Ask me about insurance!

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Ask me about insurance!

SiGmA_X: May 3, 2004; SiGmA_X

Jastiger posted:

Well, to be honest the best way to handle this is to have you both on ONE policy. You'll more than likely save money and it makes this question really easy to answer:)

However, I know things aren't always like that or one of you has a worse record than the other.

To tell you the truth, if you had an accident and you were not listed on her policy the insurance companies would really decide how they want to handle this. More than likely her policy will pay for the car, yours would cover your liability.

Then they would probably cancel one or both of you. This is VERY BAD. This makes getting insurance in the future very expensive and a huge headache. Do not let this happen.

The reason it's so sticky like this is because insurance companies consider any licensed driver in the household a driver. It's highly unusual for two drivers to be in a home together and not drive one anothers car. Room mates are an example of this and you can exclude people in your household because room mates will probably not be driving each others' cars. So in essence the insurance company would see that indeed she is having you drive her car without them properly rating for the extra driver. Basically they would consider it misrepresentation and can do what they want when the time comes.

Now, family members or occasional drivers are usually OK. Mom comes into town and drives the car, that is no problem. She has her own insurance and doesn't live there and these things happen. When it comes to people living in the same household you need to either get them Named on the policy or excluded as covered under their own insurance.

So, my professional recommendation? Get one policy and put both of you on there. Multi driver, multi car discounts as well as one policy should save you money. If one of you has a worse record than the other, then you can name them on your policy, but it will still have an impact. Or you can just never ever drive the other persons vehicle.

Sorry it's not all great news:(

Jastiger posted:

Well, to be honest the best way to handle this is to have you both on ONE policy. You'll more than likely save money and it makes this question really easy to answer:)

However, I know things aren't always like that or one of you has a worse record than the other.

To tell you the truth, if you had an accident and you were not listed on her policy the insurance companies would really decide how they want to handle this. More than likely her policy will pay for the car, yours would cover your liability.

Then they would probably cancel one or both of you. This is VERY BAD. This makes getting insurance in the future very expensive and a huge headache. Do not let this happen.

The reason it's so sticky like this is because insurance companies consider any licensed driver in the household a driver. It's highly unusual for two drivers to be in a home together and not drive one anothers car. Room mates are an example of this and you can exclude people in your household because room mates will probably not be driving each others' cars. So in essence the insurance company would see that indeed she is having you drive her car without them properly rating for the extra driver. Basically they would consider it misrepresentation and can do what they want when the time comes.

Now, family members or occasional drivers are usually OK. Mom comes into town and drives the car, that is no problem. She has her own insurance and doesn't live there and these things happen. When it comes to people living in the same household you need to either get them Named on the policy or excluded as covered under their own insurance.

So, my professional recommendation? Get one policy and put both of you on there. Multi driver, multi car discounts as well as one policy should save you money. If one of you has a worse record than the other, then you can name them on your policy, but it will still have an impact. Or you can just never ever drive the other persons vehicle.

Sorry it's not all great news:(

I've had a few wrecks in my vehicles with non named insured people driving. It was absolutely not a big deal. $800 to ~$52,000 accidents (medical costs, spinal damage woo!), police reports, hospital trips and the works. The insurance company could care less why a friend, or another time a girlfriend, was driving the vehicle. The policy for the vehicle (my policy) paid out in full, and was reimbursed by the drivers policy. That wasn't the case for my girlfriend, my policy paid out and she was uninsured and that was that, no problems at all, and no issues not adding her - as well as no issues adding her on later either.

YMMV, this was Oregon with State Farm and Progressive.

My buddy and his girlfriend had a vehicle-totaling many tens of thousands of dollars of damage accident in her vehicle. He was driving and not insured, and they were both 18 (same age as my ~52k wreck). The carrier paid out with zero issues, and modified her policy to exclude my friend from his girlfriends cars, I think until he was 21, I do know an age was specified. This did not carry to a new carrier, new carrier was fine with him being a unlisted occasional driver (10x year typically).

Now, to the question-asker - I 100% agree with combining your policies if you've been together a while. My girlfriend and I saved over a grand every 6 when I added her to my policy, after she had an accident in my car. Plus it makes things easier.

# ¿ Jul 5, 2013 20:26

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# ¿ May 6, 2024 05:46

SiGmA_X: May 3, 2004; SiGmA_X

Always max out your PIP options. I pay about $1.40/mo more to have 100k vs ... 10k min in my state I think? You have no idea how much less stressful life is when you're unable to work for 6mo and have 50k+ in medical bills that are just taken care of.

