1. Don't lie on an application. This is about the worst thing you can possibly do. If you lie, you'll get caught at some point. You'll then be cancelled/declined, and that will follow you around for years. You'll notice on each application, there is a question something along the lines of, "Have you ever been denied insurance or had a policy cancelled before?" They'll check. They'll also pull your MVR (Motor Vehicle Report). They'll also likely run a CARFAX on your vehicle to see if it has been involved in any prior accidents.

2. Pick the highest deductible that you can afford. This is difficult for many people to comprehend. Many times, people will choose $500 or $1000 deductibles because it makes the premiums very attractive. Unfortunately, when you get into an accident (your fault or not), you then have to pony up the deductible (unless the other carrier pays for your damage). As an adjuster, one of the most common complaints that I'd hear is, "Well, I don't have $1000 in the bank to repair the car. The accident wasn't my fault. What are you going to do about it?"

Unfortunately, the answer typically is that the adjuster is not going to do anything about it, aside from try to get your deductible back from the responsible party, either by the process of subrogation (one insurance company going after another) or a lawsuit if the person is uninsured. Neither guarantee success, and in most cases, the adjuster is going to require that your vehicle be fixed prior to taking any action against a responsible party because, if we do it beforehand and the repairs cost more than the demanded amount, the insurance company is out that additional money.

So, the rule of thumb is as follows: If you don't normally have $1000 in the bank, then don't take the $1000 deductible. If you really only have $500 or $250 in the bank at any one time, choose that as your deductible amounts.

3. Know the value of your vehicle. Many people throw out thousands of dollars per year on useless insurance. A good and honest insurance agent will help you determine if you need Comprehensive and Collision insurance. A less-than-good agent (not necessarily dishonest, but let's leave it at inexperienced) will write you up any coverage you want without asking money-saving questions and also check insurance companies current price at http://www.insurance-quote-free.com

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and in most cases, the adjuster is going to require that your vehicle be fixed prior to taking any action against a responsible party because, if we do it beforehand and the repairs cost more than the demanded amount, the insurance company is out that additional money.

thats not necessarily true.

my car got rearended and the chicks insurance covered it. the original quote was around $600 for little cosmetic damage. when they took the panels off, they found all kinds of things bent. her insurance company had already written me a check for 600. the body shop called and confirmed the extra balance for the repairs with her insurance. i signed the check over to the body shop and then the body shop got the rest directly from the insurance company.



just to add to your list. garages and car alarms help insurance too. not a lot, but they help.

and also, my parents learned while i was on their insurance. if your young teen drives a hot car (mine was an 89 camaro), its cheaper to insure the child on the family's beater car rather than on his own car.




GO PATS!!!

ALSO be over 25, married, and live out in the boonies. Don't speed, don't crash, don't have any claims ever and your price will be much lower then an 18 yr old single guy who lives in the city and has had 12 tickets for speeding has totaled 3 cars, wrecked 2 more and had his rims and stero stollen 16 times.





Semper Fi SAINT. May you rest in peace.

@!#$ insurance i pay more in 6months for liability on my dumb ass daily driver then i paid for the thing

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@!#$ insurance i pay more in 6months for liability on my dumb ass daily driver then i paid for the thing

X2 !!!!! i HATE insurance..i pay more on insurance than i did for the car..and dont even TRY to say ill be thankful if something happens cus even if something did happen they wont pay for ANYTHING on MY car!

what is this about " well the cost of repair is higher than the value of the vehicle so well just give you the value in cash" SCREW THAT !! is MY car! i PAY YOU to insure it so FIX it!! ...but we alllll know how that turns out

insurance was better when it wasnt required. companies take advantage of the fact becuase theres no way around it. you HAVE to pay

on a happier note, my insurance agent is uber hott and so nice to me. i was her first customer when she went independent. Also its $35 less a month than everywhere else i've looked. (and i've checked most everything around here)

Insurance isn't required in all states yet. Theres still a few down south that its optional.




Semper Fi SAINT. May you rest in peace.

drive with out it

or throw a fire extinguisher on ur pillar

Whoever is writing this, you must have very little knowledge about insurance or how it works for that matter. I've been selling auto insurance over 10 years now. Know your facts before posting this kind of crap.

Myth #1 - Car-fax reports - NO ABSOLUTELY NOT your insurance company will not run them, that costs the insurance company money, plus, they could care less if it has been in accident before. If it has so what, it got fixed didn't it? If not, then OK you cannot get full coverage on it until that is taken care of.

Myth#2 - Know the value of your car - INSURANCE COMPANIES START FROM BLUE BOOK and work there way from there. Mileage, overall condition, warranty, extra items installed, receipts on new parts(engine, trans., etc) all get figured into the price if your vehicle is totaled out in a accident by the adjuster, not your insurance agent!

Myth#3- Get the highest deductible - DO NOT GET THE HIGHEST YOU CAN AFFORD - the difference between the 500 ded and the 1000 ded. is very little in most respects, perhaps 15-25 dollars per 6 mo. average. You are telling me that I need a 1000 ded when I'm only saving 4-5 per month doing it! Come on, lets be a realist here, friend!

