Do you have collision on your insurance?

"Honeybunchesofgoats" (honeybunche0fgoats) 01/26/2019 at 19:24 • Filed to: None

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I pay about $1100 a year, which is stupid low for New Jersey, but that’s just with comprehensive, uninsured motorist, and personal injury. I was looking at collision, and that would be another $600. I’ve been at fault for one accident ever, and I didn’t even need to make a claim, since the damage to me was superficial. I’m thinking I’m happy without it, but I’m interested in whether Oppos have gone for it. 

gmporschenut also a fan of hondas > Honeybunchesofgoats 01/26/2019 at 19:32

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on what kind of car?

Yes. Max insurance for 1300. 

ranwhenparked > Honeybunchesofgoats 01/26/2019 at 19:38

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I always carry it on any car that I don’t feel comfortable paying out of pocket to replace if its destroyed.

I didn’t have it on the 1980s Lincoln Town Car I owned for awhile as a second car, because it was a second car and only worth around $2,000 anyway, but I’ve always had it on everything else.

I would say that what you’re paying seems a bit high, but I understand New Jersey tends to be expensive in general. Maybe time to shop around a bit?

Honeybunchesofgoats > gmporschenut also a fan of hondas 01/26/2019 at 19:38

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Who do you use and what what state?

NC Miata

gmporschenut also a fan of hondas > Honeybunchesofgoats 01/26/2019 at 19:48

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American commerce, a subdivision of Mapfre. I got it through an insurance agent.

volt, new england.

What did yo select as a deductible? 

His Stigness > Honeybunchesofgoats 01/26/2019 at 19:49

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I carry comp, collision, and high liability limits. I also have relatively low deductibles. $25 for comp and $250 for collision. I’ve always done that but my lease actually requires a $500 collision deductible. That seems about right since most. People seem to have about $1,000 and then never fix their cars. I could never fathom not fixing any of my cars. I’ve never been in an at fault accident but used comp several times.

But even with two drivers and four cars I still pay less than $2800 a year. And collision is about 90% of the cost. 

Honeybunchesofgoats > gmporschenut also a fan of hondas 01/26/2019 at 19:50

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$1000, which was the highest. $250 would be about an extra $1000. 

CarsofFortLangley - Oppo Forever > Honeybunchesofgoats 01/26/2019 at 19:56

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Don’t get me started on insurance costs.... I paid over $7000CDN last year...with a Max discount

Collision/comprehensive on everything but the truck.

facw > Honeybunchesofgoats 01/26/2019 at 19:57

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This is what I’ve got:

I have collision and comprehensive. Having to suddenly pay out of pocket for a new (probably used) car is more risk than I’d like, and I don’t think my rates are horrible for that (helps to have an old car).

Overall, I think i t’s pretty good I think? I’d honestly like to have higher liability coverage, but this was the most GEICO was offering me. Probably should look at an umbrella policy. I’m not sure if I should have more PIP coverage, for medical expenses I assume my health insurance will cover whatever, so I’m not worried about that (unless I’m wrong), but maybe coverage for lost wages would be good. I’m not at all convinced the rental coverage is worthwhile. When my car was totaled 2017 GEICO got me a rental Friday afternoon and covered it until S unday (the rental place closed at noon, which was basically worthless). I talked to them about extending and they said they might be able to get me an extra day or two, but couldn’t even promise that, or get me an answer before I had to return it.

Also I really need to shop around, I haven’t done so for quite a while so I wouldn’t be shocked if I’m paying too much.

Honeybunchesofgoats > facw 01/26/2019 at 19:59

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Christ, that’s low. What state?

VajazzleMcDildertits - read carefully, respond politely > Honeybunchesofgoats 01/26/2019 at 20:01

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I have collision on everything, but that’s only because I can afford to. When I used to be broke, I got by on the bare legal minimum. I will say that the collision insurance did help when I did get into a non at-fault accident, it was a pretty smooth journey from collision to payment.

