Liability or Full Coverage Insurance?

[SeeingSpots]

SeeingSpots, according to my insurance lady, Collision only covers what I hit. If I hit a deer, then I'm covered, but if I were to slide off the road and hit a tree, then I would not have coverage. I'm not sure what my liability is. I'll call and find out though. Thanks!

I don't want to talk dirt on your agent, but that is 100% incorrect. Collision is any physical damage caused by colliding with another tangible object while either in-motion or stationary. Whether that's a deer, car, or a parking cone, that all is classified as collision. If someone hits YOU while you're stationary and they're moving - it's still considered Collision.

Comprehensive is everything other than collision - IE vandalism, theft, hail, etc...

Like I said.....lots of bad advice out there.

 

[SeeingSpots]

SeeingSpots - given your past experience in the business, what insurance company (companies?) would you recommend doing business with?

Hey Mike,

It really depends on the State you're in. Most major insurance carriers have regional companies that have their own rates and underwriting guidelines. For instance, Nationwide has a branch in Colorado called Allied. Liberty Mutual has Safeco and Colorado Casualty. All of them operate independently and have their own bells and whistles.

Also, the rates are contingent upon how many lines of coverage you have with the same carrier; like homeowners/renters, auto, life insurance, etc...The more you buy, the more multi-line credits you get. Kind of like Kohls...lol

The best thing you can do is partner with a qualified and local Independent agent that represents many different carriers. They use a system called EZ-Links that takes your information and blasts it out to all of the insurance companies that they represent. The smart insurance shopper always gets a list of what carriers an agent has, because not all agents have contracts with every carrier. Generally, the larger the agency, the more carriers they have access to.

Personally, I like USAA (if you have access to them), Auto Owners, Chubb Financial (if your home is valued above $500k), Amica, and Fireman's Fund. The one's to stay away from, in my opinion, are any direct carriers like State Farm, Farmers, American Family, and All State. In my experience, they have the worst claimant satisfaction ratings of all of the insurance companies in the US.

I hope this helps.

 

[dieselenthusiast]

I don't want to talk dirt on your agent, but that is 100% incorrect. Collision is any physical damage cause by colliding with another tangible object while either in-motion or stationary. Whether that's a deer, car, or a parking cone, that all is classified as collision. If someone hits YOU while you're stationary and they're moving - it's still considered Collision.

Comprehensive is everything other than collision - IE vandalism, theft, hail, etc...

Like I said.....lots of bad advice out there.

Are you sure? A quick google shows how Allstate classifies an accident when hitting a deer.

http://www.allstate.com/tools-and-resources/car-insurance/handling-a-deer-accident.aspx

"As far as your auto insurance company is concerned, hitting a deer is typically a covered loss. Comprehensive coverage typically provides this protection and often actually stipulates that collision with a bird or animal is covered. Some states may let you choose whether you want to have these losses paid under collision or comprehensive coverage. Since this is a not at "fault" type of loss, your insurer is likely to process this through your comprehensive insurance coverage."

 

[SeeingSpots]

Are you sure? A quick google shows how Allstate classifies an accident when hitting a deer.

http://www.allstate.com/tools-and-resources/car-insurance/handling-a-deer-accident.aspx

"As far as your auto insurance company is concerned, hitting a deer is typically a covered loss. Comprehensive coverage typically provides this protection and often actually stipulates that collision with a bird or animal is covered. Some states may let you choose whether you want to have these losses paid under collision or comprehensive coverage. Since this is a not at "fault" type of loss, your insurer is likely to process this through your comprehensive insurance coverage."

My agency in Colorado Springs operated in 41 States and I've never heard that definition before. Then again, All State is a direct writer and independent agents (like me) cannot offer their product; so they may have some funky way of how they process their claims. But my CIC training has always described the difference between to the two incidents like a I stated above.

 

[MT Mike]

Hey Mike,

It really depends on the State you're in. Most major insurance carriers have regional companies that have their own rates and underwriting guidelines. For instance, Nationwide has a branch in Colorado called Allied. Liberty Mutual has Safeco and Colorado Casualty. All of them operate independently and have their own bells and whistles.

Also, the rates are contingent upon how many lines of coverage you have with the same carrier; like homeowners/renters, auto, life insurance, etc...The more you buy, the more multi-line credits you get. Kind of like Kohls...lol

The best thing you can do is partner with a qualified and local Independent agent that represents many different carriers. They use a system called EZ-Links that takes your information and blasts it out to all of the insurance companies that they represent. The smart insurance shopper always gets a list of what carriers an agent has, because not all agents have contracts with every carrier. Generally, the larger the agency, the more carriers they have access to.