# ¿ Sep 1, 2013 18:03

SiGmA_X: May 3, 2004; SiGmA_X

Progressive's snapshot thing: How does it work? Does it meter braking force and acceleration force? I've considered doing it but I fear it will end poorly. I drive a underpowered land barge, throttle and brakes are utilized as needed!

# ¿ Sep 4, 2013 23:10

SiGmA_X: May 3, 2004; SiGmA_X

kansas posted:

Not saying its worth it or not, but having a high deductible plan will provide coverage if something catastrophic happens to one of you (e.g. major car wreck, cancer, etc). You'll also benefit from only paying the negotiated rates an insurance company has rather than whatever crazy prices are listed on the hospital chargemaster.

I've never tried this at a hospital - I never go there unless it's due to medics forcing me to from car wrecks. I see specialists at the hospital offices though. They all will bill uninsured customers at a far lower than insurance company rate if you ask nicely. The 'will pay cash/check and in full, now' line goes a long way. I've done this before when I was without insurance, with a variation of doctors. I never did it with a surgery center though, those were all covered by insurance / I was insured when they were needed thankfully

E: I think what I'm saying is if you think you don't need a high deductible plan, or insurance period, asking for a discount is perfectly acceptable and you should do it. IMO insurance is good, medical care is ridiculously expensive in 'MERIKA.

SiGmA_X fucked around with this message at 09:01 on Sep 22, 2013

# ¿ Sep 22, 2013 08:58

SiGmA_X: May 3, 2004; SiGmA_X

Beefstorm posted:

She's in surgery with another vet right now actually. The new vet gave us estimates of $550-$1100. I was like "OK!!!" Far more reasonable and the insurance company said they cover it. After she's recovered were canceling and getting another company. This was way too close a call for this policy to be this lovely.

Thanks for the quick reply!

If you want to post your company research when you do it, I would love that. I won't be in the market for 9mo+ but I'd love some background info!

# ¿ Sep 23, 2013 18:03

SiGmA_X: May 3, 2004; SiGmA_X

I have some questions about professional liability policies. CPA firm and $5m policy, WA based. Where would you start the hunt?

# ¿ Sep 25, 2013 20:25

SiGmA_X: May 3, 2004; SiGmA_X

I never knew insurance policies had cancelation fees... State Farm, AllState, eSurance, and Progressive don't. Seems that Dairyland may have a 10% fee from some Google results. Check your policy. Sounds like a shady company, too.

# ¿ Sep 26, 2013 09:24

SiGmA_X: May 3, 2004; SiGmA_X

Jastiger posted:

Have you contacted an independent agent? They should be able to help you with this too by doing all the legwork with the companies.

You could again, hit an independent agent. I'd make sure they are independent and have options though. Places like Farmers does it, but they generally only go through Zurich so you don't get a lot of options. Philadelphia is a good company I used for professional liability policies.

Thanks Jastiger, that's the input I was looking for. I have found a local independent but I haven't had them shop it yet. I was hoping for a underwriter recommendation, such as Philadelphia, so thank you very much!

# ¿ Sep 26, 2013 18:42

SiGmA_X: May 3, 2004; SiGmA_X

100 HOGS AGREE posted:

I had a similar thing happen to me once when a doctor's bill that should have been paid by my insurance went to collections for non-payment for some reason. I just called my insurance and they cleared it up.

It being that long ago though...

I did too, and I had to pay it because the settlement absolved the carrier of all future responsibility. That's how every settlement I've been in (people like to run into me, hand

) has been, too. Every situation is different though, it's absolutely worth calling re carrier and seeing if they'll take care of it.

# ¿ Dec 21, 2013 17:15

SiGmA_X: May 3, 2004; SiGmA_X

Are you healthy? COBRA can be retroactively purchased for...63? days after you depart your employer. So keep enough money for the entirety of the premium, and don't buy until you need it. COBRA is drat spendy.

# ¿ Jan 17, 2014 16:57

SiGmA_X: May 3, 2004; SiGmA_X

HondaCivet posted:

Just called HR, they said I get the whole month in which I quit. Going to talk to the people at the new job about it and see if they're ok bumping my start date back a little/confirm that I'm doing the right thing.

