money can't buy common sense

[RKS]

Just found out an old acquaintance wrecked his Ford GT last year. Paid cash, and according to my brother he didn't have active insurance.

When I talked to the acquaintance a few days ago he did mention he needed an attorney to handle an insurance matter for him.

http://jalopnik.com/5491061/ford-gt-meet-wall

 

[jlee]

ouch

 

[amish]

so is his girlfriend's teeth/mouth ok?

shame about the car too. i've always wanted one of those.

 

[manimal]

Oh man thats a bad day made worse by trying to be cheap and not insure.


See if he will let you have it cheap rks!

 

[Squisher]

Does anybody actually read their policy? If you did you'd ask what's all this stuff about personal liability, property liability, bodily injury, etc. and find out what it can cost you if you don't have it. There's some big numbers in there.

 

[RavenSEAL]

Insurance is for poor people that can't afford the worst possible outcome. However, when you're driving around a Ford GT, i'm pretty sure you might just be fine.

 

[soccerballtux]

Insurance is for poor people that can't afford the worst possible outcome. However, when you're driving around a Ford GT, i'm pretty sure you might just be fine.

I don't follow. You're required to carry it by law. Why can't everyone self insure, or, what do I have to do to self insure?

 

[Zap]

I don't follow. You're required to carry it by law. Why can't everyone self insure, or, what do I have to do to self insure?

You CAN self insure. Basically you need to prove that you have the financial responsibility to cover paying for damage/injuries that you cause. It may vary by state. This is for California.

Financial responsibility is required on any vehicle operated or parked on California roadways.
...
Types of financial responsibility

• A motor vehicle liability insurance policy
• A cash deposit of $35,000 with DMV
• A DMV issued self-insurance certificate
• A surety bond for $35,000 from a company licensed to do business in California.

Not sure how the "self-insurance certificate" works, but for the other options most people probably don't have $35,000 on hand to tie up doing nothing. Thus, a few hundred a year (more or less depending on age/location/driving history/etc.) in the form of motor vehicle liability insurance is the preferred option for most.

I know someone who used to do one of the other methods years ago instead of paying for insurance. I think it was $10,000 at the time.

 

[HarryLui]

This stupid decision should cost him.

 

[soccerballtux]

wow $35k that doesn't make any sense at all to just have it sitting around doing nothing. You should be allowed to have it in an options trading account or something at least so that you can be investing off it.

 

[MotF Bane]

wow $35k that doesn't make any sense at all to just have it sitting around doing nothing. You should be allowed to have it in an options trading account or something at least so that you can be investing off it.

But this way the state DMV can invest it for their purposes.

 

[Subyman]

Hmmm, I don't understand why he doesn't have common sense. It give no reason for the wreck. How do you know a deer didn't run out or his tire burst?

I'm glad the driver and passenger were okay.

 

[Bignate603]

Hmmm, I don't understand why he doesn't have common sense. It give no reason for the wreck. How do you know a deer didn't run out or his tire burst?

I'm glad the driver and passenger were okay.

If there was a valid cause he wouldn't be getting charged for "failure to control his vehicle"

 

[Subyman]

If there was a valid cause he wouldn't be getting charged for "failure to control his vehicle"

That is, of course, speculation. People like to label the drivers of high end cars "morons" when they happen to be in an accident. It is definitely justified when they are street racing or going really fast, but it seems to be a blanket comment when any high end car is in an accident these days.

 

[TheKub]

If you can't afford the insurance you can't afford the car.

 

[AMCRambler]

This thread makes me cry. The worst part is he probably doesn't even care. I keep envisioning those Most Interesting Man In the World commercials. "I don't always wreck my Ford GT's, but when I do, I drink Dos Equis. Stay thirsty my friends."

 

[AstroManLuca]

The pictures on that website don't work for me even after disabling AdBlock.

 

[Bignate603]

That is, of course, speculation. People like to label the drivers of high end cars "morons" when they happen to be in an accident. It is definitely justified when they are street racing or going really fast, but it seems to be a blanket comment when any high end car is in an accident these days.

Sure it's speculation and maybe there was some mitigating circumstances. However, take a look at what we know about it:
1. It happened on an open stretch of major highway
2. It was a single car accident
3. It happened at night
4. The guy hit the median

I'm going to go out on a limb and say the guy was doing something stupid.

 

[AdamK47]

That's not too far from where I live.