What Do You Have For Auto Insurance?

**bobh33** · 08-16-2009, 03:48 PM

Help again and thanks again! What do you guys have for your deductibles on your vehicles. I'm leaning towards $500.00 for both.

**chadm** · 08-16-2009, 03:52 PM

I go $500 minimum deduct. If it is less, in the long run it seems to be better to just pay the small claims yourself.

**Kyle** · 08-16-2009, 04:03 PM

500 deductibles where applicable. I've found progressive to be the cheapest both times I've done comparison shopping. They have also done alright on the few occasions I've had to deal with them. I would recommend Clem Insurance Services if you are in Ames.

**dmclone** · 08-16-2009, 04:17 PM

I've went with $1,000 deductible for the last 10 years. This saves me roughly $200/year and I haven't had a claim besides a windshield, which you don't need a deductible for, so it's saved me $2,000. If I ever do get in an accident I will still be at least $1,500 ahead.

I guess if you plan on having a lot of accidents and/or don't have $500.

**swammi** · 08-16-2009, 04:19 PM

$500 deductible is good, IMO. Be sure you carry enough liability. Many state req'd mins are not really sufficient.

**dmclone** · 08-16-2009, 04:22 PM

I just checked my insurance. 2 new cars worth about $50K combined and a 2004 sportbike and my bill is roughly $1,300 year. Is that above or below normal?

**cytech** · 08-16-2009, 04:59 PM

I have 3 trucks and a couple trailers on my insurance policy. For my new truck 08 silverado I pay just under $50 a month for full coverage with Pekin Insurance. That is with $500 deductables. The 07 and 02 silverados are both less than my new one I think I pay about $125 a month for full coverage on all plus the dump trailer.

I carry my business liability, workmans comp, and my umbrellea policy with them too so that plays into the amount for the auto insurance.

**HiltonMagic** · 08-16-2009, 05:09 PM

car insurance is a ******* ripoff down here in LA. Not sure why exactly, but it's really expensive.

**dmclone** · 08-16-2009, 06:49 PM

Originally Posted by HiltonMagic

car insurance is a ******* ripoff down here in LA. Not sure why exactly, but it's really expensive.

Accidents, thefts, people texting while driving, expensive vehicles, uninsured drivers,etc

**Phaedrus** · 08-16-2009, 06:50 PM

I fixed the whole deductible issue by owning three cars worth a total of $6000.

It works for me.

**dmclone** · 08-16-2009, 08:22 PM

Originally Posted by Phaedrus

I fixed the whole deductible issue by owning three cars worth a total of $6000.

It works for me.

There is the correct answer.

Someone has to be the person who buys new cars so people like you can get good deals.

**bugs4cy** · 08-16-2009, 09:18 PM

Three vehicles with Progressive. $1,050 every 6 months. $500 deduct, I think. We're high mileage drivers - easily hitting 75K miles a year.

Have had one claim with Progressive about 18 mo ago (deer attacked Audi) and have no complaints with how it all worked out. [Amazing, no?]

**cyQlone** · 08-16-2009, 09:23 PM

The amount you pay for deductibles isn't really that much of a difference. Like somebody posted above, just make sure you have above state minimums for Property Damage(PD) and Bodily Injury(BI). I work for an insurance company and have seen too many times people get into a multi-car accident and not have enough coverage and have to come up with a lot of money out of pocket. Iowa PD minimum is 15,000, just think if you total a brand new veh work 50,000. Guess who gets to come up with 35,000?

**Clones85'** · 08-16-2009, 09:50 PM

Always put your liability limits up to at least 100K per person, 300K per accident w/ 100K Property Damage.

If you own a home I would look into raising those limits and maybe getting a million dollar umbrella policy

As for the deductible, every case is different but I wouldn't go under 500 on either comp or collision

**tigershoops31** · 08-16-2009, 10:03 PM

A couple of tips that have regularly saved me a bunch of money in the past:

1) For car insurance, it seems every few months you can find cheaper insurance than what you currently have. It pays to check quotes regularly as I have switched probably 5-6 times in the past several years, always for a sizeable savings...

2) This is unrelated to the OP's question, but if you carry a credit card balance you should call in often and ask for a lower APR. I was amazed to find that they are usually pretty agreeable if you have paid at least your minimum payment on time regularly. If they are unwilling to lower it, letting them know that you received an offer from another company for 0% balance transfers and a lower rate usually gives them the extra push it takes to lower your rate. I haven't carried a credit card balance for a few years now, but this helped me to get out of CC debt and I know a lot of people don't know this...