That sounds highly unethical... Are you sick? Do you see the doctor a ton? If not, just stockpile more money in your emergency fund to pay for the COBRA premium in the event something catastrophic happens. Call the COBRA administrator to verify, and search on SABFC. This has come up in recent past.

# ¿ Jan 17, 2014 19:35

SiGmA_X: May 3, 2004; SiGmA_X

HondaCivet posted:

What's unethical about it? I'm not breaking any rules. And yes I have some appointments in February.

Because of how the wait period is worded, my new benefits don't kick in until April. So I'll need to figure out the COBRA stuff anyway.

Bumping your start date back seems unethical in that you started on one day, and lying to your insurance company about that date.

Can you get insurance via your state marketplace? That's likely cheaper than COBRA. I forgot about that,

# ¿ Jan 19, 2014 00:05

SiGmA_X: May 3, 2004; SiGmA_X

HondaCivet posted:

No, I'm actually making my last day at the old job the 3rd of February and I bumped my start date at the new place on the 5th. No lying required.

I should look into that too, thanks for the reminder. I haven't actually paid much attention to how the Obamacare stuff works so I have a lot of catching up to do if I do that.

Oh, okay. Good deal, that extra month of insurance will be good. It's possible you won't have to pay a ton more on the individual market. I haven't really looked into it because my company heavily subsidizes my health insurance, and the OR site was down last fall.

# ¿ Jan 19, 2014 08:41

SiGmA_X: May 3, 2004; SiGmA_X

Jastiger posted:

For the beater car, no there isn't any "pre paid" insurance. If you're on the road in the states, they require minimum financial responsibility in the form of insurance for all drivers. Its part of the deal to drive. Honestly if you're concerned about it, this might be a good opportunity to hop on your room mates policy. A lot of places will give you a household deal if its two cars with two drivers, and it really may not be that expensive at all to do it the right way.

My gf and I save a fair bit of money ($200/mo when we were 22/21, a lot less savings now as we are 27/26 and it's way cheaper) and maintain insurance compliance with having a joint auto policy.

We also save roughly half our premium monies for renters, as we paid $115/ea for 15k personal property coverage and 100k liability coverage, and $130/combined for 100k liability and 30k property. Being every non related resident needs to be on a policy (in most states at least) you and your roommate could look into a joint renters policy to save money. Same goes for homeowners - in most cases homeowner can add a roommate onto their policy at a much more affordable rate, and it also protects you as everyone needs to be named (usually). State Farm was the cheapest, by a long shot.

Regarding taxes on insurance property payments, your tax liability is for the profit you receive. If you get $100 from the insurance company for your Jeans and pay $80 for your replacement Jeans, you claim $20 as income. I forget how you file taxes for this, google could help answer that.

E: Also, if you get a renters policy quote from any of the major companies, it's going to be within maybe 20% of any other company. I was quoted $115-155 from State Farm, Progressive, Farmers, Allstate, and I think one other... I don't see your aversion with giving the companies your info, how else do you think you can get an accurate range of prices? Call a local independent agent, give them your info, and then they can quote you for every company. They will give your info to every company they quote you with, of course.

SiGmA_X fucked around with this message at 00:02 on Jan 26, 2014

# ¿ Jan 25, 2014 23:56

SiGmA_X: May 3, 2004; SiGmA_X

Boris Galerkin posted:

I've been pricing renter's insurance for the websites listed and State Farms is by far the cheapest and includes the default highest coverage for things like computers and such. For personal liability and medical payment coverage, I've been just putting down $100,000 and $1,000 cause I don't actually know what this means. It seems completely asinine that if I had someone over and they slipped and fell that I would be liable to pay for them. I thought that's what their health insurance was for. Actually I don't even understand why medical related stuff is tied into renter's insurance because I thought that's why we have health insurance.

So now that I've got a quote, is it worth it to have an agent call me vs just buying it online? Worth it as in, can that agent give me discounts that aren't listed online, or am I wasting my time talking to someone as opposed to pressing "buy"?

My gf is a producer for a different major company than State Farm. She thought agency rates vs web rates would be better for renters with her company, and they're identical, and more than State Farm which is who we have renters through. Now, for auto, it's MASSIVELY (1/2!) cheaper via agency vs web. That's for an identical single policy, nothing special! I was blown away. So if you have multiple policies, call and get a quote. If you have a single policy (aka no auto policy), just buy State Farm off the web, IMO. For me, Progressive auto and State Farm renters are the cheapest by hundreds per 6mo, than having both policies individually or multiple-policy at any other companies.

