How much do you know....
- Thread starter Gaarawar
- Start date
Tiveria
Sheeptastic!
<div class='quotetop'>QUOTE(Fluffy @ Nov 28 2006, 10:56 PM) [snapback]134985[/snapback][/center]
My mother would kill me if I got any of these wrong - she's an insurance company executive. Of course, she deals with large companies and their insurance - worker's comp insurance, for example. She helps the company decide if they should cover that company or not based on key risk factors. It's pretty cool. (They work with companies like Buffets, Inc., Enterprise Rent a Car and Danaher.)
My mother would kill me if I got any of these wrong - she's an insurance company executive. Of course, she deals with large companies and their insurance - worker's comp insurance, for example. She helps the company decide if they should cover that company or not based on key risk factors. It's pretty cool. (They work with companies like Buffets, Inc., Enterprise Rent a Car and Danaher.)
<div class='quotetop'>QUOTE(Voren @ Nov 29 2006, 06:27 AM) [snapback]135012[/snapback][/center]
Honestly, it's more a matter of what you can afford. I know some people just need to be legal and that's all they can handle. But honestly, you need good coverage period. In some cases, the difference between $15,000 and say $300,000 worth of coverage is maybe $100 a year. Would you rather pay an extra $100 a year or would you rather pay yearly on the balance of $285,000 you owe someone if you hurt someone that badly. With today's medical costs, that doesn't take a whole lot.
Honestly, it's more a matter of what you can afford. I know some people just need to be legal and that's all they can handle. But honestly, you need good coverage period. In some cases, the difference between $15,000 and say $300,000 worth of coverage is maybe $100 a year. Would you rather pay an extra $100 a year or would you rather pay yearly on the balance of $285,000 you owe someone if you hurt someone that badly. With today's medical costs, that doesn't take a whole lot.
<div class='quotetop'>QUOTE(Gaarawar @ Nov 29 2006, 02:41 PM) [snapback]135048[/snapback][/center]
I have never been in a wreck and ive been driving for 13 years. I really cant afford to pay for insurance and kinda see it as being just a prvatized form of tax leved agaisnt consumers so I try not to get any more than I have to.
<div class='quotetop'>QUOTE(Voren @ Nov 29 2006, 08:50 PM) [snapback]135128[/snapback][/center]
It's unfortunate you feel that way. I truly hope you don't get in a serious accident. Despite what people think, insurance is meant to protect your lifestyle and future. Insurance is a service industry that actually doesn't make money off your premiums. The money you pay goes to pay for claims and the claims process as well as administrative costs. Only a few pennies on each dollar are actually any kind of profit and some companies actually write premiums at a loss. The reason being, they make their money by investing your premiums and keeping the interest. The companies that have the biggest profits are those that know how best to invest while keeping your rate as low as they can.
It's unfortunate you feel that way. I truly hope you don't get in a serious accident. Despite what people think, insurance is meant to protect your lifestyle and future. Insurance is a service industry that actually doesn't make money off your premiums. The money you pay goes to pay for claims and the claims process as well as administrative costs. Only a few pennies on each dollar are actually any kind of profit and some companies actually write premiums at a loss. The reason being, they make their money by investing your premiums and keeping the interest. The companies that have the biggest profits are those that know how best to invest while keeping your rate as low as they can.
).
deekistheman
New member
I'm an insurance agent first off.
Your liability limits should be set to at least $100,000/$300,000/$100,000 just in case you hit someone and it does serious damage to them let alone their vehicle. What that means is that it will pay out a total of $100,000 per person up to a total of $300,000. If you get into a wreck and cut someone's arm off or they have serious injuries do you really think that $100k is going to fix them? What if you hit an old lady driving a $50k mercedes? They will then put a lein on your house, sue you, garnish wages, etc (especially if you were under the influence of alcohol or drugs).
Uninsured motorists (aka: Underinsured motorists) pays for damage taht someone does to you and they either do not have insurance or not enough insurance to fix you or your car.
Collision insurance covers loss to the insured person's own auto caused by its collision with another vehicle or object.
Comprehensive insurance covers damage to a vehicle caused by an event other than a collision or overturn. Examples include fire, theft, vandalism, and falling objects.
As a personal reccomendation, I would say to buy the $100,000/$300,000 with either $500 or $1000 deductibles and get an umbrella policy that has either a $1,000,000 or $2,000,000 limit. They cover all your insurance policies (home, auto, watercraft, recreational, jewelry, etc). They are pretty cheap and if you have a wife and/or kids it would be very safe to do so, especially if you have a teenager driving.
Basically you don't want one messup to cause you your house, job, cars, etc.
So to answer your poll,
Question #1 = Choice #3 (it is not a "total" package as it does not cover all risks/perils)
Question #2 = Choice #1 & #2* #3**
Question #3 = Choice #2 & #3
*depends on the state. If someone hits you but does not have insurance (or enough insurance) you insurance company will kick in to pay their bills.
**yes it is a pool of money but it only pays for people who their customers are hit by.
And if you want insurance and live in GA, AL, FL, NC, SC, TN, or KY, go to www.Dwardinsurance.com and you can submit a quote and I will get back to you on monday or tues
Your liability limits should be set to at least $100,000/$300,000/$100,000 just in case you hit someone and it does serious damage to them let alone their vehicle. What that means is that it will pay out a total of $100,000 per person up to a total of $300,000. If you get into a wreck and cut someone's arm off or they have serious injuries do you really think that $100k is going to fix them? What if you hit an old lady driving a $50k mercedes? They will then put a lein on your house, sue you, garnish wages, etc (especially if you were under the influence of alcohol or drugs).
Uninsured motorists (aka: Underinsured motorists) pays for damage taht someone does to you and they either do not have insurance or not enough insurance to fix you or your car.
Collision insurance covers loss to the insured person's own auto caused by its collision with another vehicle or object.
Comprehensive insurance covers damage to a vehicle caused by an event other than a collision or overturn. Examples include fire, theft, vandalism, and falling objects.
As a personal reccomendation, I would say to buy the $100,000/$300,000 with either $500 or $1000 deductibles and get an umbrella policy that has either a $1,000,000 or $2,000,000 limit. They cover all your insurance policies (home, auto, watercraft, recreational, jewelry, etc). They are pretty cheap and if you have a wife and/or kids it would be very safe to do so, especially if you have a teenager driving.
Basically you don't want one messup to cause you your house, job, cars, etc.
So to answer your poll,
Question #1 = Choice #3 (it is not a "total" package as it does not cover all risks/perils)
Question #2 = Choice #1 & #2* #3**
Question #3 = Choice #2 & #3
*depends on the state. If someone hits you but does not have insurance (or enough insurance) you insurance company will kick in to pay their bills.
**yes it is a pool of money but it only pays for people who their customers are hit by.
And if you want insurance and live in GA, AL, FL, NC, SC, TN, or KY, go to www.Dwardinsurance.com and you can submit a quote and I will get back to you on monday or tues
<div class='quotetop'>QUOTE(Vix @ Dec 2 2006, 09:45 AM) [snapback]135467[/snapback][/center]
ROFL....I'm an agent too...but I wasn't advertising, just curious. I do Internet Sales for a nationwide company and am licensed in 30 States. I just get frustrated sometimes with the response I get from customers and was curious if it was just the people that I was talking to that don't understand or if it is a general issue in regards to knowledge about insurance.
ROFL....I'm an agent too...but I wasn't advertising, just curious. I do Internet Sales for a nationwide company and am licensed in 30 States. I just get frustrated sometimes with the response I get from customers and was curious if it was just the people that I was talking to that don't understand or if it is a general issue in regards to knowledge about insurance.