Advise on Insurance for car!!!!

[DANNY25]

Hi friends,

By grace of god and qorax (his advise for bringing the driving experience letter from my country) I got my G licence. Now m looking for an affordable and economy car with cheaper insurance...

Suggestions and tips from qorax and other seniors are welcome..

Thanks
DANNY

 

[MCBoy]

There are 2 parts in car insurance, 1. insurance for the car, i.e. any damages for the car. 2. Liability, i.e. any damages for the victim when you are at fault. Its a balance between both.

Insurance minimum is 150 provided you have G and your have taken the course! (in your case i dont think you did). Since you dont have any insurance history and credit history in Canada, your insurance may go up to 190-200. This is the Per Month rate.

From the car perspective, there is a balance (mid point) for insurance and car.. if you buy a new one (part 1 goes up) or a beat-up (part 2 goes up) your insurance will increase. Buy something for $10-$15K and your insurance will be arnd 200.

In 5 years after no accident driving, you may be able to decrease that to $150. Combine with Rental/Home insurance and you may get a 5% discount, it depends.

Good Luck!

 

[DANNY25]

Thanks mcboy.. i really appreciate your advise and suggestion.