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Duckman2008 posted:Makes sense, so covers most legal stuff, but not medical bills.
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Aug 3, 2021 13:56
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Duckman2008 posted:Makes sense, so covers most legal stuff, but not medical bills. No, it just doesn't cover YOUR medical bills. Duckman2008 posted:So, would this be a reason to get say, a lower car insurance bill and just have umbrella cover the difference ? There are auto policy minimums that vary by insurer. Most people don't have enough auto coverage to begin with, so it's overwhelmingly likely you will have to add to your auto coverage to qualify.
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Aug 3, 2021 14:13
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spf3million posted:State Farm made me up my auto insurance to the max before adding on the umbrella to get the rest of the way to $1M. I ran the numbers and the cost was identical, just the way they explained it. What are you maxed at? In CA I had 500/500/500 and lowered it to to whatever I'm at now (250/500/100 I think?) which is the policy minimum for the umbrella to attach.
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Aug 3, 2021 14:16
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Motronic posted:No, it just doesn't cover YOUR medical bills. Ok this makes sense. Something to keep in mind for the future.
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Aug 3, 2021 14:38
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H110Hawk posted:What are you maxed at? In CA I had 500/500/500 and lowered it to to whatever I'm at now (250/500/100 I think?) which is the policy minimum for the umbrella to attach.
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Aug 3, 2021 15:57
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H110Hawk posted:What are you maxed at? In CA I had 500/500/500 and lowered it to to whatever I'm at now (250/500/100 I think?) which is the policy minimum for the umbrella to attach. Is this like $500/250 thousand? I appreciate this is what you're all discussing but wow that is incredibly low. I had a check and my car is 100m chf ($110m) cover. 
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Aug 3, 2021 16:56
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knox_harrington posted:Is this like $500/250 thousand? I appreciate this is what you're all discussing but wow that is incredibly low. I had a check and my car is 100m chf ($110m) cover. Yes, those are in hundreds of thousands USD. Longer reply will wait but tl;dr the USA is insane.
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Aug 3, 2021 17:23
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Motronic posted:No, it just doesn't cover YOUR medical bills. This may vary by state, but uninsured/underinsured motorist bodily injury covers your medical bills if someone who hits you isn't properly insured.
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Aug 3, 2021 17:44
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Inept posted:This may vary by state, but uninsured/underinsured motorist bodily injury covers your medical bills if someone who hits you isn't properly insured. We're talking about umbrella policies, not the base auto policy. And if you have health insurance it doesn't matter to you: that's just a subrogation exercise between insurance companies after the fact.
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Aug 3, 2021 18:17
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Fuzzie Dunlop posted:Just because it hasn't been mentioned yet as a benefit, the umbrella policies are good to get if you have teenage drivers in the house. When your kids become drivers, your umbrella insurance premium goes up a lot. Still worth getting, but the amount becomes less trivial.
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Aug 3, 2021 18:38
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Good news: my wife has a new job that has a 401k match. Bad news: it’s managed by Edward jones. Dude was nice enough, but it was somewhat funny, he was like “yeah you can do vanguard funds and we can help there, there’s a 1% management fee kind of however you look at it though.” Worth it for the match, but probably only the match unfortunately.
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Aug 3, 2021 18:49
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Duckman2008 posted:Good news: my wife has a new job that has a 401k match. If you have money beyond IRA+Her401kMatch+Your401kMax then it's probably still worth it, if usurious. I would complain.
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Aug 3, 2021 19:02
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Get the match no matter what. It takes a steeper fee than 1% to outweigh doubling your initial investment. Especially if this isn’t a forever job and can later be rolled into some better later. Do check what the vesting time is though and see if/when you actually get to keep the match.
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Aug 3, 2021 19:10
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H110Hawk posted:If you have money beyond IRA+Her401kMatch+Your401kMax then it's probably still worth it, if usurious. I would complain. Oh totally. We’re gonna do the match, but leave it at that. It’s a small company, not my job, and the company’s been great for her so far, so honestly it’s not worth complaining. I take care of all the finance stuff, so I don’t think she would be comfortable voicing a concern on it , and I don’t blame her. Basically, not worth rocking the boat in this case. Other cases certainly could be.
