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Smart Shopper Questions About Auto Insurance & Accidents
3922 messages, Last post on May 17, 2008 at 2:33 PM
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Replying to: oldfarmer50 (Apr 17, 2008 7:07 am)  With the $80 a year reduction in premiums for my wife and myself, under the Umbrella Policy, the total cost will be about $120 a year more. The minimum of liability insurance to get the Umbrella policy was 300,000/500,000 . The Umbrella Policy is a personal liability insurance which would protect up to 1,000,000. I believe that's how it works... will need to read up a bit. edited: I have 2 kids as well mikefm. My agent said I was "a bit" underinsured... but it looks to have been substantial. They also tried to upsell me on additional life insurance.
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Replying to: jipster (Apr 17, 2008 10:10 am) I would expect a "good" insurance agent to review my coverages and make recommendations as I mature, get married, have kids, retire, etc, etc. With 2 kids, you've been under insured for some time now.
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Replying to: mikefm58 (Apr 17, 2008 11:08 am) Oh, they have. I've gotten phone messages and letters requesting a insurance review of my coverage. I pretty much ignored them as I thought it wasn't necessary. After reading some posts here at Edmunds, and having a friend sued for a lot of money over a motor vehicle accident... I've taken it a bit more seriously. |
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things that you can be sold may not be worth it over your life, it is my belief, from working the injured side of auto accidents, and seeing everything that goes wrong when one does not buy enough coverage, I believe that in the field of auto insurance, the more riders you buy the better coverage you really do have... Plus, one often finds that once the base policy premium is determined, say for a 25/50 policy, increasing limits to 100/300 or 250/500 rarely costs much more, as the cost per thousand of the insurance drops dramatically... Also, million dollar umbrella policies are often only about $150 a year more...so, one can protect himself against almost everything... Assuming a fault state, my list is liability, comp and collision, medpay, U/M, rental car insurance, and possibly towing... Rental car insurance is about $25 a year, but may pay out up to $900, towing for $10 may save you a tidy sum if your car is towed a number of miles... Medpay, I have said that before, and U/M with a million dollar U/M umbrella, in case you suffer serious injuries and the other idiot has minimum limits...
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Replying to: marsha7 (Apr 17, 2008 7:06 pm) Speaking of insurance, I'm glad I have earthquake insurance. We had a rare earthquake in Louisville, Kentucky this morning that registered a 5.4 on the reciter scale. I was laying in bed, half asleep, and it seemed the roof just started shaking violently and loudly. I thought it was a downburst... a sudden and strong gust of wind. It was over and done with in about 4-5 seconds. My daughter then asked, "what was that?" My wife relied it was an earthquake. 
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Replying to: oldfarmer50 (Apr 16, 2008 1:03 pm) That another company looked at it differently is why that company is very cheap claim wise. 
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Replying to: jipster (Apr 18, 2008 5:18 am) We had one like that in NY a few years back early one morning about dawn. When the shaking stopped my wife replied that it was to early for that "nonsense". 
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Replying to: euphonium (Apr 18, 2008 9:26 am) Yea, I knew one had nothing to do with the other but I felt a bit of outrage that it worked out like that. As it turned out it motivated me to shop around and save several times $900 over the course of time.  Ahh the joy of competition.
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Replying to: oldfarmer50 (Apr 18, 2008 11:16 am) LOL. Somehow I knew when I posted that, that oldfarmer would come up with some type of early morning sexual innuendo joke. Things certainly were rocking and a rolling... for about 5 seconds. 
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Replying to: jipster (Apr 18, 2008 11:31 am) Just saw your quake story on the news. Seem it did a bit of damage too. BTW, if you took my comments as sexual innuendo, your mind must have been in the gutter too. If the tiles on your roof fall onto your car during an earthquake, which policy pays for the damage to the car?
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