Cheaper insurance
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Senior User
Joined: Jul 2004
Posts: 134
Likes: 0
From: North Carolina
Cheaper insurance
Well, I've been thinking about changing insurance companies to try and save some money. So far, with the online quotes that I've got Geico has been the cheapest, anyone have any experience with them, good or bad?
Who do you have yours with? Who's been cheapest for you? I'm currently with Nationwide, by the way. I've been licensed for almost 4 years (I'm 25 now) with no tickets, accidents or anything, knock on wood!
Also, what level of coverage should I go with? The Geico coverage calculator suggests this:
Coverage Types You Might Consider
Bodily Injury Liability(BI) $30,000 / $60,000 (North Carolina State Minimum)
Property Damage Liability(PD) $25,000 (North Carolina State Minimum)
Medical Payments(MED) I decline this coverage
Uninsured Motorist Bodily Injury $30,000 / $60,000
Uninsured & Underinsured Motorist I decline this coverage
Uninsured Motorist Property Damage $25,000
Comprehensive(COMP) $500 deductible
Collision(COLL) $500 deductible
Emergency Road Service(ERS) No
Rental Reimbursement(RR) No
Mechanical Breakdown Insurance No
This is less coverage than I have now, but would it be adequate?
Any advice would be great.
Who do you have yours with? Who's been cheapest for you? I'm currently with Nationwide, by the way. I've been licensed for almost 4 years (I'm 25 now) with no tickets, accidents or anything, knock on wood!
Also, what level of coverage should I go with? The Geico coverage calculator suggests this:
Coverage Types You Might Consider
Bodily Injury Liability(BI) $30,000 / $60,000 (North Carolina State Minimum)
Property Damage Liability(PD) $25,000 (North Carolina State Minimum)
Medical Payments(MED) I decline this coverage
Uninsured Motorist Bodily Injury $30,000 / $60,000
Uninsured & Underinsured Motorist I decline this coverage
Uninsured Motorist Property Damage $25,000
Comprehensive(COMP) $500 deductible
Collision(COLL) $500 deductible
Emergency Road Service(ERS) No
Rental Reimbursement(RR) No
Mechanical Breakdown Insurance No
This is less coverage than I have now, but would it be adequate?
Any advice would be great.
Senior User
Joined: Aug 2007
Posts: 177
Likes: 0
Your BI is low. It won't take much for a car full of 4 people to get 60k. I forget if property damage lib. is for the other car or just the sign that you run in to. I f it's for the other car, just hope you don't run into anything worth more than 25k.
If you just turned 25 your insurance should drop like a rock. When I was there the quote I got from Farm Bureau was half of what I was paying for the state min. with the other company, plus I was getting 3x the state min. coverage.
If you just turned 25 your insurance should drop like a rock. When I was there the quote I got from Farm Bureau was half of what I was paying for the state min. with the other company, plus I was getting 3x the state min. coverage.
MSEE
Joined: Apr 2004
Posts: 10,386
Likes: 35
From: Austin, TX
I have it through State Farm. Car insurance is more expensive down here in Texas than it was when I used to live in Missouri. I also have uninsured motorist coverage in case someone hits me and doesn't have insurance. 30% of cars on the road here in Texas aren't insured.
Postmaster
Joined: Nov 2004
Posts: 2,511
Likes: 0
From: Marion, VA
You need much higher limits and you need underinsured motorist coverage.
The property damage limit of $25,000 won't pay for a typical new car if you totaled one.
The $30,000 Bodily Injury coverage won't pay for a moderate hospital stay.
If you do property damage or injury to someone and you have inadequate coverage. You will be personally responsible for the excess damage which couold cost you for many yers to come and endanger any assets you may have or acquire. In many states, you can lose your driving priviledges until the debt is paid.
You need underinsured motorist coverage in case you are injured seriously by someone who has minimum limits. Your insurance will step in as if they insured the other party to take care of your injuries.
Usually, you can only buy uninsured and underinsured motorist coverage up to the coverage limits you have on your BI and PD.
The property damage limit of $25,000 won't pay for a typical new car if you totaled one.
The $30,000 Bodily Injury coverage won't pay for a moderate hospital stay.
If you do property damage or injury to someone and you have inadequate coverage. You will be personally responsible for the excess damage which couold cost you for many yers to come and endanger any assets you may have or acquire. In many states, you can lose your driving priviledges until the debt is paid.
You need underinsured motorist coverage in case you are injured seriously by someone who has minimum limits. Your insurance will step in as if they insured the other party to take care of your injuries.
Usually, you can only buy uninsured and underinsured motorist coverage up to the coverage limits you have on your BI and PD.
