quote:

"oh no, it's a bad idea, in this litigious society you could be in one accident but have a garnishment attached to every paycheck for the rest of your life because your coverage wasn't adequate".

LOL, what? I'm hoping he misunderstood what you were asking of him, because collision and comp and in no way tied to your liability coverage. And if it wasn't a misunderstanding, I'd be finding a new broker ASAP.

Depending on how much your comprehensive coverage costs, it might be worth keeping to get the glass coverage. Although I'm not sure how PA does glass coverage. Here in MA, if you have comp, you have glass covered with no deductible. If you have something similar I'd recommend keeping that coverage.

Collision can likely be taken off for that vehicle as it isn't worth much anymore.

And as others have said, I'd recommend at least 100/300 or 250/500 coverage for bodily injury, and at least $100k in coverage for property damage.

On top of that, you should have an umbrella policy for at least $1mil. Umbrella policies are stupid cheap for the coverage you get and well worth the money. It is very easy to rack up hundreds of thousands of dollars, or even a million dollars for a serious injury or fatal accident. And while you may think that will never happen, they do.

This message has been edited. Last edited by: ryan81986,

I've gone the route of dropping collision.

39 years behind the wheel I've had zero collision claims, and six comprehensive claims, five of which were deer strikes two of which totaled the car all were in excess of $3000.

This doesn't include the deer I've hit while on the job, I've at least a dozen of them.

You want to insure yourself for at least whatever your net worth is. You, for example, own a couple of properties. Me, I have one step above the minimum, because my assets are, well, limited.

Very interesting thread with some good info. This is why Sigforum is the best place on the web (Thank you Para!)

I already sent an email to my broker asking questions about increasing my auto liability coverage and/or increasing the amount of my umbrella policy.

As a side note, my broker has been less than helpful on prior inquiries. This is going to be his last chance. If I don't get some good input in a timely manner, it's time to shop for new insurance.

quote:

Property Damage Liability (PD)
This coverage is for when you damage someone else's property with your vehicle. Usually it's someone's car, but it can apply to other property such as buildings, utility poles, fences and garage doors.

I suspect for many folks who've not paid attention, or have umbrella coverage, this is a place where they've got exposure due to low limits.

Even in MS, I drive amongst a lot of $75-150K+ cars. Plowing into one, or worse several, of those could leave you wishing for more than a $50-100K limit of this coverage.

quote:

On top of that, you should have an umbrella policy for at least $1mil. Umbrella policies are stupid cheap for the coverage you get

Agreed, and go ahead and ask for premiums on the various limits. While unlikely you'll need $2-5MM, the pricing difference to $1MM is remarkably small.

quote:

Originally posted by reflex/deflex 64:
I've gone the route of dropping collision.

39 years behind the wheel I've had zero collision claims, .......

Same here. Well, I had one collision claim in 1987, where I was paid under $400.

I also had a broken windshield, from gravel damage. The auto glass place quoted $499 for replacement under my policy. I called Progressive Insurance, and they helpfully pointed out that I had a $500 deductible. I went back to the auto glass company, and said I would not be using my insurance. They reduced the replacement glass cost to $250. The next policy renewal bill showed a 40% increase in my comprehensive coverage. When I called to ask why, they told me it was because a had made a claim when I called to ask if I had coverage, and when you make a claim your rates go up.

Now I only have collision/comprehensive coverage on my 2016 vehicle. The other vehicles are 2004 and older, so I self insure them.

I recommend an umbrella policy as well as the highest liability coverage offered under your auto policy.

I also recommend that you find a new insurance agent.

quote:

Originally posted by CoolRich59:
Very interesting thread with some good info. This is why Sigforum is the best place on the web (Thank you Para!)

I already sent an email to my broker asking questions about increasing my auto liability coverage and/or increasing the amount of my umbrella policy.

As a side note, my broker has been less than helpful on prior inquiries. This is going to be his last chance. If I don't get some good input in a timely manner, it's time to shop for new insurance.

Been two days since I sent my email to my State Farm agent and still no response. (I didn't even count Saturday, even though he has office hours that day).

I have a call with an Amica agent later today, and will be getting one or two other quotes. Even if I stay with State Farm, I am going to see if I can move to another agent.

I went back and looked at the wording of my message to him and I think there was a misunderstanding here.

What I MEANT to say: "I'd like to drop things like collision and comprehensive and just keep the liability coverage I have (which I confirmed is 100/300) and save a couple bucks on this old car."

What HE read: "I want to drop EVERYTHING but the very bare minimum as required by law liability coverage" (like 10/50 or something crazy).

Anyway, I found that the State Farm website lets you model dropping things and adjusting deductibles and I found out what I want to do is really a silly way to save 30 bucks a month right now. If a driver crashes into me tomorrow and my call is totaled, they send me a check for the value (around $3,000) minus deductible. If I drop all that and just keep liability, and this happens I'm basically getting shit for the car. Whatever the junkyard would give me for it.

Full coverage is a must with an umbrella policy.
I'm in the same boat. 5k worth of truck with full coverage. Doesn't make sense ....but I also have a savings, home, boat, guns ....and I'm old.
Got to cover it or i may find myself broke.

quote:

Originally posted by Haveme1or2:
Full coverage is a must with an umbrella policy.
I'm in the same boat. 5k worth of truck with full coverage. Doesn't make sense ....but I also have a savings, home, boat, guns ....and I'm old.
Got to cover it or i may find myself broke.

Would it be possible to go with liability only coverage and get the umbrella from another carrier?