What are people paying for Insurance?
05-14-17, 07:15 PM
#31
Lexus Champion
OP - You have no comprehensive or collision insurance on your vehicle. Your liability coverage is pathetic and your uninsured motorist coverage is beyond deplorable. Your insurance coverage is tragic...and you are a driving time-bomb just asking for huge trouble, which is obviously beyond your ability to understand.
05-14-17, 09:05 PM
#32
OP - You have no comprehensive or collision insurance on your vehicle. Your liability coverage is pathetic and your uninsured motorist coverage is beyond deplorable. Your insurance coverage is tragic...and you are a driving time-bomb just asking for huge trouble, which is obviously beyond your ability to understand the seriousness of the matter.
"You have no comprehensive or collision insurance on your vehicle."
Yes I know that and I'm 100% fine with that. I'll pay out of pocket. Also Geico also gave me accident forgiveness for being a good driver.
"Your liability coverage is pathetic"
It's the Virginia state minimum, works for me.
"uninsured motorist coverage is beyond deplorable"
Again I know and I don't care about what happens to my car.
I'm an excellent driver and have a perfect driving record for 11 years. I'm not paranoid like most people about insurance.
I also own my car outright, paid cash for it.
Chill Dude.
Last edited by peasodos; 05-14-17 at 09:11 PM.
05-14-17, 10:37 PM
#33
Driver School Candidate
Join Date: Apr 2017
Location: CA
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liability is fixing someone else's car and medical, which 25/50/25 is not much at all... and he will get sued when it passes that limit.
Comprehensive and collision is covering your own car, which he doesn't have. So he will be paying out of pocket to fix or take a complete loss if it's totaled.
Comprehensive and collision is covering your own car, which he doesn't have. So he will be paying out of pocket to fix or take a complete loss if it's totaled.
Full coverage everything maxed out you can bodily injury, uninsured motorist, property damage etc. Only thing I lowered was rental and aftermarket parts. I had mine go up a while back with Progressive. I looked around and actually ended up on Geico, it was cheaper than any other thing I really looked up. Which suprised me considering the amount of cost they spent on advertising, I figure it would have an affect in the rates.
Uninsured Motorist Bodily Injury
$300,001 per person/$500,001 per occurrence
Bodily Injury Liability
$300,001 per person/$500,001 per occurrence
Uninsured Motorist Bodily Injury
$300,001 per person/$500,001 per occurrence
Bodily Injury Liability
$300,001 per person/$500,001 per occurrence
If you have no other assets, you're probably fine, as you have nothing to lose.
Personally, I have full coverage, PLUS an umbrella liability policy.
Last edited by RC350Drvr; 05-14-17 at 10:42 PM.
05-15-17, 06:18 AM
#34
Lexus Champion
From what I understand, if you carry "full coverage", you a judge will generally not award more money in a lawsuit than your policy limits unless there are other circumstances such as alcohol or intent to do damage being involved.
If you have no other assets, you're probably fine, as you have nothing to lose.
Personally, I have full coverage, PLUS an umbrella liability policy.
If you have no other assets, you're probably fine, as you have nothing to lose.
Personally, I have full coverage, PLUS an umbrella liability policy.
Problem starts when the at fault does have asssets and carry limited insurance that maxed out. First thing will be looked at is your bank account, properties owned, retirements, investments... at the end of the day, the at fault caused these damages to the other driver or insurance company (with limited underinsured coverage), therefore the at fault will be sued for the total amount of money lost
05-15-17, 06:47 AM
#36
42, clean record and I pay about $850 every six months through State Farm. 100k/300K coverage with $500 deductible.
OP's coverage isn't enough to cover anything besides a minor fender bender. One accident and he is screwed. Rolling the dice!
OP's coverage isn't enough to cover anything besides a minor fender bender. One accident and he is screwed. Rolling the dice!
05-15-17, 09:38 AM
#37
Driver School Candidate
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IF YOU HAVE NO OTHER ASSETS is the key. Then the insurance company and lawyers have no interest in pursuing damage or payout beyond your coverage. A judge will not even see the case. Heck, even if you flat out have zero insurance and cause 1 million in damages, no one can really do anything IF your bank account is empty, no physical assets and living on an hourly wage. But that won't stop them put a restitution on your wages for the rest of your life.
Problem starts when the at fault does have asssets and carry limited insurance that maxed out. First thing will be looked at is your bank account, properties owned, retirements, investments... at the end of the day, the at fault caused these damages to the other driver or insurance company (with limited underinsured coverage), therefore the at fault will be sued for the total amount of money lost
Problem starts when the at fault does have asssets and carry limited insurance that maxed out. First thing will be looked at is your bank account, properties owned, retirements, investments... at the end of the day, the at fault caused these damages to the other driver or insurance company (with limited underinsured coverage), therefore the at fault will be sued for the total amount of money lost
05-15-17, 09:44 AM
#38
Lexus Fanatic
That sounds pretty high for your age, clean driving record, and $500 deductible. Was that the best deal you could find or is Illinois high when it comes to auto insurance?
05-15-17, 09:47 AM
#39
I live in Chicago the land of crime and shootings so this is on the "low" end. I checked All State and they want even more money.
05-15-17, 10:07 AM
#40
Lexus Fanatic
05-15-17, 01:27 PM
#41
Lexus Champion
Years ago, my mother was in a minor accident with an uninsured driver. Other driver was at fault. Her insurance took care of everything for her and said they would go after the other guy. Actually made it much easier to deal with the whole thing than dealing with a second insurance co.
And yes insurance companies want their money back by suing
05-15-17, 03:19 PM
#43
I've got a wife and two young children to provide for and protect, so I have significant coverage as well as an umbrella policy. While I might believe I'm a safe and low risk driver (clean record, tons of defensive driving classes through my employer), it's not the risk of an accident rather the potential consequence, regardless of who is at fault, that I choose to spend money protecting me and my family from.
It is the OP's choice to carry just the minimum, that's why it's the minimum. I hope his choice reflects his skills and not just his record.
To the OP's question, I pay about $1500/yr for my 2013 GS350, my wife's 2013 Sienna, and my beater 1998 4Runner.
It is the OP's choice to carry just the minimum, that's why it's the minimum. I hope his choice reflects his skills and not just his record.
To the OP's question, I pay about $1500/yr for my 2013 GS350, my wife's 2013 Sienna, and my beater 1998 4Runner.
05-15-17, 03:48 PM
#44
$150 a month with comprehensive and collision with 500 deductible. 50/100/50 and 50/100 uninsured with additional PIP and basic loss. i already had to use the comprehensive claim for hitting a deer so you can guarantee i'm keeping that coverage for life.
05-18-17, 11:19 AM
#45
I think the only thing cheaper in Canada is car insurance....some high rates posted in this tread.
$695 per year full coverage, $2,000,000 liability, $2,000,000 personal injury, $300 deductible (both) Full new car replacement for 5 years, free windshield replacement.
Maybe the insurance companies know we have no money left after income taxes!
$695 per year full coverage, $2,000,000 liability, $2,000,000 personal injury, $300 deductible (both) Full new car replacement for 5 years, free windshield replacement.
Maybe the insurance companies know we have no money left after income taxes!