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NuclearEagleFox!!! posted:Yep, monthly. As a small co-op business, it's not really a drop in the bucket because covering 100% would be a significant increase in our operating costs and would therefore directly cut into our wages and profit distributions (although it would be pre-tax). These numbers are with the business covering half of the worker's premium (not including dependents), which is kind of why they're so wonky. Dental and vision are 100% useless unless your employer is funding them because all they are at the end of the day is paying ahead for routine cleaning/exams and a pair of lenses a year/frames every 2. I would never carry either unless my employer was paying for well over 50%. Not sure how any of this makes sense for a co-op. Medical makes sense and is all that really matter IMO.
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Oct 18, 2022 22:18
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NuclearEagleFox!!! posted:Yep, monthly. As a small co-op business, it's not really a drop in the bucket because covering 100% would be a significant increase in our operating costs and would therefore directly cut into our wages and profit distributions (although it would be pre-tax). These numbers are with the business covering half of the worker's premium (not including dependents), which is kind of why they're so wonky. If it's a co-op then put it to a vote. Remind people that if you cover it at 100% it will reduce payouts by that amount BUTT save money on taxes. That likely includes employer side payroll taxes and such making those dollars go much further. If you offer insurance are people going to wind up forced to take it because their spouse's company requires them to use other insurance first? That could put a big damper on enrollment sentiment. How many employees are you talking about where $22 to cover 100% is that big of a hit? I would wait until you have the medical because that's going to be like $5-10k/yr single, and if you're already worried about $264 extra I have bad news about medical.
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Oct 18, 2022 22:43
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H110Hawk posted:If it's a co-op then put it to a vote. Remind people that if you cover it at 100% it will reduce payouts by that amount BUTT save money on taxes. That likely includes employer side payroll taxes and such making those dollars go much further. Good point about spousal requirements. I'll bring that up during our discussion. The numbers I posted are out-of-pocket premium costs if the business were paying 50% of individual premiums (not including dependents) it is not the total premium cost. If the business were paying 100% of D&V premiums for 4 members (including some family plans) it would cost over $450/month (including admin fees). This would be our biggest monthly expenditure by a wide margin. Obviously 100% coverage is the best option, but I suspect some will balk at the cost so I'm also coming up with alternatives. But let's get back to my original question. I'm taking point on the research for this proposal and I'm trying to gauge whether it's reasonable to ask members to pay $96/month (out of pocket, or post-tax, or after business coverage, or whatever you want to call it) for a family dental plan. Due to the requirement for receiving coverage (50% of individual premiums not including dependents), $96/month is the maximum they would ever pay. So the range for out-of-pocket expenses is $0-$96/month. Where in that scale do we need to land to remain competitive with other options?
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Oct 19, 2022 01:41
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H110Hawk posted:Those are monthly? Just cover them 100%. The dental/vision discount coupon cards (I loathe to call them insurance with their comically low coverages and limits) are a drop in the bucket. You know this comment here about dental/vision being discount coupon cards is pretty drat accurate, never really thought about it that way. I like showing data, so here's what I pay, and what my company contributes to dental and vision. I work for a Fortune 100 company that has a pretty good benefit package. The company contribution is on the left and my contribution is on the right. You can see they barely contribute to Dental, and don't contribute anything to Vision. I still see a lot of value out of the plans though and will continue to participate in them, especially with premiums being pre-tax.  Here's a part of the vision benefit statement from my daughters glasses we got last month. 920 dollars total amount billed. "insurance" paid 175.66 and I paid 115.00 You read that right, 920 dollars for an eye exam, and a pair of glasses. I splurged on getting top of the line Crizal lenses so my portion of the bill is way higher than usual. Thos 224 dollar Ray-Ban frames, insurance only paid 92 bucks for them. I doubt you can walk in off the street and pay 92. Like most medical services/products, the big discounts are negotiated behind the scenes and aren't available to the general public even if they are paying cash.  Now all 4 of us in my family wear glasses, so 335 pre tax bucks a year makes a lot of sense for us, and we probably see over 1000 dollars a year of "value" out of having the vision insurance. So it works out really well in my situation. They cover my contact lenses which are 200 a year so that almost covers it right there. Throw in 4 exams at a 20 dollar copay and 3 sets of frames and I come out ahead.
