Anyone think of dropping coverage other than liability due to staying home these days (although usually comp is not unreasonable). I saw the news how the hands people are giving people money back, and I though yeehaw, oh wait, I switched to Jake. Didn't hear he was doing anything...

When I did have the hand people it was very easy to drop coverage, and add it, through email.

Anyone know this answer? When I was about 19, I got my first used car (11 years old), and I also bought a brand new car. Both cars were sorta short lived experiences. But back then, we had to bring the car somewhere to have it inspected, due to wanting collision/comp, even a new car. Why was that practice abandoned? My point is on my garage queen I could easily drop coverage, put it back to full coverage, without visual inspection....

 

No. Car insurance is such a small cost overall, reducing coverage short term isn't something worth worrying about IMHO.

 

if you financed the car, you typically need more than liability as a condition for the loan.

 

For you and me (and others like us), yes, because we are older, past the highest-risk ages, are careful drivers, and have good records. But that is not necessarily the case with many other drivers.....they are paying more out of their pockets then we do.

 

I can't remember exactly what our rates our but we have 4 cars and 2 drivers and I know each car with full coverage is just under $400 per 6 mos. one is liability only. Even if it's $2500/yr, we're more likely from different socio economic groups. $200 to me is something, but of course I'd rather have it be automatic, not have to call. Oddly in our house the 2006 LS430 costs the most to insure, more than the 2007 BMW and 2011 GM. The 2011 has the highest wholesale, the BMW I think is hovering around 10k, and the LS430 is like I won't say it's a lexus forum haha

edit kbb says $6800. but carfax will say 3750 lol probably 6800 is something that should have just liability.

 

$200 is $200, but how much hassle is it worth? Is it really worth calling and talking to someone, remembering to put it back, taking risk of something happening when you are under-insured?

 

This. Plus there are other potential source of damage...hail, tornado, etc. I agree that savings is not worth the hassle.

 

I admit if I were walking down the street and $200 were on the ground, I would bend over to pick it up. $200, if it took me away from work for 20 min., no. $400? Yes. The reason is insurance is basically an unpleasant thing. I noticed my name had a middle initial that wasn't correct and it was a PITA to get it fixed. But I felt it was important--say they deny a claim or a check can't be paid. I hear you. Now if Jake simply decided to issue a credit like the hands guys that would be cool. At the same time, for cars that don't go anywhere, yes, you can still have comp in case the wind blows a basketball pole onto the vehicle etc. But you don't need collision at all. Comp is actually not that expensive, collision and liability are.

 

Who wouldn't bend over to pick up $200? lol. I bend over to pick up change.

And I have the "hands guys", the credit is not automatic, and its not for waiving collision coverage, its for reductions in miles driven.

 

As we all know wording is always vague, and looks like the Liberty guys climbed on board the give some back train (love that commercial where the silhouette guy jumps into the Hudson). BUT, it seems they are crediting 15% of April and May, that might actually mean 15% of $200, not $200 times 2. So would I take $30? Of course, but if automatic, not for being hours on the phone lol

 

Correct. You can’t expect them to waive the cost of insurance...

 

looks like Jake will decide at the end of the week.....I will admit I started with them last August and saved like $900+ per year (annually) over the hands people. What was another bennie was Jake allowed me to pay monthly, no fee, AND by credit card which I earn 2% with. Then, after my first 6 mo. period, the premium went down (not a ton but about $9/mo.--the hands raised it every 6 mos.).

https://www.wglt.org/post/less-drivi...lders#stream/0

 

car insurance has been on my mind.

How much are you guys paying? how many cars do you guys have insured?

I'm with AAA, low mileage, great driving record, LA suburbs, with worthless beater lexuses '03 and '07 that are worth less than $10k combined, and I still pay $1400 a year.

I read an LA Times article today, and some dude with 2 new cars.... an audi and VW.... is only paying $2000 a year for both with AAA.

Reducing the premium sounds enticing, even if I can afford it, we should all be looking to cut costs like big rich companies cut costs.

I'm going to try to get some pricematching, because I ain't taking this chit lying down.

 

Right. What's the 2-month premium for comprehensive? Better hope a tree doesn't fall on that parked car....

 

Agreed. And tree-trunks are only one of a whole bunch of things that can hit or damage your vehicle. There's acid rain, hail from storms, kids on bikes/skateboards/roller-skates, careless neighbors dragging things out to the dumpsters, stones on the road that can fly up and chip or damage windshields, teens with nothing better to do than key or vandalize, ripe nuts that drop off of trees (large walnuts can be especially bad)....the list goes on and on.

Even garage-kept vehicles, though usually of lesser-risk than those parked out in the open, are occasionally damaged. The risk to the latest-generation of vehicles is even worse, because of the ultra-thin sheet metal they use nowadays that will ding or dent if you so much as blow on it LOL.