Insurance

[wdc330i]

Originally Posted by ff

That doesn't sound bad. I pay $1860 a year. For a Honda Accord.

Wow. That does seem high. Are Hondas still the "most stolen vehicle in the US"?

[rumatt]

Originally Posted by ff

Mine have gone through the roof. I'm paying in the neighborhood of 250% more than I was 10 years ago. Despite having a clean record and being claim free. Part of that is due to going from married to single (why should that matter?), and the other, bigger part is living in a state with lots of accidents, and an endless supply of auto accident-related lawsuits.


I need to request a quote from them.

WTF that sounds terrible.

Geico's business model seems to be to give great rates to the lowest risk customers (older, clean record, etc) and overcharge everyone else to make up the difference. A single ticket can jack you up quite a bit.

One warning: Geico is super shady when you're buying the insurance. They give you a quote as if it's final and ask you to pay, and only then do they run your DMV report. If anything occurs on that report they jack up the rate at the last minute and try to slip it past you as if nothing changed. You can still back out at that point so it's fine, you just have to pay attention. They will not run the DMV report until you put a credit card on file because it costs them money to run it. It's best to call to get the quote so you understand when it's truly the final number.

[wdc330i]

We have "accident forgiveness" with USAA for five years of "clean driving." Not sure if GEICO offers something like that. But they don't mention what speeding tickets, etc. do to premiums...

[bren]

Originally Posted by wdc330i

Of course, this thread caused me to look up what we pay for car insurance. It's about $3,000 a year for three high-value cars in a high-claims area.

$1,000 deductible for each.

$500,000 per person/per accident bodily injury;

$100,000 property damage liability.

These numbers are causing me to double check our new umbrella liability policy to make sure there is no scary gap. Because ATL has some very high value cars zooming around.

We have rental reimbursement on everything but the Boxster. And we have a 20% "car replacement assistance" rider on all three cars. This is added onto the 'actual cash value' of the car, should a "total loss" occur. That's about $100 a year for all three cars.

My 2 is the cheapest to insure, followed by the SUV (which is a year older), then the Porsche.

That's not even close to enough. 2 BMW's and you are done.

Edit:
We got bit by this when our (then new) x3 was creamed. The at-fault party had some discount Geico policy that didn't cover all of the damages and our policy had to cover the difference and go after her.

[wdc330i]

Originally Posted by bren

That's not even close to enough. 2 BMW's and you are done.

Edit:
We got bit by this when our (then new) x3 was creamed. The at-fault party had some discount Geico policy that didn't cover all of the damages and our policy had to cover the difference and go after her.

That's for other people's property per accident, not our collision or comprehensive.

We have an umbrella beyond that. But you have me thinking about what happens if we are at fault in an accident that causes a chain reaction. Oy.

[bren]

Originally Posted by wdc330i

That's for other people's property per accident, not our collision or comprehensive.

Right, so only every hit 1 expensive car.

[wdc330i]

Originally Posted by bren

Right, so only every hit 1 expensive car.

Umbrella policy. But I am going to read the fine print on that one.

[ff]

Originally Posted by wdc330i

Wow. That does seem high. Are Hondas still the "most stolen vehicle in the US"?

The really old ones still are. As far as I can tell, the new ones aren't so much of a target.

Originally Posted by rumatt

WTF that sounds terrible.

Geico's business model seems to be to give great rates to the lowest risk customers (older, clean record, etc) and overcharge everyone else to make up the difference. A single ticket can jack you up quite a bit.

I just got a quote from their website which came in at $432 less per year. I do need to compare apples-to-apples later, though. I just made educated guesses at the coverage levels.

[bren]

Originally Posted by wdc330i

Umbrella policy. But I am going to read the fine print on that one.

Right. Good point. It would probably behoove me to read the details on mine as well. Seems like that's where all the angry comments come from...people think they have coverage, but the ins.co sneaks all kinds of stuff in the fine print to nullify.

[rumatt]

Has anyone ever considered earthquake and flood insurance, for those not in a risk zone?

I imagine the chance of my house being destroyed by an earthquake is zero... but WTF would I do if it were to happen? Pay the mortgage for the next 25 years on a house that doesn't exist?

Isn't this what insurance is supposed to be for? To protect me from rare, crippling events?