what are you insurence rates at?

iVillage Member
Registered: 01-13-2005
what are you insurence rates at?
7
Tue, 03-10-2009 - 12:37pm

Hi Girls again ( I know I ask a lot of questions , sorry)

I wanted to know what everyone else insurance looked like? What I mean is do you have a $500 deductible or a 1000. Do you carry 15,000/ 30,000, higher or lower? I really don't know that much about insurance and know this question is up for a lot of debate, but I don't want to carry the cheapest where I could get sued. I also don't want to carry some crazy pricey insurance either. Anyone have any guidelines?

Erin

Erin
Avatar for indexlady
iVillage Member
Registered: 03-29-2003
Tue, 03-10-2009 - 1:01pm

What kind of insurance? Auto, home, other?


iVillage Member
Registered: 03-11-2007
Tue, 03-10-2009 - 1:20pm

I can tell you from experience you both with home and car.

iVillage Member
Registered: 01-13-2005
Tue, 03-10-2009 - 2:35pm

It is for Auto insurance. I have 2 cars. 1 is fully paid for Dh drives it and it is a 2001. Dh got in an accident last year so he has 5 pt on his record. I have none.
The other car is a 2004 mini van that I drive. Keep in mind, from Dec 2007 to March 2009 I drove less than 12k miles.

The insurance for the van is 411 a year and the car 754. Mostly becuase DH car was totaled.

Thanks for your help

Erin

Erin
Avatar for indexlady
iVillage Member
Registered: 03-29-2003
Tue, 03-10-2009 - 7:02pm

Vehicles:


2003 Pontiac Montana 20,000 miles per year


2004 Saturn Ion 1,000 miles per year


Deductible: $100


Coverage: 100,000/300,000 and

iVillage Member
Registered: 10-12-1998
Wed, 03-11-2009 - 1:03pm

Erin, I got to thinking very hard about auto insurance a few months ago when the economy started to seem strained. My thinking was that this kind of economy breeds opportunists and you want to make sure you're protected against unscrupulous people. I'd seen an article about people being able to sue you for future earnings- I'm not sure how common that is (seems you'd have to do something really negligent), but that's not something I ever want to worry about.

Our cars are old so we only carry liability. Our agent told us that if you are a homeowner you should have nothing less than 100,000/300,000/100,000. There are calculators online that can help you determine what your liability coverage should be based on your current assets (you might need 250,000/500,000/250,000). My Dh got a little perturbed with me on the subject of increasing liability, apparently he took it to mean that I thought he was a bad driver who was going to get us sued. Our insurance agent gave us the great example of you back over a fire hydrant that you didn't see and now you need to pay for those damages- no bad drivers, just a costly accident.

The best piece of advice I got on the subject was from an old book by the Beardstown ladies. Their advice was to buy the max amount of liability coverage you can afford, and skimp on other coverage if you feel you can absorb the loss. Honestly, I was surprised at how little the annual increase was for the amount of added liability coverage (I'm in CA too); I had anticipated a huge jump and it was not very much at all. The peace of mind knowing we are well protected is worth every penny.

Vickie

Avatar for kathy_s14255
iVillage Member
Registered: 03-27-2003
Wed, 03-11-2009 - 1:38pm

hmmm Vickie, thanks for the info...I wonder if we should increase our coverage.

We have 100,000/300,000 bodily injury liability each person/each occurrence and 50,000 property damage. Our deductible is $1000.

Something to check into...thanks!

Updated: increased coverage to 250k/500k and 250k, and premium only increased $15 for 6 months...definitely worth the peace of mind.




Edited 3/11/2009 3:03 pm ET by kathy_s14255
iVillage Member
Registered: 08-19-2007
Thu, 03-12-2009 - 9:01pm
Keep in mind some lein holders REQUIRE a certain deductible. We have a lein on a 05 minivan and we can't have anything over 500.00 deductible or we break our contract. We have only liablity on DH junker (paid for) we have 1000.00 deductible on our jeep (paid for) and we have the 500.00 deductible on the van. Pretty much the rule of thumb is if your vechicle is worth less then 2k (to your ins co) then you only need carry liablity.