Comparing insurance.
#1
Comparing insurance.
I picked up my car a week ago and just got to switching over my insurance today. Turns out Allstate wants 2400 a year for a 131 msrp Panamera. That would be new replacement for 3 years and I'm afraid I don't know the breakdown for the individual stuff, still waiting for the new documentation to get emailed over to me. I don't have any tickets or accidents. Sound competitive? I'm thinking I might need to shop it around.
#2
Rennlist Member
Allstate is killing me as well for roughly the same amount. Clean record, no claims or tickets.
I am looking at going to Progressive which (unless there is a catch I haven't found) is less than half the cost of Allstate.
I am looking at going to Progressive which (unless there is a catch I haven't found) is less than half the cost of Allstate.
#3
Shop around, definitely. There are so many factors impacting a quote that shopping around is a great option.
#5
quoted 2800 for 2019 Turbo S (higher MSRP) via Amica. Good coverage limits, multiple discounts.
Hard to apples-to-apples and i haven't shopped the above quote around.
Hard to apples-to-apples and i haven't shopped the above quote around.
#6
Burning Brakes
My advice: get Chubb, with Specified Value.
Chubb is the only insurance company in the business of writing checks and taking care of customers. The rest suck, will fight you tooth and nail, make life difficult, do everything in their power to avoid or lower payout.
Chubb. With Agreed Value.
It's more expensive. It's worth every penny.
Chubb is the only insurance company in the business of writing checks and taking care of customers. The rest suck, will fight you tooth and nail, make life difficult, do everything in their power to avoid or lower payout.
Chubb. With Agreed Value.
It's more expensive. It's worth every penny.
Last edited by pokingaround; 06-25-2019 at 03:18 PM.
#7
thanks pokingaround. I'll look into Chubb. I'd also offer a plug for Amica. Couldn't be happier with service. They pay and have never fought me on anything.
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#8
So I’ve made out a lot of claims over a lot of years against a lot of insurance companies and I can confirm Amica, Chubb are some of the best. I currently have Cincinnati after having Chubb. Cincinnati was a lot less to add Panny.
So I just want to clarify when you’re working with an insurance company on guaranteeing an exact value of property damage you need to use “agreed” value. Stated value is the other option and all that is is just a dollar value that’s shopped at the time of the loss, like any other company.
So I just want to clarify when you’re working with an insurance company on guaranteeing an exact value of property damage you need to use “agreed” value. Stated value is the other option and all that is is just a dollar value that’s shopped at the time of the loss, like any other company.
#9
Burning Brakes
So I’ve made out a lot of claims over a lot of years against a lot of insurance companies and I can confirm Amica, Chubb are some of the best. I currently have Cincinnati after having Chubb. Cincinnati was a lot less to add Panny.
So I just want to clarify when you’re working with an insurance company on guaranteeing an exact value of property damage you need to use “agreed” value. Stated value is the other option and all that is is just a dollar value that’s shopped at the time of the loss, like any other company.
So I just want to clarify when you’re working with an insurance company on guaranteeing an exact value of property damage you need to use “agreed” value. Stated value is the other option and all that is is just a dollar value that’s shopped at the time of the loss, like any other company.
#10
I've got new car replacement so that adds a few pennies for sure, would probably go for value if I kept the car after that expires in 3 years but I'm not planning on it. Usually Allstate comes in about 1% of MSRP or a little more for sports cars.
#11
I picked up my car a week ago and just got to switching over my insurance today. Turns out Allstate wants 2400 a year for a 131 msrp Panamera. That would be new replacement for 3 years and I'm afraid I don't know the breakdown for the individual stuff, still waiting for the new documentation to get emailed over to me. I don't have any tickets or accidents. Sound competitive? I'm thinking I might need to shop it around.
separately, i've found geico to be super easy to manage, with competitive rates. i can log in and change coverage any time, add or remove vehicles, etc. (in fairness i haven't had any claims so unsure about their reimbursement ease and promptness.) completely separately, for personal residences and related, i used chubb for many years, switched to aig when chubb became too sure i wouldn't switch, then switched to pure last year after too many years of aig rate hikes. premia dropped by ~40%.
