bcdavis, must have missed your first thread, paying aprox. $2,100 per year this one really interests me!

AAA policy covers $50,000 each of bodily injury, uninsured motorist, and property damage. Comprehensive coverage on both cars for about $7,000 each. I'm 21, have no tickets (ever!) and one minor accident for which the other driver took full responsibility.

I'd heard mostly positive things from other AAA customers about the quality of the coverage when they needed to make a claim. But recently, I've gotten a little concerned. The Long Story:
My boyfriend is also covered w/ them, on a separate policy. A couple years ago he rear-ended a Buick at low speeds, who then rolled into the back of a truck. Minor scratches on the Buick's bumper, a little crunched bodywork to the truck (gotta love the lack of 5mph-bumpers on those things). The trouble is, AAA paid the truck owner about three times what the body damage would've cost to repair. Now, a minor accident has a big price tag on his record, raising the premiums, even if he switches to a different insurance company. To you insurance gurus: is overpayment like this a real risk I should worry about when choosing insurance, or just a nasty fluke?

 

A lot of variables play into insurance figures…homeowner, multi-policy, # of cars insured, color of auto, driving record, # of years licensed, single/married, gender, state/city/zip code you live in, age, profession and even some states I hear rumor that credit scores may play a part although I’ve not confirmed this.

My stats…AAA Insurance…No tickets…age 41…Umbrella policy for Los Angeles valley home, 88 928/94 GMC truck with **** loads of liability on both cars & home leave me with about $1200/yr just for the Porsche. Truck is about $900…$500 for the house valued a little over ½ a mill. Cheap…no…but for the first time since owning the truck, I got smacked w/$3k of damage and AAA Insurance was the best in handling the claim.

I still need to tweak the policy a bit when I have time but overall I’m pretty happy with them in regards to the last claim so far. I don’t know that they are the best but they fit my present needs.

Tim Delarm
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Okay, I'll jump in... and I'm not in the insurance business. But I do know a little which could be worse. Here goes: Insurance depends on many variables and it is difficult to do a direct comparison of rates between individuals. Insurance companies evaluate your age (being 18 is a lot different than say 42), female vs. male (lower probablility of being in an accident if your a female.. statistically speaking), your accident rate and years accident free.. If you are 30 and have had 4 accidents you'll pay more than if you are 45 and never had an accident in 15 years, how many miles you drive per year and how many miles you drive to work are also factors considered by insurance companies ( the more or further you drive the greater likelihood you'll have an accident... statistically speaking), if you have more than one car.. say you drive a clunker to work (no not a 911 bite your tongue!) and your beautiful awesome 928 is only for pleasure driving.. then you'll pay less, it also depends where you live... you'd pay a lot if you live in NYC or LA or someother big city but if you live and work in say.. Spokane (sorry but had to pick some example) your insurance will be less. In addition, your rate will depend on your deductibles (I have $300), the lower your deductible amount the lower your premiums. Also I pay extra to have a higher death/insurance etc. insurance coverage rate.. I notice some of you have as low as $30-50,000... maybe fine for some but I don't wish to be sued if I caused an accident (knock on wood) and have to pay 1/2 my earnings for the rest of my life to keep someone on life support.. hold onto your socks, I got $2.5m (yup! that 7 digits) coverage. Of course it also depends on the value of your car.. 1981 vs. 1993 say can make a difference. There are probably other factors that I'm not aware of... oh yeah, I signed a form with my insurance company saying no one under 25 would ever drive the car and /or no one with less than 10 years driving experience woud ever drive the car (that save me $25/yr) and go figure, I get a 'professional' discount too.

Here is my stats: I drive a 1988S4, I live in a city of 2million, have deductibles of $300 and have full collision and comprehensive insurance, get a small rate break for having a car alarm/immobilizer, have a 10+ plus accident free history, never had a speeding ticket (knock on wood and photoradar don't count), and have $3mill life/death/injury coverage for 3rd parties etc., have uninsured accident coverage too, and also have car replacement insurance coverage (meaning if the car is in the accident and in the shop for up to 30 days, I get a rental car paid for).