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Oct 20, 2022 19:17
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If you want to know what this stuff actually costs call up from a number not in their system and say you don't have insurance but would like to know the cash pay cost for an exam. It's the same bullshit for health insurance. The difference being that if you for some reason need to see an optometrist or dentist for a second time in the year get ready for some bills.
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Oct 20, 2022 19:53
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I no longer need my car. I don’t want to sell it, but I don’t have anywhere to put it. I’d like to store it at my brother’s house in PA. I live in FL. Regarding insurance, can I send it up to him in PA, keep it registered in my name and state, drop my insurance on it and allow him to insure it for him to drive it occasionally?
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Oct 29, 2022 22:40
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Cacafuego posted:I no longer need my car. I don’t want to sell it, but I don’t have anywhere to put it. I’d like to store it at my brother’s house in PA. I live in FL. Probably not but you can ask your carrier directly. Easier way to do this is transfer the title.
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Oct 31, 2022 23:06
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Is “Trusted Choice” the best way to find independent agents?
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Dec 21, 2022 17:29
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Word of mouth imo
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Dec 23, 2022 05:59
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Hello thread. Thank you all for helping me figure out the right amount of coverage to get for my car back in May. Unfortunately, my poor old '98 Isuzu Amigo may be dead, and I've purchased a new '23 Toyota Corolla. I wanted to check back in here for some perspective on what kind of coverage I should be getting for that. On my Isuzu, I was insured through AAA, and my coverage was 50/100k Bodily Injury Liability, 50/100k Uninsured/Underinsured Motorist Bodily Injury Coverage, and 100k Property Damage Liability (plus 15k Accidental Death Benefit) for a sub-total of $512 per year. The vehicle was not worth very much, so I skipped out on non-collision/liability coverage. I got a new policy on my Toyota, with the same liability limits, but also with Collision and Comprehensive coverage, for about $1,200/year (assuming 12k miles annually). I purchased the vehicle with a sticker price of $22.9k, for a total loan of $27.7k (including Gap insurance and an extended maintenance plan). My credit union's Loan Statement lists the vehicle's value as $22.6k. Questions: How much does Collision / Comprehensive insurance cover? Is there a X/Y limit on it, like liability insurance, or is it more of a 'whatever the cost of damages is, up to the value of the vehicle' sort of thing? How might Gap insurance work through my credit union? How would they determine the value of the vehicle, versus what I owe on the entire loan? How do taxes, the extended maintenance plan, and my Gap insurance cost factor into that? AAA offers 'OEM Parts coverage' for an additional fee, where any damaged parts would be replaced with OEM parts. How important is this, if at all? I would trust a good mechanic to use quality non-OEM parts, but is there any major benefit or downside to doing so? Would it effect the re-sale value of the vehicle at all, or any other benefits? Might a mechanic just get OEM parts anyways, even if I don't have OEM coverage? AAA offers $250, $500, and $1,000 deductibles for both collision and comprehensive. How should one consider what deductible to go with? I primarily want insurance to cover me for major damages, I don't see much problem in having a $1,000 deductible, and feel I could afford to pay that out of pocket should the need arise. If I use my vehicle for business trips and to travel to work locations, how should I handle that? I will be putting a lot of miles onto this vehicle, and traveling around the state. Thank you.
