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> Compared to car insurance which can be $100-$200/mo How does that work? In the U.K. my insurance is $200 a year! Is that a normal price or something extreme
by midasuni 4y ago
> Compared to car insurance which can be $100-$200/mo
How does that work? In the U.K. my insurance is $200 a year!
Is that a normal price or something extreme
- michael1999 4y agoThat is a normal price. - A car crash in the US can generate million dollar hospital bills. Personal liability cover of $2million is standard. - American regulators require air bags to detonate quicker which might 10x collision repair costs. - Americans are rich, and drive very expensive cars. - Americans drive many more miles, which increases risk. - US driving tests have significantly lower standards than the UK.
- jmalicki 4y agoIt's actually quite low, I've only seen that low for liability-only coverage. My bet is that it's due to insane medical expenses and death liability, which can easily have claims into the hundreds of thousands and millions (if your coverage even goes that high)
- 1123581321 4y agoMean individual auto insurance cost in the UK is around £500. You're getting a deal. Americans still pay more, though. If I had to guess why, it would be that Americans drive more miles, and it's easier and cheaper to drive while inexperienced in the US.
- MandieD 4y agoSince most Americans take loans to buy cars, they have to carry full (or low deductible) collision (your fault) and comprehensive (theft, vandalism, weather, etc) insurance, not just liability. Also, insurance against damage by uninsured motorists is crucial, and can be a large part of the bill.