Coverage on Auto Insurance

[lrjohnson]

It time for an semi-annual car insurance payment. Which is making me think about switching. I'm on Progressive, getting aquote, and I need to know: What do I need as far as coverage?

(Why I'm not good at this stuff I don't know. I get paid to be an analyst at work-how come I'm a little dim off the clock?)

I've checked other threads and have seen some decent advice about companies . I really don't want to under insure or overinsure, and I didn't see an article/post on that.

We have me, 35 yo female with prior bad record but nothing bad in the last 36 months (well heck, the last 7 years). A 2000 Saturn SL1 with 35000 miles, annual maybe 5000 miles. Owned outright.

Then we have an 84 Chevy Blazer, driver my Guy, age 33, SPOTLESS record. Owned outright.

Of course we need basic liability. Do I need that to be more? (I've got choices like $15k person, $30k accident/$5k property, to $25k person, $50k accident/$10k property, to $50k person, $100k accident/$25k property.

We do want uninsured motorist coverage-we think that's a safe way to go. Is that right?

We figure no comprehensive or collision on the Blazer-is that right?

I'm less sure on the saturn. It would Kelley Bluye Book "private sale" at $4600, supposedly, but the truth is if I (or someone else) totalled it, I would be lookling for used cars is the $8000 or more range. I could do that out of me EF but I would be grumpy about it. Should I get some comprehensive, or collision?

I know it's really a judgement call and up to people personally, but I would welcome input, on coverage or anything auto insurance related.

Right now we are paying $534/6 mo for:
* basic liability 15k person, $30k accident,
* uninsured motorist injury 15k person, $30k accident,
* uninsured motorist property $3.5k/accident,
* comprehensive on saturn deductible 250,
* comprehensive on saturn deductible 1000.

We set these when I bought the saturn-clearly it's depreciated since 2004.

(I will try for non-smoker discounts, and a good driver one for my Guy. I take a defensive driving class for work which I will try to get a discount for, but my last one didn't-because it was through work.)

Thanks in advance for any links, tips, guidelines, personal stories, or fact rich posts.

[Diolla]

Originally Posted by lrjohnson

It time for an semi-annual car insurance payment. Which is making me think about switching. I'm on Progressive, getting aquote, and I need to know: What do I need as far as coverage?

A 2000 Saturn SL1 with 35000 miles, annual maybe 5000 miles. Owned outright.

84 Chevy Blazer, driver my Guy, age 33, SPOTLESS record. Owned outright.

We do want uninsured motorist coverage-we think that's a safe way to go. Is that right?

We figure no comprehensive or collision on the Blazer-is that right?

I'm less sure on the saturn. It would Kelley Bluye Book "private sale" at $4600, supposedly, but the truth is if I (or someone else) totalled it, I would be lookling for used cars is the $8000 or more range. I could do that out of me EF but I would be grumpy about it. Should I get some comprehensive, or collision?

I know it's really a judgement call and up to people personally, but I would welcome input, on coverage or anything auto insurance related.

Right now we are paying $534/6 mo for:
* basic liability 15k person, $30k accident,
* uninsured motorist injury 15k person, $30k accident,
* uninsured motorist property $3.5k/accident,
* comprehensive on saturn deductible 250,
* comprehensive on saturn deductible 1000.

In my opinion you are underinsured. What if you totaled a 3 month old Caddy, 30k?. What if the main wage earner of a family was permanently disabled or died? I think your liability needs raised. I have 100k/300k and hope it is adequate.

Comprehensive & collision is trickier. If I understand it correctly the insurance will only pay what the vehicle is worth not what it would cost you to get another vehicle (unless of course you could find an exact replica of the one you own) so chances are you will be out some money even if the other insurance company is paying. You might want to look at how much you save by not having it vs how much out of pocket costs would be if you did have it.

I am not an insurance person but I did have a client with $50k of medical debt due to an underinsured motorist (15k, the minimum in our state) hitting her. Unfortunately he died in the accident and had no assets anyway so she is stuck trying to pay off the bills.

Maybe someone who works with insurance can help more. Just my .02.

[lrjohnson]

I appreciate your 2 cents. This is what I wa slooking for-practical advice to help me determine coverage.

[34saving]

I agree with Diolla. If you have any assets at all you're underinsured. I'm also covered at 100/300 and worry a bit at that. Collision probably isn't necessary. Collision only helps if an accident is your fault and most of the time an accident won't be 100% your fault. Futhermore, you probably wouldn't bother to fix your car completely and you could probably get it running comparatively cheaply. (Of course you might truly total it -- that's the risk of not getting collision. So, is the $3000 or so you'd get in that situation worth the coverage cost? That's the question you have to answer.) Personally, I like comprehensive. Why? It's pretty cheap and dh and I have had 2 cars hailed out and 1 car flooded. It also usually covers glass (without the deductable even), which comes in handy. Now, you could argue that I'm "comprehensive prone" and you'd be right, but it's something to consider.

[boefixepa]

For the first time I had some assests and had been carrying only the state mins like you. I knew I'd be in hot water if I happened to total someone elses nice car. Before I didn't care because I didn't have anything. But know I do and I want to protect it. So this month when I had to renew I did the 100/300 coverage. I have full coverage and the highest deductables possible. Since I have accident coverage on my health insurance I was able to waiver personal medical expenses on the underinsured/uninsured categories. So there was a discount there. I also have a clean record, another discount, and I have my house insurance through them, another discount. I went from 15/30 coverage to 100/300 coverage and I am only paying $50 a year more!! Boy was I surprised. So I have full coverage for one care/driver for $470! I was pleased. I think raising my deductable helped, and since I have an EF that's fine. I'd rather keep the money yearly. I went into the angency and told them to educate me because I did not feel like I knew enough about what I was buying. I'm glad I did. You may want to try something like that.
Oh, and I recieved another discount for being with them for so many years and not having a claim. I think they just like making money off me...but oh well, at least I get a deal for something I have to have any way.

[markio26]

we own 3 properties, 4 vehicles, one is new, and we have the million dollar liability policy....plus, full coverage on the new vehicle, and liability on the other three vehicles. our properties have the replacement coverage.
so, i would tell you, if the vehicle has a value of less than $2000, just add liability, if it is over that amount, you may need full coverage or more coverage, like uninsured motorist...

[markio26]

boe:
what is the highest deductible.. i have a$1000 deductible.

thanks.