What's your insurance coverage?

[thoots]

Well, the "You guys need to stop having so many accidents" thread got me thinking about what I think could be a good thread -- "What's your insurance coverage?" How much coverage do you have for liability, and so on. Gosh, I'm pretty much just going by what my father told me decades ago, and what my agent recommended. I really don't have much of a clue about whether "I've got enough" or not. I sure don't expect that "I've got too much."

So, chime in with what you think is right! And I'll go dig up my policy and see what I've got.

Should be interesting!

[njerald]

$100,000/300,000/100,000 Bodily Injury, Property Damage

$25,000/50,000/25,000 Underinsured Motorists

$1,000 deductible - Collision

$250 Deductible - Other than Collision

Personal Injury Protection - PIP - 10

$515.00/year premium

I wouldn't go less $$$ on Bodily Injury.........

[ebumdude]

$100,000/300,000/100,000 Bodily Injury, Property Damage

$500 deductible - Collision

$250 Deductible - Comprehensive

Personal Injury Protection - PIP - 10

$600/every six months (I had an at fault accident last year in my F150)

That $600 every six months we pay is for one vehicle with my wife and I covered.

[thoots]

OK, dug mine out:

$100,000/$300,000/$100,000 Bodily Injury, Property Damage

$100,000/$300,000/$10,000 Uninsured Motor Vehicle

$500 Deductible - Collision

$500 Deductible - Comprehensive

Personal Injury Protection - PIP - Buried deeper in the paperwork somewhere....

I've also got Emergency Road Service and Car Rental / Travel Expense coverage -- those add up to about $17 for this period....

Not too sure about the premium with the brand-new SE V6 -- $385 for SEVEN months, so we'll see how that goes down for the following six months. Sure, you can divide it by seven, but "we'll see" if that's really the case.

I've heard that dropping the deductibles way down costs very littlle -- I suppose I should check into that. If it's only a few bucks ever six months, that doesn't sound bad at all....

[ebumdude]

Originally Posted by thoots

I've heard that dropping the deductibles way down costs very littlle -- I suppose I should check into that. If it's only a few bucks ever six months, that doesn't sound bad at all....

Especially Comprehensive. I just had mine dropped to 250 for only a couple of dollars more.

A low comprehensive deductible is good for those of you that plan on having any audio equipment. Comprehensive covers all stolen property, as well as any damage done to the vehicle while the sh*t bag thief was in your ride.

[white3ch0c0late]

Eh... I don't remember the details... but I'm insured with full coverage with very increased coverages on 4 cars ('02 Camry LE, '07 Camry LE V6, '05 RX330, and '03 Corolla LE), with a good driver discount and a good student discount. I'm paying something like $1400/year.

[wireless]

Unless you guys have left off some zero's you are woefully under covered, IMO. I can see from second hand experience (cousin in accident with me in the car) that you can easily exceed your couple hundred thousand coverage in an instant. Especially if there is a major at fault incident...you would be financially wiped out. On the other hand, if your personal assets don't amount to much (you don't own a home, struggle from paycheck to paycheck, violins are wailing), you don't have a whole lot for them to bother about, so the minimum requirements might actually suit you, not to mention save you some much-needed cash. As for the deductible, I look at it another way. $500 isn't a major hit for me so I would sooner pay $500 or less out of pocket than risk a long term (multi-year) rise in premium. It is very easy to have dents/dings that exceed $250 but stay under $500 and I won't claim those.

$250M/Person Bodily Injury, $500M/Accident
$100M/Accident Property Damage

Same for Uninsured/Underinsured Motorists

$500 deductible - Collision

$500 Deductible - Other than Collision

Road Service, Transportation coverage etc...

$890/year premium covers myself and my wife.

(Wife had a couple incidents)

[geoff5093]

I honestly don't remember my exact coverage since I don't have the papers with me, however the details I do know is that I have "full coverage", $500 deductible and pay $760 per year.

I am also only 19, but with the student discount and some tricky maneuvering I got the premium so low. I actually paid $800 per year on my '94 Camry liability only, haha.

[thoots]

Well, your "zero's" comment got me. Let's make this perfectly clear....

Originally Posted by wireless

Unless you guys have left off some zero's you are woefully under covered, IMO.

$250M/Person Bodily Injury, $500M/Accident
$100M/Accident Property Damage

"M" can mean different things to different people. You're still saying "$250,000 / $500,000 / $100,000," right?

[wireless]

Originally Posted by thoots

Well, your "zero's" comment got me. Let's make this perfectly clear....



"M" can mean different things to different people. You're still saying "$250,000 / $500,000 / $100,000," right?

That is correct.

[Tobeit]

Originally Posted by wireless

Unless you guys have left off some zero's you are woefully under covered, IMO. I can see from second hand experience (cousin in accident with me in the car) that you can easily exceed your couple hundred thousand coverage in an instant. Especially if there is a major at fault incident...you would be financially wiped out. On the other hand, if your personal assets don't amount to much (you don't own a home, struggle from paycheck to paycheck, violins are wailing), you don't have a whole lot for them to bother about, so the minimum requirements might actually suit you, not to mention save you some much-needed cash. As for the deductible, I look at it another way. $500 isn't a major hit for me so I would sooner pay $500 or less out of pocket than risk a long term (multi-year) rise in premium. It is very easy to have dents/dings that exceed $250 but stay under $500 and I won't claim those.

$250M/Person Bodily Injury, $500M/Accident
$100M/Accident Property Damage

Same for Uninsured/Underinsured Motorists

$500 deductible - Collision

$500 Deductible - Other than Collision

Road Service, Transportation coverage etc...

$890/year premium covers myself and my wife.

(Wife had a couple incidents)

Your coverage is $250000/$500000/$100000 - not millions (M stands for x1000)...nobody is insured beyond $1000000 with a normal insurance company. They do not offer that to my knowledge - only for specials like a few million bucks for some celebrity dancer/singer legs ...so, they did not left some zero's off

[thoots]

Originally Posted by Tobeit

Your coverage is $250000/$500000/$100000 - not millions (M stands for x1000)...nobody is insured beyond $1000000 with a normal insurance company. They do not offer that to my knowledge - only for specials like a few million bucks for some celebrity dancer/singer legs ...so, they did not left some zero's off

Yeah, that's where I was coming from: "Nah, couldn't be!"

[Wayward_Traveller]

Just got mine last Friday--

Bodily Injury 100,000/300,00
Property 50,000
Uninsured 100,000/300,000
Underinsured 100,000/300,000
Towing / Rental
Glass coverage- no deductable
$500 deductable on comp and collision

$35.66 a month aka $428 a year

[ebumdude]

Originally Posted by Tobeit

Your coverage is $250000/$500000/$100000 - not millions (M stands for x1000)...nobody is insured beyond $1000000 with a normal insurance company. They do not offer that to my knowledge - only for specials like a few million bucks for some celebrity dancer/singer legs ...so, they did not left some zero's off

LOL....those M's threw me off too.

I was like, "There is no F*ng way".....

[wireless]

On my policy paperwork from Erie, they use "M" to equal Thousand. I don't get it either.