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Car Insurance

Gunslinger08

Gunslinger08

Lifer
I'm new to the scene of car insurance, being fresh out of college in December. I need some guidance by people more experienced than I. I will probably be driving a car worth $30 to $35k.

Which companies are good, and which should I avoid?
What type of limits should I have for my coverage? Is the minimum enough? Is a $1000 deductible insane?

I've only had one accident in my 5 years of driving, and the other driver was at fault (and his company paid for the damages).
 
Depends on how much you want to protect.

In m ycase, living in an apartment, with no property under my name aside from my 4k car, I have the minimum limits as I have heatlh insurance and dont' have to worry about that. Otherwise, i'll just declare bankruptcy since I have nothing to protect.

If you have a house, other assets (assuming you'll be driving a 35k car) you should have higher limits. Remember that if you're doing what I'm doing though, you should have no ties (ie, being with someone else on the policy, as they'll go after them too).

My brother, being like 7 years older then me, having a wife, 2 babies, 2 cars and such, has like 100/200 i think, and a million umbrella policy because it makes sense in his financial position.
 
Originally posted by: Kelvrick
Depends on how much you want to protect.

In m ycase, living in an apartment, with no property under my name aside from my 4k car, I have the minimum limits as I have heatlh insurance and dont' have to worry about that. Otherwise, i'll just declare bankruptcy since I have nothing to protect.

If you have a house, other assets (assuming you'll be driving a 35k car) you should have higher limits. Remember that if you're doing what I'm doing though, you should have no ties (ie, being with someone else on the policy, as they'll go after them too).

My brother, being like 7 years older then me, having a wife, 2 babies, 2 cars and such, has like 100/200 i think, and a million umbrella policy because it makes sense in his financial position.
Click to expand...

Well, I'm single for atleast the next 3 years, and I have no other real assets. I'll either be living in an apartment with roommates, or at home with the parents. No need for me to buy a house for just myself.
 
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