What kind of auto insurance coverage do you have and why?

[LS21]

im moving to a new place and, consequently, reinsuring my car.

im going through the process of customizing a package, and curious what kind of coverage other people are buying. also, if you could help me out on my coverage that would be good

age 24 (grrrr!)
location: denver
neighborhood: a "historic" (aka "sketchy" "hip" "up n coming") , 80% gentrified neighborhood
auto: 2005 honda s2000 (rear wheel drive sports car)
health coverage: extremely good
driving: lightrail / bicycle to work. i estimate only 3000mi/year on the car (groceries/weekend)


-my car is extremely expensive to insure (high accident rate), and it doesnt help that i am 24.
-good thing i will barely put miles on the car.
-though i personally feel the neighborhood is safe, the zip code wont help.
-because of good personal health insurance, im decliding medical payments (MED)

right now i have :
BI - bodily injury liability: 25/50k
PD - property damage liability: 20k
MED - medical payments: 0
uninsured motorist: 25/50k
uninsured motorist property: 0
COMP - comprehensive: 500 deductible (fear theft of seats, stereo)
COLL - collision: 500 deductible
ERS - emergency road service: 0
RR - rental reimbursement: 0


advice?

 

[Ryan]

MMMmmm - lovely car I hate the days when I go to the AutoX course, and see a sea of S2000's. One day....

Also - do you quality for USAA Membership? Their rates, for me at least, were usually more competitive than most other big insurance names, and stellar service.

 

[Svnla]

I don't see why you need rental reimb and emergency road. I used to have them and never used them.

Med? Don't you have regular health insurance?

See if you can bump the $500 ded to $1K <if you can handle it and if you can get lower rate>.

I have very much the same insurance as you except no rental, emergency road, and med.

Shop around, call big carriers like State Farm, All State, Geigco, and the likes and see how much they charge you. Tell them about the low miles you will drive and see if they will give you a break.

If you are still a student or a grad student, companies will give you discount. If you have a house and insure the car with the same company, you will get a break.

This will help... http://moneycentral.msn.com/ma.../home.aspx?iMarketID=8

 

[LS21]

With geico, ive got Rental/Emergy, and Med zero'ed out, with 1k deductibles, full-time occupation: 880$ versus 1050$ as quoted above [only difference is deductible price]

i wish there was a "common" application ... spending too much time typing out parameters on these websites!!!!!!!

this car is good for texas , but practically worthless for colorado: (1) not good in snow, (2) cant carry skis, (3) cant carry my bikes (well), and (4) i dont drive to work; however, i love it too much to part...

 

[Chiropteran]

I have collision, liability, and dinosaur attack insurance. But I think the collision insurance is a waste of money, if someone hits me it's their insurance that will pay for the damages.

 

[alkemyst]

Unless you have no assets I'd raise the 25/50/25 to 100/300/100.

You don't want to get into a situtation where the court deems you were under insured.

It shouldn't cost much for this. Comp/collision is where most of your costs will be.

I got a very competitive quote from allstate. They beat progressive by a lot.

 

[brtspears2]

You have to make sure that the comprehensive coverage you buy covers after market equipment, since you mention seats and stereo. Some policies do cover these, some don't, and some require you to buy additional property insurance to cover it.

 

[Ns1]

liberty mutual. really high #'s. 1k deductible. 1700/year.

30% discount for USC alumni =D

 

[LS21]

Originally posted by: alkemyst
Unless you have no assets I'd raise the 25/50/25 to 100/300/100.

You don't want to get into a situtation where the court deems you were under insured.

It shouldn't cost much for this. Comp/collision is where most of your costs will be.

great tip - i have no house but car is paid for. 1/3/1 only went up by dollars a month. thanks!

 

[Svnla]

Originally posted by: Chiropteran
I have collision, liability, and dinosaur attack insurance. But I think the collision insurance is a waste of money, if someone hits me it's their insurance that will pay for the damages.

Not if they are driving without any insurance or have any assets for you to sue them. Yup, down here, it is about 1 out of 4 drivers is driving without any insurances whatsoever.

 

[Chiropteran]

Originally posted by: Svnla

Originally posted by: Chiropteran
I have collision, liability, and dinosaur attack insurance. But I think the collision insurance is a waste of money, if someone hits me it's their insurance that will pay for the damages.