  > Honeybunchesofgoats 01/26/2019 at 20:03

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What does collision insurance mean? Does that mean   damage repair to the car isn’t covered under just c omprehensive?

facw > Honeybunchesofgoats 01/26/2019 at 20:07

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This is in Massachusetts. It was around $20 lower in TX. As I say I have no idea how it compares, but I’m 36, don’t put many miles on the car, last at fault accident in 2004, last speeding ticket in 2005, and drive a car that’s only worth ~$5000, which I can imagine being a good combination. I did have my car totaled in Harvey, but that didn’t have much impact on my rates (they went up ~$40/6 months with the “new” car, but since I had a different car, I’m not sure if that had any impact on my rates).

BeaterGT > Honeybunchesofgoats 01/26/2019 at 20:09

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I pay 1100 a year as well in NJ but for 2 cars. Full coverage on both with Geico. I’m surprised collision increases your premium that much. W hen was the last time you shopped around?

gmporschenut also a fan of hondas >   01/26/2019 at 20:10

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in the states, comprehensive is for losses not due to a collision. Fire, theft, tree fall

atfsgeoff > Honeybunchesofgoats 01/26/2019 at 20:14

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Full coverage on the bikes, liability only on the car and truck.

Urambo Tauro > Honeybunchesofgoats 01/26/2019 at 20:17

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Without digging out my paperwork... IIRC it’s n ot full coverage , but not just the minimum either. It’s the one that covers deer strikes and such. ( Damn critters are even less predictable than other drivers are, the way they can suddenly jump out of the treeline . )

nFamousCJ - Keeper of Stringbean, Gengars and a Deezul > Honeybunchesofgoats 01/26/2019 at 20:23

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So the Stringbean has liability and the 250 has full coverage. The Stringbean only has liability because it’s only going to be fairweather, at max gets driven 2 weeks of the month, and is worth all of $2k.

Honeybunchesofgoats > BeaterGT 01/26/2019 at 20:41

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2017. I went from State Farm to Liberty, because they had a hefty alumni discount on top of being cheaper. Granted, I had just pleaded guilty to doing  115 in a 65 MPH zone, so that may explain my premium. 

BeaterGT > Honeybunchesofgoats 01/26/2019 at 20:56

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Yea, that could do it . Do you have points now?

Michael > Honeybunchesofgoats 01/26/2019 at 21:01

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I’ve got a 05 Toyota Highlander , 08 Lexus GX470, 91 MR2 Turbo, 100/300/100k, collision, comprehensive with my wife and myself, last at fault accident 2017, for less than $200/month with progressive

  > gmporschenut also a fan of hondas 01/26/2019 at 21:01

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Interesting. I didn’t know it was split like that. Over here comprehensive is the highest tier and covers everything. My policy is around AUD1200/ year and they’ v e just signed off a $10k repair for me and covered towing and a rental.

The cheaper option is “ third party” insurance which only covers damage to the other person’s car in an accident. Good option if you have a car that isn’t worth a lot.

dtg11 - is probably on an adventure with Clifford > Honeybunchesofgoats 01/26/2019 at 21:12

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I have comprehensive on the TSX, somewhere around $1200/year which isn’t bad since I’m 19 and have 1 at fault accidental on record, even if it was 3 years ago

gmporschenut also a fan of hondas >   01/26/2019 at 21:16

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third party is called liability here and is required in 48 states. 

Honeybunchesofgoats > BeaterGT 01/26/2019 at 21:17

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I assume so. I have to pay about $150 a year in surcharges, and even though the speeding ticket alone didn’t warrant it, I got hit with just enough points to trigger an automatic suspension (15?) I expect to have points for a long time.

Captain of the Enterprise > Honeybunchesofgoats 01/26/2019 at 21:17

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I pay just over $2000 a year for full coverage. I drive a 2011 Toyota Camry am 24, male and live  in Wayne County Michigan. 

