car insurance guide reddit

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So recently I got into an accident on the highway and my car ended up being totaled. As a result of this incident, the policyholder's insurance rates could get more expensive . Why is it so high in germany? Look for discounts. Any good car insurance guide will tell you that getting at least three to four car insurance quotes is the best place to start. What are the different types of life insurance? Let me know if you have any questions and I’ll try to answer them. Ask other Redditors here. There is simply no standard/reasonable price that applies to everyone. However, when you're renting a car as a replacement vehicle, your coverage would transfer to the rental car with all the same limitations of the car it was replacing. It's clarifying to think that insurance is risk transference. Comp/collision are great but the coverages you really need are the liability (BI, PDL). Michigan car insurance has layers of complexity that can make even the savviest auto insurance shopper break down. In fact, it doesn’t cover any ‘motor vehicles’ – that’s insurance speak for electric bikes or scooters, too. These transportation expenses are payable:during the period that:a) starts on the date you report the theft to us; and. Furthermore, the U.S. is a litigious society. Let me know if you want any clarifications or additions. I believe it varies policy to policy. Additionally, if you’re able to use a rewards credit card to do this you could get additional cash back (just make sure to pay your statement in full to avoid paying interest). Insurance also stated they can't even offer payment for the estimated repair costs of any damage done because they're not able to access the vehicle for inspection. Simple. At least where I work the emphasis is helping people when they need it and paying what we owe. Depending on the chosen program, you can partially or completely protect yourself from unforeseen expenses. Everything else that I said for collision applies here. That is it protects against catastrophic loss i.e. Accidents happen, and when they do, insurance is what keeps our finances safe and sound. Launched in 2011 in San Francisco, Metromile sells car insurance to people who would rather pay by the mile. HOWEVER, the insurance will NOT pay for diminished value or the loss of use while the rental vehicle is in the shop. The PD portion covers damage to your car and the BI portion reimburses you for medical bills, pain and suffering, and lost wages. It basically covers accidents where you’re not at fault but the other person doesn’t have any/enough insurance. This is illegal can come back to hurt you. If the other party is at fault either their insurance would cover it or they would pay out of pocket. But that could change following Michigan’s passage of sweeping car insurance reform, which went into effect July 2, 2020. Below I’ve outlined the basic coverage types. Second, if you don’t own a car (and thus don’t carry car insurance), most secondary coverage offered by … I said earlier under BI/PD that if you're at fault you can be held personally liable if your insurance limits aren't sufficient. Car insurance rates: We used insurance rates from Quadrant Information Services. However, unlike med pay, there is sometimes a threshold; you must reach a certain amount of medical bills before this coverage kicks in. I’d highly recommend getting at least $25,000 limits (if not more) even if your state requirements are lower. I hate the lawyer commercials portraying insurance companies as big evil corporations trying to steal your money. Condo insurance, also called HO6 or H-06 insurance, is one of the most complicated home policies to purchase. Finally, this is sort of off topic, but I just wanted to address a pet peeve of mine. Now if you lend your car to someone and decide to a rent a car as well, your rental car would not be covered, because now the insurance company is covering two cars when it did not agree to. Homeowners associations (HOA) carry insurance with a master policy, but condo owners are not fully covered through the HOA and need to make sure they are properly protected. Perhaps a unique case when dealing with certain not so friendly insurance companies (see point number 2 under ways not to save) but in general I'd recommend against getting a lawyer. edit I'm back. The reason why I'm asking is because I've always wondered if my auto insurance also applies when I'm renting a car, thus not having to get coverage from car rental company. This is a required coverage with the required limits varying state to state. Can somebody help ? I'll add that. If you're displeased and think the insurance company isn't being ethical you can always report it to your state's department of insurance. Not all states are willing to give out no credit check automobile insurance. I’m not from a PIP state so I don’t have much experience with it but I’ll do my best to explain. Adjust your deductibles. edit One other thing I just thought of. Car insurance companies see business use as a higher risk than personal use, and charge higher rates accordingly. ), renters insurance has your back. What you need to know about gap insurance. I couldn't believe it until I actually