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

[Deeko]

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.

Don't be naive, that doesn't stop people from driving uninsured.

I went through that situation 2 years ago, someone hit my car, was uninsured (although they had a valid card...they had previously canceled the policy). I didn't have collision, so my insurance wouldn't help me. I was on my own to go after them for that money. It's a huge pain in the ass.

 

[sactoking]

Here's the most common scenario I saw for a denial of coverage when I was in claims:

Hospital: How did you get hurt
Victim: I was hit by a car
Hospital: Oh. Do you have their insurance info?
Victim: Yes, but liability hasn't been settled
-or-
Victim: No
Hospital: Oh, well, your injuries were really the other person's fault. Your insurance won't cover it. You have to use their insurance.
Victim: Ok, well.......

Hospitals and doctors will often REFUSE to accept your health insurance if you tell them you were an accident victim. Too often in the past they would take your word, give you treatment, then get hosed when the health insurer denied the claim. Now, they've "wised up"; they just refuse to handle you if there's a chance the coverage will be denied.

You're right, in your case many of the other Med/PIP benefits would probably be negligible. I do think, however, that deniability is a large factor. I have seen health insurers deny accident victims coverage for any and all reason. Med/PIP is VERY cheap, comparatively. You can get $10,000 of coverage, often for <$8 per month. Compared to health insurance, that's like a gift. I'm a firm believer that everyone will be wrongfully denied coverage at some point. I prefer to have a backup plan for when it happens to me.

 

[LS21]

^ill call my insurance to check policies for sure; thnx!

 

[alkemyst]

his stock seats should be covered no matter what.

 

[JS80]

Most minimal minimum allowed by geico.

 

[Me Llamo Hefe]

BI 15/30
PD 10
UM 15/30
Med Pay 0
Comp ded 500
Coll ded 500
no rental
no towing

I have no real assets other than my car so I don't need anything more than the legal minimums. This coverage costs me $378 every six months.

 

[Mermaidman]

Your liability coverages seem rather low. Do you have assets to protect?

 

[jlee]

Originally posted by: Svnla

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

No, it's not (NH). However, if you're at fault without insurance, you're getting shafted...

 

[RaistlinZ]

Originally posted by: Me Llamo Hefe
BI 15/30
PD 10
UM 15/30
Med Pay 0
Comp ded 500
Coll ded 500
no rental
no towing

I have no real assets other than my car so I don't need anything more than the legal minimums. This coverage costs me $378 every six months.

I think the fact that you don't have any assets is the reason to have higher liability coverage. How would you pay if you're at fault for an accident and the person's medical bills are $50,000?

Here's what I'm paying for Progressive:

BI/PD: 25/50/25
UM: 25/50
UMPD: 0
Med Pay: 0
Comp: 500
Coll: 250
Rental: $30/30days
Roadside Assistance
----------------------------
= $596.90 for 6 months


Also, uninsured motorist property damage just covers damages done to my car or items inside my car, right?

 

[BurnItDwn]

I have a 1999 Chrysler 300M. I am 28 now, but I was only 22 when I bought it. I probably have more insurance than I need currently (collision & comprehensive), but money is a bit tight and I don't want to be screwed over should something happen.

Bodily Injury
Each Person, Each Accident
$100,000 $300,000

Property Damage Liability
Each Accident
$100,000

Medical Payments Each Person $5,000
$250 Deductible Comprehensive
$1000 Deductible Collision

Emergency Road Service (like $3 every 6 months)
Car Rental/Travel Expenses (like $10 every 6 months)
Each Day Each Occurrence
$25 $600

Uninsured Motor Vehicle
Each Person, Each Accident
$100,000 $300,000

Underinsured Motor Vehicle
Each Person, Each Accident
$100,000 $300,000

Right now my total payment is around $70 per month. (a bit less, and I pay for 6 months at a time.)

At the time that I bought the car (2002), I had 1 speeding ticket on my record, and I was paying $210 per month. I was able to find insurance for $160 per month later that year. Since then I've changed providers twice. It might helps to shop around for cheaper insurance or to call your current provider and see if their retention people will cut you a discount.

 

[Electric Amish]

I have no idea. My wife set it up.

