I guess it differs depending where you live, but I was wondering if folks here had a formula for how much insurance you carry on an older car?

In our case, at some point we take the collision coverage off, basically when we determine that if the car was damaged significantly, it wouldn't be worth repairing compared to the cost of replacing it.

I tend to do the same thing. I ususally carry full coverage until the car gets older and then I go down to liability.

We have 2 cars to pay insurance for, but it was too much and costed us more when compared to another insurance company. I don't wish to mention the name but Geico really seemed to be lot more better than the older insurance company.

Speaking of good insurance rates, a few years ago we switched to a broker that's affiliated with my union's fraternal benefit society. We were able to get a group rate that was better than our previous rates.

I thought I'd mention it in case anyone here has a group rate from work or possibly a spouse with a similar opportunity that you haven't checked out yet.

I know that we have two cars and the house insurance on one policy which made it a lot cheaper for us. You might want to do something like that to lower the cost if you have more then one thing to insure.

Yeah we do have the same amount of insurances, 2 cars and a house insurance and now it is pretty much less when compared to the one before which we used. We checked out what options can be eliminated and what is to be insured, it really helped us to reduce the amount of insurance.

I am finding out that a lot of people don't realize that if they have both the cars and house insured under the same company that it is cheaper. Ours was quite a bit cheaper actually.

All State costed us almost 300 per month, while Geico provided us same amount for 6 mths together. That was really unbelievable. It really shocked me but its really good for us now.

This reminds me of having a small dent on a car I was leasing. It was really minor, but when I own an older car I may not repair every little mishap.

That way it doesn't affect your insurance, but if the car was leased it could affect your deposit when you return the car. In my experience, that deposit wasn't refunded because of the leasing company justified keeping it for "required maintenance."

Leasing a car would need lots of care thats what my husband feels & so never went to lease one till date. I guess maintenance is more when compared to car we own, of course both need maintenance but still no worries with the one we own.

I agree about leasing a car. It seems like so much hassle with the contracts and the small print. Then if the car is damaged in the least you are responsible. It seems like complete torture with leasing a car. Then you have the dates when it ends. They want you to buy the car.

Oh I never knew that is the date gets to an end you are supposed to buy the car. It sounds somehow a kind of mental torture. Every small issue being accounted for.

That is one of the main reasons I wouldn't lease a car. I have two young boys and would constantly feel like I was on pins and needles that they would ruin something.

Having kids and leasing a car is the one thing that is un-imaginable. It really seems to be tough to make sure they are not spoiling anything inside or out of the car and simultaneously drive if you are the only person to drive.

my dad pays my insurance i dont know about those stuff,

That is the best thing, I would rather say when you start paying it, it would surely mean a lot that minute. It really feels as if you someone is just sucking the blood off your body haha.

I don't see the point of leasing a Honda. I bought a Honda to get long term reliability; if I lease, I don't get to capitalize on that, but I still have to pay the higher cost of Honda models because of the quality.

Honda would surely need higher cost because of the quality of the model. I would rather buy a new car rather than leasing a Honda model.

You are so lucky that you don't have to pay your own car insurance. It was so nice when I lived at home and my parents payed mine. But man now I know why they were always complaining about paying for it.

I think for my next car I definitely won't lease, but maybe buy another Civic that's a couple years old.

New cars in general drop thousands of dollars in price as soon as they're driven off the lot.