Wtf? Progressive?

[Charlie]

I park my car for the winter, every time I cancel my policy on my e30 the insurance company says I have to take my license plate to the state police since the car is no longer insured. I tell them if the police have nothing better to do they can come and get them. Once I intentionally let my insurance "expire" since I parked the car for the winter, I received a bill and called the adjuster. They said letting the insurance expire is not the same thing as cancelling the policy, it's weird that my insurance will "end" on a certain day if I don't pay, but I have to call them to quit getting the bills. I hate insurance companies....

You do realize letting it expire can make it very difficult to get new insurance should you switch companies, right?

You can usually get something similar to "seasonal" insurance if you talk to the agent. Basically tell them it's off the road.

-Charlie

[dlmpsy]

I've had insurance through the same company for 23 years, the bill was straightned-out by the adjuster. In WV we have to have insurance, (oddly enough when an accident happens many people don't), now we have to have uninsured insurance as well. Just across the border insurance is much cheaper for some strange reason, it seems that the insurance companies have their own scam going, foreign parts, used parts, low book value on cars if totalled, "blue ribbon" repair shops (the shop pays to be a blue ribbon shop, btw), etc. As I said before, I hate insurance companies.

[318isbmw]

You do realize letting it expire can make it very difficult to get new insurance should you switch companies, right?

You can usually get something similar to "seasonal" insurance if you talk to the agent. Basically tell them it's off the road.

-Charlie

I concur, we pay 7 a month on our project cars at home just incase anything happens to them while their parked.

[z31maniac]

I've had insurance through the same company for 23 years, the bill was straightned-out by the adjuster. In WV we have to have insurance, (oddly enough when an accident happens many people don't), now we have to have uninsured insurance as well. Just across the border insurance is much cheaper for some strange reason, it seems that the insurance companies have their own scam going, foreign parts, used parts, low book value on cars if totalled, "blue ribbon" repair shops (the shop pays to be a blue ribbon shop, btw), etc. As I said before, I hate insurance companies.

Yup insurance is a huge scam. It's evil and intolerable. Your rates are based on so many different things it would blow your mind.

I know State Farm for instance usually breaks even on premiums, they make money by investing the premiums taken. Lots of years the even record a loss before the money made from investing is accounted for.

Self-insure then.

[Van Westervelt]

Self insure eh? You have 250k or 500k just sitting around? I sure dont.

[dlmpsy]

Yup insurance is a huge scam. It's evil and intolerable. Your rates are based on so many different things it would blow your mind.

Self-insure then.

I detect a note of sarcasm in your post, I don't know if Oklahoma mandates insurance but WV does. Insurance rates were promised to go down, but they continue to go up. All the insurance agencies rates in this area are within a few dollars of one another. It's a type of price fixing. FYI, insurance in my rural area is about 1/3 higher than Virginia, even when compared to cities in the DC area. In my experience if you get in an accident the insurance tries to fix the car as cheaply as possible, so they encourage you to go to one of their recommended repair shops (who pays a fee to the insurance company to get referrals and tends to agree with the adjuster about what needs repaired/replaced). You end up with aftermarket parts that fit poorly, used parts or rebuilt parts. If there is a problem (The Blue Ribbon Guarantee), you end up having another battle trying to get things repaired properly. You are correct, insurance rates are determined by the area in which you live, age, marital status, type of car, driving history, and even your credit score to name but a few of the variables.

[z31maniac]

Yes Oklahoma mandates liability insurance. Uninsured is optional, but you are required to sign a form stating that you don't want it. But unless under/uninsured laws are different in your state, its a scam anyway.

In OK, under/uninsured only pays for medical bills to people in your car. So if you have health insurance already, there is really no point in having it.

I also have a hard time believing that all the insurance companies are quoting you nearly the same price. My quotes have always varied wildly as different companies set up the pricing structures to attract certain types of customers. IE, a 40 yr old with good credit no tickets or accidents isn't going to get good rates from a high-risk company and vice-versa.

Make sure to also give some calls to independent agents who usually broker for as many as 30 different carriers. There hundreds of different insurance carriers in the country.

Self insure eh? You have 250k or 500k just sitting around? I sure dont.

No, I don't. In OK its 25/50/25 so 100k would do it, but I don't have that either!


And most of the time the reason people get pissed about insurance is they don't understand the process or read their policy. People buy a policy (enter into a legally binding contract) and then don't read the terms of the contract and get pissed when they find out something isn't covered.

Do you feel sorry for the people who got ARM loans to buy houses, didn't read the contract, and have now lost them because the payments went up? I don't.

[rwh11385]

Multi car discount. Most insurance companies do it.

That being said, 755 bucks to insure a jetta? Please tell me that includes comprehensive.

-Charlie

Even if that does include comprehensive, damn... he must suck as a driver.

that being said, $300 every 6 months goes to E30 as a recreational 2nd car, liability only. So I don't know how an M3 2nd car is $5... besides the Jetta costing a shit ton.

[z31maniac]

^Really?

I know I'm in OK (car rates low, house rates 4-5th highest in nation) but for full coverage with a $250 deduct I think I pay $30 a month through State Farm.

[dlmpsy]

The rates are within about $20-30 when compared against different agencies (State Farm, Allstate, Nationwide, etc.) That would be after I had a policy with the new company for a year or whatever it is, and had no accidents. I checked the Progressive and Geico websites this spring and the prices were all so close that it's not worth changing. I'm a firm believer that insurance is a good thing, especially with your car or your home. The problem here is that there is no competition, since it is required for everyone it seems that there is an agreement between the different companies...similar to fuel prices, they all are about the same. I live near the border of Virginia, if people move here they keep their VA license and a VA address as long as possible so they don't have to pay higher insurance rates. My nephew and his girlfriend have done this for over a year so far. I don't understand why you lose value as your car ages, but the insurance rates decrease very, very little compared to the "book" value of your car. It just seems fishy to me....

[ak96ss]

USAA - if you can get in with them, stick with them. Have to be affiliated with the military, but I haven't found anyone that beats either their rates or their service.

[ethree]

USAA - if you can get in with them, stick with them. Have to be affiliated with the military, but I haven't found anyone that beats either their rates or their service.

x963782901000

Their service is fantastic, it's like they actually have people there you can help you out and are friendly.

[Rennsport]

self insure.....

what happens when you get sued a couple years down the line for medical, emo, wage loss and all the other bs from an accident you were found "at fault" for?

in WA it is illegal to not have insurance (a heafty $500 minimum fine for not having it when you get pulled over) and you have up to 3 years to file a claim after an accident.

[z31maniac]

self insure.....

what happens when you get sued a couple years down the line for medical, emo, wage loss and all the other bs from an accident you were found "at fault" for?

in WA it is illegal to not have insurance (a heafty $500 minimum fine for not having it when you get pulled over) and you have up to 3 years to file a claim after an accident.

I said it in jest. The only people who self-insure are millionaires many times over.

Shheeeesssh.