I had a serious car accident today, and now what with my BRZ?

[soundman98]

i thought they based coverage on police records? i know my coverage was affected by the existence of speeding tickets in the past, with premiums dropping as they fell off my record from time. i thought accident history was the same-- if there's a police report for the incident, regardless of fault, it affects one's premium?

[p1l0t]

Originally Posted by soundman98

i thought they based coverage on police records? i know my coverage was affected by the existence of speeding tickets in the past, with premiums dropping as they fell off my record from time. i thought accident history was the same-- if there's a police report for the incident, regardless of fault, it affects one's premium?

Depends on country and state but in CT dmv records (publicly) are 3 years and insurance keeps accident records 5 years.

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[maslin]

Originally Posted by Adam_L

Just stop insurance coverage while your car is in the shop being worked on.

I would advise strongly against this. A friend cancelled his motorcycle insurance over winter, the state got the report and fined him heavily for driving an uninsured vehicle. Didn't matter that it was snowing and the bike never left the garage. He had a registered vehicle with no insurance, he payed for that one for years.

Originally Posted by Adam_L

Yes and no. Do you work for an insurance company? I called my AAA insurance about 2 weeks ago, found out that everyones vehicles insurance premiums went up about 4-5% this year (do to more claims being filed in 2018, on a whole).

Not involved in the insurance world at all. We do have an Emerald Membership with Progressive, whatever that entails.

Moving from Montana to Oregon our rates went down a few dollars, upgrading/adding cars seems to have little effect. 2014 Jeep Patriot valued under $10k to a new '17 Tacoma TRD Offroad added like $4 a month.

It's a scam, it's all a scam. But I've seen the flip side of "self insured", a friend will be making payments for the rest of her life. I'm around legitimately wealthy people's cars every day, they have insurance. I'll follow their lead.

[Rabidpug]

I work for an insurance company.

Auto insurance alone is not very profitable, a lot of companies break even or go red on auto.
Your traditional insurance company makes the bulk of its money on life insurance.

What you all choose to do with your finances is your business, but don’t tell people insurance is a scam, it’s a risk product, you trade uncertainty of certainty. It’s pretty simple, do you have $20k (or whatever your current value /loan is)you are willing to lose any day for the lifetime you own the car? If no, you choose to purchase insurance and pay a set known loss each month. Many people can’t afford to be hit financially for that much money, but they can afford a small loss each month. Also in today’s age, liability for bodily and property damage is a huge risk.

Seeing how long claims can take, having coverage to fall on while the other company drags on an investigation can be a life saver. Cars transport you to work and with it you lose out economically and potentially employment. Iv seen claims where people who were not at fault had to wait months for the other company to accept fault. A lot of that lost time, tow lot storage fees, lost wages are not owed.

[p1l0t]

Originally Posted by Rabidpug

I work for an insurance company.

Auto insurance alone is not very profitable, a lot of companies break even or go red on auto.
Your traditional insurance company makes the bulk of its money on life insurance.

What you all choose to do with your finances is your business, but don’t tell people insurance is a scam, it’s a risk product, you trade uncertainty of certainty. It’s pretty simple, do you have $20k (or whatever your current value /loan is)you are willing to lose any day for the lifetime you own the car? If no, you choose to purchase insurance and pay a set known loss each month. Many people can’t afford to be hit financially for that much money, but they can afford a small loss each month. Also in today’s age, liability for bodily and property damage is a huge risk.

Seeing how long claims can take, having coverage to fall on while the other company drags on an investigation can be a life saver. Cars transport you to work and with it you lose out economically and potentially employment. Iv seen claims where people who were not at fault had to wait months for the other company to accept fault. A lot of that lost time, tow lot storage fees, lost wages are not owed.

I would agree with except that every single I ever tried to get a substantial claim from the insurance company I had to call my lawyer to get it. They just don't pay out. Which makes it a scam.

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[atomicalex]

Originally Posted by maslin

I would advise strongly against this. A friend cancelled his motorcycle insurance over winter, the state got the report and fined him heavily for driving an uninsured vehicle. Didn't matter that it was snowing and the bike never left the garage. He had a registered vehicle with no insurance, he payed for that one for years.

Oh, he should have done storage coverage. It's like $100 for the whole winter and covers everything except driving/riding.

Not sure how this got confused but comprehensive and collision are two different packages.

Comprehensive is for theft and any damage not caused by driving. Someone hits you while parked, a tree falls on it, it self-imolates, etc. Most glass claims fall under comprehensive for some odd reason.

Collision is for damage due to events while driving.

