My auto insurance is crazy high

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arsenal_fan
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Joined: Tue Nov 17, 2015 7:57 pm

Re: My auto insurance is crazy high

Post by arsenal_fan »

I'm in South Florida (FTL) as well and have the following coverage with Geico for 1 car which costs $650 / 6 months.

Property damage: $100K
Bodily injury liability: $100K/$300k
Uninsured motorist: $100k/$200k
PIP: Basic/Non Deductible
Comp: $500
Collision: $1K
Rental reimbursement: $35/day
TIAX
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Joined: Sat Jan 11, 2014 11:19 am

Re: My auto insurance is crazy high

Post by TIAX »

If you can afford to replace your car, drop comprehensive and collision.
khram
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Re: My auto insurance is crazy high

Post by khram »

arsenal_fan wrote: Sat Jun 12, 2021 11:48 pm Rental reimbursement: $35/day
Do you find rental reimbursement worth it? I guess it must be fairly cheap since your overall policy is not expensive. I tried adding it to mine (not Geico) to see what it would cost and it looked like around $40/month for $40/day of coverage.
arsenal_fan
Posts: 119
Joined: Tue Nov 17, 2015 7:57 pm

Re: My auto insurance is crazy high

Post by arsenal_fan »

khram wrote: Sun Jun 13, 2021 5:11 am
arsenal_fan wrote: Sat Jun 12, 2021 11:48 pm Rental reimbursement: $35/day
Do you find rental reimbursement worth it? I guess it must be fairly cheap since your overall policy is not expensive. I tried adding it to mine (not Geico) to see what it would cost and it looked like around $40/month for $40/day of coverage.

Hard to value that to be honest unless you need it. It costs me $14/ 6 months, so I've added it for now.
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quantAndHold
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Location: West Coast

Re: My auto insurance is crazy high

Post by quantAndHold »

You pay six times what I do for much better coverage in Southern California. The only three things I can recommend are to shop around, stop speeding, and move out of Florida.
khram
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Joined: Sat Dec 16, 2017 12:36 am

Re: My auto insurance is crazy high

Post by khram »

arsenal_fan wrote: Sun Jun 13, 2021 11:03 am
khram wrote: Sun Jun 13, 2021 5:11 am
arsenal_fan wrote: Sat Jun 12, 2021 11:48 pm Rental reimbursement: $35/day
Do you find rental reimbursement worth it? I guess it must be fairly cheap since your overall policy is not expensive. I tried adding it to mine (not Geico) to see what it would cost and it looked like around $40/month for $40/day of coverage.

Hard to value that to be honest unless you need it. It costs me $14/ 6 months, so I've added it for now.
Don't need it. $2.33/month sounds like a great deal.
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White Coat Investor
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Location: Greatest Snow On Earth

Re: My auto insurance is crazy high

Post by White Coat Investor »

Shackleton wrote: Thu Jun 10, 2021 5:44 pm
White Coat Investor wrote: Thu Jun 03, 2021 10:44 am
1030danielle wrote: Wed Jun 02, 2021 6:03 pm Seems like everyone else I talk to has far less expensive car insurance than I do.

Yes, I’ve had speeding tickets in my past (most recent in April, but before that it had been a couple years). Yes, I had a no-fault claim in the last couple years (a deer totaled my car in 2019). I am single with excellent credit. I live in South Florida. It’s a 2016 Honda CRV that I own.

Seems at these rates, I should have killer insurance, but I don’t know if I do.

Here is my most recent quote, at $1287 for 6 months ($214/month):

Property damage: $50,000
Bodily injury liability: $50k/$100k
Uninsured motorist: $50k/$100k
PIP: $10k
Comp and collision: $500 deductible
Rental reimbursement: $40/day

Thoughts?

I don’t mind paying for insurance if it’s good.

Thanks,

Danielle
Shockingly low liability coverage. Imagine hitting someone driving a Tesla X who makes $800K a year. How far is your $50K in coverage going to go there? I carry 100 times as much liability coverage as you.
I’m curious which auto insurance company sells $5M/$10M liability coverage. I’m thinking you meant to say 10 times as much liability coverage.
You can think what you want, but I spoke precisely. Most auto companies will sell you a $5M umbrella liability policy on top of your auto coverage.
1) Invest you must 2) Time is your friend 3) Impulse is your enemy | 4) Basic arithmetic works 5) Stick to simplicity 6) Stay the course
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White Coat Investor
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Location: Greatest Snow On Earth

Re: My auto insurance is crazy high

Post by White Coat Investor »

[quoted post and reply removed by admin LadyGeek]

At any rate, for all intents and purposes an umbrella policy IS just a big auto liability policy. 80% of umbrella claims are auto-related.
1) Invest you must 2) Time is your friend 3) Impulse is your enemy | 4) Basic arithmetic works 5) Stick to simplicity 6) Stay the course
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