Insurance coverage question
Thread Starter
Rennlist Member
Joined: May 2021
Posts: 603
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From: Southeast US
Insurance coverage question
Hi Folks. I have an insurance question and will appreciate your help. I currently have Statefarm insurance for my vehicles, house and umbrella. The only issue I have is that underinsured property damage limit is max at 100k. There is not even an option to change it to 250k. While uninsured property damage limit is 250k.
The only company that I found that I can have underinsured property damage coverage upto 250k is GEICO, but it increases my premium nearly twice as much I’m paying with Statefarm.
The state I live in, a lot of folks merely have liability and sometimes nothing.
Do you have any suggestions in that regard.
i really appreciate your time and input.
Thank you.
The only company that I found that I can have underinsured property damage coverage upto 250k is GEICO, but it increases my premium nearly twice as much I’m paying with Statefarm.
The state I live in, a lot of folks merely have liability and sometimes nothing.
Do you have any suggestions in that regard.
i really appreciate your time and input.
Thank you.
Three Wheelin'
Joined: Jan 2021
Posts: 1,887
Likes: 2,337
Hi Folks. I have an insurance question and will appreciate your help. I currently have Statefarm insurance for my vehicles, house and umbrella. The only issue I have is that underinsured property damage limit is max at 100k. There is not even an option to change it to 250k. While uninsured property damage limit is 250k.
The only company that I found that I can have underinsured property damage coverage upto 250k is GEICO, but it increases my premium nearly twice as much I’m paying with Statefarm.
The state I live in, a lot of folks merely have liability and sometimes nothing.
Do you have any suggestions in that regard.
i really appreciate your time and input.
Thank you.
The only company that I found that I can have underinsured property damage coverage upto 250k is GEICO, but it increases my premium nearly twice as much I’m paying with Statefarm.
The state I live in, a lot of folks merely have liability and sometimes nothing.
Do you have any suggestions in that regard.
i really appreciate your time and input.
Thank you.
If you are talking about uninsured and underinsured motorist bodily injury coverage, I think you can buy $500K or maybe even $1 million in uninsured motorist bodily injury coverage from State Farm. Ask your agent what the max available uninsured motorist bodily injury coverage is and they should be able to tell you. I'm sure you can get $500K/person and $500K/accident uninsured motoristy bodily injury coverage.
Thread Starter
Rennlist Member
Joined: May 2021
Posts: 603
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From: Southeast US
I have State Farm Insurance and I don't think you're reading your coverage right. There should be no stated limit to uninsured property damage because you have collision coverage that pays for repairs to your car. So if you are hit by an uninsured motorist, your uninsured motorist property damage coverage would pay for your deductible and the rest is covered by your collision coverage so you wouldn't need hundreds of thousands of dollars of uninsured motorist property damage coverage.
If you are talking about uninsured and underinsured motorist bodily injury coverage, I think you can buy $500K or maybe even $1 million in uninsured motorist bodily injury coverage from State Farm. Ask your agent what the max available uninsured motorist bodily injury coverage is and they should be able to tell you. I'm sure you can get $500K/person and $500K/accident uninsured motoristy bodily injury coverage.
If you are talking about uninsured and underinsured motorist bodily injury coverage, I think you can buy $500K or maybe even $1 million in uninsured motorist bodily injury coverage from State Farm. Ask your agent what the max available uninsured motorist bodily injury coverage is and they should be able to tell you. I'm sure you can get $500K/person and $500K/accident uninsured motoristy bodily injury coverage.
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State Farm, Geico, All State and Progressive, they are all POS companies. They are fine from premium point of view ( affordable) but as soon as you have a claim, you'll see the true side of them. I have personally dealt with gecko and the either State farm or All state ( don't recall) and on both occasions, the experience was not really good
I have Kentucky Farm Bureau and in 15 years and couple of claims later, my premium still remains the same, may be slightly raised
I have Kentucky Farm Bureau and in 15 years and couple of claims later, my premium still remains the same, may be slightly raised
Burning Brakes
Joined: Feb 2016
Posts: 822
Likes: 796
From: San Diego
I’ve been with them so long that I have several discounts built in. Anytime I’ve looked to change, the insurer I look at provides a nice teaser rate for the cars, but everything else is so much higher that my annual total is more expensive.
