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Questions About Auto Insurance & Accidents

5324 messages,  Last post on May 09, 2013 at 1:37 PM

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#5139 of 5324 statements to insurance co. by sdunckel1

Dec 08, 2012 (11:54 am)

My daughter is insured under my policy (Allstate) and she recently was in a fender bender driving her grandmother's car. Her grandmother's insurance company is Gieco. Geico is wanting my daughter to give them a recorded statement. I've always heard to never to this. What would her grandmother's interest be in my daughter's recorded statement? Could she just give a written statement? What information is she required to give them that would not already be in the police report?
 
Thanks for your help

#5140 of 5324 Re: statements to insurance co. [sdunckel1] by Mr_Shiftright HOST

Dec 08, 2012 (12:45 pm)

Replying to: sdunckel1 (Dec 08, 2012 11:54 am)
tricky. you NEVER should give out recorded statements to the OTHER party's insurance company, but generally you are obligated to cooperate with your OWN insurance company and give such statements; however, since this is grandma's insurance company, what I would do is ask the claims agent to point out exactly upon what wording in grandma's policy is the agent is making this request. Be SURE that this agent does in fact represent GEICO. Also, if BOTH parties have GEICO insurance, I think I'd consult an attorney before giving the recorded statement.

#5141 of 5324 Re: statements to insurance co. [sdunckel1] by euphonium

Dec 09, 2012 (6:09 pm)

Replying to: sdunckel1 (Dec 08, 2012 11:54 am)
Grandma loaned her car and her insurance coverage when daughter was involved in the fender bender. What was the extent of bodily injury and who have the police deemed to be at fault? As Gieco is Grandma's company, it would be prudent of daughter to cooperate with them as much as possible.
 
Reason for Non renewal: Insured uncooperative following claim.

#5142 of 5324 Picking a collision ins. deductible , vs "Limited collision" by woodyww

Jan 16, 2013 (9:31 am)

My Amica auto insurance is up for renewal. I currently have a $1k collision deductible that's $211. A $2k collision deductible would be $171. OR: "Limited collision" coverage is $28, & I'm tempted to go for that. (And yes, I know the limitations of "Limited collision" coverage--so I'm wary at the same time).
 
The car: a 12 y.o. bmw 528i, really nice condition, super low miles. The Amica agent said they would price the "retail value" at $8300.
 
One reason I'm thinking of the Limited collision coverage is that I've been putting on less than 1000 miles a year. However it is Metro-Boston area, with crazy drivers & all. I've had quite a few minor bashes on my various cars over many years--all the other drivers fault. The one time a car I owned was almost totaled--a guy rear-ended me, & stuck around, so even Limited collision would have paid I believe.
 
So at current prices, over 10 years I'd save $1830 by going with the Limited collision, vs. the $1k deductible--that's not nothing. I know it's a crap shoot, but what would anyone else do? TIA for any thoughts.

#5143 of 5324 Re: Picking a collision ins. deductible , vs "Limited collision" [woodyww] by Mr_Shiftright HOST

Jan 16, 2013 (9:38 am)

Replying to: woodyww (Jan 16, 2013 9:31 am)
Well, first impression is that I don't think Amica would pay you $8300 for that car if it were totaled, so you may be overvaluing your car somewhat.
 
My general rule of thumb about this is to drop collision when the car's value hits about $5000.
 
You are still above that by a bit, so I guess I'd still keep collision if I were you.
 
Since you drive very little, and since you wouldn't need collision insurance of any kind if someone hit you and it was THEIR fault, and since you are obviously a careful driver and not likely to smash up your own car, I think I'd keep the $1K deductible until such time as the car's value drops under $5K, then I'd go with the limited collision.
 
There's too little difference between $1K and $2K deductible to bother with that IMO.

#5144 of 5324 Should I claim diminished value for relatively new car in accident? by ctdriver43

Jan 16, 2013 (11:18 am)

I have a 2011 Honda Civic (1.5 yrs old) which was rear-ended. It was just shy of 12K miles and is still driveable. I had just had scheduled maintenance done weeks before the accident and Hodna told me it was in perfect conditinon. I'm still waiting for the police report, but it was definitely not my fault.
 
My nsurance company estimates $3K damage without opening the trunk, which is sealed shut to keep out rain/snow. I was hit by a CRV which was rammed into me by a speeding hybrid (that car was totalled). Damage could be over $3K if they find something upon opening it, plus it's a unibody, so I don't know if impact damaged that. Even if I get this fixed 'perfectly', I'm sure its value will be lesser due to being in an accident if I try to sell it privately or use it as a trade-in
 
Does anyone have any advice on what I should do? I live in Connecticut, if that makes a difference on the laws.
 
Thanks!

#5145 of 5324 Re: Picking a collision ins. deductible , vs "Limited collision" [woodyww] by marsha7

Jan 16, 2013 (12:02 pm)

Replying to: woodyww (Jan 16, 2013 9:31 am)
If I recall, and my memory may be failing me, limited collision means it pays to fix YOUR car only if the other guy is at fault, meaning you are discounting the premium and gambling on your own "driving skills", so if you are at fault, your own car will not be repaired, but if the other guy causes the wreck, your car can be fixed (if he is uninsured, for example)...
 
The difference between the $28 and the $211 is not really a lot, considering what it would cost to fix your car if you caused the collision...even if money is tight, I would just keep the $1K deductible on full collision and be done with it...

#5146 of 5324 Re: Picking a collision ins. deductible , vs "Limited collision" [woodyww] by euphonium

Jan 16, 2013 (12:09 pm)

Replying to: woodyww (Jan 16, 2013 9:31 am)
Because the crash will not be your fault and due to very little exposure to traffic, consider replacing the $1,000 Collision Deductible with Underinsured Motorist Property Damage which has a $100 Deductible.

#5147 of 5324 Re: Picking a collision ins. deductible , vs "Limited collision" [euphonium] by marsha7

Jan 16, 2013 (5:00 pm)

Replying to: euphonium (Jan 16, 2013 12:09 pm)
Can you buy a UM policy for prop damage without the liability portion?

#5148 of 5324 Re: Picking a collision ins. deductible , vs "Limited collision" [euphonium] by Mr_Shiftright HOST

Jan 16, 2013 (6:26 pm)

Replying to: euphonium (Jan 16, 2013 12:09 pm)
Be careful with that---if the uninsured or underinsured motorist hot-foots it, and you cannot identify the culprit, you're screwed.

Messages Page 515 of 533

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