I don't know if the insurance companies are penalizing owners of small Hondas because some punk kids think they're racecars, but that's a distinct possibility.
I know the Civic was about $100 more per 6 months back in 2004, and I figured that was the reason. I've heard part of what killed muscle cars was rising insurance rates because of their power and racing association.
There was a rule of thumb concerning comp. and collision. I might be off on this, anyway, if their rate is greater than 10% of what the car is worth, then they aren't worth it.
Originally Posted by RiabovB
1. Is liability insurance the only one required by law? I've been recommended to purchase uninsured motorist coverage as well. I do not have to get collission, correct?
Depending on the state, you might have get under- and/or non-insured coverage. Insurance laws are governed by individual states.
Uninsured Motorist (Optional, Yes)
Comprehensive (Optional, No): I won't have expensive things in my car anyways.
Collision (Optional, No): If my car is worth only one grand, etc.
2. If I purchase insurance for six months, could I still alter/lower it if I move within those six months to another state and declare my new address?
[quote[3. I don't have any credit-cards, never had any. I only have college loans I am paying off. Would auto companies look at that?
Boris[/QUOTE]Your credit report will include those, and any other loans, along with credit cards. So, yes they'll look at that.
You are entitled to one free copy of your report for each of the 3 credit bureaus per year. You won't get your credit score, but it is a good idea to check them errors that might be hurting you. Specially before big purchases. Getting them won't cost you anything, but you might run into a site trying to sell you credit protection when you go to get your reports. So it might appear you'll have to pay, but you don't
I know for most of my vehicles, comprehensive coverage was only $40/yr. Well worth it when the tree fell on my 98 GMC K1500 last year. My insurance company paid nearly $5,000 to put my truck back together.