Author Topic: Auto Insurance coverage help?  (Read 820 times)

triton77

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Auto Insurance coverage help?
« on: August 19, 2016, 04:57:29 PM »
I really need to look at our auto insurance coverage.  Right now we have Am Fam and it's $2800/yr for four cars.
I got a quote from Geico and it was about $1500 less but was missing some things.

This is what we have now with AM Fam:
Bodily Injury 500k/500k
Property Damage 250k
Medical Exp 10K
Uninsured motorist 500k/500k
Underinsured  motorist  500k/500k
Comp and collision on all cars with deductibles of $1000

This is the Geico quote:
Bodily Injury 250k/500k
Property Damage 100k
Medical pmts 0
Uninsured motorist 25k/50k
Under insured motorist 0
Only one car with comp/collision $1000 ded.

I think we are over insured with Am Fam but under insured with Geico. We have a umbrella policy worth 1mil.

Here are the cars all were paid with cash so no loans
2012 Toyota corolla (daughters)KBB $9600
2009 E350 Van (mine)KBB $12000
2008 Toyota Tundra (husbands)KBB $17000
2004 Toyota highlander(daughters)$8000
We have had no tickets or accidents and no claims so thats not a reason for the high amount of insurance.

We could drop collision and comp on the corolla and highlander but should we drop it on the van and truck? My husband views it as if we wreck the van or truck we would be out $17000. 
We keep our cars til death.  We have no plans to get anything else unless these die.  We live in rural WI about 45min from Madison.

Thanks for the help!
Janelle