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Re: Auto insurance property damage limits [Re: Mad_Hatter] #5120930 05/31/19 06:29 AM
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Linctex Offline
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Originally Posted by Mad_Hatter

A lot of PI attorneys won't even take a case if the at fault party doesn't have insurance and/or assets. You're just SOL at that point..


That's just not right.

I know you "can't get blood from a turnip" ..... but what is a viable alternate SOLUTION to the dilemma?


"The evidence demands a verdict".
(Re:VOA)"it's nearly impossible to actually know the particular additives that are in there at what concentrations."
Re: Auto insurance property damage limits [Re: motor_oil_madman] #5120942 05/31/19 06:38 AM
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madRiver Online Content
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I would not call the decision dumb yet since Motorman has not had an accident and has saved a bit of money all this time policy smile

Now that you are aware pick the most coverage you can increase. $50k is peanuts.

I was able to milk some property/contents damage to my garage from unlicensed 15 year old driving mummies car/running from police in high speed chase. Using my personal home owners who collected/subrogated over $55k from car owners GEICO car insurance. The contents were 40% of claim with stuff stored for FIL who was between houses/downsizing and looking to sell on CL.

Re: Auto insurance property damage limits [Re: Mad_Hatter] #5120952 05/31/19 06:54 AM
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madRiver Online Content
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Originally Posted by Mad_Hatter
Originally Posted by dishdude
Someone with limited assets has less to lose and can declare bankruptcy and discharge the judgement.


A lot of PI attorneys won't even take a case if the at fault party doesn't have insurance and/or assets. You're just SOL at that point..

The fines for not carrying at least the state minimum should be double what they are!




You are missing the point. He mentioned property damage which PI attorneys don't work or really care about. They chase liability insurance. Insurance companies do in fact go after individuals . The nicest person I know was driving his car and crossed yellow line looking at girls with no insurance(not required in NH). He totaled a $50k+ Caddy in 1990. They were able force payments monthly with judgement of suspending drivers license if he chose not to pay. It worked!

Re: Auto insurance property damage limits [Re: Linctex] #5120964 05/31/19 07:05 AM
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Mad_Hatter Offline
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Originally Posted by Linctex
Originally Posted by Mad_Hatter

A lot of PI attorneys won't even take a case if the at fault party doesn't have insurance and/or assets. You're just SOL at that point..


That's just not right.

I know you "can't get blood from a turnip" ..... but what is a viable alternate SOLUTION to the dilemma?


When my son got hit by an uninsured driver, who was on his phone according to other drivers at the intersection, we ended up filling an uninsured motorist claim with our State Farm policy. I hated doing that but that was our only recourse to cover some of the expenses like my wife missing work to take care of our boy and the copays and co-insurance expenses that added up quickly with the surgery (he had to have pins put in his shoulder and arm) and weeks of physical therapy for him because he had numbness in his arm and hand.

The driver only got 30dys in jail for this. It was his 3rd driving without a license and no insurance offense... and only 30dys. I was livid...

Re: Auto insurance property damage limits [Re: hank2] #5120967 05/31/19 07:09 AM
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Originally Posted by hank2
I scoffed at an agent back in about the early 80's, when he suggested increasing to $100k property damage liability. I asked what I could hit that cost that much, other than a flagship model or two. He replied, "how about a tractor-trailer and you're judged at fault?". I did go with that, but still only have $100k today. Basic mini vans selling for over $50k.


Some peals of wisdom there. Had a good friend that was at fault t-boning a tractor-trailer in the flatbed trailer portion. Visible damage looked like nothing most would scoff at but since those trailers are rated for a specific tonnage, the trailer was totaled because it could no longer be certified for weight. Cost him and his insurance close to $96K to the business that owned the trailer. That cost was on top of his totaled Ford F150 that cost him close to $35K. He had $31K coverage deficit he had to eat. Basically lost out getting his truck replaced to cover the trailer damage and replacement.


2020 Jeep Gladiator Rubicon 3.6L (Dealer Bulk 0W-20)
2017 Jeep Renegade Latitude 2.4L (Idemitsu 0W-20)

Re: Auto insurance property damage limits [Re: madRiver] #5120969 05/31/19 07:12 AM
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Mad_Hatter Offline
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Originally Posted by madRiver
You are missing the point. He mentioned property damage which PI attorneys don't work or really care about.



Huh? Not sure that's an accurate statement. I've been involved in 2 car accidents myself, both times the PI attorney secured a settlement for damages to my cars. And in both instances, the property damage amount paled in comparison to what I received in P&S.

Property damage limits are just one aspect of deciding coverage limits. Ignore bodily injury limits at your own peril.

Last edited by Mad_Hatter; 05/31/19 07:17 AM.
Re: Auto insurance property damage limits [Re: Hootbro] #5120973 05/31/19 07:16 AM
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Mad_Hatter Offline
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Originally Posted by Hootbro
Basically lost out getting his truck replaced to cover the trailer damage and replacement.


Oh man, that sucks with a capital SUCK! Lesson learned I suppose...

Re: Auto insurance property damage limits [Re: motor_oil_madman] #5120985 05/31/19 07:30 AM
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I am not aware of anyone who ever planned to run into another car. As someone who has driven a ridiculous amount of miles for almost 5 decades I can assure you that you rarely schedule for that sort of thing.


These days with new car prices you may be a bit foolish to have low coverages. And some of us need a better insurance agent who is more helpful...


"In a democracy, dissent is an act of faith."
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Re: Auto insurance property damage limits [Re: motor_oil_madman] #5120987 05/31/19 07:31 AM
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Gebo Offline
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Get an umbrella for peace of mind.


