Little Driven Car Insurance

[patrick232]

Insurance is all a balancing act on what you need vs want. A great independent agent will work with you on this and advise different companies policies for different reasons, it's what they do. Even when buying a new car it doesn't hurt to ask about what impact certain cars have. When our oldest started driving I looked into leasing a new Cruze vs buying an older Honda. Insurance for him was a difference of about $25 a month between the cars.

[sandm]

Lots of wayward advice on here so far. It's not always about saving money.

I would love to hear the logic on why someone should pay $xxx/yr more for apples to apples coverage with company x vs company y.
taking into account self employed or own a small business I get a long term relationship with a specific agent and some online only companies like the general could have some challenges should you have a claim(benefit of a local agent) but otherwise if agent john at x is going to save you xx over agent mary at company y, why not.
patrick is correct in that if you have a good INDEPENDENT agent with a very wide portfolio of companies to sell to, if doing their job, should be able to steer you into a policy that fits the needs and saves you money switching to a different brand if needed. if the OP is with a state farm agent, the only answer he will get is how the insurance is a great deal.

[MLA]

Lots of wayward advice on here so far. Reducing limits etc when your premium is only $500 a year is crazy.


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Not sure im seeing where it was suggest to reduce limits. In fact, it was recommended to NOT reduce liability limits. Dropping unneeded coverage is sound financial advice. But as expected, the collision is not the bulk of the premium, but rather the liability is, which again, was suggested to NOT reduce.

I do agree though that you should take advice with a grain of salt. The internet can be a fickle mistress. You never know when someone on the other end of that keyboard is a retired agent whose wife owned her own book of business.

[mmandley]

I have Allstate and on my Vette I would suspend the insurance when winter came along.

Basically I call and say suspend it, its still insured while at my house for anything that happens, you just cant drive it.

When I wanted to drive for a day, up to 6days I called and they activated it. Once I was done I called and they suspended it again.

I would do this all winter on my Vette and never pay a monthly amount on it. I just paid my insurance for the daily drivers.

In the summer I would activate it and pay the monthly.

Basically I paid 250-300 a year for Vette insurance.

Only kicker you have to have it paid off, and you have to call them all the time.

[russellsmojo]

Not sure im seeing where it was suggest to reduce limits. In fact, it was recommended to NOT reduce liability limits. Dropping unneeded coverage is sound financial advice. But as expected, the collision is not the bulk of the premium, but rather the liability is, which again, was suggested to NOT reduce.

I do agree though that you should take advice with a grain of salt. The internet can be a fickle mistress. You never know when someone on the other end of that keyboard is a retired agent whose wife owned her own book of business.

Hey man, apology. I read your comment around liability limits as a suggestion for him to do. An action that he needed to take.

Goes to show how keyboards can make giving advice hard sometimes!!




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[MLA]

Hey man, apology. I read your comment around liability limits as a suggestion for him to do. An action that he needed to take.

Goes to show how keyboards can make giving advice hard sometimes!!




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no worries, simple misreading. We were always huge advocates of higher then min liability so you could get un/under rider. With costs of new cars and a trip to the ER, minimum liability on the 83 ford escort that rear ended you knocking you into another car, would leave you holding the bag.

[sandm]

I would suspend the insurance when winter came along.


Only kicker you have to have it paid off, and you have to call them all the time.

I have done this same basic thing with my gencoupe the last 2 winters. silly to even attempt to drive a rwd car in wisconsin in the winter. bank had me submit a "storage clause" indicating that it was in storage and I was able to drop liability and collision. bank requires comprehensive since there's a lien on it. so you can do it to an extent on a financed vehicle. cut out a significant portion of the insurance due on it as collision/liability are the majority of the $$ on my policy.
was going to do that with the bike as well only cancel it completely as it was owned but my liberty mutual agent at the time told me that it would be a very grey area to try and claim any homeowners issues on a motor vehicle. said it would be tough to get a claim through. don't know if there's any truth to it but I can see why he would say it.

[ghebert1111]

I have Allstate and on my Vette I would suspend the insurance when winter came along.

I talked to my State Farm guy's assistant about this last week and got the thumbs down. I think I need to chat with my actual State Farm guy and see what he says.

[mmandley]

I talked to my State Farm guy's assistant about this last week and got the thumbs down. I think I need to chat with my actual State Farm guy and see what he says.

I have never switched to State Farm because they are too strict on everything.

They were a nightmare to deal with when their customer totaled my Vette.

[996scott]

I have Allstate and on my Vette I would suspend the insurance when winter came along.

Basically I call and say suspend it, its still insured while at my house for anything that happens, you just cant drive it.

When I wanted to drive for a day, up to 6days I called and they activated it. Once I was done I called and they suspended it again.

I would do this all winter on my Vette and never pay a monthly amount on it. I just paid my insurance for the daily drivers.

In the summer I would activate it and pay the monthly.

Basically I paid 250-300 a year for Vette insurance.

Only kicker you have to have it paid off, and you have to call them all the time.

Exactly what I do with one of my cars. I put it away for the winter and have full coverage (Bear River) taken off. The car is still covered if anything happens to it in the garage, I just can't drive it. When spring comes, I have full coverage put back on and I'm good to go.