First time buying full coverage on a car... What to get?

[fuzzybabybunny]

I have to get full coverage on my new Fit but I'm not sure what amounts to get. Right now I have...

Bodily injury -
100,000 each person
300,000 each occurrence

Property damage

100,000 each occurence

$188

Auto collision deductible - actual cash value - $500

$339

Auto comprehensive insurance - $150

$93

Plus some other stuff, but this is the bulk of it. Total premium is $672.88 for the Fit, and $150 for my old Echo. Am I going overkill on some of this coverage?

 

[Fenixgoon]

i believe my coverage is 250/500/100k or 250/500/250.. cant remember.

 

[fuzzybabybunny]

I think I'm unsure about this because I have no idea how much it costs to fix stuff if it gets broken. For example... My collision deductible is perhaps too low? For something cheaper like a Fit shouldn't I increase my deductible to something like $1000 or above? In six years of driving I have never been in even a fender bender.

 

[T2urtle]

i think if you dont own the car the highest deduct you can have is $500..

i always think of worst case rather then what my last 5 years of driving was. shit happen and it happens VERY fast. the best driver in the world can get hit by the worst driver and somehow with the laws the best driver could be pointed " AT FAULT "

$670 is that per 6 months or per year. PER year that is FREAKING AWESOME. Per 6 months.. no to much... is that with your mulit car discount and etc...

 

[ponyo]

Don't tell them you're using your car for business. Your rate will go up ~50%.

 

[boomerang]

A lot of this is mandated by the state you live in and what your lender will allow.

You can keep your coverages low if you have little to lose. The magic number if an individual gets sued in an auto accident where there is personal injury involved is...you guessed it, $1 Million.

You appear to have the minimum coverages for public liability and property damage. What different types of coverage are available to you where you live? It's usually quite inexpensive.

You must have paid cash for the car, because lenders will not go for ACV coverage. (Edit: I may be misspeaking on this because that terminology is not used in my state. I guess I'd have to know the particulars of ACV coverage.) They can't take the chance of the car being totaled and the loan balance not being covered. So, the question is, can you afford to take the loss if it's totaled in, for example, 2 years?

As far as deductible, it only affects your premium, not your coverage. So, the question is, can you afford $500 out of pocket or $1000 out of pocket?

Statistically speaking, you're probably overdue for an accident. Then again, so am I with 37 years of driving and zero accidents. I'm sure you're aware that you can be involved in an accident through no fault of your own.

 

[RKS]

1. get uninsured/under-insured coverage.
2. medical payments coverage.

 

[fuzzybabybunny]

i think if you dont own the car the highest deduct you can have is $500..

i always think of worst case rather then what my last 5 years of driving was. shit happen and it happens VERY fast. the best driver in the world can get hit by the worst driver and somehow with the laws the best driver could be pointed " AT FAULT "

$670 is that per 6 months or per year. PER year that is FREAKING AWESOME. Per 6 months.. no to much... is that with your mulit car discount and etc...

Yeah... that's for 6 months. And that's with all the discounts factored in.

 

[razor2025]

$670 is expensive, but not out of line. 25 yet? If you paid cash for the Fit, pick the highest deductible for collision and comprehensive. Sock away the difference in premium. If shit happens, you have the cash to take care of the high deductible. If you stay lucky, you have extra savings.

100/300/100 is certainly not minimum in my state. You can get by with 25/50/25 in GA. That's why I always get the Un/Under-insured coverage that's same as my liability. Makes me pissed at all the "We'll insure you for minimum!" ads that's constantly running in my state.

 

[alkemyst]

make sure little kitty clawings are covered and over snorgles.