Liability is for damage caused by the vehicle.

I carry full coverage on the BRZ because at this point, with five cars and two young drivers, it doesn't cost much more to carry all of it. The only car that doesn't have collision is the #RustyMR2, because rusty MR2. I think I even have collision on the B5 now because it's about $250 a year for it.

Self insurance is good if you have lots of free money. Otherwise... yikes.

[Rabidpug]

What ones? So I can avoid them lol! Some companies are better than others, also the nature of the claim and if your a policy holder or adverse party will typically have very different experiences.

They can be hard to get what you want out of depending on the demands and what legally is allowed in the claimed state.

[maslin]

Originally Posted by atomicalex

Oh, he should have done storage coverage. It's like $100 for the whole winter and covers everything except driving/riding

Absolutely, DMV said he could have paused his registration as well. We were in our early 20's at the time, live and learn.

Back to the OP... How much for those brakes? Complete package.

[Dave-ROR]

Originally Posted by maslin

I would advise strongly against this. A friend cancelled his motorcycle insurance over winter, the state got the report and fined him heavily for driving an uninsured vehicle. Didn't matter that it was snowing and the bike never left the garage. He had a registered vehicle with no insurance, he payed for that one for years.

They didn't notify him and ask for an explanation? In this situation Florida will send you a letter because Insurance was removed and your license will be suspended if you don't return the plate or provide insurance.

As long as you give them some policy in your name they are good with it.

Easier though to just call your insurance company and take it off the road for the winter. They don't notify the state then and the rate drops like a rock.

[Dave-ROR]

Originally Posted by Rabidpug

I work for an insurance company.

Auto insurance alone is not very profitable, a lot of companies break even or go red on auto.
Your traditional insurance company makes the bulk of its money on life insurance.

What you all choose to do with your finances is your business, but don’t tell people insurance is a scam, it’s a risk product, you trade uncertainty of certainty. It’s pretty simple, do you have $20k (or whatever your current value /loan is)you are willing to lose any day for the lifetime you own the car? If no, you choose to purchase insurance and pay a set known loss each month. Many people can’t afford to be hit financially for that much money, but they can afford a small loss each month. Also in today’s age, liability for bodily and property damage is a huge risk.

Seeing how long claims can take, having coverage to fall on while the other company drags on an investigation can be a life saver. Cars transport you to work and with it you lose out economically and potentially employment. Iv seen claims where people who were not at fault had to wait months for the other company to accept fault. A lot of that lost time, tow lot storage fees, lost wages are not owed.

I went through that and more when a drunk driver pulled out in front of my Suburban (which he ran a red light to do..). His insurance company felt that they were only 20% at fault after their investigation (which took about 1.5 months) because of where I hit him. They felt that even though he ran a red light and was arrested for a DUI that he still had the right of way because I hit his rear axle, which meant he was further into the intersection than I was. I explained during their interviews before that I would have hit his front end and passenger compartment if I didn't try to avoid him and hit the rear axle instead.. but that was all they needed for their "case".

I had my insurance company pay out for the totalled vehicle (which itself was a 6 month fight for value). A few months after that I got my deductible back because the other driver's insurance obviously lost their fight with my insurance company.

Without my own insurance to fall back on I would have had to take his insurer to court to get anything at all.

My value claim was made worse because of the vehicle. It was a 3/4 ton Suburban with the 496CI big block in it. Not the most common example. I gave them there only 4 selling in the country at the time on autotrader as references but they only wanted to pay me for a 1/2 ton 5.3l truck. Eventually they agreed to a 3/4 ton 6.0L truck which was still thousands under the 8.1L values. They eventually met half way. Their final offer was "we will do this or you can sue us". Thanks State Farm for the "wonderful" service!

[maslin]

Originally Posted by Dave-ROR

They didn't notify him and ask for an explanation? In this situation Florida will send you a letter because Insurance was removed and your license will be suspended if you don't return the plate or provide insurance.

As long as you give them some policy in your name they are good with it.

Easier though to just call your insurance company and take it off the road for the winter. They don't notify the state then and the rate drops like a rock.

This was 2008 or so. He had to pay the $500 uninsured motorist fee, and get special insurance coverage that proved he had coverage, some special code?

Falls under this:

"46.2-707. Operating uninsured motor vehicle without payment of fee;verification of insurance; false evidence of insurance.

Any person who owns an uninsured motor vehicle (i) licensed in the Commonwealth, (ii) subject to registration in the Commonwealth, or (iii)displaying temporary license plates provided for in 46.2-1558 who operates or permits the operation of that motor vehicle without first having paid to the Commissioner the uninsured motor vehicle fee required by 46.2-706, to be disposed of as provided by 46.2-710, shall be guilty of a Class 3 misdemeanor.