Sperg Victorious posted:

Don't forget to get a certificate of insurance from your guests, just so you can make sure they actually have health insurance and are paying for levels you feel safe with.

Best post ITT. Lol! Have them sign a (non-enforceable) liability waiver too!

# ¿ Jan 26, 2014 23:15

SiGmA_X: May 3, 2004; SiGmA_X

Boris Galerkin posted:

I put in my contact info to a few places and now I've got assholes calling me asking about my quote. This is exactly why I don't want to give out my personal and identifying information.

So why'd you give out your info. Lol. Just pick the one with the best ad's and go with them!!1!

It takes precisely one sentence per company to have the calls end. Be a human and answer the phone, and politely tell them you don't need more info and do not call again.

Tbf, depending on company, it'll be cheaper if you get quoted over the phone. AllState is one of those. Even cheaper if you go with an agent vs their website.

# ¿ Jan 28, 2014 21:33

SiGmA_X: May 3, 2004; SiGmA_X

EugeneJ posted:

I posted in AI about this, but not sure what to do.

I was rear-ended a week ago in the US while stopped at a stop sign by someone with Canadian plates - it wasn't the driver's car, the car was owned by some Canadian company.

Visual damage is minimal, but I want to get the car looked at and repaired since I lease. I'm also worried about a possible concussion and pain that could arise at a later time since they hit me pretty hard. I filed a report with my carrier and contacted the Canadian carrier to file a claim. I received a call from the Canadian carrier saying the owner of the car didn't want his insurance knicked, so the best the insurance company could do was let the owner pay the costs of damage directly to me (guy was screaming "IT'S JUST A SCRATCH" at me over the phone). I refused and said I want a claim, and that I'd go back to my carrier to have them deal with it.

Upon further review, my collision policy has a $1000 deductible and the damage might not exceed that, so my carrier wouldn't even be able to subrogate if that's the case. Am I better off calling the Canadian company back and demanding they pay for my damage and rental? Should I get a lawyer? If I accept the property damage payment from the owner of the car directly (and not through a claim), do I forfeit any right to file a supplemental claim if it turns out I was injured?

It's been a week - are you injured or not? I've been in half a dozen mild to severe accidents and you know about personal physical damages within 48hr on the outside.

If you're fine, get a body shop estimate and settle with the dude for cash. No reason to wad up the insurance system or waste the guys money.

If you're hurt, make a claim.

If you're not sure, go see a doc now. You're definitely at the time-duration where the other party will claim that you're full of poo poo though, and legally they have some backing being anyone who was injured would have sought care by now. 1 business day is normal to seek care.

# ¿ Feb 3, 2014 20:55

SiGmA_X: May 3, 2004; SiGmA_X

OneWhoKnows posted:

Homeowners insurance question:

We've just discovered one of two bikes and some computer parts missing out of our garage. This happened some time in the last week or so - we are packing up for a move. Should we file a police report before contacting insurance or just contact insurance straight away?

I'd file a police report promptly upon theft of property...

How did you not notice that your garage was broken into..? Or are you one of those people who doesn't lock garages? If the latter, this is exactly why you always lock everything, always.

# ¿ Feb 14, 2014 00:19

SiGmA_X: May 3, 2004; SiGmA_X

West SAAB Story posted:

It is odd that insurance will cover if a tree falls on a fence, but not when a fence falls on a tree.

Likey depends on your policy. My buddies doesn't cover trees falling on non-house things, like cars.

# ¿ Feb 20, 2014 23:45

SiGmA_X: May 3, 2004; SiGmA_X

Jastiger posted:

That is mega crappy. Unfortunately that is likely going to be considered an at fault collision claim with your insurance company. These are the ones that raise your rates and stuff like that. It won't pay out a lot, but it will be a hit if its over a certain threshold dollar amount. Do you have something like accident forgiveness or some such? Otherwise, yeah, consider making a claim just know it'll likely raise your premiums in the near future.

You think it'll be collision? Flying rocks that caused $3-4k in damage was comp for my dad on my first car. Isn't this basically the same thing?

# ¿ Feb 21, 2014 17:02

SiGmA_X: May 3, 2004; SiGmA_X

Shaocaholica posted:

Well as it turns out its a 'comp loss' and not collision. $500 deductible.