Honeybunchesofgoats > Urambo Tauro 01/26/2019 at 21:19

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I think that’s the same as me. My comp covers animals and trees. 

BeaterGT > Honeybunchesofgoats 01/26/2019 at 21:20

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Take an online defensive driving course, it’ll drop 2 points and it might drop your surcharge depending on how many points you’ve accumulated. You can find then on the NJ dmv site for pretty cheap.

https://www.state.nj.us/mvc/license/driverprograms.htm

shop-teacher > Honeybunchesofgoats 01/26/2019 at 21:27

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I pay $950/year for full coverage on both mine and my wife's vehicles. I don't carry collision on the cheap vehicles I've had over the years.

Dr. Zoidberg - RIP Oppo > nFamousCJ - Keeper of Stringbean, Gengars and a Deezul 01/26/2019 at 21:37

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Hey, I have Allstate

Full of the sound of the Gran Fury, signifying nothing. > Honeybunchesofgoats 01/26/2019 at 21:38

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I have comp and collision, not maximum coverage but far from the minimum. I’m paying about $118/mo; I’m old, drive a 7 year old minivan and have a clean record. My rates went up a bit when my credit took a hit when I was unemployed, when I could least afford it, but have come down a bit; I don’t remember what I was paying when I first got the car. I live in the city and park on the street, and I figure that plays a part.

There was a bit of stupidity when I first moved to the midwest and bought this new car. I had been unemployed about a decade ago during the great recession , and did the right thing by parking my car and getting a bus pass when I couldn’t afford registration and insurance. When I moved they asked who my insurance carrier was. I told them that I didn’t have insurance because I wasn’t driving . Hmm, no insurance - well, that means that you’re a high risk. No, I had done the proper and responsible thing given my circumstances, but that didn’t seem to matter. I feel like I’ve been paying for that ever since and really need to shop around now that my credit score is back up where it was a few years back.

ranwhenparked > Honeybunchesofgoats 01/26/2019 at 21:59

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This is by no means a n endorsement, as I don't know much about the company at all , but a friend of mine who used to live near Trenton has New Jersey Manufacturers, and I remember his rates being crazy cheap. Might be worth getting a quote?

nFamousCJ - Keeper of Stringbean, Gengars and a Deezul > Dr. Zoidberg - RIP Oppo 01/26/2019 at 22:15

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They’ve been beating everyone else’s prices recently as I’ve been shopping. Even beat out USAA (but it was coupled with a housing quote).

FTTOHG Has Moved to https://opposite-lock.com > Honeybunchesofgoats 01/26/2019 at 22:47

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I have it on both of my cars. It’s about $200 of the $1400 /year total.  $500 deductible. 

Cash Rewards > Honeybunchesofgoats 01/26/2019 at 22:57

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For our commuters, yes. For the truck off craigslist with 230k miles, no. The 18 year old miata? Also no

BaconSandwich is tasty. > CarsofFortLangley - Oppo Forever 01/26/2019 at 23:21

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Wh at the heck. With rates like that, were you daily driving a Veyron in Montreal or something?

BrianGriffin thinks “reliable” is just a state of mind > Honeybunchesofgoats 01/26/2019 at 23:37

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All right. You’ve had a lot of responses, here’s my $0.02:

If your car is worth less that (collision annual cost x 10): pay it. If you have that in savings and it’s not gonna be a dent, then don’t do collision. If you’re not sure, then roll the dice. 

CarsofFortLangley - Oppo Forever > BaconSandwich is tasty. 01/27/2019 at 00:36

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https://oppositelock.kinja.com/car-insurance-costs-1829029763#amp-PizDSiuP8o7wMkELy2Lg7L7C8sNbtfCFmVfSkiaxNVCt0qUe4l_1xvnV_VWOw924

  > gmporschenut also a fan of hondas 01/27/2019 at 03:49

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W e also have ‘compulsory third party’ which you pay for along with your car registration, and that basically only covers injuring or killing someone.