#12
IMO this has to be the most specious statement I’ve ever heard on this subject.
A couple of points. First, Your insurance has nothing to do with your driving record, it has everything to do with drivers who have no insurance that crash into You and change your life. How do you self insure a crushed pelvis?
Secondly, This could apply to anyone in your family and cover any vicarious liability as a result of their actions. I have a retired client who’s child put two in the hospital while she was on phone. He lost his house and he’s renting an apartment for the rest of his life. Do you have a separate fund for another house?
And to all of those who think you’re cheap 1 million umbrella has you covered for $350 a year think again. It only covers if you’re at fault and as we know that’s not likely to happen.
If I sound too emphatic, it’s because there are valid reasons.
A couple of points. First, Your insurance has nothing to do with your driving record, it has everything to do with drivers who have no insurance that crash into You and change your life. How do you self insure a crushed pelvis?
Secondly, This could apply to anyone in your family and cover any vicarious liability as a result of their actions. I have a retired client who’s child put two in the hospital while she was on phone. He lost his house and he’s renting an apartment for the rest of his life. Do you have a separate fund for another house?
And to all of those who think you’re cheap 1 million umbrella has you covered for $350 a year think again. It only covers if you’re at fault and as we know that’s not likely to happen.
If I sound too emphatic, it’s because there are valid reasons.
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Outlaw (06-28-2019)
#14
IMO this has to be the most specious statement I’ve ever heard on this subject.
A couple of points. First, Your insurance has nothing to do with your driving record, it has everything to do with drivers who have no insurance that crash into You and change your life. How do you self insure a crushed pelvis?
Secondly, This could apply to anyone in your family and cover any vicarious liability as a result of their actions. I have a retired client who’s child put two in the hospital while she was on phone. He lost his house and he’s renting an apartment for the rest of his life. Do you have a separate fund for another house?
And to all of those who think you’re cheap 1 million umbrella has you covered for $350 a year think again. It only covers if you’re at fault and as we know that’s not likely to happen.
If I sound too emphatic, it’s because there are valid reasons.
A couple of points. First, Your insurance has nothing to do with your driving record, it has everything to do with drivers who have no insurance that crash into You and change your life. How do you self insure a crushed pelvis?
Secondly, This could apply to anyone in your family and cover any vicarious liability as a result of their actions. I have a retired client who’s child put two in the hospital while she was on phone. He lost his house and he’s renting an apartment for the rest of his life. Do you have a separate fund for another house?
And to all of those who think you’re cheap 1 million umbrella has you covered for $350 a year think again. It only covers if you’re at fault and as we know that’s not likely to happen.
If I sound too emphatic, it’s because there are valid reasons.
"importantly, do this only for assets for which you are comfortable covering the maximum loss yourself (so health coverage, probably home, still should be covered, though minimally through only catastrophic policy)."
the example of your client having a child responsible for medical coverage has nothing to do with the collision and comprehensive coverage i suggested minimizing. that liability is covered by mandatory insurance to some minimum level.
btw, i don't think "vicarious" is what you mean; i think you mean to say "indirect." (in fairness, you actually don't want any modifier for liability- a liability of your child is a liability of yours.) might you be in the insurance field?
Last edited by brakedust; 06-27-2019 at 11:51 AM.
#15
Let's not lose sight of the fact that for many, the scenario brakedust outlines isn't within reach or practical. The argument is built on a premise of a sustainable income at a certain level. An unexpected bill - say, a medical expense - of $2,000 is enough to send the majority of American households into a financial freefall from which they may never recover.
Whether or not people who meet that criteria should be purchasing a Porsche is a different question.
Whether or not people who meet that criteria should be purchasing a Porsche is a different question.
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TaraFirma (11-08-2019)