How much is car and home insurance?

Question

sorry this is kinda long.. but...

im doing a project for economics class. and we have to figure out our future, like make a resume and a job app a cover letter, and all this other stuff after we picked a career we are interested in doing with our lives. so, we have to figure out our budget like housing stuff, housing bills, transportation like car insurance and car payment. investing and miscelaneous like cell phone bills internet and entertainment to name a few..

after this. we take our total monthly net pay, and subtract our total monthly expenses and thats our remaining income just for whatever.

but i am having trouble finding house insurance, and car insurance. all i am getting from searching is quotes, and i dont need that.. i jus need a straight up dollar amount. if anyone can help.. that would be great.. thanks.

Answer 1

Well, it depends on the car and the home, and your claims history, and the credit score.

For the economics class, figure the car insurance for a 20 year old is equal to the car payment.  $1500 a year if there's no car payment.

And for house insurance, figure 1% of the value of the house.

It's not accurate, the insurance people here would string me up, but those numbers will work JUST FINE for a class assignment.

Answer 2

Help yourself:) You can easily check quotes in internet, for example here: http://autoinsurance.undonet.com

Answer 3

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Answer 4

If you are buying the house (meaning you have a mortgage payment) then the house insurance (for the purpose of this assignment and in real life) would most likely be a part of your monthly payment so dont worry to much about that one.

If you are not buying a house but renting and apartment you can get renters insurance for about $35.00 a month - depending on  your area etc but that is reasonable

So if it was my assignment i would say monthly mortagage payment $890 (includes taxes, principal, interest and insurance)

***************

Quite a few things will affect (effect?) your car insurance rate, I believe your age and location will be a factor as well as the kind of car you drive, your driving record thus far (how many tickets/ accidents you have) and even your credit score

so just say you have a non sports car

lets say a toyota camry 2008, the insurance will be about $150 a month. (assuming your insurance deductable is $1000) The deductable is how much you have to pay BEFORE the insurance will kick in so the higher the deductable the less your insurance is......

If the rate of $150 does NOT fit into your budget just make your car a bit cheaper...say you have an old Ford (a gift from grandma for graduation) since it is paid for (no car loan at all) then you only need basic insurance (sr-22 in chicago) and the rate would be like $40.00 a month

Best of luck on your report

(do update us on what kind of job you got and how you did on this assignment)

Answer 5

Probably best to have a rest.looks like you can get some ideas here.http://car-insurance.online-tips.info/ca...