Any person who owns an uninsured motor vehicle (i) licensed in the Commonwealth, (ii) subject to registration in the Commonwealth, or (iii)displaying temporary license plates provided for in 46.2-1558, and who has not paid the uninsured motor vehicle fee required by 46.2-706, shall immediately surrender the vehicle's license plates to the Department. Any person who fails to immediately surrender his vehicle's license plates shall be guilty of a Class 3 misdemeanor."



It was ugly. For a stupid mistake.

[Tcoat]

I am starting to think that our Ontario no fault insurance system is looking better after every horror story I read here.
You get in an accident and your company pays out. It is then their problem to get what they can back from the person at fault (if there is one other than you) Either way every claim is fast and efficient. I do not know a single person here that ever had any problem at all with a claim.
When I got hit by the magical flying tie rod on the highway my whole dealings with the insurance company took about 10 minutes on the phone. I didn't even have deductible to pay since it was classed as comprehensive as the part hit me I didn't hit it.
When my wife rear ended a guy and almost totaled her RVR (Outlander Sport in the US) it took maybe 20 minutes on the phone. No fuss, no pain, no nothing just hand them a cheque for $500 to cover the deductible and pick up the car when it was fixed.

[p1l0t]

Originally Posted by Dave-ROR

I went through that and more when a drunk driver pulled out in front of my Suburban (which he ran a red light to do..). His insurance company felt that they were only 20% at fault after their investigation (which took about 1.5 months) because of where I hit him. They felt that even though he ran a red light and was arrested for a DUI that he still had the right of way because I hit his rear axle, which meant he was further into the intersection than I was. I explained during their interviews before that I would have hit his front end and passenger compartment if I didn't try to avoid him and hit the rear axle instead.. but that was all they needed for their "case".

I had my insurance company pay out for the totalled vehicle (which itself was a 6 month fight for value). A few months after that I got my deductible back because the other driver's insurance obviously lost their fight with my insurance company.

Without my own insurance to fall back on I would have had to take his insurer to court to get anything at all.

My value claim was made worse because of the vehicle. It was a 3/4 ton Suburban with the 496CI big block in it. Not the most common example. I gave them there only 4 selling in the country at the time on autotrader as references but they only wanted to pay me for a 1/2 ton 5.3l truck. Eventually they agreed to a 3/4 ton 6.0L truck which was still thousands under the 8.1L values. They eventually met half way. Their final offer was "we will do this or you can sue us". Thanks State Farm for the "wonderful" service!

This is why I say it's a scam. They take the money in fast, and then do everything in their power not to pay any out. First they deny fault even if it's obvious, and then they try to nickle and dime down the value of your claim. Most of the time you get next to nothing unless you call a lawyer. I know people who used to work in claims and they are told to deny for any reason they can make up. It's a straight up scam.

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[extrashaky]

Originally Posted by Dadhawk

And for those that say you can't say "auto insurance good" and "extended warranties bad", they are not the same thing. You have almost zero chance of recovering anything form an extended warranty. The risk you are "assigning" to the company is almost zero.

False. An extended warranty purchased to cover the period after the manufacturer's warranty is most definitely a type of insurance. You pay another entity to assume part or all of your risk of mechanical failure. That's the very definition of insurance regardless of the likelihood of making a claim.

And my chances of recovering from my extended warranty are 100% -- twice. First with an engine replacement, then again with an oil leak. The probability of an event that has already happened is always 100%.

What confuses people about extended warranties is the terminology. A warranty is a legal promise that a product will meet certain criteria, along with an agreement to provide relief if it doesn't. Subaru warranties that your engine will last 60K miles and agrees to fix it if it doesn't. There's no transfer of risk, because the risk was Subaru's from the beginning.

The extended "warranty" really isn't a warranty, because Subaru never intended to promise that the engine would make it to 100K miles. Instead, they're now agreeing to accept your risk that it won't last that long in exchange for premium. That transfer of risk from the consumer to the manufacturer in exchange for consideration makes it insurance.

I work in the real estate title insurance business. Our agents perform a search of your home's title to make sure there's no problem with it before they will issue you a title insurance policy. Because they simply won't issue the policy if there's a problem, the likelihood that you will ever need to make a claim is very small, statistically near zero. That doesn't make it a warranty. The likelihood of the insured event occurring, however small, doesn't prevent it from being insurance.