Vehicle Insurance

[reinbeau]

My auto insurance is around $700 for comprehensive fire, theft and collision, with 100/300,000 liability, plus I carry a $1M overhead umbrella insurance on my home. It's worth it to me to be covered, I own my home - I can't afford to have someone mess with it. I'm going to drop the collision in two years, when the truck is 10 years old. The new car was $900 for the year. Insurance here in MA has actually dropped, amazingly enough, due to some deregulation, but with that came the malarkey of allowing insurance companies to use credit scores, which I think is absolutely ridiculous (and don't anyone try to convince me otherwise, if you do try, I know you're nothing but a shill for the insurance industry!). I'm from an insurance family, my father was a risk management specialist in medical malpractice, my youngest brother is following in his footsteps in fleet transportation insurance. Despite the lifestyles those two could/can afford I'm still convinced insurance is nothing but legalized gambling with all the cards stacked against the insured.

 

[Big Daddy]

Colorado had a bill to stop the insurance companies from using credit scores. I work for an insurance company. They sent us an e-mail telling us to contact our reps to vote against it.

I think it's real stupid. Per their bean counters people with good credit tend to drive better because they are more responsible. Your right it's Bull.

 

[Beekissed]

Word to the wise......I took off my full coverage so I could afford to put a kid on the insurance.....NOT a good idea!!!

As of today, I now have a vehicle that is totaled in a single car accident, no backup car and no rental car to drive, no insurance to fix the car or replace it and now have a big problem on my hands~no way to get to work.

Unless you have a spare and have a good chunk of cash floating around in the bank to replace your main sled, I wouldn't go the liabilty only route.

I know I won't, after this little incident! :/

 

[reinbeau]

I agree, Bee, but collision doesn't get me all that, comprehensive does (up here in MA). After 10 years you don't get squat for collision, but the other stuff is worth paying for.

 

[opiemaster]

Well Beekissed that bites!! I have an '05 ford F-350 and my wife has a 2000 ford excursion, we only had liability as these are paid for. Dec 18th some guy blows a stop light and takes out the right front of my wifes truck. $7500.00 in damages. IF he had insurance they would have totaled it. (key word there was "IF"). My attorney told me to take it to the prosecutors office and attach the estimate to the ticket so the judge will see it and order restitution. If he doesnt pay he goes to jail.
Oh, I went out the next day and put FULL coverage on my 1 ton, it only cost $35.00 a month more!!!!!!!!!!!!!
I increased my deductable to $1000.00 this drops your monthly . The higher the deduct the lower the payment.

 

[2dream]

Problem with full coverage is: You are only going to get blue book value. So if you are driving an older vehicle you are paying out big bucks and will never get enough money to replace your vehicle. It works for newer model vehicles but for older ones I just don't think its worth it. We drive older paid for vehicles. Liability and uninsured motorist is all we have. We try to save the extra dollars we save each month. But we do have a back up car.

I agree with Ann on insurance. Its a crap shoot and you are always going to pay out more than you ever get back.

 

[opiemaster]

I fully agre on older cars there is no use in putting full coverage. I just wish I had it on our newer ones than we wouldnt be here with this wrecked truck sitting in my driveway. I dont want to sell it for scrap as I would like to fix it, dont have the money now to go out and replace it.

 

[Wifezilla]

That is why I only buy older cars for cash. I figure some idiot is just going to smash in to it, so why buy something nice in the first place?

 

[FarmerChick]

Wow Opie that just stinks.

BUT for everyone.....I had an older Sunbird back when I was a kid. A lady ran a stop sign and slammed the back and I spun around a few times.

The insurance wanted to total the car and give me like $2800 for it......well heck I couldn't buy a car for 2800 to replace my perfect older Sunbird. We had a heck of a fight about it but they paid the $4300 or so to fix the whole back panel and bumper and put it back to just like it was before I was hit.

So you can fight. It isn't just "total and blue book value" ---well not every time...lol....you can try like me and win. My Dad was brutal stating he paid for insuarnce to fix vehicles and by gosh they were going to do it..HA HA HA

Now of course that was like 27 years ago...whew...I am sure times have changed on those policies maybe????


27 years ago I was 20......HOLY MOLY!!!!!

 

[opiemaster]

yea farmer chick, time flies when yer havin fun, (aleast thats wha they say). On my accident, I called the town prosecutor today on it as the kid goes to court next month on the 3 tickets he received. He basically told me I had to sue the kid as the town was going to make him pay me.! I asked him "Isnt it a state law that you carry insurance?" he replied, "yes, but this is a city ticket and we are not set up to enforce state laws"!!!!!!! What B.S. if it was me they would throw me UNDERjail and Pump sunshine up my wazooooo!!!!!!!!!!!!!!!!!!!!!