Personally, I like USAA (if you have access to them), Auto Owners, Chubb Financial (if your home is valued above $500k), Amica, and Fireman's Fund. The one's to stay away from, in my opinion, are any direct carriers like State Farm, Farmers, American Family, and All State. In my experience, they have the worst claimant satisfaction ratings of all of the insurance companies in the US.

I hope this helps.

Thanks, that is pretty much what I am looking for. I do have access to USAA, but if I switched to them my rates would actually go up. My wife and I have been on Farm Bureau for 8 years together, and she has been with them since she could drive (18 years total). We have all of our vehicles, home, life, etc with them. Our agent gives us every discount possible, and they have always taken really good care of us. I was just curious to see if they'd be on your "do not use" list.

 

[SeeingSpots]

Thanks, that is pretty much what I am looking for. I do have access to USAA, but if I switched to them my rates would actually go up. My wife and I have been on Farm Bureau for 8 years together, and she has been with them since she could drive (18 years total). We have all of our vehicles, home, life, etc with them. Our agent gives us every discount possible, and they have always taken really good care of us. I was just curious to see if they'd be on your "do not use" list.

You know, I really do not have any experience with Farm Bureau. They don't have a huge presence in Colorado and I've never personally done any business with them.

But the most important thing is that you have a good relationship with your agent and they're treating you right. Having a great agent that you trust is far more important than saving a few bucks in premium. If they're good, they will go to bat for you, and there's a TON of back office stuff that clients never know about. So if they're doing you right, I'd say never switch unless you have a catastrophic meltdown with something.

 

[MT Mike]

You know, I really do not have any experience with Farm Bureau. They don't have a huge presence in Colorado and I've never personally done any business with them.

But the most important thing is that you have a good relationship with your agent and they're treating you right. Having a great agent that you trust is far more important than saving a few bucks in premium. If they're good, they will go to bat for you, and there's a TON of back office stuff that clients never know about. So if they're doing you right, I'd say never switch unless you have a catastrophic meltdown with something.

:thumbup: Perfect! Thanks for the input. I've always told my wife that if things go south with our current coverage we WILL switch to USAA. Until then, we will stay where we are.

 

[dieselenthusiast]

My agency in Colorado Springs operated in 41 States and I've never heard that definition before. Then again, All State is a direct writer and independent agents (like me) cannot offer their product; so they may have some funky way of how they process their claims. But my CIC training has always described the difference between to the two incidents like a I stated above.

We live/work/drive in a healthy mule deer and elk population, so my insurance lady is pretty well versed in that policy. She told me that she gets calls nearly every week regarding someone who hit some type of animal. I'm surrounded my reservation, so you can imagine how many people hit cows, horses, sheep, goats, etc. At least with my insurance company (Progressive), deer fall under comprehension since this is a, "not at fault" type of loss.

 

[Glenn B]

Odd. When I talked to them, he asked if I had any modifications. I told him I did. $5000.00 in lift, wheels and tires. He added it to my account:
(hopefully I do not have to find out how well that works out... LOL)

Customizations
Vehicle has been modified or enhanced with permanently installed equipment

Thanks.

I just got off the phone with Geico and here's what they told me:

If the value of the customizations are over 50% of the value of the vehicle they will only cover 10% of the customizations.

Me:
- Vehicle = About $1500
- Customizations = $7000. I sent them a detailed spreadsheet and they said no on almost every item except the lift kit and tires/wheels. The person even asked a supervisor.

Geico, "We will not cover most of those items." Even if they did cover every item it would only be $1500 + (10% * $7500). "And a Jeep is not considered a classic car so they won't do that either."

If there's any more details how you got your Jeep covered I'd love to know since theft is my biggest concern.

 

[GSequoia]

Okay since it's quiz time...


I've always wondered if uninsured motorist coverage typically covers a hit and run while moving or parked.

 

[SeeingSpots]

Okay since it's quiz time...


I've always wondered if uninsured motorist coverage typically covers a hit and run while moving or parked.

You're in California. Everything in California is strange...lol

In Colorado, if your vehicle is involved with a hit & run accident and there is no bodily injury, then it falls underneath Collision.

All the Uninsured/Underinsured Motorist endorsement covers is the liability for any personal injury caused by someone who either leaves the scene or is underinsured to cover those medical expenses. The physical damage to your car is completely separate.

Is that clear as mud? But then again, California may have some crazy statute that disproves everything that I just said. Best bet would be to ask a licensed agent in California. Cali was one of the States that I never got appointed in.

 

[GSequoia]

UI coverage covers collision damage here as well when moving at least. I was involved in a wreck driving my mom's Camry that was at hte time still insured on my grandfather's State Farm account. The vehicle had liability + UI. A driver fleeing from the police in a stolen car ended up taking two cars out then me. State Farm fixed it under UI. Next time I talk to AAA, my insurer, I'll ask them.

