Buying a new car.

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kcarter609
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Postby kcarter609 » Thu Nov 15, 2012 6:03 pm

The difference in price for 25k/40k vs like 100k/300k is next to nothing. Just to give you an example, my dad had an accident (not his fault) and 2 surgeries went through $300k like nothing. He needed more stuff after that, but the insurance stopped paying. Have them quote it at 100k/300k and then again at 250k/500k to see the price difference.

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paparoach429
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Postby paparoach429 » Thu Nov 15, 2012 8:17 pm

The 25k/50k wasnt medical, it was collision. (is that what they call it?)

kcarter609
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Postby kcarter609 » Thu Nov 15, 2012 9:33 pm

It's probably property damage (that's what they call it specifically). You should post all of your coverage limits here.

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paparoach429
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Postby paparoach429 » Thu Nov 15, 2012 9:47 pm

Ok I'll look into it in bigger detail in about an hour but as far as 25k/50k property damage is that sufficiant or no?

kcarter609
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Postby kcarter609 » Fri Nov 16, 2012 7:59 am

Yeah that's sufficient if that's enough to cover your car.

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djrez4
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Postby djrez4 » Fri Nov 16, 2012 10:27 am

But not sufficient if you run into someone else's Mercedes. 25/50 means $25,000 per person, $50,000 per incident. If you do more than $25,000 of damage to someone's car, the rest comes out of your pocket.
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kcarter609
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Postby kcarter609 » Fri Nov 16, 2012 6:17 pm

djrez4 wrote:But not sufficient if you run into someone else's Mercedes. 25/50 means $25,000 per person, $50,000 per incident. If you do more than $25,000 of damage to someone's car, the rest comes out of your pocket.


This is all becoming way too confusing. Property damage isn't listed as 25/50k. It's a flat 50k for whatever. OP needs to post all of the coverages.

Active Cards:
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AMEX Zync (No Pre-set Limit - 1/2010)
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paparoach429
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Postby paparoach429 » Sat Nov 17, 2012 12:56 am

It says: Bodily injury and property damage liability: 25k per person, 50k per accident, 25k property. Uninsured/Underinsured motorist bodily injury 25k per person, 50k per accident. Medical payments $0 coverage.. If this is not sufficiant let me know what I should change the numbers to so I can alter them and report back with what the price has changed to.

kcarter609
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Postby kcarter609 » Sat Nov 17, 2012 11:20 am

Totally insufficient on the medical coverages. That meets state minimums yes, but it's worthless in the real world. As I stated before, my dad got hit by someone and 2 surgeries burned up the 300k coverage like nothing and he ended up owing more money.

Here is what I have:

--Liability to others
Bodily Injury $250,000 each person/$500,000 per accident
Property Damage $100,000 each accident
Comprehensive/collision

--Uninsured/underinsured motorist
Bodily Injury $250,000 each person/$500,000 per accident
Property Damage $100,000 each accident

--Personal Injury Protection (PIP - I think this might be NJ only)
$250,000 each person with $250 deductible

These limits are the highest that insurance companies offer. The difference for me between 100k/300k and the 250k/500k was like $40 per 6 months. Worth every penny. The average person will go with 100k/300k coverages. It's good, but I prefer the max. Definitely get more than what you have though, because if something ever goes wrong, you'll regret the cheap coverage. It really shouldn't be much more to upgrade it either.

Active Cards:
Chase Freedom 10+10 Visa Signature ($9k Limit - 8/2012)
Chase Sapphire Preferred ($10k Limit - 2/2013)
Chase Ink Plus ($7k Limit - 2/2013)
Discover IT ($9.5k Limit - 10/2012)
AMEX Zync (No Pre-set Limit - 1/2010)
AMEX Blue Cash Everyday ($20k Limit - 1/2013 - Backdate to 1/2010)

paparoach429
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Postby paparoach429 » Sat Nov 17, 2012 3:54 pm

Why so high on the property damage? Are you surrounded by Ferraris and Bugattis?



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