This is what I pay for insurance...

Discussion in 'General Motoring' started by Thomas Cooke, Feb 22, 2004.

  1. Thomas Cooke

    dizzy Guest

    Not that simple, doofus. What happens if someone nails you in a
    parking lot, then drives-off? That's right, you're out the
    dizzy, Feb 23, 2004
  2. Thomas Cooke

    dizzy Guest

    Nice top post, "Larry". Ever consider a blank line between what you
    write and the post that follows? Sheesh.
    dizzy, Feb 23, 2004
  3. Thomas Cooke

    TomP Guest

    You have a great deal. I'd be proud to pay so little for so much.
    (me: '90 Integra, liability only = $700 a year. No one under 25 can drive the
    car either.)

    Just hope the ins co will be there if/when you need them.

    Who is your carrier?


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    TomP, Feb 23, 2004
  4. Thomas Cooke

    Im anonymous Guest

    Yeah I know. I don't know if there are any other no-fault states, but I know MI is.
    Im anonymous, Feb 23, 2004
  5. Can you afford to go without a car or any money to go towards a replacement
    car if the Si were wiped out in a solo crash tomorrow?

    If the Si is your only car, I'd keep collision on it. If it's an 'extra'
    car, or a winter beater that doesn't have a lot of value left in it, you
    could consider going without.

    I just did a check on my '92 Mazda MX-3 GS, which is an 'extra' car to me
    with 142,000 miles so there's not a lot of resale value left in it.
    Collision coverage on a six-month policy ranges from a premium of $87 with
    a $1000 deductible to $173 with a $50 deductible.

    Doing a quick check on Progressive's site shows that for a random '02 Civic
    Si that's paid for, collision coverage ranges from $150 with $1000
    deductible to $301 with a $50 deductible.

    I'm a cheapskate, so I'm willing to keep $87 to $173 in my pocket every six
    months and if I do something stupid and kill the Mazda, it's gone and I'm
    going to get nothing from the insurance company to compensate for my loss. I
    figure right now it's probably a $2000 car, so to get $1950 back from the
    insurance company I'd have to spend _at least_ $173, and every six months I
    go without trashing the car it continues to cost me more, and the likelyhood
    of my getting the full $2000 back goes down as the car continues to lose
    value with age and mileage.

    Doing another quick check of shows that your 2000 Civic Si
    probably still has anywhere from $10000 to $14000 in resale value still in
    it. To me, that's way too much money to risk losing without any compensation
    if you wreck it in an at-fault accident tomorrow.

    But since you've already considered going without collision coverage
    entirely, you're probably OK with going with a maximum deductible on
    collision so you're paying the minimum amount of money for that coverage.
    With as much money as you still have tied up in that car, I'd make sure that
    if the car went away tomorrow, I'd still get something out of the insurance
    company for it so I could recoup some of that investment towards replacing

    But that's just me, and I'm only offering advice cause I got out of the
    business of telling other people what to do a long time ago.
    Alan J. Claffie, Feb 23, 2004
  6. Thomas Cooke

    Thomas Cooke Guest

    This is not the case though. I pay $70.00 per month for FULL coverage and a
    250 deductible on my 2002 Civic ex. My monthly payments car are $300.00.
    Thomas Cooke, Feb 24, 2004
  7. Thomas Cooke

    Thomas Cooke Guest

    My carrier is Liberty Mutual. I have been with them for about 20 years now.
    Thomas Cooke, Feb 24, 2004
  8. Thomas Cooke

    Seth Guest

    know MI is.

    NY is a no-fault state, but it doesn't apply as you state it.

    If I'm in an accident that is the other persons fault...

    -If I put the claim into my insurance company, they withhold the deductible.
    -If they collect the full amount from the other persons insurance company, I
    get re-imbursed.
    -If I go after the other persons insurance company, I collect in full.

    Every accident I (or my wife) has been in, I notify my insurance company of
    the accident (in case I have trouble collecting), and then go after the
    other persons insurance directly. There is no deductible on liability (the
    portion of the other persons insurance that pays my damages) and I collect
    in full.
    Seth, Feb 25, 2004
  9. Thomas Cooke

    Ryan Guest

    Dude-Keep that rate. I have 1 ticket on my record and pay $210 for a 98
    Civic EX. True I am 22-single and don't have the discounts you do but
    still. My deductable is 500. Keep your low deductable cause like the guy
    said above-it could take 3 years to save the money to be ahead. Doesn't
    sound like you have a problem paying it.

    As for the guy with the Si- If you live around the great Pacific Northwest
    you are absolutely crazy not to at lease have Comp. I don't know anybody
    here with a GSR, Si, Type R that hasn't had at least a little damage from a
    break in if not had the car stolen completely. Make sure you know how bad
    your area is cause you may be out $14000 if it gets jacked! Even though the
    key is chipped a good theif can get your car started in less than 45 seconds
    with a screwdriver.

    Ryan, Feb 26, 2004
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