In my experience they ask you which will be the "2nd car" (e.g not your daily driver) and give you a reduced rate on that vehicle. So overall you'll end up paying more, however you can do a "switcheroo" and claim the "2nd car" is your sports car thereby reducing the premium on the more expensive vehicle. No idea how they go about enforcing that though.. I assume getting into an accident on your way to work in your "2nd car" when you claimed your Honda Fit is your daily driver may cause problems when it comes time to claim..
Actually, after thinking about it some more, this doesn't make sense. Isn't insurance based off of the probability of getting into an accident and the company having to fork over whatever? Well, having to pay twice the insurance is suggesting that if I get into an accident it will somehow involve BOTH vehicles. Which obviously isn't true -- it'll be one or the other. The question is, which one will the insurance company have to cover?
I've never heard of an insurance company charging full price for a 2nd car, especially if this 2nd car is less valuable than the primary vehicle. In most cases it should be heavily discounted or a small token amount. Think of it this way, if your primary car is a Porsche and you're paying $150 a month then you go out and buy a '95 Buick, the insurance on this 2nd vehicle should be practically nothing. Why? Because the insurance company wants you to drive the Buick as much as possible because you are already forking out a heavy premium on the Porsche, and the more you drive the Buick, the more likely you are to get into an accident where they only have to pay out a fraction of what they would if you wrecked the Porsche.
In this case, both vehicles have the approximately the same value (08 Mustang GT and a new 2014 Fiesta). So, in my mind insurance should stay about the same. Not fucking double.
Then tell your insurance company to go fuck itself.
Depends on where you live/driving record. Back when I gave a shit about cars, I had a 900T, a 964 and C4 Vette and my insurance was less than $80/mo. Early 30's, unmarried.
I'm paying just over $100.00/month on my 2010 Nissan Z with Progressive. Out of curiosity, just a few weeks ago, I quoted replacing it with a 2014 Porsche Cayman S and my policy went down $10.00/month!