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Re: Auto insurance property damage limits [Re: motor_oil_madman] #5120994 05/31/19 07:37 AM
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ARCOgraphite Offline
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My New Agent talked me into a $1M umbrella. I though I would give it a whirl - now I'm driving a Turbo and I'm old and retired-ed.

Cost of one power lunch annually.

STATE FARM FIRE AND CASUALTY COMPANY
PERSONAL UMBRELLA RATE QUOTE
January 08, 2019
Prepared for: Prepared by: (NT)
xxxxxxxxxxx
xxxxxxxxxxx
HAMPSTEAD, NH
03841-2371
(603)329-5xxx
CLASS:1 AUTOS:02 RATES EFFECTIVE: Aug 01, 2017
DRIVERS:02 TERRITORY: 1
Policy Coverage Amount Premium
Policy Amount 1,000,000 159.00
Class 50 Discount Included 24.00CR
Total annual premium--------------------------------------$ 135.00
Monthly premium (service charge not included)------------- $ 11.2


2019 VW Jetta S 6MT OCI#1 5885mi-Castrol Edge Prof? VW508+VW Service Filter; '17 Subaru Crosstrek CVT OC#7 52665mi-Castrol GTX Magnatec 5W20 + SOA Filter
Re: Auto insurance property damage limits [Re: ARCOgraphite] #5121004 05/31/19 07:46 AM
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Mad_Hatter Offline
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Originally Posted by ARCOgraphite

Total annual premium--------------------------------------$ 135.00
Monthly premium (service charge not included)------------- $ 11.2[/color]


I don't have an umbrella policy but that seems totally reasonable for the peace of mind it provides. I have SF too but I haven't seen my agent in years; he's always calling to get me to come in for a review.. gonna have to look into that. An additional $11'ish added to my policy isn't going to change my way of life but provides some good peace of mind.

Last edited by Mad_Hatter; 05/31/19 07:50 AM.
Re: Auto insurance property damage limits [Re: motor_oil_madman] #5121029 05/31/19 08:10 AM
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ARCOgraphite Offline
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Remember it's liability coverage just for YOUR silly mistakes and poor acting, Not someone elses. I think it may cover slander too, Im not sure.
Good for Politicians smile


2019 VW Jetta S 6MT OCI#1 5885mi-Castrol Edge Prof? VW508+VW Service Filter; '17 Subaru Crosstrek CVT OC#7 52665mi-Castrol GTX Magnatec 5W20 + SOA Filter
Re: Auto insurance property damage limits [Re: motor_oil_madman] #5121041 05/31/19 08:25 AM
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hallstevenson Offline
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Who is your insurance carrier ? I'll take a guess just for fun..... Progressive (??). They like to quote very low rates and they are inexpensive because of their low coverage limits. Years ago, Ohio had a minimum liability amount of only $12,500 and a customer of theirs hit my wife and kids in our van. Thankfully they didn't have the minimum coverage amount, they had $15,000 !! Whooo-hoo ! Needless to say, it didn't cover our totaled vehicle or my wife and son's ER visits and my wife's follow-ups.

Re: Auto insurance property damage limits [Re: mk378] #5121056 05/31/19 08:39 AM
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Originally Posted by mk378
Insurance agents can't outright suggest or recommend a limit to have, because that would be providing financial / legal advice (and also a conflict of interest, since they get more commission if you buy more). They are only licensed to answer particular questions about insurance, such as what is covered and what is not.
Insurance agents and/or companies are pretty regulated by the states they operate in so maybe Ohio is different. By that I mean, our current agent has a "policy" that all new clients have a minimum of $100k/$300k coverage and existing clients they "recommend" they increase their limits in cases that they are below that. If you disagree, he can't force you but he doesn't have to cover you either. After the situation we were involved in previously and the amount of increase in premium was minimal, I had no hesitation in changing it.

Now, as I said, that "policy" isn't written in stone. Our son recently bought a car and was able to finance it himself (the back-up plan was I would co-sign) and since it was titled to him only, we wouldn't put his car on our policy. Our agent worked with him/us to make his premiums a little more affordable by customizing his coverages including going below their normal, minimum liability amounts. They did say, and we all agreed, that if record stays clean, we'll re-evaluate it every year to see the impact and no matter what, when he reaches 25 years old, the agent will really push him to $100k/$300k coverage.

Re: Auto insurance property damage limits [Re: motor_oil_madman] #5121135 05/31/19 10:09 AM
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Going through this right now....guy T-bones front of wifes car, his fault and gets a ticket....totaled. Neck and shoulder pains. Got xray and went to rehab. No change. Got MRI that the other insurance agreed to, didn't pay. We get a lien on us for the rehab, 12K dollars. MRI was 3K dollars that went on my BCBS insurance, which wasn't suppose to. Radiologist said torn ligaments, surgery required. Other insurance said we will only pay after settlement. How in tarnation are we suppose to settle when she is still trying to get well??? OK state minimum is 50K. He had Farmers Ins, we got SF. So, off to a lawyer we went. I will say, Farmers was pretty good about settlement on the 14 CRV...got close to 15K for that car and she drove an Infinity QX 60 for two weeks...that sucker was NICE. So now, I don't know what to do. She needs surgery, and can get it done through BCBS, but I got federal. I was told that with federal BCBS, that the one at fault must pay. I got to look into that. I don't think BCBS will deny coverage, but they may, and then we're stuck with this crazy bill. Funny, right after the accident, I talk to the adjuster/agent, they asked me if she was alright, I told them I don't know. They offered us 500 dollars right then and there to settle.....boy, I glad I didn't.


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