Insurance Claim
10-25-23, 04:12 AM
#32
Super Moderator
Just got the December renewal on my M3, went up 9%. Not bad considering most folks on the G80 forums are reporting 15-20% increases and my household now has a 16M driver that it didn't back in June.
But my umbrella more than doubled, from $559 to $1362/year. And oddly, my personal articles policy decreased by over 20%, despite no related changes. All in all, I'm paying $4,166/year more than last year, but $1,458 of that is the net addition of the M3, since it did not replace anything; and $1,958 of it is picking up insurance on my FILs car when he passed and putting our son on that. So excluding those two things, I'm up more like $750 same-for-same. Probably right about at Steve's $1,000 number if not for the additional multi-car discounts.
But my umbrella more than doubled, from $559 to $1362/year. And oddly, my personal articles policy decreased by over 20%, despite no related changes. All in all, I'm paying $4,166/year more than last year, but $1,458 of that is the net addition of the M3, since it did not replace anything; and $1,958 of it is picking up insurance on my FILs car when he passed and putting our son on that. So excluding those two things, I'm up more like $750 same-for-same. Probably right about at Steve's $1,000 number if not for the additional multi-car discounts.
10-25-23, 05:55 AM
#33
Lexus Fanatic
10-25-23, 06:50 AM
#35
Super Moderator
$500 on all our cars except for the wife's. She's grandfathered into a $100 deductible that isn't offered anymore.
Next time I talk to my agent, I might see how much we'd save by going to $1000.
Next time I talk to my agent, I might see how much we'd save by going to $1000.
10-25-23, 08:59 AM
#36
Lexus Champion
FWIW, I had mine at $1000 for years and going down to $500 is worth the extra cost.
10-25-23, 09:47 AM
#37
Super Moderator
10-25-23, 02:41 PM
#38
Lexus Fanatic
I have never paid a collision deductible in my life (knock on wood), my wife had a collision claim last year but we never got our car fixed so there was no deductible. Saving $400 a year for 25 years is $10,000...I can handle an extra $500 if and when I do have to pay a deductible.
I was tempted to raise it to $2,000 quite honestly...but then I figured I would be tempting fate
Thats the thing about insurance, you insure yourself against what would be a painful loss...most people are over-insured. If I can say "I can easily part with $1,000 at any time" then you're just wasting money on a $500 deductible,
Last edited by SW17LS; 10-25-23 at 02:44 PM.
10-25-23, 03:30 PM
#41
Super Moderator
10-25-23, 03:37 PM
#42
Lexus Champion
I was rear ended while stopped at a traffic light about a year ago. I had to pay the deductible which fortunately was only $250. As it turned out the driver of the other car was uninsured and taken into custody for impaired driving and the deductible wasn't recovered.
10-25-23, 03:41 PM
#43
Super Moderator
Yep unfortunately that's the the way it goes also. We finally got our ($100) deductible back three years after my wife's car was rear-ended. The at-fault driver had one of those crappy insurance companies that fought tooth and nail against recovery. I think they finally paid up after losing a judgement for the 5th or 6th time. I'm convinced to this day that State Farm spent several times the total amount of the loss on outside counsel just to punish them.
Last edited by geko29; 10-25-23 at 03:46 PM.
10-25-23, 05:02 PM
#44
Lexus Champion
Sorry that happened.
10-25-23, 05:26 PM
#45
Lexus Fanatic
You file way more claims than most people though, like I said in 27 years of driving I have never filed a collision claim (knock on wood). I have filed no fault comprehensive claims but the deductible there is much lower.