Insurance

[liquid]

Re: Insurance

I have mine through ING.

[NeonGTI]

Re: Insurance

Insurance for my 3 cars runs me just under $2,000 per year. I don't have collision on the Neon.

I get fisted a little harded on my VW because it is a GTI instead of a Jetta, but it's not a huge gap.

I don't do the 1 million liability because in my experience and the experience of others I know I would have to kill a bus full of nuns, retarded crippled children on their way to church on Christmas eve while being drunk and high on crystal meth and stood over the wreckage laughing to even approach 1 million.

I've known people who have lost body parts, had brain damage, or been unable to work in the career they had trained for for 5 years and none of them got more than $100,000.

Sticking with $200k is an extra $30 a month that does not go to insurance weasels.

[Kor]

Re: Insurance

Agreed I think I am at $500,000 not $1M for that same reason. In theory they can tell you these situations where you need million dollar coverage, but in all likelyhood this will never happen, its like buying insurance against being struck by lightening.

[kuhli]

Re: Insurance

It is true that in the event of a major accident the insurance co will just go at you till your liability insurance runs out then quit...but last time I checked(a while, and I may be remembering wrong) the additional liability wasn't much more money...

And I do remember that Meloche was a terrible deal when my risk profile was higher...under 25 with t/x.

[Kor]

Re: Insurance

It is true that in the event of a major accident the insurance co will just go at you till your liability insurance runs out then quit...but last time I checked(a while, and I may be remembering wrong) the additional liability wasn't much more money...

Monnex does stick it to you a bit when you have tickets, but you can kind of negotiate with them a bit if you've (for instance) gone a year without a ticket or taken a driving course. Its negotiable on the phone if you don't mind the fact that the person you are talking to is an ass and trying to screw you.

The additional liability is not much more money per month, but it adds up... if you reduce liability amount covered, increase deductable, and drop things like glass coverage, the sum can be enough over the year to make a reasonable savings. And as mentioned, its also just principle, I do not really like insurance companies, I have had too many bad experiences.

[FlyBoy]

Re: Insurance

I don't do the 1 million liability because in my experience and the experience of others I know I would have to kill a bus full of nuns, retarded crippled children on their way to church on Christmas eve while being drunk and high on crystal meth and stood over the wreckage laughing to even approach 1 million.

I've known people who have lost body parts, had brain damage, or been unable to work in the career they had trained for for 5 years and none of them got more than $100,000.

My friends brother got hit on his bicycle by a lady. He has permanent brain and spinal damage, but can still walk/talk/etc. (with a whole body sorta-limp, and the occasional seisure). Final payout (after about 10 years in court, accident was in the 80's) will be over $10 million (paid monthly). She had like $1 mil coverage, had to declare bankruptcy and left the country. The insurance company still has to pay.

Don't get me wrong, I'm not saying the average person should need to carry that kind of coverage, just that it can happen.

Btw - $114/mo with $500 deductable, collision, glass with Monnex. 24, male, 2 speeding tix, 2001 Jetta GLS 2.0L.

Was with Wawanesa on my last car, cheapest I could find at the time. Their broker is across from SAIT on 10 St.

[R_Ethug]

Re: Insurance

dude thats the worst story ever.. don't post stuff like that it makes me sad.

sad for your friends bro not the lady

[Smarty39]

Re: Insurance

IMO the $1M liability is well worth it....you'll never know what MIGHT happen. Take your eyes off the road for a split second and who knows what could happen....and with a good insurance company it's not THAT much more.

[Kor]

Re: Insurance

Down with insurance companies! Government insurance for all!

Those are my manitoba roots talking.

[liquid]

Re: Insurance

I have to agree with Smarty and Flyboy on this one. 1 Million doesn't buy you much in the way of coverage these days. I've heard more than my fair share of stories about people getting hit with 2+ Million settlements.

[NeonGTI]

Re: Insurance

As the hitter one would be better off making sure the other person is dead and taking the hit for manslaughter rather than have to cough up for the injury.

Dead is cheaper than maimed all the time.

I have to agree with Smarty and Flyboy on this one. 1 Million doesn't buy you much in the way of coverage these days. I've heard more than my fair share of stories about people getting hit with 2+ Million settlements.

[Kor]

Re: Insurance

As the hitter one would be better off making sure the other person is dead and taking the hit for manslaughter rather than have to cough up for the injury. Dead is cheaper than maimed all the time.

That is horrible, partly because I know its probably true.

If you get hit for 2M or 10M in damages, whats the difference if you have $200k or $500k or 1M in coverage? Eitehr way you're bankrupt.

It only helps you if you have exactly enough coverage to cover the bill.

[stefan]

Re: Insurance

I don't think i had the option of less then a million when i was insured in BC. Here, I have to pay extra on my insurance so that i am covered if an under-insured driver hits me.
My gf worked in a childcare centre, so we asked what she would need to transport kids. Insurance company (ICBC) suggested if they are not yours, 1 mil per kid is recommended. Of course, in BC, it really doesn't cost much to up your liability amount.

[shaunmic]

Re: Insurance

I upgraded to 1 million liability when we bought the dub, it only cost us an extra $6. For six months with full coverage I pay $436 @ AMA

[Kor]

Re: Insurance

I upgraded to 1 million liability when we bought the dub, it only cost us an extra $6. For six months with full coverage I pay $436 @ AMA

That is friggin' cheap.

I need to reevaluate my insurance in the new year I think.

Supposedly college grads also get a discount on top of other discounts but you need to ask. And I hate calling them. They always seem to have a lot of questions that I don't really want to answer. Like who's business is it how many bodies are in my trunk but mine?