So my next question is, are there thresholds for how much my premium goes up based on the repair amount? Is there any difference between a $1k repair and a $3k repair? $5k? $10k? Seems like its in my best interests to go right up the threshold and not surpass it if its a step system. Conversely its in the best interests of the repair shop to claim the maximum amount of work within reason.

Same exact rate increase regardless of value - despite what some agents say. Their commission changes levels based on claim value from what a friend who is a producer said (could vary by company, he was with State Farm, and his dad owned the agency for 3+ decades, I tend to believe him). I don't think I've ever had a rate increase from comp, either, FWIW.

Insane Totoro posted:

Is a good general rule of thumb for auto insurance that you insure your car for the value of your house? I know the OP says that I should get as much insurance as I can afford but that's a really vague amount of money.

Currently I'm only paying $200 twice a year for $15,000 (BI coverage), $30k per accident, and $15k property damage liability.

My insurance agent recommends I spend about $400 twice a year for $250,000 for BI coverage, $500,000 per accident, and $100,000 for property damage liability.

I own a home that is worth about $180,000. Is it true that I want a policy that exceeds or meets that cost so I don't lose my house in an accident lawsuit of some sort?

Is there any "better" halfway point between doubling my premiums and what I currently pay? My wife and I make around $60k jointly a year and we have zero accidents on our record at age 29.

Youre taking on far too much risk with your low coverage. Small accidents can sometimes result in many tens of thousands in damages. You would absolutely be bankrupt if you got in a reasonably bad accident, and that's just foolish.

I'd recommend at least 100/300/100, if not 250/500/250.

VVVVV Whoops on the dollar amounts, you have that right.

SiGmA_X fucked around with this message at 02:57 on Feb 22, 2014

# ¿ Feb 21, 2014 22:33

SiGmA_X: May 3, 2004; SiGmA_X

I know costs could vary greatly, but what's a ballpark of cost per month for a healthy 50YO vs coverage amounts for LTC? I'm years away from that point, and ATM I just have great STD/LTD[&/Term/health/auto/renters] coverage.

# ¿ Feb 28, 2014 16:11

SiGmA_X: May 3, 2004; SiGmA_X

Please list the actual numbers of your two plan offerings. Deductible, OPM, coinsurance % (preferred only), premiums and employer HSA contributions. Thanks!

# ¿ Mar 12, 2014 22:27

SiGmA_X: May 3, 2004; SiGmA_X

I ran the numbers for my health plan for you to look at, HDHP vs PPO. If you give me your numbers, I'll run them too. None of these include the tax avoidance of using the HSA for your medical expenses. Premium is quoted on an annual basis, which I would hope is obvious from the numbers.

Including the employer HSA contribution:

Without the HSA contribution:

Being I am high-risk (or was, as this no longer exists yay!) due to spine issues, I was paying $4,512 for a $500/1500 (deductible/OPM) plan before, and I had about ~$4-600 in medical expenses the last two years (and around ~$60k the prior two years!). So for me, anything under $5k/yr was a deal, and the HDHP makes my MAX possible expenses ~$4,357.

Each situation is different, but if you're reasonably healthy, I'd go HDHP.

# ¿ Mar 14, 2014 06:33

SiGmA_X: May 3, 2004; SiGmA_X

EugeneJ posted:

Your premiums for an employer-sponsored plan sound ridiculously high. Are you really paying $356/month, or does your employer defer some of that cost?

Something on the exchange might very well be cheaper than that.

Its was late, I'll give you a pass. But why would you ever discuss annualized costs, which deductible and OPM are, and discuss monthly premium? How could you compare ANNUAL out of pocket costs without annual premium? "Premium is quoted on an annual basis"... $29.66/mo seems pretty good.

SiGmA_X fucked around with this message at 15:22 on Mar 14, 2014

# ¿ Mar 14, 2014 15:18

SiGmA_X: May 3, 2004; SiGmA_X

Boris Galerkin - Want me to run your HDHP numbers? Post em up sir!

PuTTY riot posted:

Talked to my state farm lady about adding homeowners to my policy. It's a 3 bedroom ~2100sqft with a pool in Mississippi. Do these prices look right and is this a sufficient amount of coverage? My boss has been hyping up his umbrella policy... is adding umbrella a good idea?

replacement cost $216,000
insured 100% - annual premium $1,331
w/ swimming pool
personal liability to 500,000
5,000 /person medical payments
162,000 personal property coverage

umbrella:
+200/yr 1 million coverage on top of homeowners and auto insurance

Does it drop your auto rates too? Because it usually does. If it doesn't, you may want to shop around. Or talk to Mr. Jastiger, maybe I'm wrong for State Farm? I know it does with Safeco and Allstate.