Myth#4 - collision deductibles, you have to pay them anyway - NO YOU DON'T!!! - there are different types of collision coverage out there! Here I'll show you.....

- Broad Collision...You only pay you ded if the accident is your fault, if its not
your fault no ded need be paid be you, life goes on.
- Regular(Standard) Collision - You pay regardless of who is at fault in the
accident, and then you may be able to get
it from the other person, assuming they had
auto insurance, if not you go to small claims
court, and go from there..some times..you
get whats coming to you there.
- Limited Collision - Your fault in the accident - No coverage to repair the
vehicle, your out of luck. No your fault?, you have
coverage, minus any ded.

Myth#5 - the agent will tell you, you need comp + coll. -NO THEY WILL NOT DO THIS. The agent will ask you if you need it, due to a leinholder(bank, credit union, etc) that you are financing the car with. The leinholder will require this because of their interest in the vehicle, once it is paid off, the car is yours...you can do with it what you like, say, remove the comp + coll. of it, then you can do it.

Thats about it for right now, because this person did not state/give any info. on anything else, leave the job of insurance to the professional's my friend. You should not be on here giving advise on things you DON'T know. I have a full licence to sell insurance, securities, life ins, annuities, etc. - DO YOU!

If people truly want some correct info. PM me, I will tell you the truth, not this Mickey Mouse fairy tale garbage!

Thanks for your reading of this info. on the real info of insurance.







Silver Stripey makes your Day!

Ozzie(I Love Newbies) wrote:drive with out it

or throw a fire extinguisher on ur pillar

*BUZZER SOUND* Try again, cracksauce. I got hit head on by a kid driving a Jeep Cherokee at 50mph. Not only did he put me in the hospital for three weeks but he didn't have any fricken insurance. My insurance company sued his sorry ass and I STILL haven't gotten all my money.

I myself got busted because my insurance lapsed for two days when the check didn't get to them on time. Because I didn't send it sooner or at least call them to tell them it's on the way, I had to drop $400 for a fine because I didn't have insurance when I got pulled over.

And just last month my best friend got hit by a car, my friend doesn't have insurance, and they're still battling it out who was at fault. If he loses he not only has to fix his Taurus, $5K damage, but also the F-150 the other guy was driving, on top of the $680 fine for no insurance.

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Myth#4 - collision deductibles, you have to pay them anyway - NO YOU DON'T!!! - there are different types of collision coverage out there! Here I'll show you.....

this depends where your from. in Ontario YOU and no one else pays the ded for any accident no matter who is at fault. it this stupid "no fault" scam the insurance companys dreamed up.

Quote:

Myth#3- Get the highest deductible - DO NOT GET THE HIGHEST YOU CAN AFFORD - the difference between the 500 ded and the 1000 ded. is very little in most respects, perhaps 15-25 dollars per 6 mo. average. You are telling me that I need a 1000 ded when I'm only saving 4-5 per month doing it! Come on, lets be a realist here, friend!

i found this one out first hand. on a 12 month policy having a $1000 ded would only save me $38 in that 12 months, with my $500 ded im paying less then $2 more a month to save that $500 if i have an accident.

SiLvEr StRiPeY 04, a great write up man, it needs a sticky.

but i have 1 thing to add. if you buy new go for the total value insurance. for the extra money i think its a great deal considering the deperaction of cars. i.e. my car is worth $23k totalled but only $12k sold. and that coverage was like $120 a year.

correct me if im wrong on the total value part.




http://registry.gmenthusiast.com/images/my2005cav/my%20car%20the%20bash.jpg

In his defense, I think he might have meant LOWEST deductible you can afford. I hop so anyway.

Yes, I'm from Michigan, so I can only tell you Mich. NO-FAULT Insurance law and such.

Myth #6 - no-fault is a scam - WRONG- NO FAULT INSURANCE IS NOT A SCAM. No-Fault was created in 1974 - before most people here on the Org. were even born! No-Fault law began as a way for all people hurt/injured in auto accidents to have some type of medical care, everyone would pay say .27 cents per auto, that $$$ collected by the State of Mich. goes into the fund to help, the uninsured, the under-insured, anyone who was "left out in the cold" so to speak.

Today, 2006 that fund has been severely ill managed, over-strapped, and due to the rising cost of medical costs is now over $47.50 per vehicle in the red! Yes everyone in the State of Mich pays for something, that is run very much like our federal government, with a huge deficit! Sorry, for the long explanation, but it was needed, to properly explain it. Just think, if was not running in the RED, what it would truly cost everyone!!!!

*Footnote* People, Insurance Companies, Lobbing groups, etc., have tried to stop(NO-FAULT) but to no avail....the State of Mich lets this happen, not the insurance companies.