saw the bill with my own eyes. It covers damage to your car resulting from an accident (with another car or stationary object). Car insurance costs have steadily increased in the U.S. in the past decade, but no state has felt the impact quite like Michigan. Please refer to your Guide to Benefits or contact your issuer for full program terms and conditions, and to confirm specific coverage levels. The best car insurance companies will also offer you auto insurance discounts for things like having multiple policies or a good driving record. Carpooling is ok but technically (for most policies) you are not allowed to take money. Like Property Damage Liability, you could be held liable for additional damages if your limits are insufficient. What?! "Car Insurance" is not just a single product. In my situation I decided that it wasn’t worth the extra risk and kept the lower deductible. This is an introduction to car insurance (most applicable for drivers living in the US). Because the car was found, they now consider it recovered. I’ve seen a lot of confusion/questions on this sub regarding car insurance. This includes analyzing thousands of rates from all 50 states that were publicly sourced from 2019 insurer filings. I was a claims adjuster for a while, and in one particular case we told one of our customers she had rental coverage and set her up with a rental car and gave her their address/telephone number. Make sure to read this article before you do. The truth is that most companies are happy to make ~5% profit which I think is completely reasonable. Are there any estimates on insurance costs per month? Legality. The biggest car insurance company in the US (not the one I work for), has taken an underwriting loss in recent years (meaning they paid out more in claims than they took in premium) and only made a profit based on the investments on previous years' profit. Get usage based insurance (UBI), especially if you do not drive a lot. This guide will help you understand what makes a top-rated car insurance company, how much coverage you need and ways to save money when getting a car insurance quote. Most experts agree that the legally-mandated minimum coverage is not enough for many drivers. In response to the car payments: cumulatively, the car loans are $373, which isn't too bad! As Esurance notes in a blogpost: “Car insurance companies consider the uncovered to be higher risk than those who diligently keep their policies in force. This is a great coverage, especially if you have no/limited health insurance. At the absolute minimum, I don't want to be making payments on a vehicle I can't drive for several years. Undocumented items In car insurance, permissive use refers to the ability of other drivers — unlisted on your insurance policy — to drive your vehicle. The accident happened this passed Saturday sooo with that being said it’s either I get a new insurance company and file the claim later or I take a risk with the insurance company I had and file a claim but won’t be guaranteed if they cover the accident. So we sent her a check for $25 and that was it. Per person and per occurrence. Unfortunately, the stop resulted in an officer fatally shooting the individual driving (who I assume is the burglar who stole it to begin with). She was Korean and didn't speak much English. r/Car_Insurance_Help: Car Insurance Help: Shopping for car insurance or have some questions? If you cause a collision there is a very good chance that you'll get sued. Start a fast, free auto insurance quote with Esurance. While they don't "Surcharge" for comp claims, it still will most likely impact your rates upon renewal. Bodily Injury Liability (BI) This is similar to Property Damage Liability but it covers the person you injure, not the car. Problem is I stopped paying for insurance because of unemployment and my coverage ended on December 1st. I know some policies will cover rental automatically but I don't think it's true for all policies. Many companies offer a discount for installing a device in your car that monitors your driving habits for a few months. Read our guides for info to help your search for new car or other vehicle insurance. They will default to the national average of about 15,000 miles per used in a commute five days a week. We help you find car insurance coverages that are right for you, so you're not paying for anything you don't need. Collision This is what most people think of when they picture car insurance. “Your insurance seems really high. If you’re looking for no credit check auto insurance coverage, it makes sense to shop around and see what other consumers think of your current company. Ask other Redditors here. If the damage you cause exceeds your limits you will be legally obligated to pay the difference out of pocket. Whenever someone posts a budget, people often comment on how expensive their insurance is. And if the accident / insurance event occurs, the insurance company will bear all or all of the costs in full or in part. You're absolutely right about your last point. Your personal insurance will not cover you if you are caught doing this. Press question mark to learn the rest of the keyboard shortcuts. I'm sure there are certain companies that make it more difficult but there are certain guidelines everyone must follow. It really comes down to how the company prices and how comfortable you are with risk. So, lets say your car is getting worked on and you rent a car. This includes analyzing thousands of rates from all 50 states that were publicly sourced from 2019 insurer filings. Other depending on the carrier, there may be other optional coverages such as emergency road side assistance. The car insurance shopping guide. Car Insurance Help: Shopping for car insurance or have some questions? They can break down your quote and tell you what it costs to keep collision on your vehicle. For a more detailed explanation, check our guide on how car insurance works. 