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Dec 23, 2022 20:39
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Awhile back, I moved to California. I hired a moving company from California, who drove out-of-state, packed my poo poo up, and moved it. In addition, I purchased third-party moving insurance (through an insurance provider recommended by the mover -- no insurance I already owned covered moving). In short, a handful of my items were damaged by the movers, so I filed a claim for the damage. Can someone give me some advice on what to do? 1) It seems to take a month in between me sending them information and them getting back to me. Is this delay normal? Here's a timeline; the gaps in my responses are generally because I'm trying to wrangle quotes and the like from local companies. t=0) I submit the initial claim 4 weeks) their inspector shows up 8 weeks) they send an offer 11 weeks) I send a counter 15 weeks) they send an offer 16 weeks) I send a counter (currently at 20 weeks and waiting for their response) This seems long to me, but I'm not sure if this is to be expected? I'm not in a rush, but do I have any reason to be worried about this timeline (e.g., statute of limitations or something?) 2) Some of my items were rather expensive designer furniture pieces (like Herman Miller furniture). Herman Miller offers replacement pieces for the damaged areas. Is it reasonable to assert that the value of these furniture items lies in their originality and design significance, and "equivalent" repair would involve using the (readily available) authentic replacement pieces from the manufacturer (my rebuttal was their labor quote + my part cost from the manufacturer)? Is this a reasonable request in my position? 3) For one of my items, their inspector said the damage wasn't move-related. The damage was move-related, and I sent them a picture of the movers mishandling the item as proof. They then offered me some worthless "appearance" credit. When I was submitting a larger rebuttal, I noted the repair cost of the item (see above). However, when they sent me an offer back, they backtracked and said that the damage wasn't move-related, even though they just offered me an appearance credit for it a few weeks prior. Would the offering of an appearance credit indicate they already accepted my assertion that the movers caused the damage, or do I keep having to argue this? 4) I only contacted the moving company once, informing them of the damage. They basically they basically went "lol sucks to be you, call your insurance company". Is there anything I should be doing with regards the moving company? California seems to indicate that I can (should?) file a complaint within 9 months, but I'm working with insurance so I don't know if I should also submit something to the mover? 5) Lastly, if the insurance company and I can't reach an agreement, is my only remedy to file a small claim suit? Thanks for any goon advice if anyone knows anything, or could at least direct me somewhere to find more information? I've never had to deal with a situation like this before.
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Dec 27, 2022 06:43
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literally this big posted:Hello thread. Thank you all for helping me figure out the right amount of coverage to get for my car back in May. Unfortunately, my poor old '98 Isuzu Amigo may be dead, and I've purchased a new '23 Toyota Corolla. I wanted to check back in here for some perspective on what kind of coverage I should be getting for that. Short answer is always to ask your agent but IMO you're a little underinsured for BI and UM/UIM. If the vehicle is a total loss there's valuation software the insurer will use to compute the ACV. From your perspective it really doesn't matter in this scenario since the gap insurance will cut a check for the difference between the ACV insurance payout and your loan balance. What enters into the valuation e.g. taxes varies by state OEM parts depends on who you ask. If the vehicle is new enough you might end up with OEM anyway but generally you're only owed used aftermarket parts and not new ones. The mechanic might "recommend" you get OEM parts but the insurer won't pay for them so you'll be on the hook for the difference. Your loan may require a max deductible for comp/collision so read the papers for that but it's usually in the 1-2k range so any of those is probably fine. Business usage is generally not covered under your personal auto policy so again, ask your agent and potentially your employer as they should have a business auto policy that covers you for liability at least if they require you to drive for your job.
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Dec 29, 2022 00:20
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PRADA SLUT posted:Awhile back, I moved to California. I hired a moving company from California, who drove out-of-state, packed my poo poo up, and moved it. In addition, I purchased third-party moving insurance (through an insurance provider recommended by the mover -- no insurance I already owned covered moving). You can file a DOI complaint against the insurer assuming they're a real admitted insurance company or file a suit in small claims court against the movers (assuming you didn't sign any very strongly worded waiver of liability or similar). The timeline sounds long, especially for first contact, but I don't have any experience with specifically moving insurance with whatever company you're using.
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Dec 29, 2022 00:24
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Virtue posted:You can file a DOI complaint against the insurer assuming they're a real admitted insurance company or file a suit in small claims court against the movers (assuming you didn't sign any very strongly worded waiver of liability or similar). The timeline sounds long, especially for first contact, but I don't have any experience with specifically moving insurance with whatever company you're using. If I had to go to small claims, would I be filing against the mover or the insurance company? Should I be contacting the mover in any capacity, or just dealing with insurance at this point? I haven't said anything to the mover besides an initial note that they damaged some items (and then told me to contact my third-party insurance, or contact them for their poundage payment claim or whatever) PRADA SLUT fucked around with this message at 03:26 on Dec 29, 2022 |
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Dec 29, 2022 03:23
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You'd have to file against the mover since they're the ones that actually damaged the goods but the situation will be complicated because you're already recovering monies from the insurer.
