so i had to get a new car for work (small, 4cyl, good gas milage) and ended up finding a really good deal on an 05 dodge neon sxt with only 9900 miles. called my insurance guy to get things started and the policy finally came in the mail today. cost for 1 year of full coverage? $602. cost for one year of full coverage on my 04 jaguar x-type? $411. go figure. from an insurance point of view, a 2005 neon is worth more than a 2004 jaguar.

 

Nice. Did you list the neon as the daily driver and the Jag as recreational? That's what I do. List the nice car as a recreational car so the insurance is really low.

 

They calculate on the risk basis, like sxt is a teenagers sports car, so you gonna ride it like that and the risk factor is higher, but the X type is your luxury sedan so....

Insurance Underwriter

 

Nice info Jaguarnaut.

Insurance companies are just present day Dick Turpins............." stand n deliver".....lol
A necessary evil nonetheless

Jim

 

Jaguarnut said it right. I accesed Carfax safety reports on the Neon and it has lots of info the Insurance Companies use. The report shows POOR in many areas of passenger safety. The Jaguar on the other hand is rated mostly GOOD. The area where you live might have some to do with it. Some cars due to their rate of theft might also have a higher insurance cost regardless of vehicle value.

 

Good info guys. I'm impressed.

 

also potential collision damage by your vehicle. mine dropped sooo much after I got rid of a 95 lr disco for my 02 x sport. had to ask and was told the landy hitting anything was bad news that's why it was so expensive. go figure? Bill

 

I wonder how much would it cost to do same thing for LAmborghini Reventon lol [:-]

 

The biggest thing is that the neon from what I heard a couple of years ago were the highest stolen vehicle. The high risk of the car being stolen and how easy the car is able to be stolen kills the cost of insurance. Airbags and anti lock brakes lower insurance immensely. Every car has the insurance company rating. My moms friend works for an underwriter and they had a point scale that changed the cost of insurance for each and every car. Our jags are safe cars...think awd, dynamic stability, theft system, abs, airbags all around...I can't say it has anything to do with teenager car...the jag is just much safer car all the way around whether it be from a theft standpoint or safety standpoint...I can't wait to see what they want for an s-type r! Whether it be cheap or helluva lotta money!