QuestionHello, I am 22, from Toronto, and need to get insurance for a vehichle my dad owns..i was wondering what's the bets way to go abt doing this with it having the lowest rate...
Also I'm planning to buy an SUV (used, prefferablly newer than 2004) Do insurance vary depending on whether its a high end (luxury: bmw, audi, lexus) or low end ..or they dont depend on each other?
Lastly, is there any suv you'd recommend thats good on the gas/good HP?
AnswerHi Thinesh,
You should contact several insurance companies and or independent agents to ask for a quote. You will provide all of the information that they ask for. You will need to tell them that your father owns the vehicle and that you will be the driver. Obtain several price quotes for identicle coverage. Then based on your knowledge or recommendation from your father you can select the best combination of company, coverage and price.
As far as your next vehicle goes, the cost of insurance is based on the value of your vehicle. So if you purchase a luxury SUV with a high value, the price will be higher than a lower valued vehicle. The best thing to do is to select 2 or 3 vehicles you may want to purchase and get price quotes from insurance companies on each vehicle.
I hope this helps
Richard Hixenbaugh
