What do you need for car insurance?

[Dexter Rutecki]

I think I may be overpaying, but I don't know. How much should you have in the various categories? The people who generally might know the answer to this usually have a vested interest in having you overpurchase, so I'd like to hear some object maggot advice.

Also, if there are particular companies that really are better than others it would be interesting to hear.

[4matic]

I think I may be overpaying, but I don't know. How much should you have in the various categories? The people who generally might know the answer to this usually have a vested interest in having you overpurchase, so I'd like to hear some object maggot advice.

Also, if there are particular companies that really are better than others it would be interesting to hear.

Depends on your assets. If you don't have a house or business with equity, savings, or a retirement account you only need the minimum.

Insurance is a commodity.

[Brahmontoya]

First of all Dexter tuck your shirt in. Second, start taking your job more seriously. This is Aspen, where people pay for a certain look - a certain lifestyle.

[hutash]

Depends on your assets. If you don't have a house or business with equity, savings, or a retirement account you only need the minimum.

Insurance is a commodity.

This...you only need the legal minimum, after that it all depends on...?

[Dexter Rutecki]

First of all Dexter tuck your shirt in. Second, start taking your job more seriously. This is Aspen, where people pay for a certain look - a certain lifestyle.

Nicely done. That's why I got the job teaching the kids.

Funny thing is, in Whistler my brother actually had that very job--had to wear a funny costume, too.

I'll talk to you, Karl, after I finish my coke-fueled naked midnight run during the blizzard.

edit: back on topic, I do have some assets that would need protecting, I assume, so I clearly need more than the minimum in some of these categories. But all of them?

[Tye 1on]

I bumped my liability up a notch, left the rest at minimum. Also dropped my coverage for medical costs of passengers. Most all of my friends have health insurance...Have always had tow coverage tho...

[PNWbrit]

Also dropped my coverage for medical costs of passengers. Most all of my friends have health insurance...

Your friend's health insurers will come after your assets irregardless of whether you've injured them in your vehicle or just run them down in a crosswalk.

[MTT]

Nicely done. That's why I got the job teaching the kids.

Funny thing is, in Whistler my brother actually had that very job--had to wear a funny costume, too.

I'll talk to you, Karl, after I finish my coke-fueled naked midnight run during the blizzard.

edit: back on topic, I do have some assets that would need protecting, I assume, so I clearly need more than the minimum in some of these categories. But all of them?

If you have assets, I recomend minumal insurance and a (Hitman) on retainer

[schuss]

Depends on the State. Texas, California and New York - get more than you think you need due to litigation costs and frequency.

[warthog]

We already have a Karl Stall. He is actually from Aspen, and he is a true maggot.
JONG.

[Tye 1on]

Your friend's health insurers will come after your assets irregardless of whether you've injured them in your vehicle or just run them down in a crosswalk.

Did not know that, but think you are probably spot on. Buddy of mine who owns a raft company is being sued by an accident victim's insurance company. She had no interest in suing, but the *&%#@ insurance company is going for the jugular. Bastards.

[1080Rider]

In a previous life, i was involved in a case where a lady was hit (while in her car) in an intersection she designed (civil engineer). It was a relatively low speed collision. She had a head injury and it made her a little crazy. The case settled for $500K during trial. I upped my ins levels shortly after that... Just know that if damages are higher than your ins coverage, you may be on the hook for the excess.

[4matic]

I have an umbrella policy on top of maximum auto coverage since I began owning rental property. It's not that much for peace of mind. Although, I don't have as much as my insurance expert brother recommends.

[GoldMember]

I have an umbrella policy on top of maximum auto coverage since I began owning rental property. It's not that much for peace of mind. Although, I don't have as much as my insurance expert brother recommends.

^^ This. I, too, have an umbrella policy on top of my homeowners and auto insurance. It's cheaper per $1,000 of coverage and kicks in if you exceed your policy limits in an accident. I think I pay something like $225 per year for $2MM in coverage.

[Brahmontoya]

We already have a Karl Stall. He is actually from Aspen, and he is a true maggot.
JONG.

Yeah I realized that about an hour ago while googling quotes from the movie. If the honorable Karl Stall objects, I will happily abandon this SN and adopt a new one.

Sincerely,
KarlStall, JONG Esq.

[PNWbrit]

Did not know that, but think you are probably spot on. Buddy of mine who owns a raft company is being sued by an accident victim's insurance company. She had no interest in suing, but the *&%#@ insurance company is going for the jugular. Bastards.

