Any such thing as DE Insurance?
07-15-2005, 09:49 AM
#16
Porsche Nut
Rennlist Member
Rennlist Member
Thread Starter
Originally Posted by kurt M
Perhaps IL is one of the "it is not covered" states?
This is not a clear cut answer kind of thing. Each owner has to check the policy in hand and decide the level of risk to take.
On one hand you are ether covered in print or you are not. On the other hand you run the risk of getting dropped if you file a covered claim. I have had the same policy with USAA since 1978 and they have been nothing but top notch to me over the years. I have a low value car and a solid record with USAA and chose to drive with the standard policy only. If I was a new driver with a new policy and had some spots on my record I would purchase added coverage.
In one of the cases I mentioned USAA paid out but declined to cover the replacement car which is a primarily track driven car. They did not drop the insured just did not cover the next Porsche. In the other, coverage was not impinged on in any way and the rates did not increase as the driver had many good driving years with USAA.
If you can afford it and can get DE insurance where you live, do so and sleep better. It will cover most of the costs of a major hit. With a 20% deductible you will still take a $ hit and be mostly out of pocket in a smaller claim that regular insurance would cover but you don’t run the risk of getting your day to day ins. dropped. Less risk exposure costs you more up front but might or might not save you $ and headaches later.
This is not a clear cut answer kind of thing. Each owner has to check the policy in hand and decide the level of risk to take.
On one hand you are ether covered in print or you are not. On the other hand you run the risk of getting dropped if you file a covered claim. I have had the same policy with USAA since 1978 and they have been nothing but top notch to me over the years. I have a low value car and a solid record with USAA and chose to drive with the standard policy only. If I was a new driver with a new policy and had some spots on my record I would purchase added coverage.
In one of the cases I mentioned USAA paid out but declined to cover the replacement car which is a primarily track driven car. They did not drop the insured just did not cover the next Porsche. In the other, coverage was not impinged on in any way and the rates did not increase as the driver had many good driving years with USAA.
If you can afford it and can get DE insurance where you live, do so and sleep better. It will cover most of the costs of a major hit. With a 20% deductible you will still take a $ hit and be mostly out of pocket in a smaller claim that regular insurance would cover but you don’t run the risk of getting your day to day ins. dropped. Less risk exposure costs you more up front but might or might not save you $ and headaches later.
Charlie
