Wow. In Spain you would pay between €150 to 200 per year of insurance for the typical old cheap car. 400/year for a nice, semi luxury one. I knew some things were expensive in the States, but this particular one surprised me a lot.
For each factor you change you can add another 15%-40%.
I'm paying $400/mo for 2 cars, no collision, above min medical.
edit: Upon further review, it's actually double that ($56/mo), as apparently it's billed in two-week intervals.
Yep. We all pay very high rates.
Household insurance isn't any better. We lost our last house because insurance increases over 4 years doubled our monthly mortgage payment.
I wouldn’t take the costs listed in the parent comment literally.
Our non profit Parent teacher association and the schools themselves have to carry insurance for events in case someone happens to get injured.
Tribal reservations don't require license plates or insurance usually, and you cab choose to self insure if you have sufficient cash set aside.
I think you are ignoring the third party risks - damaging an expensive car or hurting someone. In that situation, you use insurance if you want to protect your money. If you have no money, insurance make little sense, and you just suck up the risks of pranging your beater.
Absolutely beg to differ. I was on a high-deductible, low-benefit plan for a two-year old used economy car in Louisiana with no marks on my driving record for $250/month. The insurance cost was more than the monthly cost of the car. That being said, it was more than the state mandated liability insurance, but it still wasn't anywhere near the levels of insurance I now have in Washington State on a brand new Tesla Model 3. As you mentioned, it's highly dependent on where you live, but it's absolutely feasible to be paying $200-$300/month for insurance.
Edit: Apologies to parent comment. This was a reading comprehension failure.
Source: I live in New Orleans.