Insurance question????

[aldive]

Whatvarious options and add ons can be used to decrease insurance rates?

Thanks.....

 

[kvo]

Get married, have kids, age a few decades, own a house (insured with the same company), own a couple vehicles (insured with the same company), have a GREAT driving record.

Seriously, the only thing you can add to your vehicle that MAY decrease your insurance rate is LOJACK, but not by much. The insurance companies have already account for all the other safety features (i.e. air backs, ABS brakes, etc.) in your insurance rate.

 

[Frisckey1]

Insurance Rates

I lowered my insurance by removing things like car rental reimbursement, medical payments, raised my deductible. If you don't owe anything on it, you can opt for carrying liability only (but I wouldn't) But the savings really wasn't worth it so I went back to having all of that ('cept for the deductible).

My deductible is 250, I have full coverage wiith rental car reimbursement and medical payments through State Farm for a mere 49.00 a month. Of course my home is insured through them as well so I get a small discount for that.

The savings to cut back on insurance isnt' really worth it, in my opinion. I was involved in a car accident last week, and if I hadn't had all this coverage I would be screwed. The chick rear-ended me doing about 35 or 40, my truck is estimated at $1,600 to fix (bumper, liftgate & both rear quarterpanels repainted, frame straightened where the bumper was attached, new wiperblade). Guess what? She was driving her boyfriend's rental car, and opted out of the insurance! If I had only liability, I would have to obtain a lawyer and sue the rental car agency or her on my own. With full coverage...I take it to the shop, my insurance pays them, pays the chiropractor, waives my deductible (cuz she has no insurance), and sets me up a rental car. I don't have to do anything. Way too easy. She on the other hand, has to pay for the car she totaled, my truck, my chiropractor and whatever else comes up. They didn't own a vehicle at all so they have NO insurance at all.

Keep as much insurance as you can afford on that thing! It's worth EVERY penny.

 

[aldive]

Re: Insurance Rates

Originally posted by Frisckey1
I I don't have to do anything. Way too easy. She on the other hand, has to pay for the car she totaled, my truck, my chiropractor and whatever else comes up. They didn't own a vehicle at all so they have NO insurance at all.

Keep as much insurance as you can afford on that thing! It's worth EVERY penny.

One should never be w/o great coverage, no matter the cost.

I bet your premiums will go up due to the claim though.

Good luck....

 

[Frisckey1]

Nope

No increase in rates, because it was not my fault. Law. I asked that too.

 

[aldive]

Re: Nope

Originally posted by Frisckey1
No increase in rates, because it was not my fault. Law. I asked that too.

I had a similar thing happen to me about 15 years ago and my insurance rates did go up after the incident. That was in Florida; each State must have different laws.

You were lucky.

 

[Robert]

I know my neighbor across the street from me when I lived in Ohio was involved in two accidents that weren't his fault either. His insurance company still considered him a high risk driver and raised his rates as a result. To me it doesn't seem fair, but I guess if they have to pay out, they look at as an excuse to get more money from you to compensate them. I hope for your sake that the information you were given was correct. It's pretty screwed up to have to continually be reminded of someone else's negligence everytime you have to make an insurance payment.

 

[aldive]

Indeed insurance companies are not to be considered user friendly.

I had a house fire 5 years ago, caused by faulty work by an AC repair man, and the house and all my “stuff” was totaled.

It took me 1 ½ years along with my attorney to get Prudential ( a big player ) to settle. These people are amoral and are not your or my friend.

Insurance is a necessary evil; not something we cherish.

And as a result of this, I am unable to even purchase Home Owners Insurance from a private insurance company, I have to get it from ther State pool and pay a high surcharge.

Unfail and insurance companies are synomy,s.

 

[Frisckey1]

EEEK!!!

Originally posted by aldive
It took me 1 ½ years along with my attorney to get Prudential ( a big player ) to settle. These people are amoral and are not your or my friend.

Insurance is a necessary evil; not something we cherish.

1 1/2 years? I hope I never have to deal with them! So sorry for your bad experience. I have to say I have been extremely happy with State Farm. I have been with State Farm since I was 15 and on my mother's insurance and never had a lick of trouble (knock on wood)...Of course I have never had a house fire...but right when I moved into my mom's house and bought it, she had a water pipe burst under the basement floor and they came the next day and cut a check the day after that for $2400 for damage and repairs to the floors (more than generous). Of course, we did the work ourselves and got a new bathroom out of it too! I DO cherish insurance ;-)

 

['96explorereddiebauer]

I asked my dad how much the insurance is for my truck. He said $190 a term, which is 6 months. That's the comprehensive package with 250 deductible but no rental reimbursement. But then again, my truck is under his name so my name is under my other car, '90 Accord EX, that costs like $300 a term. The most expensive is our '98 Accord EX-V6, which is $390. All 4 of our cars are opted for comprehensive coverage with $250 deductible. I guess the reason why our insurance is so cheap is because we have multiple cars (4 cars) discount under his policy and our homeowner's policy heavily discounted our automobile policy.

 

['96explorereddiebauer]

Re: EEEK!!!

Originally posted by Frisckey1


I DO cherish insurance ;-)

HAHA...me too!! In 1998, a tornado hit our town, our house suffered close to $150k worth of damage. Our insurance paid for everything. We only have to pay the $500 deductible. They even bought me a brand spanking new computer and reimbursed about $1,500 worth of music cd's, printer, scanner, and software. My Jeep was safely in the basement, that's where our garage is and there were no damage so my Jeep was safe.

 

[aldive]

Michelle, they should indeed cut a check in very short order as was in your case.

However, after my fire, the "adjuste" would argue with me on replacing a 2 x 4 stud that was burned aflmost in two. They actually wasted my valuable time argueing over a $2 piece of lumber.

If now for my attorney and the local TV station consumer advocate, I would still be fighting.

I can only imagine what those ..... would do to a little old lady in a similar situation.

 

[rpenner54]

Australia has a required insurance program setup. Where the Country says you HAVE to carry insurance and here are the companies. By doing this they have lowered costs to the consumer greatly. Colorado has a simular law saying you have to have insurance or you cannot register or even drive and if you get caught there is some kind of ticket. However because of those that do not carry the rates are still to high. If there was some sort of law saying that you had to have insurance and that the insurance companies couldn't charge you up the butt that would be cool.

A way to lower it, just get liabilty and fix it yourself if you crash into someone. Or if someone crashes into you hope that they have it if not sue em.