Sadly no one replied this entry in "Journals" so I'll ask it here
So bit of a setback this week - I said in a previous post that I really should be getting rid of my car 2000 Hyundai Elantra 127k miles. Average condition cosmetically, runs fine mechanically. Well since walking/public transit meets a good 80-85% of my needs I considered getting rid of it but wasn't quite ready to yet. Well the decision's been made for me.
Got into a car accident last Friday. Basically the driver in front of me slammed the brakes - I did too but not fast enough. Crappy conditions - dark, rain, traffic. For the record, I was NOT texting, talking on the phone or under the influence. His Ford Escape had minimum damage but my poor little car was done for.
In rare twist of good fortune I had just switched insurance to Metromile and I got a rate of $1.25/day + 5.6 cents/mile. For about $10-13 less a month, I got higher liability limits plus comprehensive, collusion, and rental reimbursement. Before I only had liability.
After my $250 deductible my check for the value of the car will be $1500 (going right to the student loan). There was minor damage to the other dude's car but well under my limit and thankfully no injuries.
I'm trying to be grateful since no one was hurt and this is annoying but not a financial hardship. Also at least now I'll get a little bit of money since before I would have totally SOL. I'm just a little annoyed because I had just put money in it. $325 for a new timing belt in Nov +$13 for new wiper blades in Dec + $35 for gas THAT day. I have to just keep telling myself "sunk costs, sunk costs...."
Since walking/public transit covers me for the most part it won't be a huge adjustment. I'll look to Zipcar, car2go (like Zipcar but can rent one way), non airport car rentals, UberX and the occasional ride from a friend to make up the difference. My average use pre-accident was 4-5x/month and I was spending quite a bit for a paid off car to sit unused 87% of the time. Insurance $680 (prior coverage) + Registration $88. Add in oil changes, repairs and gas, total costs were more than $1200/year. I'd have to go crazy to spend that much now.
Ok topic - so what will this mean for insurance if/when I own a car in the future? Was a customer for 30 days. Got in an accident (ruled my fault) that totaled my car. After car value is paid and the claim is settled (let's say 60 days from accident), I cancel. So they get 3 months of premiums (about $120) and pay out a few thousand then I quit. Will I end up on some car insurance enemies list?