# ¿ Mar 21, 2014 05:44

SiGmA_X: May 3, 2004; SiGmA_X

Are you sure you can't get additional life via work?

# ¿ Mar 21, 2014 20:01

SiGmA_X: May 3, 2004; SiGmA_X

Tojai posted:

If I buy back the car, my understanding was that I have to get a salvage title and they won't insure it for anything but liability? If it varies by state, I'm in Texas.

I'm not necessarily opposed to driving around with hail dents, but I don't want to take on extra risk either. I'd rather deal with getting a new car now than have a loss that I can't be compensated for.

You can get full coverage in Oregon, but it varies by carrier. Ask your carrier. Esurance doesn't insure totaled cars - but they totaled my old car out, sold it back to me, and reinsured it... Scary to find out I didn't actually have coverage that I was paying for... I'm not sure how it would have held up in court.

# ¿ Apr 4, 2014 23:11

SiGmA_X: May 3, 2004; SiGmA_X

My friend needs someone to chat to about professional insurance for a computer tech company in California. Anyone here able to do that? He wants to buy it if it turns out he needs to and it'll cover what he's looking for, etc, etc.

# ¿ Apr 8, 2014 01:18

SiGmA_X: May 3, 2004; SiGmA_X

The Jizzer posted:

Sent you a PM. I do a lot of professional liability / cyber liability.

Thanks!

# ¿ Apr 9, 2014 21:08

SiGmA_X: May 3, 2004; SiGmA_X

Jastiger posted:

Some companies will ding you for using roadside assistance. I work for Nationwide and we don't unless you have 6 roadside claims in I believe an 18 month period. Things happen, sometimes you lock your keys in the car or have a flat so a lot of companies won't hit you.

But.....if you're getting towed every other month eyebrows do get raised.

I know for at least my company our roadside is the same and is cheaper than AAA, but you lose out on some of those extra bonuses like discounts at hotels and stuff. For most people that isn't what they have AAA for, they have it for the roadside. So, I'd look into your company's price and coverage for roadside before going with AAA.

I know VERY little about roadside assistance offerings from insurance companies these days. Do they charge per incident deductibles? I had a $50 deductible with State Farm and Allstate back in 2004 (switched mid year, had to use it with both woo!) and it only covered the first 10ish miles - I'm fuzzy on the distance. Progressive's website says $28 or so a year for my two cars, and says closest repair shop or 15mi, which I assume means whichever is less. From google and some forum reviews, its definitely whatever is less. Does not say anything about deductible, and does not specify it includes flatbed towing.

# ¿ May 31, 2014 22:27

SiGmA_X: May 3, 2004; SiGmA_X

Jastiger posted:

Well I know Nationwide farms it out to another company to manage the service, as do most companies that offer it.

You'll seriously want to read up on it for your own company. One thing I have learned is that roadside assistance used to be pretty uniform across companies. You get stuck, you call your company, you get a tow.

Now, with increased competition, some companies are starting to do different things to set themselves apart. Nationwide for example provides 100 mile towing is essentially Triple A for insurance holders, including fixing flats, battery jumps etc. Progressive is simple towing to the nearest repair shop and that is pretty much it, no other things are really covered.

As far as I know, none offer a deductible plan, merely a dollar amount they will cover up to. Its usually expressed in a 30/200 type number, with 30 per incident, 200 per policy period or month. So if the tow to the nearest place costs $80 and you had $50 from the company, you're paying the extra $30.

Be sure to look into it for each company.

Good info, thanks Jastiger! That is a lot different than in 2004. I like Nationwide's coverage, that would definitely replace AAA for me. I think I'll have to touch base with Progressive and get a copy of the roadside policy.

Thanks!

# ¿ Jun 1, 2014 02:34

SiGmA_X: May 3, 2004; SiGmA_X

Jastiger posted:

Its possible that he bought the policy for ALL of his companies and he just has a parent group there. I'd make sure you're listed as insured and can get benefits through the group.

Quite possible it's legit, but research it. My gf's employer is a large small biz (3-500 employees) and the owner has llc's setup for each subsidiary. Insurance is in the parent llc's name, while my gf is employer by a subsidiary. No issues there. But we definitely double checked because car dealer = sketchy by default!