My advice, find a good broker or agent probably by referral from a family or friend and get a quote from a number of companies. Use the same due dilligence (yuck what two words I've come to know) as you would to find a good physician. Evaluate their costs and then go with the one that will give you good value but also good service (what good is cheap insurance if they suck when it comes to making an actually claim.)

Hopefully I wasn't too too long.

p.s. I pay, give or take: $1500/yr. (US$)

Bruce.

 

Oops, forgot to say I'm 42 and that's 2.5m not 3.0m.. B.

 

Based on what I know about Geico, I would not get a policy from them, even if they were the least costly. I know of several Porsche owners who filed a claim with them, and soon after were dropped. Also, I once called Geico and they asked if I owned a radar detector. I was not aware that OWNING a detector was prima-facia evidence of being a 'speeder', so I said the truth - YES. Later, I queried why that question was asked. They said they store the info in their database. I wonder why?

I currently pay about $550/yr. for the P-car which has no mileage ristrictions, and full coverage during DE events and regular street driving, with a $500 deductible. Moreover, I've made one claim, and they paid without a hastle, and I can have my car repaired wherever I like. YMMV.

 

 

Brendan, I oughtta have you look over my coverage. Thanks for the heads up and yes this Bozzo has points and cannot take traffic school for another 17 months.

Glass houses.

 

Ed:

You did not mention what insurance company you are using for the P-car. Or did I miss something?

 

[quote]Originally posted by Nicole:
<strong>Ed:

You did not mention what insurance company you are using for the P-car. Or did I miss something?</strong><hr></blockquote>

No, you didn't. It was my omission. I'm currently with AIG. However, I will probably switch to a 'better' company when my 23 year-old Son moves out. As I said in my first post on this issue, "There are just too many variables to make meaningful comparisons."

For example: Insurance companies consider my age and marital status as pluses, but they also consider my son's age and gender major minuses. Go figure. YMMV.

 

BTW, for those of you who may not be aware - You can have your car repaired wherever YOU like. Your insurance company may want you to deal with one of their preferred body shops, but they cannot require you to use them.

It has been my experience that their preferred shops are not the best for cars like 928s. YMMV.

 

To clarify, I pay $814 a year.
For what I consider to be pretty good coverage... But through "Mercury", who are one of the cheaper insureres out there. But don't you suppose that places like Mercury and Geico, make up for their prices, with *volume*? They do good business... Most people with little money, tend to use places like that, and get minimum coverage. As you know, they way insurance makes money, is that they collect money from everyone, but not that many of their clients ever collect. So I do not think a company needs to charge an arm and a leg, if they have a huge client base. And all I am saying about Mercury, is that they did a really good job handling my claims, with the same speed, and professionalism, that I have received from major carriers in the past.

As far as uninsured motorists, I only carry $15,000/$30,000, because that is enough to get me on my feet, and to replace my car. After that, I will depend on my normal medical insurance to handle it if I need any long-term treatments. And I already have long term disability insurance through my work. So I see no need to have higher amounts...

But some of you have pretty good rates.
I guess that rates can, and do, continue to drop as you get older. I am used to rates of around $1,500 a year, for minimum, back when I was a young punk with a cheap car and a record. So I consider $800/yr a bargain. But some of you seem to have pretty good deals...

 

[quote] GEICO wants $630 per year which seems excessive. <hr></blockquote>

Is this a typo???

I got a quote of $7200 per year on a 928!!! My father got a quote of $3500 per year on that same car! Something is wrong!

If this is right, you are either one damn good and very old driver with about a hundred cars OR you are not getting good coverage.

And a word of advice: One claim with GEICO and they drop you, despite driver history. That is how discount insurance companies make their money.

 

It is easy to see that there are just too many variable to make meaningful comparisons. I live in a State that has fairly low insurance rates, but also has a personal property tax on cars and other large ticket items. My age, driving record, and marital status play big parts in lowering the rate even further, but my young Son brings the rate up a bit, even though he has his own car. The fact that I keep the car garaged and commute less than a mile helps to keep the rate low, but I also pay a bit more for participating in DE and other PCA driving events. If I could drive less than 5k miles per year, I could lower my rate to less than $400/yr. YMMV.

 

This is not so much about insurance as in response to pilotshark.

