24/M
2000 SE
Miami, FL
State Farm
approx 2400/year
222 a month, should go down to 120 when I turn 25.
Clean Record, No tickets/Accidents

 

30/Male
1500/year
Boston, Ma
2002 maxima se
Would be 3100/year but my car is registered in one of boston's suburbs at parents house...........No way I'd pay 300 plus a month in insurance

 

7000 a year?

I live in Boston, Taxachusetts......I pay 2000 all coverage 300 decutible. Yeah my driving record isn't tainted but, a buddy of mine has a step 30 w/ 1 DUI and his insurance is only 4000 a year.

How is this possible?

I would not be driving a car if some company tried to make me pay 7,000 a year for auto insurance. I'b be taking the T to work.

Is it worth it?

 

25, Male
02 SE
Maine
Travelers Ins
approx $1100/year included '92 Jeep, and '03 Snowmobile, $50 deduc.
Several speeding tickets (recently lost license), 1 at-fault accident.

 

23/ Male
02 SE Automatic
Washington, DC
Progressive Full Coverage, Gap
$1,300 year

Clean as a whistle. (my record not my car.)

 

24 year old male,one accident,no tickets,Rhode Island 2,800 a year.on 2000 se.

 

The reason you found out about gap insurance is because the two leasing companies "FORCED" you to have it as part of the lease. As said previously this does not mean that only leased cars need or can have gap insurance. You were "FORCED" to get gap insurance by these leasing companies because they didn't want to count on you to pay them the balance due to them in the event the car got totaled. So if this event did happen and you still owed them 12k in lease payments and the residual value was 14k but the insurance company only paid out 18k for the "value" of the car they could then collect the balance due from the gap coverage and not have to hound you for the money or be faced with you BK'ing on them.

In the event that any one purchased a car with out much down and the balance due is less than the "value" of the car it makes sense to get gap coverage. As it covers the "gap" in value that YOU will be responsible to pay in the event the car gets totaled. Even if the accident is not your fault the other persons ins co will only pay the "value" of the car at the time of the accident and YOU will be held accountable for the balance due. Yes you can still sue for the money, and who knows how long that will take, but in the mean time your credit rating will go into the $hitter if you don't make good with the lending company in a timely manner. And you still need a new car...



BTW I'm 32 in Atlanta
2002SE full 100,300,100 coverage with all opts.
$250 ded.
$1000yr

 

59/Male
00 GLE
Port Angeles, WA.
Farmers
approx 400/year
No Tickets/Accidents
Pretty close to maximum coverage with low deductibles

 

26/male
2003 GLE
NYC
1650 a year. full coverage(under my moms. she was kind enough to insure it for me)
i got 11 points. 8 for 1 speeding ticket. and 3 more for i cant remember what.
i'd be paying about 8000 a year under me.

 

27m 03 SE
chicago burbs
state farm
1400 a year

 

32/Male
2000 SE
Des Moines, IA
Full Coverage
Clean Record for past 5 years
600 per YEAR.
State Farm

Some of the rates you people are paying is flat out a$s. $7,000 pr year? That's like $580 a month. Where does an 18 y/o come up with that for insurance?

 

25/Male
2003 350Z
Augusta, georgia
Full coverage
1140 year
Grange
1 accident (my fault) in April, multiple speeding tickets in my teen-age years

 

My NMAC lease does not require gap coverage and actually states that they will accept the settlement made by my insurance company. There's prolly some loophole that will screw me.

26/M, clean record
2003 SE 6spd
250comp/250coll
250k/500k/100k, 100k/300k
Fort Collins, CO
$682/yr
Progressive
Multicar policy w/ a 97 Cherokee, costing about $828/yr, paid in full
Other driver 25/F, clean record