Author Topic: The "Safely dropping BS items from my insurance" thread...  (Read 2035 times)

Money Badger

  • Bristles
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  • Posts: 401
The "Safely dropping BS items from my insurance" thread...
« on: February 02, 2015, 07:17:25 PM »
Realized for the 2nd time that I have been had for years by my auto and home policies...   

First step was doing the math to find $350 a uear on 3 cars worth of rental/towing/Roadside assistance.

2nd step was realizing the auto no-fault limits in my state that requires this coverage assumes I drove a Lexus and had $50K auto replacement coverage.    None of our cars is worth even $20k so some tuning here found another $600 a year. 

So basically i am still totally at same major coverage level for a $grand less.   (Punch!)

How much did you find in your policies?

halftimer

  • Stubble
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Re: The "Safely dropping BS items from my insurance" thread...
« Reply #1 on: February 02, 2015, 08:03:12 PM »
2nd step was realizing the auto no-fault limits in my state that requires this coverage assumes I drove a Lexus and had $50K auto replacement coverage.    None of our cars is worth even $20k so some tuning here found another $600 a year. 
I'm looking at insurance quotes now too. How did you find the auto no-fault limits in your state?  I have a feeling we are over insured and I want to do something about it.

marty998

  • Walrus Stache
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  • Posts: 6626
  • Location: Sydney, Oz
Re: The "Safely dropping BS items from my insurance" thread...
« Reply #2 on: February 03, 2015, 12:32:39 AM »
Dropped comprehensive cover on my car today. The cost of the premium + excess payable is higher than the value of the car. No sense in keeping it LOL.

If I'm in an accident and I'm at fault I'll still be covered for damage to third parties. But my car? Well it's worth more as scrap and I can use it as an excuse to get a new one.


Money Badger

  • Bristles
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Re: The "Safely dropping BS items from my insurance" thread...
« Reply #3 on: February 03, 2015, 11:35:21 PM »
halftimer, In my state, the no fault was added to all policies a couple of years back at "recommended" limits but it can be reduced or some aspects dropped legally.  The limits are on the county Tax registration website and might also be in the state insurance commissioner's site as well.   

My insurer had a website that allowed me to "what if" the changes.   Or call your insurer if all else fails of course for slightly gloomy views of trimming their paycheck.   Hope that helps!