You waive any control over litigation that an insurance company might wish to bring to recover it's payout for your covered loss. They can and often do actually sue their clients for failing to cooperate in the recovery suits that they bring on their behalf.

It's in your policy small print. Your auto, your friends health cover..all the same.

[BigDaddy]

Highly recommend getting at least 1M in extra liability coverage or as others suggest, an umbrella policy.

In the event of an accident, your wages could be garnished and you would become an indentured servant to the man.

[AdironRider]

Ultimately, you need to think about how coverage is protecting you only when you are at fault. If you tend to spend more time in the left lane in a populated area, I'd go more. Putting around in a Super Duty at the speed limit in the middle of nowhere Wyoming, the bare minimum.

[char]

Kind of related to this thread:

Progressive is charging me about $200 less per 6 months than what a full year of moderate auto insurance plus a middle of the road renters policy would cost me through SafeCo. (Safeco is coming out as the cheapest, and seem to have ok ratings + the usual internet bitching comments.)

My wife and I have both been long time Progressive customers, and they have treated us well over the years, but seem to have been steadily increasing rates every 6 months despite giving us loyalty and good driving discounts, etc.

Is there any issue with bouncing from insurance policy to insurance policy every 6 months or is it better to stick with one company for at least a year?

[4matic]

Kind of related to this thread:

Progressive is charging me about $200 less per 6 months than what a full year of moderate auto insurance plus a middle of the road renters policy would cost me through SafeCo. (Safeco is coming out as the cheapest, and seem to have ok ratings + the usual internet bitching comments.)

My wife and I have both been long time Progressive customers, and they have treated us well over the years, but seem to have been steadily increasing rates every 6 months despite giving us loyalty and good driving discounts, etc.

Is there any issue with bouncing from insurance policy to insurance policy every 6 months or is it better to stick with one company for at least a year?

They will have no loyalty to you if it serves their interest. In California safe driver discounts are transferable by law. My brother is an insurance broker and he buys the cheapest. It's a commodity. I got the best price from Costco and have used Safeco. Insurance companies will take advantage of assumed loyalty and slowly raise rates. Especially homeowners in my experience.

Note: I have umbrella policy to protect personal assets.

[RootSkier]

Depends on the State. Texas, California and New York - get more than you think you need due to litigation costs and frequency.

Litigation costs should have nothing to do with it. In most states at least, an insurer's duty to defend is separate from their duty to indemnify. Therefore, even if your policy limits are (for example) $25K, and they spend $100K defending you before they settle for $25K, you don't owe anything.

/not legal advice, derp

[schuss]

Litigation costs should have nothing to do with it. In most states at least, an insurer's duty to defend is separate from their duty to indemnify. Therefore, even if your policy limits are (for example) $25K, and they spend $100K defending you before they settle for $25K, you don't owe anything.

/not legal advice, derp

While true, it leads to inflated loss costs, which you ARE liable for.

Safeco is a Liberty Mutual company, generally good people (I am biased).

[char]

I've had safeco before, it's just the huge discrepancy in price that got my attention.

[El Chupacabra]

Is there any issue with bouncing from insurance policy to insurance policy every 6 months or is it better to stick with one company for at least a year?

1) You may receive a long-time-customer discount if you stay with a carrier for ____ years.
2) Only real negative I can think of is if you have a claim that straddles two or more different policy years, with different carriers, and each carrier disputes coverage. I can't think of how this would work with an automobile policy (occurrence policy, so they cover as of the date of the accident), but it could be an issue with a homeowner's policy (e.g., damage occurring over time).

This reminds me that I need to get a quote from USAA. Mrs. C. apparently qualifies (ex-Navy), due to changes they made in eligibility, and USAA has a great reputation all around. We're with Ameriprise now, through Costco.

[char]

1) You may receive a long-time-customer discount if you stay with a carrier for ____ years.

This is the other thing I don't get. I'm getting the following discounts from Progressive:

Loyal Customer (5+ years for both drivers), 3 yr safe driving, 5 yr accident free, multi car, continuous insurance, diamond (whatever that is) and we pay in full for each 6 month period. The only thing we are not doing is plugging their stupid little big brother box into our cars.

At a minimum they are $250/6 months higher than the nearest competitor. I must live in a zipcode where they are paying out alot of claims or something.