Question regarding insurance rates and many new younger owners

It seems we

 

It shouldn't as long as your record is good.....if anything it will just get more

expensive for the kids (or parents) buying these type of cars.

 

Yea, I think we should all trade cars.....something the "younger generation" or their parents can't afford.

www.ENZOi.com here we come

 

that's not a bad idea but the Enzo is a tad out of my price range

I'm thinking more on the lines of a corolla or something

 

No an Elantra

 

Won't happen. It works like this: The ISO office (not affiliated with any company) assigns a "symbol" to every car manufactured. Symbols will range from, say, a 2 (older minivans) to a 28 or so (uber high performance sports/luxury cars). The my00 s2k has a symbol of 19, and my05 s2k has a symbol of 24. However, the my05 BMW m3 conv. also has a symbol of 24. Even if a grip of teenagers go and buy an 05 s2k and 05 M3 ownership is limited to age 35+, the cost to insure both cars should be the same--if driven by the same driver. (roughly, and only for companies that use ISO symbols).

So, the only way our rates will go up is if the ISO office decides to hike up our symbol again.

 

 

great thanks for the info

 

It's a little more complicated than that now. Most companies use a Symbol 2000 system that uses four symbols for a vehicle. One for Liability, one for Comprehensive, one for Collision, and one for PIP.

BTW, the S2K isn't all that expensive to insure. My 2002 S2K is only $94 more every 6 months than my 2000 Civic EX.

 

I pay $420 for 6 months coverage...