Need opinions on insurance, and other questions - Ford Mustang Forum
 
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post #1 of 9 (permalink) Old 05-03-2012 Thread Starter
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Need opinions on insurance, and other questions

So my mom went out and checked what the price increase would be for the cobra (not getting one, just to see what the highest price would be for insurance) and it would only be 100 dollars more per year than my current car! Success.

Now the question is, should I get insurance to cover my car too? My current car is just the beater and we never had to worry about that, but if I'm working hard and saving up for a mustang, should I pay that extra moola to cover my car too?

Also, since I heard of this, I can get a GT. This excites me, because I would rather mod a GT/ I love the sound of V8's.

My years I'm going for are 1999-2004. All the GTs in those years around this area are easily $6500+. I could do $6000, but over that and it's sorta pushing it, especially if I want some mods added fairly soon.

Whats a good price for, say, a 2000 Mustang GT with leather seats and about 100,000 miles on it?

Thanks!


2000 Mustang GT
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My pride and joy, my first car ever. Bought on 6/2/2013.

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post #2 of 9 (permalink) Old 05-03-2012
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what? You drive and don't have insurance? What if you hit someone or have a wreck? How could you afford the massive hospital bills? Answer: you can't, your life would be over financially until the end of time and your mother could be sued for negligence..thank goodness in FL it's the law you have to have insurance...you brag about no alcohol and drugs? Great, now man up and pay for insurance like the rest of the planet no matter what you drive

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post #3 of 9 (permalink) Old 05-03-2012 Thread Starter
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...?

NOWHERE did I say I don't have insurance. Get a reality check.

I currently have insurance. It only covers the payments if I hit another car. The insurance I currently have doesn't insure for any damage ON MY CAR I might get for hitting something. It only insures the damage on the other car.

If I get a mustang, the increase in insurance would only be a mere 100 dollars more a year.

Now I'm asking, what would be a good idea, sticking with insurance that only insures for the damage on the other car, or getting insurance that also covers any damage that I might get on my car?

I know it's the early hours still but it sure ain't monday. If you have some real life problems I feel for you but don't start riding on a high horse trampling on everybody.

2000 Mustang GT
Black/Black 5speed
Performance: stock

My pride and joy, my first car ever. Bought on 6/2/2013.

Check it out at my channel here: youtube.com/mustangfanatic95
Expect more vids in the Spring: Car shows, cruises, fly-bys, etc.
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post #4 of 9 (permalink) Old 05-03-2012
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I would definitely sway towards full coverage just so you may have peace of mind. Once you get behind the wheel of that V8, eventually, you will be tempted to speed a little more often, and maybe in some cases get careless. I know when I was younger, I surely did. It would relax me to know that I'm covered whether someone hits my car or I run into a side-rail. I would opt for the full coverage. Good luck to you.

Patrick M.

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post #5 of 9 (permalink) Old 05-04-2012
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I would think that collision coverage on "your" Mustang would be more the $100 over the cost of no collision coverage on you beater.
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post #6 of 9 (permalink) Old 05-04-2012
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Quote:
Originally Posted by LostInTennessee View Post
I would think that collision coverage on "your" Mustang would be more the $100 over the cost of no collision coverage on you beater.
A cobra too at that...someone messed up.
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post #7 of 9 (permalink) Old 05-06-2012 Thread Starter
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It's going to be under my mom's name as her car, but I'm paying for it..So yes, it'll be "my" mustang.

2000 Mustang GT
Black/Black 5speed
Performance: stock

My pride and joy, my first car ever. Bought on 6/2/2013.

Check it out at my channel here: youtube.com/mustangfanatic95
Expect more vids in the Spring: Car shows, cruises, fly-bys, etc.
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post #8 of 9 (permalink) Old 05-07-2012
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I keep full coverage on all of my vehicles - but that's considerably less expensive when you're not 16. Realistically, though, if you're in the market for your "dream car", it only makes sense to protect it - especially if you're looking at a RWD V8. Your highest cost in insurance is generally the liability, anyway - so adding collision won't hurt that much.

Should you decide to stick with liability, however, I'd make sure to look into having uninsured motorist, if you don't have it already. In the event that you're in an accident that's not your fault, and the other party involved doesn't have any insurance (for whatever reason), this way you're at least covered. I've seen close friends lose out entirely in this same situation.

2014 Ford Mustang 3.7l V6 - 15,000M
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post #9 of 9 (permalink) Old 05-18-2012
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you can never have to much insurance

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