I've been looking to get a car and I was wondering how much a student should expect to pay. Also are there any insurance companies that have discounts for McMaster students?

Thanks

It completely depends.... I have A g2... never been in an accident, never even gotten pulled over, ever...and I pay 256/month ... just for liability and comprehensive.. no collision
and I only drive a '02 pontiac sunfire GT with just under 100k.... that's throguh TD auto insurance... the cheapest I could get and I looked everywhere

As a student it will most depend on your location, age, and gender. Without those it would be impossible to say. Every company will be different for ever car/person/location combination, so it is imperative that you shop around.

Two sources of online quotes:

http://www.kanetix.ca
http://www.insurancehotline. com

Fill in the information as accurate as you can and have a look.

Originally Posted by Charbs

It completely depends.... I have A g2... never been in an accident, never even gotten pulled over, ever...and I pay 256/month ... just for liability and comprehensive.. no collision
and I only drive a '02 pontiac sunfire GT with just under 100k.... that's throguh TD auto insurance... the cheapest I could get and I looked everywhere

*thumbs up* to TD. 2,000,000 liability, 2000 comprehensive and 2000 collision for 21 y/o male. Pay 249/mth.

I was quoted by a broker that my family has all their insurance plans with and quoted me $400/mth! I said eff that and went online.

Still extremely important to shop around, since there are so many variables. I can't stress that enough.

Last year I saved my parents 25% (~3100 instead of ~4200, three drivers on two cars) by having them switching to Geico away from TD.

Originally Posted by temptingf8

Still extremely important to shop around, since there are so many variables. I can't stress that enough.

Last year I saved my parents 25% (~3100 instead of ~4200, three drivers on two cars) by having them switching to Geico away from TD.

You pay $3100 for insurance as an occassional driver? or is that the total household cost.

While 3100 last year, it's actually something like 3600 this year with the increases that Ontario saw. I wasn't able to find cheaper anywhere else. It's the total household rate with me being a third occasional driver on my parents' two cars. Neither car is newer than 1998 with basic $1,000,000 liability, they have clean records. Like I said geographical location has a lot to do with it, I don't come from the hottest part of Toronto and the insurance balloons accordingly.

I just did another quote for my own policy and since I got my G1 in July 2004, I can tack another year of being licensed onto my record. It dropped from 3500 to 3000, just for me. 1995 Pontiac Bonneville SSEi 4-door, one speeding ticket, no accidents. I currently have the Bonneville registered elsewhere... gonna have to bring it under myself within the next year.


edit: I just did another quote using my Hamilton apartment postal code: $2300 compared to $3000, yikes.

Originally Posted by temptingf8

While 3100 last year, it's actually something like 3600 this year with the increases that Ontario saw. I wasn't able to find cheaper anywhere else. It's the total household rate with me being a third occasional driver on my parents' two cars. Neither car is newer than 1998 with basic $1,000,000 liability, they have clean records. Like I said geographical location has a lot to do with it, I don't come from the hottest part of Toronto and the insurance balloons accordingly.

I just did another quote for my own policy and since I got my G1 in July 2004, I can tack another year of being licensed onto my record. It dropped from 3500 to 3000, just for me. 1995 Pontiac Bonneville SSEi 4-door, one speeding ticket, no accidents. I currently have the Bonneville registered elsewhere... gonna have to bring it under myself within the next year.

Ah, a speeding ticket is a pain in the ass for insurance too. :(

The difference is about $87 a year. Based on the Hamilton postal code and one ticket I was quoted $2294; re-did the quote without the ticket and it drops to $2207.


edit: To show how vehicle choice affects a quote for young male drivers, I did this for fun, threw around other vehicles and see what I got:

1995 Pontiac Bonneville SSEi Supercharged: $2294
1995 Honda Civic Si Coupe: $2409
1995 Toyota Corolla 4-door: $2278
1995 Toyota Camry V6 4-door: $2164
1995 BMW 325i 4-door: $2337
2004 Lexus IS300: $3473 (full coverage, $1000 deductibles)

(Male, 22, 1 speeding ticket, 10,000km per year, 5km one-way to school)

Originally Posted by temptingf8

The difference is about $87 a year. Based on the Hamilton postal code and one ticket I was quoted $2294; re-did the quote without the ticket and it drops to $2207.

Oh, that's not too bad at all.