Not if they are driving without any insurance or have any assets for you to sue them. Yup, down here, it is about 1 out of 4 drivers is driving without any insurances whatsoever.

But it's illegal to drive without insurance here.

 

[Svnla]

Originally posted by: Chiropteran

Originally posted by: Svnla

Originally posted by: Chiropteran
I have collision, liability, and dinosaur attack insurance. But I think the collision insurance is a waste of money, if someone hits me it's their insurance that will pay for the damages.

Not if they are driving without any insurance or have any assets for you to sue them. Yup, down here, it is about 1 out of 4 drivers is driving without any insurances whatsoever.

But it's illegal to drive without insurance here.

Yeah, it is illegal anywhere in the US because it is the law but there are people doing it. Tons of them.

People only pay 1 month of insurance to get the paperwork/insurance card then drop the coverage and then repeat again next year to pass car inspection <only pay 1 month out of the year>.

Been there, done that <got hit by uninsured driver...thanks goodness only the bumper and not the whole car>

 

[LS21]

^^^ both of my sister have had no-fault collisions with uninsured motorists... most recently just LAST WEEK! the estimated rate of uninsured motorists here is a startling 33% --- 1 of every 3 drivers is uninsured. at the expense of being non-PC/offensive/stereotyping, most of these people have a "commonality".

anyway, thse are the prices

statefarm: 850$
farmers: 1000$
progressive: 1000$
geico: 1050$
allstate: 1250$

im quite surprised to see such a big variance at the extremes. unless there is drastic service quality difference between statefarm and the rest, i think ill go with them

 

[Ryan]

Originally posted by: LS21
^^^ both of my sister have had no-fault collisions with uninsured motorists... most recently just LAST WEEK! the estimated rate of uninsured motorists here is a startling 33% --- 1 of every 3 drivers is uninsured. at the expense of being non-PC/offensive/stereotyping, most of these people have a "commonality".

anyway, thse are the prices

statefarm: 850$
farmers: 1000$
progressive: 1000$
geico: 1050$
allstate: 1250$

im quite surprised to see such a big variance at the extremes. unless there is drastic service quality difference between statefarm and the rest, i think ill go with them

Do you qualify for USAA membership? Parents or grandparents in the military? Seriously - if you do, check their rates out - they also offer a dizzying array of financial services and great rates.

 

[LS21]

Originally posted by: Ryan


Do you qualify for USAA membership? Parents or grandparents in the military? Seriously - if you do, check their rates out - they also offer a dizzying array of financial services and great rates.

ive always heard that USAA is spectacular but i do not qualify =\

 

[prontospyder]

might want to check out ANPAC too.
it's about $400/6 months to insure my 03 Altima. coverage is 250/500.
I do insure other cars/home with them too.
I'm in Denver too.

 

[Ryan]

Originally posted by: LS21

Originally posted by: Ryan


Do you qualify for USAA membership? Parents or grandparents in the military? Seriously - if you do, check their rates out - they also offer a dizzying array of financial services and great rates.

ive always heard that USAA is spectacular but i do not qualify =\

We3ll shucks

 

[DrPizza]

Originally posted by: Svnla

Originally posted by: Chiropteran

Originally posted by: Svnla

Originally posted by: Chiropteran
I have collision, liability, and dinosaur attack insurance. But I think the collision insurance is a waste of money, if someone hits me it's their insurance that will pay for the damages.

Not if they are driving without any insurance or have any assets for you to sue them. Yup, down here, it is about 1 out of 4 drivers is driving without any insurances whatsoever.

But it's illegal to drive without insurance here.

Yeah, it is illegal anywhere in the US because it is the law but there are people doing it. Tons of them.

People only pay 1 month of insurance to get the paperwork/insurance card then drop the coverage and then repeat again next year to pass car inspection <only pay 1 month out of the year>.

Been there, done that <got hit by uninsured driver...thanks goodness only the bumper and not the whole car>

Wow, the people who run your state must be idiots if they let a problem like that go on. NY: if your car is uninsured for even 1 day while it's registered, you're fined. Insurance companies are required to report any lapses or terminations in coverage to the state. You cannot re-register the vehicle until you pay the fine. (Alternative, you can take the vehicle off the road for a number of days equal to the number of days in which your insurance was expired; you can use this option only once in umpteen years though.) The next step is loss of license if the fine isn't paid. I'm happy for this particular extra layer of bureaucracy - it ensures that the vast majority of drivers on the road are insured. You might manage to drive for a few months without insurance, but once the registration sticker color changes, you're screwed if you try to drive.