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Dec 29, 2022 09:01
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Virtue posted:You'd have to file against the mover since they're the ones that actually damaged the goods but the situation will be complicated because you're already recovering monies from the insurer. I don't feel like the insurer is offering an equitable amount, would I not file against them? I understand the mover caused the damage, but the mover agreement states they would pay "$X per pound" of damaged goods, which is such a pitiful amount it's not worth considering (and assuming I did accept such an amount from the mover, couldn't the insurer then go "well you collected a payout for this already, we owe nothing"?) The crux of the issue with the insurer is that I don't agree that their (present) offer represents the pre-damage value of the items, and they seem to be offering wildly different offers each time, adjusting the prices of items up and down depending on the "total" claim. Like if I make a counterpoint to item A and they accept the increase, their "updated" offer lowers the previous price of item B. We haven't finished our back-and-forth (and could still reach an agreement), but it takes them a few weeks to respond to my correspondence each time, and I don't know if there's some timeframe which would be reasonable to settle this by (or if there's some statute of limitations or similar I might unknowingly run into if they take another five months). What would be a reasonable timeframe to try and work out an agreement before getting the courts involved, if it came to that?
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Dec 29, 2022 19:15
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PRADA SLUT posted:I don't feel like the insurer is offering an equitable amount, would I not file against them? Any sort of statute of limitations on this is going to be determined by the state; you can try contacting your state'sv insurance commissioner, see what they say.
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Dec 29, 2022 19:24
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PRADA SLUT posted:I don't feel like the insurer is offering an equitable amount, would I not file against them? You can't sue the insurer for damaging your goods because they didn't damage them so if you did bring suit against them it would be for breach of contract or "bad faith" which is extremely fact specific and complicated to the point where you won't be able to successfully navigate that type of lawsuit without an attorney who specializes in that field. The easier (and cheaper) way to go about it is to file a complaint with your local department of insurance. If that doesn't provide sufficient remedy then you can go fishing for a bad-faith attorney but the dollars involved are pretty small so you might find difficulty finding interest. Virtue fucked around with this message at 20:41 on Dec 29, 2022 |
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Dec 29, 2022 20:37
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One more question on my moving insurance. The mover is denying a specific item, claiming the damage wasn't from the move. I've rebutted this and provided evidence supporting the claim (e.g., photos of the item being mishandled, statement from the mover of no damage before moving), but the insurance still refuses to cover this item. What do I do here if they continue to refuse to cover this item? File small claims and have a judge determine? Or am I thinking of this wrong and I have no ground to do anything other than negotiate?
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Jan 9, 2023 04:12
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PRADA SLUT posted:One more question on my moving insurance. The mover is denying a specific item, claiming the damage wasn't from the move. I've rebutted this and provided evidence supporting the claim (e.g., photos of the item being mishandled, statement from the mover of no damage before moving), but the insurance still refuses to cover this item. What state? I'd go to the DOI before small claims.
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Jan 9, 2023 04:54
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Bondematt posted:What state? I'd go to the DOI before small claims. California. If I go to the DOI, is it like a "let's try to negotiate this, if not, I'll go to the DOI"?
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Jan 9, 2023 07:05
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In my experience the CA DOI is not to be trifled with. You should go to them since you're already getting the runaround.
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Jan 9, 2023 13:06
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Hello. Is there a thread for health insurance questions specifically, or is this one it?
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Jan 9, 2023 17:50
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This is it I think
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Jan 9, 2023 17:53
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LongDarkNight posted:In my experience the CA DOI is not to be trifled with. You should go to them since you're already getting the runaround. Yeah this. California DOI literally has more enforcement power than small claims does and won’t cost court fees. Whoever in claims handles triage will get the message. Most claims triage is based on “how likely is this to cost me money to fight/service” so whatever costs them more than you is best practice.