# ¿ Jun 2, 2014 23:50

SiGmA_X: May 3, 2004; SiGmA_X

emocrat posted:

This is unfortunately the wrong way to look at the dwelling coverage, instead you should be getting a dwelling coverage amount equal to the replacement cost of the unit. Like Jastiger said, what it would cost to rebuild it from the studs up. Basically, the reason you need to do this is called Coinsurance, and the super simple explanation goes like this:

If you have a loss, and are under insured (bought a total amount of insurance that is less than the total value) then the insurance company pays the loss at a discounted rate equal to rate of under insurance.

Example

Actual Value of unit = 100k
Amount of insurance bought = 50k
That makes the ratio 1/2

If you have a loss and make a claim the insurance company will apply that 1/2 ratio to any payout, so:
30k loss, they multiply by .5 and you end up with a check for only 15k.

Oh interesting. I had never heard of the term coinsurance being used like that, but I've also never heard of anyone under insuring their dwelling. Most (all??) lenders do not allow this anyway, and you'd have to be dumb to under insure regardless of lender requirements.

Thanks for the explanation.

# ¿ Jun 3, 2014 17:28

SiGmA_X: May 3, 2004; SiGmA_X

Wickerman posted:

Well, I got a letter today from LexisNexis saying that because I was in the same household and on the same policy that they aren't going to remove it.

Basically I'm hosed. Can I call Progressive and just explain the situation so they don't rate me with 3 at-faults in the past 3 years? Will a CSR even do that or do I need an agent?

Wow. That's some bullshit.

Def call Progressive.

# ¿ Jun 10, 2014 00:31

SiGmA_X: May 3, 2004; SiGmA_X

Weird. The girl I talked to in 2010 knew CLUE = LexisNexis, but maybe they changed procedure to say DENY DENY DENY...

Post coverages, you'll get feedback.

# ¿ Jun 12, 2014 21:16

SiGmA_X: May 3, 2004; SiGmA_X

Wickerman posted:

Alright, so here's what I've got (I really can't tell you how much it actually costs until they process the letter, so...):

BI&PD: 300 CSL
UUMB: 100 CSL
Medical Pmts: 5k/person

Vehicles (2; 1996 [truck w/good value still]& 1999[honda accord]):

Comprehensive: $100 deduct w/$0 glass
Collision: $100 deduct
Rental: $50 per day/30 day max
No roadside

I've been considering returning my BI&PD to 100/300/100 again and increasing my comp and collision deductibles to $250. They are so low because at this point in time, I really can't 'afford' to take a beating if something happens to the vehicles.

Id bump deductible to $250 and put an extra $150 in your emergency fund.

I'd also absolutely increase medical. I carry $100k and it's cheap. And from my last accident which had $60k in medical bills, it was seriously needed.

# ¿ Jun 16, 2014 19:41

SiGmA_X: May 3, 2004; SiGmA_X

nbakyfan posted:

I currently have insurance in KY, and I will be living in Florida for five months for an internship. In the event of a car accident or some comprehensive damage, will the insurance company get upset that my location is different? I will be down there for less than six months, and I pay my insurance in six month increments.

You must tell the carrier when you move in-city, so I assume out of state definitely requires it.

SiGmA_X fucked around with this message at 21:43 on Jul 15, 2014

# ¿ Jul 15, 2014 21:26

SiGmA_X: May 3, 2004; SiGmA_X

And go to a third party for the estimate. Easy. It's not like your insurance company fixes it anyway.

# ¿ Jul 29, 2014 06:57

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# ¿ May 6, 2024 05:46

SiGmA_X: May 3, 2004; SiGmA_X

DeesGrandpa posted:

Who's the go-to for renters insurance? Only need 15k or so of coverage. My leasing company tells everyone to go with erentersplan.com, but i haven't heard poo poo about them. Should I just go with state farm or something?

Varies by zip code, honestly! State Farm was the cheapest for me by a fair margin. Farmers was almost 2x the price, and Allstate about 1.3x.

I would go with 100k in liability at a minimum, and whatever your realistic property coverage should be - mine&gf have 30k. Fires are expensive.

Like Jastiger said, 15k to 30k was a minimal rate increase. Now if I paid monthly vs annually, haha.. Huge diff there.

# ¿ Jul 30, 2014 18:19

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Ask me about insurance!

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