How much more will the insurance go up? From Ford Ranger to Ford Mustang.?

Question

I saw my dad right a check for my ranger to the insurance place for $75.. im about to get a 2003 mustang. How much will it cost for that on estimate just liability and it'll be on my parents insurance?

Im 16 year old male with a 3.0 gpa. I have my own job too.

Answer 1

if the value of the mustang is worth more than the truck it will go up ---cause if you smash it --it would cost more to total + if the engine is bigger ,the price goes up too.

Answer 2

Only your insurance company can give you a good answer to your question. There are just too many variables to give a simple answer. It depends on the year model, how often that vehicle gets in accidents, how often it is stolen, what safety equipment it has, how expensive are repair parts, and how high your want your deductible to be. These are all things that insurance companies take into consideration when setting rates.

If you are only going to get liability (which is not a good idea) then some of these factors won't apply. If you take out a loan to buy the new car, the lender may require that you have more than just liability.

Answer 3

if you are carrying liability only now and that is what you will carry on the mustang it should not change at all.  liability limits are set by the state and since you are insuring damage you cause to others and not the car you drive, it won't matter.  the only time your rates would change when you change cars is if you are carrying full coverage.  then it matters!