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Thread Starter
Rennlist Member
Joined: May 2021
Posts: 603
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From: Southeast US
State Farm, Geico, All State and Progressive, they are all POS companies. They are fine from premium point of view ( affordable) but as soon as you have a claim, you'll see the true side of them. I have personally dealt with gecko and the either State farm or All state ( don't recall) and on both occasions, the experience was not really good
I have Kentucky Farm Bureau and in 15 years and couple of claims later, my premium still remains the same, may be slightly raised
I have Kentucky Farm Bureau and in 15 years and couple of claims later, my premium still remains the same, may be slightly raised
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Burning Brakes
Joined: Apr 2019
Posts: 824
Likes: 1,227
From: Iowa City, Iowa - Go Hawks
I’ve been with State Farm for over 30 years. I’ve had multiple claims in that time including auto and home. Two of my home claims were from natural disasters. Every single time they were awesome to deal with. I’ve been very pleased. My experience is across four different states, so it’s not agent dependent either.
I’ve been with them so long that I have several discounts built in. Anytime I’ve looked to change, the insurer I look at provides a nice teaser rate for the cars, but everything else is so much higher that my annual total is more expensive.
I’ve been with them so long that I have several discounts built in. Anytime I’ve looked to change, the insurer I look at provides a nice teaser rate for the cars, but everything else is so much higher that my annual total is more expensive.
Insurance opinions are like a$$holes - everyone has one...................
Pro
Joined: Aug 2016
Posts: 567
Likes: 21
It’s a really good question because the policy name of umbrella is a misnomer. Umbrella implies that you’re covered no matter what, however, what they don’t tell you is that they are liability only, and will only pay your damages if you’re at fault. That’s why policy is so inexpensive. You know the policy is worthless because they don’t even offer umbrellas that have an uninsured provision, because they realize the liability is with the reckless driver that has no insurance and not you as a Porsche owner.
Last edited by Outlaw; Nov 12, 2022 at 08:43 AM.
Drifting
Joined: May 2021
Posts: 2,289
Likes: 2,153
I never had an issue with Allstate from a claims perspective. It helps that I have used them since 1965 when I was under my Dad's Allstate insurance policy.
Some of the issues with your insurance company may be agent driven opposed to company driven.
Some of the issues with your insurance company may be agent driven opposed to company driven.
Three Wheelin'
Joined: Jan 2021
Posts: 1,887
Likes: 2,337
That doesn't make any sense. Do you have collision coverage? I assume you do. There is no limit to collision coverage. It pays for the full value of the car less your deductible regardless of who hits your car. Again, you do not need $100K uninsured property damge coverage because it doesn't matter whether the person who hits your car is insured or not since your collision covearge would pay for the repairs or the total loss value of your car. You only need your deductible covered which your uninsured motorist property damage coverage will take care of.
Three Wheelin'
Joined: Jan 2021
Posts: 1,887
Likes: 2,337
EVERYBODY on this forum needs to have an umbrella policy because we all have assets and/or make good money and we are targets for people who will sue us to get our money and assets. Buy your umbrella policy from State Farm or whoever you want, but get one. I have found State Farm's umbrella policy to be reasonbly priced. I think I pay about $400 for a $2 million umbrella policy which sits on top of my auto and homeowner's insurance policies.
If you don't have an umbrella policy and/or you have low liability limits for your regular auto policy and you accidentally hurt someone or a guest trips and falls in your house and they sue you, they very likely won't accept just your auto or homeowner's liability limits and will come after you personally. Attorneys do a great job manufacturing fake, expensive claims.