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Aug 3, 2021 19:18
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Now you all have me thinking about umbrella…. My current situation:
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Aug 3, 2021 20:38
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knox_harrington posted:Is this like $500/250 thousand? I appreciate this is what you're all discussing but wow that is incredibly low. I had a check and my car is 100m chf ($110m) cover. I mean, paying 400 to get 110M coverage is pretty wacky too and implies there is some other factor that makes paying out that much incredibly unlikely, like capped lawsuit payouts.
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Aug 4, 2021 13:01
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$110,000,000 in coverage? Good lord! Are you sure that "M" isn't "thousand"?
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Aug 4, 2021 13:50
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Thanks to this discussion I finally got off my butt and bought the umbrella policy.
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Aug 4, 2021 13:59
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Apparently the most expensive car crash of all time resulted in $4m in damages, so $110 million is slightly overkill. Makes me feel like that number is marketing more than anything.
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Aug 4, 2021 14:17
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I thought the idea was that insurance companies typically settle with each other, but they have the lawyer power to settle and that's what you're hoping to buy with your umbrella plan.
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Aug 4, 2021 14:41
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ranbo das posted:Apparently the most expensive car crash of all time resulted in $4m in damages, so $110 million is slightly overkill. Makes me feel like that number is marketing more than anything. Other countries do liability/torts completely differently from how the USA does it.
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Aug 4, 2021 15:18
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smackfu posted:I mean, paying 400 to get 110M coverage is pretty wacky too and implies there is some other factor that makes paying out that much incredibly unlikely, like capped lawsuit payouts. Pretty sure there are no caps to legal claims but it essentially means there is no feasible ceiling. As I understand it 5M is the legal minimum but all policies that I've seen are for 100M CHF. I just looked at the UK insurance certificates I could find and the liability there 10 years ago was £20M https://www.swissre.com/dam/jcr:bb575e19-de0f-45e4-9d2a-286e72949ecf/2018_bodily_injury_landscape_switzerland.pdf the stats in there for tetraplegia claims are pretty  not that I would necessarily believe an insurer.Another aspect is that everyone here has to have non-vehicle accident insurance which is paid by your employer. So if you hit someone else and they can't work their pay is covered by their own accident insurance. Like many things here it's a bit odd but just how the system is set up. Obviously it wouldn't work if it wasn't mandatory. Anyway that is probably enough about swiss car insurance
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Aug 4, 2021 15:36
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Question while we're on insurance chat. We have had our auto, home, and umbrella policies with State Farm for the past 7 years. Their premiums have steadily gone up and I would like to shop around for the whole package elsewhere. What's the best way to do this? Contact individual agents for the various insurers? Are there brokers that can do all the quoting and comparing across multiple insurers for me?
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Aug 4, 2021 16:50
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ChineseBuffet posted:Question while we're on insurance chat. We have had our auto, home, and umbrella policies with State Farm for the past 7 years. Their premiums have steadily gone up and I would like to shop around for the whole package elsewhere. What's the best way to do this? Contact individual agents for the various insurers? Are there brokers that can do all the quoting and comparing across multiple insurers for me? I use a broker, he checks 30 different companies or so. I think it is usually the way to go.
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Aug 4, 2021 19:56
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spwrozek posted:I use a broker, he checks 30 different companies or so. I think it is usually the way to go. How much truth is there to smaller insurance companies (say, for auto) being a PITA to reach in the event of an accident, being bad with claims, etc, versus the big national ones?
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Aug 4, 2021 20:09
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Residency Evil posted:How much truth is there to smaller insurance companies (say, for auto) being a PITA to reach in the event of an accident, being bad with claims, etc, versus the big national ones? Not sure. I have had one claim in 20 years and it was a hit and run that totaled the car (thankfully my GF was ok). We are with Safeco which is a sub of Liberty. They looked at the uploaded photos, said probs totaled, sent tow truck, we had a VERY fair check in less than a week.
