Car insurance - No history (Los Angeles: 2014, leasing, credit score)

[Lagrange]

Hi,
I'm French and will work in Los Angeles for a couple years.
I will buy/lease a car during my stay, and I'm trying to estimate a budget for this.
I'm 36 years old, married, one kid, and no history of driving in the US.
My car will be a classic sedan I guess, like a toyota camry, that kind of car.
How much do you think I will have to pay for the insurance ? I know it depends on the options, but I'm looking for the classic options everyone usually takes.
Also I'm just looking at an estimate since I have no idea how expensive inssurances are in the US.

Thanks a lot

[blktoptrvl]

I do not know if having a foreign license will help or not... You will have to check with the company.

However, most people in the US without a driving history will pay the maximum rate. Usually it is so high that they only buy liability. If you plan to buy the car with a loan, you will most likely be required to purchase liability, collision, and comprehensive coverage. However, if you can pay cash, then you can buy liability only and that will lower your cost.

As far as "classic," do not use that term. It is not appropriate and may confuse insurers. What you are looking to buy is "used."

[Lagrange]

My foreign licence won't be good enough, I will have to get the californian driver's licence, but that's ok, it's very cheap compared to ours..

I was also looking at a car leasing possibility but if it's a new car + the fact that I don't have a driving history + (as you said) the fact that I might have to take the collision and comprehensive coverage, it will cost a lot I guess.
Do you think 150$/month is a good estimation ?

[nightlysparrow]

The problem with leasing is that you will pay a substantial penalty for all miles over a certain amount, usually 12,000 miles. That is nothing in SoCal.

This is for the WHOLE state. Presume SoCal is worse than the Bay Area:
Annual per-capita California driving 1.5 times the national average | Air Quality Matters

[brrabbit]

Don't ask us here, go to Progressive.com or Geico.com and get yourself a quote.

Now, if you bring proof of insurance without incidents from France, it may be counted by american insurance history. I had made this trick when just arrived to USA, many friends I had did the same.

I'd buy used japanese car (10 years old probably, but in good condition and with all necessary maintenance performed - at least timing belt replaced) with cash and insurance with liability and uninsured motorist coverages. It'll probably cost under $100/month, maybe even less.

If you decide to buy new or slightly used car with financing, or lease one, you'll have to add collision and comprehensive coverages. The only cost saving trick there would be to raise your deductible to highest permissible minimum (1K probably). Collision and Comprehensive coverages are most expensive components of the insurance. I would plan on $300/mo if you have no driving history (couldn't bring your french papers or convince insurance company to take them).

Also, the less miles you report driving to/from work (the closer you live to the office), the cheaper insurance.
Also, insurance price depends on the area where you live (based on how often cars are stolen from that area).

[brrabbit]

Originally Posted by Lagrange

My foreign licence won't be good enough, I will have to get the californian driver's licence, but that's ok, it's very cheap compared to ours..

I think foreign license is good for a year. It's definitely not a problem to buy insurance with foreign DL.

[jinmcx]

how much is everyone's insurance

[Kaphawoman]

I don't think the OP meant classic as in used--I think he meant classic as in standard/typical/common.

OP you have no record of accidents or speeding tickets so that's a good thing, but you also have no credit history here which is bad. Most but not all insurance companies pull your credit to determine rates. They also use your zip code (frequency of accidents there). Since LA is humongous, rates will vary depending on which part of town you will be living in. Used car rates will be higher than new ones. People can even get discounts for having a college degree or being a member of certain unions. I drive a paid-off Corolla (10 years old) and pay $800 a year. Oh they charge $2 or $3 a month for the privilege of paying in monthly installments. I only have the state-required minimum coverage though.

[Lagrange]

Thanks for all the replies !
Looks like it would be more reasonnable to buy an "old" used car anyway. I'll put my california dreamin' of shining new car aside for a while
And indeed, by "classic" i meant "typical".
Thanks for the numbers brrabbit and Kaphawoman, very appreciated.

[2sleepy]

Originally Posted by Kaphawoman

I don't think the OP meant classic as in used--I think he meant classic as in standard/typical/common.

OP you have no record of accidents or speeding tickets so that's a good thing, but you also have no credit history here which is bad. Most but not all insurance companies pull your credit to determine rates. They also use your zip code (frequency of accidents there). Since LA is humongous, rates will vary depending on which part of town you will be living in. Used car rates will be higher than new ones. People can even get discounts for having a college degree or being a member of certain unions. I drive a paid-off Corolla (10 years old) and pay $800 a year. Oh they charge $2 or $3 a month for the privilege of paying in monthly installments. I only have the state-required minimum coverage though.

Auto insurers are banned from using your credit score to set auto insurance rates in California. They are primarily supposed to use your driving record, and can use your zip code only secondarily which is a huge joke because I've played around with rates online and the zip code seems to change the rate more than the driving record. Does California Auto Insurance Rate on Location Despite Prop 103 | compare.com