I must take respectful exception to your comments about the police; and specifically the traffic police. The fact that there are many drivers on the roads that think they are better drivers than they really are is not sufficient reason to penalize the others by restricting all of them to ridiculously low limits or any limits at all. You are stating that if someone is handicapped, we should all strive to achieve the level of performance of that person and no higher. This attitude fails to account for the condition of the automobile, the performance capabilities of the automobile, the abilities and experience of the driver. Are the autobahns and autostradas littered with devastating accidents and victims?
Is a RUF not capable of hours at 170 mph + speed in relative stability and safety?
Relying on the speed limits to insure "safety" removes responsibility from the driver and places it on the roads and/or laws; drivers then poke along in the left lane at 63 mph, thinking "the limit will protect me" and their adherence to the law will shelter them from evil while their minds are somewhere else. Absurd!! Smokey the Bear (the real one) was right when he said only you can prevent forest fires. Cars don't "go out of control"; drivers lose control. Accidents don't necessarily occur because of "speed"; speed is relative. You drive a vehicle (928) that can safely negotiate a turn or maneuver at a much greater speed than most other vehicles out there, all other factors equal, and you know it. To hear from a trooper that the freeways are safe only to a speed of 75 mph, after he has just travelled at 90 to 100 for a half a mile to catch me on a windy stretch of freeway in a lesser vehicle without incident is absurd on its face!! Are all braking systems equal? Are all suspension systems equal? Are all lighting systems equal? Are all tires equal? I don't think so.

FYI: the speeds set on California roads, and, I understand, on Federal highways are supposed to be set according to the 85%tile rule, after tests are performed to measure the speed of 85% percent of the drivers travelling a particular stretch of highway. That means that 85% can and do safely negotiate that highway at near that speed. Although the road may have been "designed" 30 years earlier when the most advanced vehicle expected to negotiate that road was a Hudson Hornet, if most drivers are able to travel at a higher speed the limits are supposed to be raised.
And technology is improving every day, and thus are vehicles.

However, licensing laws are not improving in difficulty. Knowledge of vehicle dynamics is not seemingly becoming more commonplace. Prosecution of offenses involving driving while impaired is not becoming more vigorous or harsh. And no reward in privilege is granted for those who take the responsibility to learn vehicle dynamics and practice that knowledge consciously while operating a vehicle, or who restrict their consumption of impairing substances, or who increase their abilities physical condition to drive more effectively and aggresively within the safe capacity of their vehicle.

I have personally been followed by the police and ticketed while travelling the speed limit for no other reason than I was driving a Porsche and "those are the ones that speed". I have also been stopped by officers who saw the Porsche drive by but never paced or measured the car's speed in any manner, then told the same thing: it's a Porsche after all !! In some states, the fact it is not a "family sedan" is enough to qualify for an opportunity to contribute to the "bear relief fund". Which is the safer car: an SUV (Cayennes excepted of course), or your well maintained 928, all other things equal. In many jurisdictions, traffic fines are the source of revenue for the city or state agency issuing the fines. No crime:No income: NO JOB FOR SMOKEY !!! We pay firepersons for working out in the gym and staying healthy and fit to fight fires and rescue us... and pray they never need to confront any of those situations. Pay smokey to do the same thing, and stop insulting my intelligence and theirs as well.

I must say I side with Nicole. No offense intended.

I have also tested a significant number of VDO speedometers (as self defense), and found them ALL to be fast, meaning to be indicating faster than actual speed. Then I discovered that German law requires that speedometers be made to read that way. Interesting that yours read the other way, if I understood your statements correctly.

 

Go Ron!

I'm with you on that!

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Do you know that in LA alone, they collected over 500 MILLION dollars in *parking* tickets in one year's time?

Tickets are a way to raise money.

Every traffic cop should be in South Central LA, or any other bad area of our cities. Keep putting more and more police into the bad areas, until there is no more violent crime. When there is no more murder or rape on the streets, THEN go look for speeders and parking violators...

I'm cool with busting obvious drunk drivers, or people speeding recklessly, or racing. But just giving tickets because people were going "over the speed limit" by a few miles an hour, is just revenue collection, pure and simple.

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