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Aug 4, 2021 20:28
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Thanks to this thread I am the proud holder of $2M of umbrella coverage for $200/yr. Feels good man.
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Aug 4, 2021 21:46
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Smashing Link posted:Thanks to this thread I am the proud holder of $2M of umbrella coverage for $200/yr. Feels good man. Who'd you go with?
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Aug 4, 2021 21:52
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Residency Evil posted:Who'd you go with? USAA.
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Aug 4, 2021 21:56
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Smashing Link posted:Thanks to this thread I am the proud holder of $2M of umbrella coverage for $200/yr. Feels good man. Brb gonna engineer a way to get you to rear end my car in traffic and sue you for $1.9mm /preemptively orders a neckbrace online
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Aug 4, 2021 21:59
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Smashing Link posted:Thanks to this thread I am the proud holder of $2M of umbrella coverage for $200/yr. Feels good man. Does the thread get a commission ?
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Aug 4, 2021 22:08
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You have my sincere thanks.
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Aug 4, 2021 22:26
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I just discovered the personal liability coverage of my home owner's insurance. Saved me a couple grand when my kid hit a neighbor's car with his bike and busted up his taillight. There wasn't even a deductible, as it didn't happen on my property. The limit is pretty low, but it was refreshing to be able to hand the problem over to someone else after my neighbor came back with a higher than expected estimate for repairs. Now the insurance company can argue with him about repainting the back part of his car if they want, not my problem anymore. The moral of the story is to read your policy and know what benefits you're entitled to, because you know the insurance company will take advantage of any limitations in there.
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Aug 4, 2021 22:34
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Smashing Link posted:USAA. Jealous. 
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Aug 4, 2021 22:34
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I received my $600 Gold State stimulus check and immediately dumped it all into VTSAX. Am I doing this right
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Aug 5, 2021 07:37
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Aug 6, 2021 06:55
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I Like Jell-O posted:I just discovered the personal liability coverage of my home owner's insurance. Saved me a couple grand when my kid hit a neighbor's car with his bike and busted up his taillight. There wasn't even a deductible, as it didn't happen on my property. The limit is pretty low, but it was refreshing to be able to hand the problem over to someone else after my neighbor came back with a higher than expected estimate for repairs. Now the insurance company can argue with him about repainting the back part of his car if they want, not my problem anymore. The moral of the story is to read your policy and know what benefits you're entitled to, because you know the insurance company will take advantage of any limitations in there. Agreed, dog decided to be terrible and nip the HVAC repair person a few months back. Got a terribly worded letter (misspelled my name 3 times, almost threw it out assuming it was a scam until I realized the date of the incident matched up) about how I needed to call and pay for random stuff associated with it. Just handed it off to my homeowners insurance and it just went away, no muss no fuss.
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Aug 7, 2021 20:50
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Grand Fromage posted:There are inflation protected investments like VIPSX. You don't get much of a return off it, but at minimum your principal increases enough to keep pace with inflation so you lose no real value. I don't know if there's a time period you have to keep money in there, but that may be viable for what you're looking to do. I can't find anything about a minimum investment period on the Vanguard web site, but maybe it's buried somewhere. Other than that possibility, and the 0.20% expense ratio, are there any other major downsides and/or reasons to go with something like a TIPS or I-bond from Treasury.gov instead? I've been trying to determine what to do with the money presently in my HYSA which is earning horrifyingly minimal interest. Sand Monster fucked around with this message at 17:26 on Aug 10, 2021 |
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Aug 10, 2021 16:51
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I've tried to get two different banks to give me a signature validation seal for this dumb form 5444 that treasury direct is demanding and both of them have said 'uh, we don't know what the hell that is we can't help you' So I want to know about VIPSX as well.
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Aug 10, 2021 17:17
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Happiness Commando posted:I've tried to get two different banks to give me a signature validation seal for this dumb form 5444 that treasury direct is demanding and both of them have said 'uh, we don't know what the hell that is we can't help you' You want a Medallion Signature, try asking for that specifically, a teller isn’t gonna know poo poo about it most likely but a branch manager should have one.
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Aug 10, 2021 18:00
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