 

[SeeingSpots]

UI coverage covers collision damage here as well when moving at least. I was involved in a wreck driving my mom's Camry that was at hte time still insured on my grandfather's State Farm account. The vehicle had liability + UI. A driver fleeing from the police in a stolen car ended up taking two cars out then me. State Farm fixed it under UI. Next time I talk to AAA, my insurer, I'll ask them.

With California, Washington, New York, and Wyoming, insurance laws get really weird. That's why we stayed away from those States. We wouldn't be doing anyone any favors by giving them giving them inaccurate advice. Unless an agent lives in those states and is constantly on top of law changes, it's really risky to write policies - especially New York State. It seems that their Department of Insurance is constantly changing rules.

I work in the Commercial side of the industry so our statutes don't really change that much.

 

[bjoehandley]

I'm kinda curious about something and can't really get any straight answers from anybody local, other that go liability only on my XJ.

Besides my now 160k mile 1998 XJ Limited (typical 4.0/AW4/242, with trailer package and no ABS) I bought a 2012 Chrysler 200 Touring with the 283hp V-6/6-Speed, factory 18" wheels, and the basic hard drive equipped radio new (left dealer with 60some miles, now is close to 21.5k) and it's otherwise pretty stripped down for a Chrysler. Despite the age difference (literally almost 14 years to the day!), the XJ is still within $100 of the 200 for yearly insurance costs. The coverage on the two is identical, both are on the same account and have most of the same discounts (the 200 does have a factory alarm, no matter the trim level), but the Jeep does have a speeding ticket on it from '04 and was broken into (back window smashed out, $1000+ worth of stuff taken out of it) a few months later in '05. I was in a hit and run in my 200, nothing major but I did report that on insurance (under $600 damage, and my deductable is $500, it's not yet fixed), but they haven't raised my insurance yet either.

Any idea why the insurance on the XJ is nearly as much as the 200's?

 

[old_man]

I was looking into coverage on my rig a couple of years ago just for theft. My insurance guy was a car guy and recommended a fixed price coverage used on hotrods. It covers theft and fire only. If I remember right it was around $25 a month for a stated value around $20k that it would take to replace it.

 

[dieselenthusiast]

It makes it hard for those of us who take care of our older vehicles, drive them, depend on them, update them with new parts, modifications, etc. They have a lot of value to us, both intrinsic value and monetary value. However, they are worth very little in the general market. At some point, you have to add additional coverage or take a loss if something significant were to happen.

 

[USMCGunrock]

It makes it hard for those of us who take care of our older vehicles, drive them, depend on them, update them with new parts, modifications, etc. They have a lot of value to us, both intrinsic value and monetary value. However, they are worth very little in the general market. At some point, you have to add additional coverage or take a loss if something significant were to happen.

That is so true :-( Looking at the average prices around here, which I know my insurance (USAA) will be looking over when it's time to pay up I might get between $2500-3000 after my $1000 deductible. Average price for used XJ's here, all between 150k-200k miles is about $3000-4500.

My XJ is my DD, my workhorse, that I use to travel everywhere to different job sites. Yes, it is only worth about $3000 on the market but it's priceless to me. I spend half of my waking hours in it and I joke around how I spend more time with it than my wife. HECK! I ride it more than my wife! LMAO

It's sad to say but I might get a WJ instead of an XJ...just don't want to be reminded. Maybe my insurance provide a fixed rate type as Old_man mentioned.

 

[RNMCGUIRE]

I have USAA full coverage on my 2000 XJ and it costs me $341 every six months. That's with a $500 deductible and I'm 40 years old with a decent driving record. I believe it's about $30 more a month with the full coverage.

 

[Ivan]

I take a look at auto insurance in a different light.

I have a $1 million umbrella coverage on both my vehicles. Not so much to cover the vehicles themselves, but more so to help protect my other assets (i.e. home, savings, 401k, etc) in case I get sued for causing an accident.

I've got more to lose in terms of other assets, than a 98 XJ and a 98 Nissan Maxima...

The kicker on my policy is that at the time I bought it (both new cars) I also had a "full value replacement clause" added to my policy. What this means is that I would get either a brand new XJ or Maxima (or comparable vechicle); if either gets totaled. This insurance adder coverage costs me $7 a month for both vechicles.

The train of thought from the insurance company is that most people don't keep cars beyond 5 years, and full replacement risk is low. Insurance companies just don't bank on folks like me holding on to their vehicles for so long...

I spoke with my agent a short while back just to confirm this coverage adder was still valid on my policy. It is. In fact, she told me they just processed as similiar claim where a guy with a 2004 Camry totaled his car, and he was provided a 2013 comparably equiped replacement.... saaaaweeeet!

 

[dieselenthusiast]

A few days ago a friend of mine advised me to get "umbrella insurance" for the exact same reason that you noted.

Our travel trailer also has the full value replacement clause.