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Jan 22, 2023 20:03
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literally this big posted:Hello thread. Thank you all for helping me figure out the right amount of coverage to get for my car back in May. Unfortunately, my poor old '98 Isuzu Amigo may be dead, and I've purchased a new '23 Toyota Corolla. I wanted to check back in here for some perspective on what kind of coverage I should be getting for that. Sorry if this a bit late, but just in case you or anyone else still want some clarification, here we go. quote:How much does Collision / Comprehensive insurance cover? Is there a X/Y limit on it, like liability insurance, or is it more of a 'whatever the cost of damages is, up to the value of the vehicle' sort of thing? There is no set upper limit to collision or comprehensive coverage. Your policy will pay out up to whatever the vehicle is worth. The premium you pay for these coverages takes vehicle value into account, so typically assuming no accidents or changes in coverage, the premium would go down the older the vehicle gets. quote:How might Gap insurance work through my credit union? How would they determine the value of the vehicle, versus what I owe on the entire loan? How do taxes, the extended maintenance plan, and my Gap insurance cost factor into that? Insurance companies typically use valuation companies to calculate vehicle value for total losses. The two most used ones are CCC Information Services and Audatex. Taxes on the vehicle value are owed, but how they're handled varies from state to state. Any service contacts like extended warranties should also be refunded on a pro-rata basis to your lender. Your gap insurance company would more than likely handle that part. quote:AAA offers 'OEM Parts coverage' for an additional fee, where any damaged parts would be replaced with OEM parts. How important is this, if at all? I would trust a good mechanic to use quality non-OEM parts, but is there any major benefit or downside to doing so? Would it effect the re-sale value of the vehicle at all, or any other benefits? Might a mechanic just get OEM parts anyways, even if I don't have OEM coverage? Your state may have regulations regarding parts usage, so check there first. For example, Indiana mandates that an insured can require OEM parts for any vehicle that is less than six years old (based on model year). Honestly, I don't think it's worth the extra cost. The insurance company still has to pay for repairs to bring the vehicle back to its pre-accident condition, and a lot of OEM parts come from the same manufacturers as aftermarket parts. quote:AAA offers $250, $500, and $1,000 deductibles for both collision and comprehensive. How should one consider what deductible to go with? I primarily want insurance to cover me for major damages, I don't see much problem in having a $1,000 deductible, and feel I could afford to pay that out of pocket should the need arise. If you're a good driver and could pay the $1,000 deductible without much problem, I'd say that's what you should go with. quote:If I use my vehicle for business trips and to travel to work locations, how should I handle that? I will be putting a lot of miles onto this vehicle, and traveling around the state. As long as the vehicle use isn't directly related to your job duties, you're fine. Business use exclusions mostly apply to people doing delivery and ride-sharing. I've never denied a claim for someone driving to meet a business client or going to a job site.
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Jan 23, 2023 17:26
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Not sure if this is the best place, but I couldn't think of anywhere better. My mom lives in Canada, but frequently is visiting my sister in the US. She worked in the US for at least 10 years and is 65+, which I understand qualifies her for Medicare. I have no idea how Medicare works, but I'm thinking it is a good idea for her to get access in case something happens while there. Since I have no clue how Medicare works, I also don't know if it's definitely a better deal than say, travel insurance, the alternative, or how they might interact. Any advice?
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Jan 23, 2023 19:34
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Virtue posted:Short answer is always to ask your agent but IMO you're a little underinsured for BI and UM/UIM. Thanks for the feedback. I upped my coverage to 100k/300k, as well 300k Property Damage. I can afford it now, it didn't cost that much extra, and the peace of mind is important. Is 300k PD excessive? It felt like a single Lexus could take me over 100k in an accident. My employer didn't have any sort of policy, and none of my coworkers I talked to had anything other than personal coverage. Infidel Castro posted:Sorry if this a bit late, but just in case you or anyone else still want some clarification, here we go. Thanks for the info. Do OEM parts help with resale value? And if my insurance only offers to cover non-OEM parts, could I offer to pay the difference to get OEM parts? What if I'll be doing a lot of driving all around the state? None of my driving is directly related to work, but if I get into an accident 150 miles from home while on work, will my insurance agent question what I was doing so far from home? And if I end up driving more in a year than my estimated mileage, will I have to pay the difference for the extra, or will they just adjust my future premiums based on that?
