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Auto Policy: What is needed vs fluff

Posted by on Jun. 22, 2013 at 2:03 PM
  • 8 Replies

I have to cut corners to get my living expenditures below my current income and to not rely on child support to live since my ex hasn't been paying me anything.

I want to get things below so when he does pay that's extra to our household but we're not going hungry if he's not.

I have an auto loan with only 11 more months so full coverage is still required but I'm not even sure what that means.

Now that I'm single, I don't really understand what I need since my ex took care of all that stuff.

Total Vehicle Premium:  (6mo)   $675.26
Bodily Injury Liability
Current Limit: $50,000/$100,000

Property Damage Liability
Current Limit: $50,000

Medical Payments
Current Limit: $10,000
Uninsured Motorist Bodily Injury
Current Limit: $50,000/$100,000   

Underinsured Motorist
Current Limit: $50,000/$100,000 
Comprehensive Deductible 
 $68.90 $250 Ded.        

Collision Deductible
$242.01 $250 Ded.
Emergency Road Service


Rental Reimbursement
$21.27 $30/Day, $900Max        

Is this a good price? Do I need all this? Am I overpaying? What can I cut?

by on Jun. 22, 2013 at 2:03 PM
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by on Jun. 22, 2013 at 4:03 PM

Raise your deductible to $500.

The cost is also based on your car and your age and whether you've got any traffic violations.

As of 6/14, I'm paying, for a 1999 Lexus RX300 (SUV - think expensive), $500 deductible for collision and $100 deductible for comp, I'm not a young driver (under 25) and no traffic violations:

Bodily injury liability - $100K per person/$300K per occurrence - $42.61

Property damage liability - $100K per occurrence - $3

Personal Injury protection - $233.03

Property Protection - $1M per occurrence - $10.18

uninsured/underinsured motorist ($100K/$300K) - $6.74

Comprehensive - $117.62

Collision - $169.20

Emergency Road service (automatically included, no extra fee)

limited property damage liability (no idea what this is) - $1.92

Total:  $584.30

It's pretty comparable to what you're paying.  We don't have Rental reimbursement because we have other cars to use in case this one is damaged/in the shop

by Member on Jun. 22, 2013 at 4:12 PM
We pay $822 for 6 months for 2 cars: a 2012 town & country and 2010 Malibu.

I'm not completely sure of the breakdown (in the car traveling), but we have a $500 deductible, we also have roadside assistance, rental reimbursement for 30 days. We also bundle with our homeowners so them together saves us in both places.
by on Jun. 22, 2013 at 6:45 PM

Thank you for your responses.

Coverage is for a 2003 Infinit G35, 39 year old, bad credit score due to bankruptcy from divorce. Speeding ticket from 2010. I've never had an accident (knock on wood).

Thank you for sharing your breakdown. It's really hard for me to understand the ratios and which way to go.

by on Jun. 28, 2013 at 2:56 PM

 I suggest that you also shop around for your insurance. When we first got married my dh wanted me to go with his insurance company which he thought was great until we compared it to the one I've used for the last 30 years. It was a lot less. Every once in awhile I'll shop around and if I find one with a cheaper rate I simply go to my agent and discuss it with him. 99% of the time it will get matched with the other company. Our house is also bundled in. We've also had some claims in the last few years but none of them were our fault and it hasn't went up. We've had to replace a roof, siding, roof on barn, etc due to a storm last July. My husband also totaled his truck on a sheet of ice and his other truck caught on fire driving down the road. Nice thing is that after 3 years they start dropping off for us. Check around and see what everyone can do. I like having a personal agent as I think they look out for you more.

by Member on Jun. 29, 2013 at 11:45 AM

If you are a Costco member, they offer really good insurance prices esp. if you bundle. 2 cars full coverage @ $88 a month. Have our homeowners insurance thru there and just replaced our roof due to weather damage with no problems and no increase in price.

by Member on Jun. 29, 2013 at 11:48 AM
My DH & his stupid traffic violations!! We pay $1100 every 6 months for 3 vehicles. They all fall off this summer, so I'm hopeful when our policy renews in the fall that our premium will go down.
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by New Member on Jun. 30, 2013 at 12:36 AM
I wish I could help but I barely understand mine!

I know I pay $89 a month for full coverage on a 2008 Chevy Cobalt. Im a 27 year old driver and I have a perfect driving record and have been with State Farm for over 10 years.
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by Member on Jun. 30, 2013 at 4:32 PM

Here is the breakdown for my 2004 Toyota Sienna.  I am 30, married, and female with no traffic viloations for a while.  Total 6 month premium is 395.39

Bodily Injury liability 100,000/300,000 and Property Damage 100,000  168.30

Medical Pmts 5,000 19.78

100 deductible comprehensive 46.10

500 deductible collision 121.05

emergency rd service (which we don't need but we just seem to keep it since it's 1.60)

rental 50/day 1200 max 18.57

unins motor vehicle bodily injury 100,000/300,000 19.99

So, while I don't fully understand it all, it seems yours is a bit high.  Your road service is $10 more than mine, which seems like an awful lot since mines a dollar.  Your collision deductible is twice mine, but my deductible is $500 instead of $250.  I think your state also plays a part in the cost.  I have State Farm, I also get discounts for having my life insurance with them, and having DH with me so we have a multi car discount.  It says that my discounts add up to 227.88, that's multiline, mulit car, vehicle safety and safe driver discounts.

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