Sorry SUPERFASST, but here is yet another one

Myth #7 - if I total out my car the will give me a new one - YES, AND YOU GOT RIPPED OFF. Example: You buy a new car with replacement coverage, if its totaled out, you get a new one, YEAH!(for the Insurance Company) YES!
This type of insurance coverage at $120.00 per yr where you are, is even to me...a bit high, but lets say you've got 36,000 miles on the vehicle,and it is now now worth 8,000 $ - accident..it is totaled. The insurance company, sells your wreck for say $3,500 and they keep the $$ not you!. Then they turn around and give you a new car, for say, 15,000 same make, same model, same configuration, etc. But wait, you wanted the SS edition for $1,000 $ more! NO!, you cannot have it, you signed the form that says, only of a like vehicle, identical only, no changes. You are now stuck, paying insurance(higher now) due to the NEW car, instead of a used one that would be lower on insurance, in the end...long term. They get all that $$$ back and more! Just a example, by no means a rule.

If you have any other questions, keep them coming, insurance is complicated and not many know about it, or even bother to find out how it works. Insurance can be a great thing....BUT you get what you pay for...nothing more nothing less.








Silver Stripey makes your Day!

Quote:


Myth #7 - if I total out my car the will give me a new one - YES, AND YOU GOT RIPPED OFF. Example: You buy a new car with replacement coverage, if its totaled out, you get a new one, YEAH!(for the Insurance Company) YES!
This type of insurance coverage at $120.00 per yr where you are, is even to me...a bit high, but lets say you've got 36,000 miles on the vehicle,and it is now now worth 8,000 $ - accident..it is totaled. The insurance company, sells your wreck for say $3,500 and they keep the $$ not you!. Then they turn around and give you a new car, for say, 15,000 same make, same model, same configuration, etc. But wait, you wanted the SS edition for $1,000 $ more! NO!, you cannot have it, you signed the form that says, only of a like vehicle, identical only, no changes. You are now stuck, paying insurance(higher now) due to the NEW car, instead of a used one that would be lower on insurance, in the end...long term. They get all that $$$ back and more! Just a example, by no means a rule.

here (Ontario) total value means they write a cheque for what the value of the car was at time of purchase(new cars only) . it decreases a little after a year. but they don't get involved with anything but the payout. they give you the cheque and tell you to go get a car and call them when you find something. they don't even want to see the car unless you wreck it.

i dunno if this makes any sense but let me know and i will try to explain it more.



http://registry.gmenthusiast.com/images/my2005cav/my%20car%20the%20bash.jpg

My expertise lies, with Mich and is law, and types of insurance, I can only tell you what I know for my region. Your Insurance in your area may indeed be like that...and I'm in no dispute with you on it.

Any more questions, on the insurance side of thing, let me know!

Peace







Silver Stripey makes your Day!

when is it a good time to take a car from full coverage down to basic?

i've always been told that you should cut to basic when you think that the "average" amount of damage done to your car in an accident would be more than the cars worth, totalling the car.

thats one thats always bothered me. i've always gone by the rule: if i crash with basic, i DO NOT have the money to fix it myself or replace it. therefore, i should keep full coverage.



GO PATS!!!

I've heard that before too. I only carry liability on my Cavalier, it's not worth much anyway and if it gets wrecked or stolen, no biggie. I'm not out much. But I do keep full coverage on my Buick. It's a 98 but it only has about 60K miles on it, and runs like a champ and doesn't have any rust or anything like that. I intend to keep that car for a while. The Cavalier could blow up tonight and I could care less.

the cavalier is all i've got besides my wifes car. i only ask because going from full coverage to liability would cuz my insruance bill by more than half over a 10 month billing cycle. right now i'm paying like 1800 a year. it'd drop to below 800 a year with my cav on liability. (wife's car is just liability)




GO PATS!!!

Quote:

My expertise lies, with Mich and is law, and types of insurance, I can only tell you what I know for my region. Your Insurance in your area may indeed be like that...and I'm in no dispute with you on it.

im not trying to augure with you. just passing on what i know from my insurance rep.
i think your write up on the REAL insurance facts was a great idea.


http://registry.gmenthusiast.com/images/my2005cav/my%20car%20the%20bash.jpg

When to go to Liability covergae only is a personal preference, of the individual.

Type of vehicle, value, condition, etc. all come into play on it.

The choice and time is really yours, I've had insured with 1999 Grand Am's go to liability only, and I have had some with 81 Ford p/u's insist on caring full coverage on them...the choice is really yours.

A good rule on thumb is this, $2500 or less, go basic cov. only.










Silver Stripey makes your Day!

how does vandalizm effect your rates.... if your car is siting in a mallparking lot and someone keys it how do they go about fixing it and whats the issues thats gonna come of it. I had heard in the past that if your not in your car whe nit gets @!#$ up theres really nothing the insurance will to against you because you weren't there.

my input regarding liability or full coverage...

fully cover a vehicle if it's your only vehicle, and you cannot afford to replace it. if you have more than one, and it's your beater, then feel free to drop it down to liability.

example: i have full coverage on my RS, but if i get a beater car, it will have liability only. the RS is the more important vehicle, and i fully intend to keep that one covered.




R.I.P. Brian St.Germain

i <3 good info

Darkstars wrote:how does vandalizm effect your rates.... if your car is siting in a mallparking lot and someone keys it how do they go about fixing it and whats the issues thats gonna come of it. I had heard in the past that if your not in your car whe nit gets @!#$ up theres really nothing the insurance will to against you because you weren't there.

GO PATS!!!