Insurance Question(s)

[johnmyster]

Everyone saying I'm wrong about how insurance works, when the information is coming directly from an insurance company

Likewise, my experience comes from dealing with my insurances after an actual accident.

 

[CKN]

Oh jeez, you're getting those OPINIONS (Yes, thats what they are!) from a... wait for it... AUTO INSURANCE WEBSITE. Of course they want to you to purchase redundant insurance, its like printing free money!

Guys. We have to do better.

You know what other insurance we involuntarily pay for? Unemployment insurance

Why on earth am I insuring other people in my car? They have their own insurance!

If we go down that rabbit hole, we're probably insuring a single person 6 times! Jesus.

Everyone has told you-multiple times-UM coverage is more comprehensive coverage-and you refuse to listen-it's not opinion-it's fact. The UM coverage isn't for "nothing"-that's already been shown to you. And you discredit what it covers because it happens to be from an Insurance Companies website. It's usually a cheap line item on a policy. Good luck dude should you wish you ever had it when the time comes.

I take it you have never been unemployed and used the benefits of unemployment insurance?

 

[pbm]

Anyone have thoughts?

Last year I switched to GEICO after years with Allstate. GEICO gave me much better prices for the same coverage....BUT...at the first 6 month renewal they jacked those prices up substantially. The other issue with GEICO is they farm out to other carriers..ie: my homeowners is with Traveler's even though I signed up with GEICO. With Allstate I had all my policies with Allstate.
If GEICO jumps up next time I renew I'll go elsewhere.

 

[Pablo]

I just went through the whole insurance 2X requote because basically the broker I was using was useless

I switched to Roamly and the process started really well. I desired to double my my umbrella coverage at the same time.

Got good solid quotes then nothing

 

[Vegoose]

Make sure you're not double paying for coverage

I have Comp & Collision on my vehicles, and when I looked at the cost breakdown, under/uninsured coverage was a substantial cost

But guess what, if someone hits me with no insurance, I can just claim against the Comp/Collision anyway! The ONLY thing that under/uninsured coverage gets you is a low, or sometimes no, deductible.

The cost difference of the policy made up the deductible cost in no time after I ditched the coverage

This is a misunderstanding of what UM/UIM covers. In most states, it’s bodily injury coverage for you and members of your household, depending on the policy definition of an “insured”. The coverage is not specific to your cars, or even that are in a vehicle. You (or your spouse, kids) could be in a rental car, riding in someone else’s car, struck while riding a bike, or walking the dog. If the at-fault driver was uninsured or underinsured, coverage applies. Keep in mind this is “bodily injury” coverage and pays for far more than just medical expenses. Things like lost wages, rehabilitation, compensatory pain and suffering are included.

In some areas you can purchase uninsured motorist physical damage, but usually only for smaller amounts, say $10k. I agree this specific coverage could be redundant if you also carry collision.

I would argue this is one of the most important parts of an auto insurance policy. It’s not terribly expensive. Buy it equal to your liability limits. And, if you have an umbrella policy, there may be an option to purchase excess UM/UIM of $1M or higher.

 

[HowAboutThis]

This is a misunderstanding of what UM/UIM covers. In most states, it’s bodily injury coverage for you and members of your household, depending on the policy definition of an “insured”. The coverage is not specific to your cars, or even that are in a vehicle. You (or your spouse, kids) could be in a rental car, riding in someone else’s car, struck while riding a bike, or walking the dog. If the at-fault driver was uninsured or underinsured, coverage applies. Keep in mind this is “bodily injury” coverage and pays for far more than just medical expenses. Things like lost wages, rehabilitation, compensatory pain and suffering are included.

In some areas you can purchase uninsured motorist physical damage, but usually only for smaller amounts, say $10k. I agree this specific coverage could be redundant if you also carry collision.

I would argue this is one of the most important parts of an auto insurance policy. It’s not terribly expensive. Buy it equal to your liability limits. And, if you have an umbrella policy, there may be an option to purchase excess UM/UIM of $1M or higher.

Wasn't aware UM/UIM covered us in vehicles others were driving, walking, biking, etc. Interesting. Maybe that's why it jumped after we had a couple kids, along with the normal inflation happening.