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Jan 23, 2023 20:53
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TheGreyGhost posted:Yeah this. California DOI literally has more enforcement power than small claims does and won’t cost court fees. Insurance denied it, saying that it was due to age/wear and tear/seeping water. What's the best plan forward to addressing this? I am planning to write an appeal letter, presenting the evidence and relevant policy section, which covers damage due to weight of water on a roof. Is it worth it to pay lawyer for a couple of hours to read over the letter to have the best chance of it working? Assuming it doesn't I would follow up with a DOI complaint, and then maybe an actual lawsuit if we have a strong case. Thoughts? I assume if we get to the DOI stage, or maybe even just with the appeal, they're going to decline to renew. Should I get a new insurer now or wait until we get dropped? They're pretty useless if they won't pay for reasonable claims.
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Jan 24, 2023 09:37
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literally this big posted:Thanks for the feedback. I upped my coverage to 100k/300k, as well 300k Property Damage. I can afford it now, it didn't cost that much extra, and the peace of mind is important. Is 300k PD excessive? It felt like a single Lexus could take me over 100k in an accident. I would say 100k is usually more than enough. A typical Lexus shouldn't cost anywhere near $100k. 300k would only really be needed in the even you hit multiple expensive vehicles at a high rate of speed or maybe crash plow through the wall of a building. It's probably not that much more than the 100k limit just because property claims over 100k are exceedingly rare. quote:Thanks for the info. Do OEM parts help with resale value? And if my insurance only offers to cover non-OEM parts, could I offer to pay the difference to get OEM parts? I'm not an appraiser, but I'm fairly certain parts usage doesn't matter for resale value. Valuation reports care more about the overall condition of the vehicle. Keep in mind, if you try to DIY a repair and slap an unpainted bumper cover on attached with hardware screws, that certainly will affect the value. If OEM parts are a must for you, yes, you can pay the difference. quote:What if I'll be doing a lot of driving all around the state? None of my driving is directly related to work, but if I get into an accident 150 miles from home while on work, will my insurance agent question what I was doing so far from home? And if I end up driving more in a year than my estimated mileage, will I have to pay the difference for the extra, or will they just adjust my future premiums based on that? As I mentioned, as long as the usage of the vehicle isn't part of your core job duties, it's not an issue. Business use exclusions mostly apply to delivery, rideshare (Uber, Lyft, etc.), and taxis. If you're not 100% sure though, talk to your agent. As for mileage, that's on the actuary side of things. However, you're not gonna get hit with a penalty for going 1 mile over your estimate. As long as the estimate you gave wasn't knowing misleading, you shouldn't have any issues. I suppose if you're insurance company did somehow find an excessive difference, they'd likely just adjust your premium at your next renewal. Infidel Castro fucked around with this message at 16:20 on Jan 24, 2023 |
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Jan 24, 2023 16:17
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The Vikings posted:Got another question about insurance in California: Our house had a big deluge of water come through the roof, through the attic, and into bedroom and bathroom during one of the big rainstorms in November. There is a low-sloped section above where it came in, so a bunch of water must have collected and broke through. Roof was new when we bought the house in July 2021, and inspected as in good condition at that time. No leaks or anything before the incident. Roofer looked at it later that day and then repaired it a couple weeks later, didn't see any obvious damage besides this one spot. I wouldn’t be in a rush to replace the coverage yet just because a lot of carriers aren’t writing anyone right now until they get their rate increases, unless you have an independent agency out here which I would recommend. Your workflow idea here is correct. Follow their appeal procedures to a dead end, then you can work with the DOI and potentially sue if nothing’s working. For the sake of making your claim as strong as possible, it does help to have a paper trail of doing everything you can to give them a chance pay first.
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Jan 24, 2023 22:52
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I have a 2011 audi a4 avant (station wagon) that I barely drive anymore due to WFH, only 1,000 miles a year perhaps. It's only got 57K miles. I'm trying to figure out what deductible I should select for comprehensive and collision given that 1) rarely drive 2) I don't really care if the car sustains body damage unless it actually affects the ability of the car to drive (i.e. I'm just going to drive it until it dies or is totaled) 3) The resale value of the vehicle is probably only ~8k at this point 4) car is always parked in garage so vandalism/theft, or weather related damage is pretty unlikely right now my comprehensive and collision has a 1,000 deductible for each. Nationwide (I use their pay by the mile "SmartMiles") said comprehensive is "most commonly used when someone hits an animal," or in cases of fire, vandalism, or theft. Given that the vehicle is again not worth a huge amount, would choosing the highest deductible be best? My thought is if it sustained something that serious, the vehicle would probably be totaled anyway. Same question about collision, though I'm certainly more likely to have a claim for that than comprehensive.