 

[Svnla]

Originally posted by: JLee

Originally posted by: Svnla

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

No, it's not (NH). However, if you're at fault without insurance, you're getting shafted...

I thought you were kidding but you were not. So what if a guy didn't have any insurance <and no asset with a $100 vehicle> and hit me and I only have the basic liability...so I am out of luck? That's not good.

Edit: I read the website again. It is NOT required to have it but you HAVE TO show your financial responsibility in order to register your vehicle. In most cases, that means carrying car insurance.

 

[Train]

Both Geico and esurance (I was a former customer of both) called me and said they would beat ANY rate to get me back. I said I have USAA, they said oh nevermind, and hung up.

USAA > *

 

[Svnla]

Originally posted by: DrPizza
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.

Yup they are morons. Not all of them but some of them are BIG TIME MORONS. See below.


------------
http://www.dallasnews.com/shar....Edition1.463e425.html

"driving without insurance ? as an estimated 20 to 25 percent of your fellow travelers are doing this very moment? is against the law "

"Unfortunately, some City Council members are raising the predictable arguments against impounding, from the offensive (racist cops just want to jam up minority drivers) to the practical (the city auto pound will overflow from all the new business)."

"council member Vonciel Jones Hill did raise a fair point, arguing that the burden of this enforcement would fall inordinately on poor drivers, who might not be able to afford insurance........basic liability insurance ? what the state requires ? can be had for $30 to $35 a month. Try to get that deal from your cable company or cellphone provider. Bottom line: If driving is essential or even important, this is a budget adjustment everyone can make"
--------

Yup, it is much easier and more fun to get the latest mobile phone and pay to the nose for texting or go to the liquor store and get some Colt 45 malt liquors than save some money and get the basic car insurance. I can hear it now..."Think of the poor people". The very same poor people with the latest mobil phone, big 30" rims on $50 car, $500 sneakers are the same voters that keep voting for the same idiots back to the office.

 

[rasczak]

Originally posted by: 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?

Looks good to me. Are you still paying for the car?

 

[LS21]

^car is paid off. i wonder what the drop-off would be when i hit 25? right now it looks like im going 100/300/100 with 1k deductibles for ~1000/6mo

 

[imported_elwood]

91 Ford Ranger super cab
$43/mo
Lowest coverage allowed by the state of LA

Why? Because it's cheap and so am i.


EDIT: I'm 25. When i turned 25 my auto insurance dropped DRAMATICALLY.

 

[rh71]

Originally posted by: LS21
i wonder what the drop-off would be when i hit 25?

When I hit 25, it was something like $125 cheaper (liability only). Paying like $600/6 months, I guess that's pretty good. But after all the talk of "wait till you reach 25"... it was a letdown.

 

[trmiv]

Erie insurance
Two cars, 2007 Ford Escape, 2007 Mazda 3

Bodily Injury Liab: 100,000, 300,000
Property Damage Liab: 100,000
Medical Payments: 1,000
Comp deduct: 250
Collision deduct: 250
Towing and labor: 50
Extended transportation Exp: 30/day 900/loss
Uninsured motorist property: 100,000 100 deduct
Uninsured motorist injury: 100,000 300,000

$1,195 per year. We pay monthly so it bumps it up to $1303 per year.

 

[ravana]

I paid $1700 for the first six months of Insurance on my MINI in 2006 (I was 25, never owned a car before).

Then I got a reckless driving ticket (yay VA, boo me )

Switched to liberty mutual, i pay $1400 a year now on the same car.

 

[rh71]

While I'm here, I'd like to ask what full coverage people do for deductible amount.

Right now for comprehensive, I'm on $500 deductible with full glass. I can do $100 deductible (pay $200 more per 6 mo.) or $200 deductible (pay $135 more per 6 mo.).

For collision, I'm on $500 deductible (doesn't say with full glass). Does this comp/collision setup mean I'm not covered for glass breakage if I hit an object? Comprehensive means natural disasters / vandalism only.

Is the idea to pay a high deductible for collision because others' insurance will pay for your dmg? What about you hitting an object though? Also, this will only pay out if they don't have insurance themselves, then you're paying something on it regardless (use higher deductible - cheaper rate is better)?