Hi
I spoke to an insurance person ( in passing!) about the approximate price to insure a brand new suzuki vitara $23000 list price. She didnt look in the system but told me i should expect to pay 80000 peso per year to insure it.
Does this sound reasonable?
Check around......prices vary......just make sure you compare coverages.....not just prices.
And.....some insurers have a better reputation than others.....seek recommendations.
Your driving distances/location may dictate what coverage is best/right for you.
As I have clients all over the Island, I still carry full insurance. Just paid 26,000 for full coverage on one of my vehicles, a 2007 Toyota Corolla.
Note that if you have a loan on a vehicle, the bank will likely dictate that you carry full insurance.
After the loan is paid you can then opt for minimum coverage if you desire.
I would not recommend minimum coverage unless your vehicle is very old, you drive mostly locally, and you are willing and have the means to self-insure if you have an accident/claim.
Respectfully,
Playacaribe2