04-26-2012, 12:41 PM | #183 | |
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04-26-2012, 02:21 PM | #184 | |
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I'm glad you understand what we're talking about. It's just odd when people try to explain insurance to me when they're not fully aware of what each coverage actually is. Dudes bought an insurance policy once in their lives and suddenly think they are experts, haha. But seeing how you're in NC, you guys at least have higher minimum liabilty limits (30/60/25) while requiring UMBI/UMPD (also 30/60/25), which is a good thing. So many people here in California (and basically any other state) try to skate by with just the minimums (15/30/5). Florida doesn't even require you to have bodily injury (as the absolute minimum legal requirement is just $10,000 in property damage liability and mandatory PIP coverage). |
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04-26-2012, 02:55 PM | #185 |
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I'm with State Farm and I got some quotes today. I also have my house insurance with them so I get a discount. Living in Northern KY. They dont have the BRZ in their database but they estimated for me and gave me some quotes on other new cars. Right now I'm in a 2004 Civic VP coupe and pay $430 every 6 months. They quoted me:
New Miata: $568 New WRX: $685 New TC: $714 New 370Z: $707 New Genesis 2.0T: $634 BRZ (estimate based on cost): $603 She ran a estimate based on cost for the 370z and it came up with around $670 a month. This makes sense since people speed more and get in more wrecks than average in a 370 which explains why the actual cost is $707. She said the rates are based on how much your car would cost to fix in the event of an accident, and how much damage they expect you would do to the other car. Aka, since SUVs are huge and weigh a ton they cost more because they do more damage. Sicne the BRZ is light and probably won't hurt what it runs into that much, this should bias the premium down. Since its a sports car and people will prob speed more often and get in more wrecks, this should bias the average up. I'm gonig to plan on around $610 per 6 months. I'm a 26 year old male with a few fender benders (<$1500 repairs) 3 years ago and a speeding ticket 1 year ago. |
04-26-2012, 03:40 PM | #186 |
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Doesn't medical include things that health insurance doesn't cover?
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04-26-2012, 03:51 PM | #187 | ||
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For example, not all chiropractic care is covered by health insurance, or not all chiropractors accept all health insurance companies. If you get into a car accident and don't need hospitalization but your back feels a bit sore, you will be happy that you had medical payments, because you can make a claim through your insurance company where they can use that coverage toward you seeing a chiropractor. Maybe your health insurance plan covers it, but maybe it doesn't. Medical payments actually contribute a very, very small amount to your insurance policy overall, unless you're with a non-standard company and/or have an accident or two on your driving record. |
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04-26-2012, 04:29 PM | #188 | |
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The same limits for the car and motorcycle are $35 for the car and $350 for the motorcycle, respectively. (I have $25k coverage for both because it's only a $200 difference in premiums compared to 5k per year) |
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04-26-2012, 04:35 PM | #189 | |
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I run 100/300/100 here (with 100/300 UM) and have been thinking about going to 250/500/100 (and 250/500 UM). Worth the change? State Farm guess for me was $35 higher per 6 month period than my GS-R, so $700/6 months or ~117 a month. My ITR is cheaper for some reason, I think they messed something up on that one. :shrug:
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04-26-2012, 04:36 PM | #190 |
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What state are you in? Coverages do vary from state to state, but I can't think of any coverages that are automatically included on an auto policy but not on a motorcycle policy. Coverages that are not specific to one type of policy (like the accessories coverage that is practically automatically included on most motorcycle policies that carry full coverage) are usually the same for casualty insurance policies (i.e. auto, motorcycle, off-road). But if you can think of specific examples, I'm all ears and I can double-check... it's hard to remember all the different rules and what not.
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04-26-2012, 04:47 PM | #191 | |
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In your case, it's all relative... if it's only a few more dollars a month, then sure, why not. But if you're open to options for higher coverage, look at a 500 CSL ($500,000 combined single limit), which is what I have on my auto policy. Rather than having specific limits for each per person/per occurrence/property damage liability claim, it lets the total liability limit be any combination as long as it doesn't exceed that amount. So for example, if you had 100/300/100 (or even 250/500/100) and you totaled a Lamborghini, that $100,000 property damage limit isn't going to be enough, unless it was a beat up Countach that you hit. Obviously those types of claims are less likely, but it's up to you. I live and work within a few miles of Ferrari, Lamborghini, Tesla, Porsche, etc. dealerships, so it's not exactly uncommon for me to see a car that is worth more than what I'll make collectively in the next few years. Since you're in North Carolina, double-check your policy... I know you said you had 100/300 UMBI limits, but make sure that you actually have 100/300 UMBI/UIMBI limits, not just UMBI. UM is uninsured motorist, UIM is underinsured motorist. If you don't have it already, just have your agent add it on, it shouldn't cost much more. Oddly in North Carolina, you have to have 50/100 or higher to get it, since if you have only 30/60, you can only get UMBI for whatever reason. You're in one of the few states where the two types of coverages are separated. |
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04-26-2012, 04:57 PM | #192 |
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I'm actually in Florida. Not sure about the UMBI/UIMBI there.
I may be switching the ITR to Haggerty soon since it's not a DD and qualifies for collector car insurance, I'll probably wait to make any changes until then..
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04-26-2012, 05:05 PM | #193 | |
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If you're in Florida, then I guess it makes more sense regarding certain coverages... PIP is required only on owner-operator auto policies but not on non-owner auto policies or motorcycle policies. Either way, PIP isn't available on motorcycle policies, so I'm still not sure about which coverage you were referring to from earlier. But more importantly, UM/UIM is part of the same coverage in Florida, so disregard that stuff I said earlier since it doesn't apply to you. Collector car policies like Haggerty (or AMIG, who we use for those policies) are generally pretty inexpensive as long as you don't have a bad driving history, but again it also depends on the vehicle. Just for kicks I did a collector car policy for myself with a McLaren F1... I think it was $12,000 annually or something crazy like that, haha. |
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04-26-2012, 05:19 PM | #194 | |
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lol yeah.. the last time I quoted the ITR with Haggerty it was ~550/yr IIRC with a 15k agreed value.
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04-26-2012, 05:24 PM | #195 |
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If it were me, I'd go with a higher agreed value, if that's what they're using. But also, there are a few companies where on your regular auto policy, you can insure a certain car as a collector car, so you won't need multiple policies.
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04-26-2012, 05:41 PM | #196 |
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Do you know which companies do that? Currently using State Farm, I can check with them but if you have a list it'd be easier than calling the other XX insurance companies around
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