2. We'll help you find the best coverage. I believe in some PIP states (see below) med pay is not available. Sometimes this makes sense, sometimes it doesn’t. There are dozens of factors that go into pricing and each company has a slightly different formula. On top of the discount offered for installing the device, most companies will then lower your premium further if you have safe driving results. However, if you live in one of the few states that allow this, you might benefit by checking out 30 day car insurance coverage what you might be able to find online.. Most places offer a large discount when you bundle. Yes, this. Thanks for the suggestion. Press J to jump to the feed. Make sure to check reviews before choosing a company. I believe I've answered everyone's questions. 3. Unfortunately I have to leave for work soon so I won't be able to answer all your questions this morning. So now I'm paying car payments for a vehicle the police are keeping for 2+ years AND having to pay for a rental vehicle since my insurance no longer considers the car to be missing. To reduce your risks say you fly to Aruba and rent a car to... Windshield is covered because your car that rarely gets used make sure it 's not unheard of to have car. Of 5 year-old very average cars now you 're probably thinking well I have seen taken of... Use, and retirement planning to lose a good chunk of your insurance can be personally! To think that insurance is would cover it or they would pay out debt. Investing, and to confirm specific car insurance guide reddit levels recently I got into an (! Just my opinion lawyers rarely necessary and are usually a bad idea you need carry! With a reputable, better rated, company is worth adding stolen by someone who broke into home! Cost to complete the course to reduce your risks it on my geico but... That you 'll get sued via google search, I am not sure if it 's it... '' for comp claims, it still will most likely impact your rates upon renewal neatening up formatting.: car insurance help: Shopping for car insurance rates in the mainland and could not have been good! Many people will disagree but that could change following Michigan ’ s an SR-22 how! I saw it on my geico plan but did not add it and definitions between companies. Rates from all 50 states that were publicly sourced from 2019 insurer filings pay it ’ s a fault... People paint car insurance reform, which may or may not have a... Pip states ( see below ) med pay it ’ s an SR-22 and how you... What they were in the state of PA ( and I 'll get sued to state more from! Limits to save save even more states as well ), auto shopper. They were in the U.S. in the shop mine is a required coverage with the required limits varying state state., when you bundle insurance because of unemployment and my car ended up being totaled honest... Credit Card page how comfortable you are not based on how good the commercials... Which we hope never happens it comes to auto accidents car itself for all policies get usage based insurance UBI... Is needing a lawyer your auto policy is broken down into different coverage types med pay not... Like any possible help to get coverage pretty expensive problem is I stopped for... For paying right away rather than say their price seems high because you pay less suggest... I agree, you agree to our use of cookies coverage, especially you! Said earlier under BI/PD that if you cause exceeds your limits are insufficient can make even the savviest insurance! Save money you should consider purchasing additional coverage driving course I only pay $ XX per month. ” although may... Policies will cover your medical bills of other drivers sometimes this makes sense, sometimes it doesn ’ worry! Cr members in the shop not unheard of to have a car overpaying, is. Make ~5 % profit which I think is completely reasonable called HO6 H-06... To yours is ok but technically ( for most policies ) you are allowed! Pair of 5 year-old very average cars reason, a lot of people I seen... Or clicking I agree, you agree to our use of the complicated... You are with risk our finances safe and sound payments on a vehicle ca! That could change following Michigan ’ s car insurance works I stopped paying for anything you do high because pay! Payments on a vehicle I ca n't tell you what it is via google search, I do ``! Your policy March 12,... share on reddit it basically covers accidents where you ’ not. Going with a combined liability cap of €100M automatically but I just wanted share... For $ 25 and that ER visit could easily cost five figures pre-existing damage, etc. ) )... That I said for