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Jan 27, 2023 18:18
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actionjackson posted:I have a 2011 audi a4 avant (station wagon) that I barely drive anymore due to WFH, only 1,000 miles a year perhaps. It's only got 57K miles. I'm trying to figure out what deductible I should select for comprehensive and collision given that Any reason you wouldn't just go liability only?
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Jan 27, 2023 18:58
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Grumpwagon posted:Any reason you wouldn't just go liability only? well, here is what I have right now. breaking down the cost, it's about 30% bodily injury liability, 28% collision, 13% property damage liability, 11% damage to your auto (not sure exactly what that means), everything else is <10% side note, i would keep full safety glass, that's already come in handy once!
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Jan 27, 2023 22:53
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Comprehensive will save you if you go to turn it on for its weekly trip to the grocery store and rats have chewed the wiring. I personally would keep comp and coll just to not have to worry about it unless the payout on collision is going to be under a few grand.
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Jan 27, 2023 23:10
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H110Hawk posted:Comprehensive will save you if you go to turn it on for its weekly trip to the grocery store and rats have chewed the wiring. I personally would keep comp and coll just to not have to worry about it unless the payout on collision is going to be under a few grand. is there anything you would get rid of completely? not as worried about the animal thing given i'm in a secured garage. the other question would be the best deductible. For reference, my base rate now is $67/month (last year it was only about $53, but prices keep increasing of course). with my little driving it's only about $72 after that. I have not had any claims in more than five years. here is the deductible and cost per month for each option (I'm legally required by my state to have some level of coverage for both): comprehensive 1k, 9.40 (what I have now) 1.5k, 8.43 2k, 7.59 2.5k, 6.87 5k, 4.94 collision 1k, 24 (what i have now) 1.5k, 21.40 2k, 19.26 2.5k, 17.31 5k, 10.48
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Jan 28, 2023 00:09
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Personally I don't see a point in high deductibles for car insurance. If you have to total out your car do you really want to pay thousands in deductible out of pocket? I have $500 ones on my car. I still wouldn't claim anything under a few grand where I'm at fault.
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Jan 28, 2023 00:13
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H110Hawk posted:Personally I don't see a point in high deductibles for car insurance. If you have to total out your car do you really want to pay thousands in deductible out of pocket? I have $500 ones on my car. I still wouldn't claim anything under a few grand where I'm at fault. it wasn't clear to me how my coverage would work if my car was totaled. I took a look and there's a coverage option where if it is totaled (I assume that's an actual legal term meaning the cost to repair exceeds the value of the vehicle), I would not owe my deductible. It's an extra $3/month. worth getting? another $3 month option is vanishing deductible. this doesn't seem like as great of a deal though, every year of safe driving (I assume that means no claims) my deductible is decreased by $100, up to $500 max. So I'm paying $36/year to save between $100-500, and obviously I'm only saving that if I have a claim. The EV on that has to be negative - if I have five years of safe driving, that costs me $180 to save only $500. I would have to have a claim more than 36% of the time to be of any benefit actionjackson fucked around with this message at 05:06 on Jan 28, 2023 |
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Jan 28, 2023 04:59
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My 2 cents for the consumer is to think less about what coverages are the best value and more about what level of service you want from your insurance carrier. Insurance is intended to be negative EV and coverages are priced "fairly" due to the competitive nature of the personal auto market. So the coverage options are really more about your personal comfort level with uncertainty and your cash flow situation. If you don't mind dropping 30k on a dime for a new car and haggling with another insurance company if their insured is at fault in an accident maybe you don't need comp/collision if there's no lien on the car. Or if you can but really like the idea of just being able to call your insurance company for everything and say hey, deal with this for me, then maybe buy all the coverage available. Yeah, you'll only get 1k payout after your 1k deductible on an old rear end car but at least your insurance company will deal with it for you.
Virtue fucked around with this message at 22:02 on Jan 28, 2023 |
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Jan 28, 2023 21:57
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| # ? Apr 26, 2024 23:44 |
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as I said, I'm required to have comp and collision coverage in my state (MN), so that part is kind of moot.
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Jan 28, 2023 22:02
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