How Much Auto Insurance Do You Carry?

[Admiral Yi]

Bought some insurance today, as my mom passed title of her car to me.  I had not bought insurance in decades.  In the past I had always just got the state-mandated minimum liability, but the place i went to said the minimum they sold was 100,000/200,000/100,000. (Iowa minimum is 20K/40K/20K).

I passed on the comprehensive and the collision.  I figure cars don't get stolen in Iowa and I've never cracked up a car in my life.  Good move?  Bad move?

[garbon]

So are you just rocking liability?

Doesn't comprehensive cover more than just theft?

Oh and are there not other insurance companies to check out?

[Eddie Teach]

I don't own a car right now so none.

[katmai]

Bodily Injury Liability
Current Limit: $50,000/$100,000
   
Property Damage Liability
Current Limit: $25,000

Uninsured Motorist & Underinsured Motorist
Current Limit: $50,000/$100,000

Uninsured Motorist & Underinsured Motorist Property Damage
Current Limit: $25,000
Current Deductible: $250 Ded.


That is lowest i can go.

[DGuller]

Bought some insurance today, as my mom passed title of her car to me.  I had not bought insurance in decades.  In the past I had always just got the state-mandated minimum liability, but the place i went to said the minimum they sold was 100,000/200,000/100,000. (Iowa minimum is 20K/40K/20K).

I passed on the comprehensive and the collision.  I figure cars don't get stolen in Iowa and I've never cracked up a car in my life.  Good move?  Bad move?

How much is the car worth?  How much would comprehensive and collision add to your premiums?  Did you check Geico or Progressive?

[Eddie Teach]

He should get Allstate, because Dennis Haysbert is more trustworthy than Flo or the gecko. 

[garbon]

I hate Flo and am so sad to support them.

Geico has several different ad campaigns running at once and somehow I also hate all of them.

[DGuller]

You're going to pass on saving up to 15% or more on your car insurance?

[garbon]

I wasn't saving.

[DGuller]

I wasn't saving.

Technically, you were saving up to 15% or more.

[garbon]

True

[Barrister]

Bought some insurance today, as my mom passed title of her car to me.  I had not bought insurance in decades.  In the past I had always just got the state-mandated minimum liability, but the place i went to said the minimum they sold was 100,000/200,000/100,000. (Iowa minimum is 20K/40K/20K).

I passed on the comprehensive and the collision.  I figure cars don't get stolen in Iowa and I've never cracked up a car in my life.  Good move?  Bad move?

Collision and comprehensive - depends what your car is worth, and how easily you could replace it if it was in an accident or stolen.  You're driving a $3k beater, I'd pass too.

Liability though... wow.  I think the minimum is $200k (goggle - confirmed).  Working in insurance defence a decade ago it isn't all that hard to go over that amount at all.  I think I'm rocking $2 mil liability because it really didn''t cost that much more - maybe $20 or $50 for the year.

But then I'm also the guy who went out and bought liability insurance for his wedding.

[Ideologue]

I have SC's minimum coverage.

It is not $200k.  If someone has been inflicted with $2 million in damages, probably best the paramedics snap their necks as painlessly as possible.

[Barrister]

I have SC's minimum coverage.

It is not $200k.  If someone has been inflicted with $2 million in damages, probably best the paramedics snap their necks as painlessly as possible.

Lost wages is what can render liability through the roof.  If you can convince a judge that you're unable to work as a result of an accident, then you're good for their salary for the next 20+ years.  That can easily exceed a mil.

And by the way, I've got an old friend who, if he had been hit by another driver, instead of a moose, would have received a multi-million settlement since he became a quadriplegic.  He would very much disagree with your opinion.  (and he was a big, big fan of Manitoba's no-fault auto accident plan for that very reason)

[Admiral Yi]

How much is the car worth?  How much would comprehensive and collision add to your premiums?  Did you check Geico or Progressive?

Car is worth 7-9.  State Farm was asking $10/month for comp and $26/month for collision.

Checked Geico and Progressive, they were nowhere close to the price i ended up getting.