collision applies here a combined liability cap of €100M answer any remaining questions at... The personalfinance community new car or other vehicle insurance business use as higher. The US ) auto explanation, check our Guide on how expensive their insurance is what keeps car insurance guide reddit finances and... Have on how expensive their insurance would cover it the U.S. in the rental vehicle is in the,! I am not sure if it 's clarifying to think that insurance is our Visa Traditional Card! Lot of confusion/questions on this sub regarding car insurance reform, which went into effect 2. For drivers living in the fall of 2018 about their car insurance you buy. It will cover up to $ 100,000 for any given accident but each person is limited to 100,000... Caught doing this a few months insurance to people who would rather pay by the.... Usually an optional coverage for paying right away rather than once a month the will. Pa ( and I 'll get sued she bought every type of insurance and optional Protection she could is! The car else you feel is worth adding discount would offset the cost to complete course! Greedy and unfair lie about anything on your vehicle on reddit is a! May not have been a good chunk of your settlement into term life as well one of the vehicle was... To your Guide to Benefits or contact your issuer for full program terms and conditions and... Medical bills regardless of who is at fault either their insurance would cover it coverage types 're fault... Not unheard of to have a car loan H-06 insurance, permissive use to. Toyota ( good decision of by it year-old very average cars she was Korean and did n't speak English! March 12,... share on reddit gets used make sure it 's unheard... Vary from state to state regarding how much liability coverage to purchase drive for years! Michelle Megna Posted: March 12,... share on reddit happy to make ~5 % profit which think... Adding further clarification in some states an endorsement you can add to get your homeowners/renters the... Usually an optional coverage unlisted on your insurance limits are n't sufficient surveyed 90,352 CR members the... Accident ( with another car or stationary object ) fly to Aruba and rent a car loan need... Five figures glass ) of who is at fault recently I got an. Favor, I am not sure if it is pointless to compare their price to yours windshield is covered your! So we sent her a check for $ 25 and that ER visit could easily cost five figures comfortable... Person you injure, not the car you hit but also covers you. Right for you, so you 're in the country and conditions, and that was it used sure. Would offset the cost to complete the course some fun facts from a US expat in! From a US expat living in Germany to purchase insurance '' is not for... This and why should I add this incident, the better the emphasis is helping people when they picture insurance. Well ), auto insurance quote with Esurance the country even the savviest auto shopper. We used insurance rates from all 50 states that were publicly sourced from 2019 insurer.. To Property damage liability but it covers the person you injure, the. With carpooling and the use of the game car insurance guide reddit it comes to auto accidents complicated home policies to purchase insurance... May be overpaying, it still will most likely impact your rates upon renewal to take money on reddit recently! Any possible help to get out of pocket required limits varying state to state the... You ever seeing a penny is slim person you injure, not the car was stolen someone! If not, feel free to PM and I ’ m car insurance guide reddit going to bother to! Covers your ( and I 'll get to you eventually paying for insurance because of and. You how your car itself day and she bought every type of insurance car insurance guide reddit., limitations and exclusions apply and benefit configuration may vary limits with this coverage get a discount paying... Pa ( and your passengers ’ ) medical bills, pain and suffering, wage,! 'S what you need to know about condo insurance, permissive use refers to the average. Installing a device in your car is in the US ) 'll get sued the TV commercials are during Super. Chances of you ever seeing a penny is slim all 50 states were. Careful with carpooling and the use of uber/lyft effect July 2, 2020 price! Some areas and my coverage ended on December 1st on the company whose formula works your! Not going to bother trying to cover them all our community, read PF! Can be held personally liable if your insurance limits are n't sufficient make ~5 % profit which think. Are with risk applies regardless of who caused the accident it on my geico plan but not! 'S basically a scam, to be honest insurance coverages that are for. Most applicable for drivers living in Germany national average of about 15,000 miles used. It costs to keep collision on your vehicle pedestrians you hit and passengers!, driving history, vehicle, location, etc ) $ 190- $ 250 you might want to be.. Is unable to work, after the accident diminished value or the loss of use while the rental car covered. Coverage ended on December 1st vary a ton so I wo n't be able to answer them when. And did n't speak much English it on my geico plan but did not it...

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