 

[TallBill]

(Alternative, you can take the vehicle off the road for a number of days equal to the number of days in which your insurance was expired; you can use this option only once in umpteen years though.)

What's the process on that? Owning a car without insurance doesn't break a law, it's just the driving part that does. Sounds like NY goes a little overboard.

 

[amdhunter]

Originally posted by: TallBill

(Alternative, you can take the vehicle off the road for a number of days equal to the number of days in which your insurance was expired; you can use this option only once in umpteen years though.)

What's the process on that? Owning a car without insurance doesn't break a law, it's just the driving part that does. Sounds like NY goes a little overboard.

Friend of mines had to do that. He drove without insurance for ~1 week, got ticketed, and they let him go. You can get caught without insurance only once over a period of 5 years.

I have maximum coverage for everything, roadside assistance, mechanical breakdown + $500. I also live in a shithole. My rectum is bloody after I pay my insurance bill.

 

[onlyCOpunk]

I'm in Denver too and I have Statefarm. Although I haven't really shopped around I've had state farm for 10 years now.

 

[sactoking]

You may have good health insurance, but I would advise you still get Med/PIP coverage. Even though Colorado doesn't let you double-dip on coverage like Nevada does, it is still very valuable. I have seen too many people rely on health insurance to cover them only to have their claims denied. In the long run, health insurance can be made to pay for your injuries, but do you REALLY want to risk being denied treatment until the dispute is resolved? The best thing about Med/PIP is the 'no denial of coverage' and (better yet) NO DEDUCTIBLE! Many people have $1000+ deductibles on health insurance. Med/PIP pays first dollar. At the very least, get Med/PIP to cover your deductible amount!

Another thing to think about is catastrophic injury. Most people don't realize how quickly a LIFEflight and ICU trip adds up. Health insurance plans DO have lifetime limits for benefits. Do you want to declare bankruptcy if you're in the ICU? Med/PIP at least helps reduce the chances.

Lastly, if you don't mind being a bit duplicitous, you CAN profit from Med/PIP. Just pay the claim yourself and send it to health and auto for reimbursement. So long as health doesn't find out auto paid, you could keep both reimbursements.

 

[LS21]

Originally posted by: sactoking
but do you REALLY want to risk being denied treatment until the dispute is resolved? The best thing about Med/PIP is the 'no denial of coverage' and (better yet) NO DEDUCTIBLE! Many people have $1000+ deductibles on health insurance. Med/PIP pays first dollar. At the very least, get Med/PIP to cover your deductible amount!

Another thing to think about is catastrophic injury. Most people don't realize how quickly a LIFEflight and ICU trip adds up. Health insurance plans DO have lifetime limits for benefits. Do you want to declare bankruptcy if you're in the ICU? Med/PIP at least helps reduce the chances.

i have 100% hospital coverage on my current health insurance, and most everything else is a 25$ co-pay access.

i cant think of any circumstance where i would be denied coverage. i think lifetime limit is 2m? if ever i be in a situation where i would exceed that limit, i dont think a ~25/50 marginal extension through auto-insurance would do be much good.

i might be be short-sighted here, and correct me if i am; thanks for your suggestion

 

[Jugernot]

Holy crap, those are some high deductiables there. Here is what i have:

BI: 100/300K
PD: 50k
MED: 5k
uninsured motorist: 100/300k
uninsured motorist property: 50k
COMP: 0
COLL: 500

This is for 2 trucks (one 2004 and a 2007), 2002 car, trailer, 2 four wheelers

I pay a little higher than average at $1700 every 6 months, but I like the coverage. I use USAA....

Jugs

 

[LS21]

Originally posted by: Jugernot
Holy crap, those are some high deductiables there. Here is what i have:

COMP: 0
COLL: 500

This is for 2 trucks (one 2004 and a 2007), 2002 car, trailer, 2 four wheelers

My car hasnt been tampered with for 2 years in apartments Houston (knock on wood), and I project fewer crimes in Denver.

Also, I think my parts are more delicate and expensive (HID lights, wheels, suspension components, etc), compared to a pick-up truck. So in a collision, the deductible-to-claim ratio scales out the same. On cursory inspection, anyway...