2) YOU have to then go and see if you can get a loan (from your bank/credit union, or other lending source… You can even use Wachovia if they can get you a good rate).
3) Once approved, purchase the vehicle from your BF. Your BF needs to make sure the loan he currently has is paid in full. Only then can he transfer ownership to you/your bank.
4) Make sure everything is now in your name (keep in mind, adding him to your insurance as a driver means they’ll probably see that DUI and charge you accordingly). You need to make sure you cover yourself in the event that you and he split company. If you two break up, the car is yours.

Here’s the kicker… You have to get the bank to give you enough to cover your BF’s loan. You have to make sure the loan value on the car will be enough for them to OK it. For example… If your BF had a ’05 Mustang that he owed $15K on, and the loan value on the car was only $12K, you’d have to cover that $3K in cash.

Good luck.

Joseph asks…

What would actually be the CHEAPEST car insurance for a 2011 challenger srt8?

I need to find out what car insurance company located near Covington, Louisiana sells the CHEAPEST full coverage car insurance that would be paid in full every 6 months for a fully loaded Dodge Challenger SRT8 with an automatic 5 speed transmission with the fuel saver technology feature? Any suggestions?

Administrator answers:

There’s no insurance company that’s going to give a cheap rate on that car. And there’s no one company, that gives the SAME rate to everyone, for that car, regardless of the age of the driver, the driving record, where they live, and their credit score.

Not to mention, the term “full coverage” is a myth, and if you have 100 different people in Louisana in a room with “full coverage”, I bet I can arrange their policies in a way, that each person has DIFFERENT coverage, and no two people have exactly the SAME “full coverage”.

There’s no short cut. To find the cheapest policy for YOU, you will have to shop around.

Powered by Yahoo! Answers

Related posts:

  1. Your Questions About New Driver Car Insurance Rates
  2. Your Questions About New Driver Car Insurance Rates
  3. Your Questions About New Driver Car Insurance Rates
  4. Your Questions About New Driver Car Insurance Rates
  5. Your Questions About New Driver Car Insurance Rates