Comments on: would it be fine to have this type of insurance for a young driver? http://www.thecarinsurance.net/would-it-be-fine-to-have-this-type-of-insurance-for-a-young-driver.html car insurance Wed, 18 Jan 2012 20:13:58 +0000 hourly 1 http://wordpress.org/?v=3.0 By: ANN H http://www.thecarinsurance.net/would-it-be-fine-to-have-this-type-of-insurance-for-a-young-driver.html/comment-page-1#comment-3608 ANN H Thu, 04 Mar 2010 07:18:15 +0000 http://www.thecarinsurance.net/would-it-be-fine-to-have-this-type-of-insurance-for-a-young-driver.html#comment-3608 As far as my knowledge,this is a question with various answers,it is really depending on the mind of yourself,providing a great resource here http://www.CarInsuranceTip.info for reference though. As far as my knowledge,this is a question with various answers,it is really depending on the mind of yourself,providing a great resource here

http://www.CarInsuranceTip.info

for reference though.

]]> By: Bruce http://www.thecarinsurance.net/would-it-be-fine-to-have-this-type-of-insurance-for-a-young-driver.html/comment-page-1#comment-3607 Bruce Thu, 04 Mar 2010 07:05:20 +0000 http://www.thecarinsurance.net/would-it-be-fine-to-have-this-type-of-insurance-for-a-young-driver.html#comment-3607 Uninsured/Under insured coverage only covers damage to the other drivers vehicle and property and won't help with your liability issues should you be deemed at fault. Uninsured and under insured does NOT cover you at all unless YOU purchase it; then it covers the deductible on your collision and any overages on repair costs if the other driver doesn't have insurance or is under insured. It has no liability inference, 25/40 means you have liability coverage limits of 25K to any one person with a total of 40K for any accident. That's not very much. If you were to be found liable for a serious accident, you could end up paying for it for many years, with garnishments against your paychecks, savings and just about anything you own or will ever own. That's a serious thought to ponder. With hospital bills easily pushing 50K for even a simple operation and a two day hospital stay, you can see how that can add up fast, especially for a multiple occupant injury accident. Plus, what about property damage? How are you going to cover that Mercedes or BMW or even the Cadillac Escalade worth 60K if it's totaled? And worse yet, the truth is, it might not be your fault, but in many cases it turns out to be a "he said, she said" type crash where there are no outside witnesses and each party is assessed part fault. Or, if there are more people in the other vehicle pointing the finger at you and little forensic evidence to the contrary, you could be on the hook for the loss anyway. Bottom line is to get the best policy you can afford with the best coverage. Check with reputable companies such as AAA and some of the ones that offer new driver discounts. I've found Progressive and Geico to be higher than most even though they say they're competitive on line. Esurance is a California based company and seems to have a good reputation for low cost basic coverage. Finally, check around with local agents for the best coverage for your dollar. Get coverage that you need without any frills you don't. If you don't need comprehensive coverage, don't get it. Same with collision if you have an older car and it's not financed, and you can afford to have it fixed yourself if it gets damaged. (Banks and finance companies will require you to have collision coverage to cover THEM, and not YOU...people need to be aware of that. As loss payee the bank or finance company gets paid in the event of a collision, and the vehicle owner may get nothing but the junk car, depending on the current value!) Uninsured/Under insured coverage only covers damage to the other drivers vehicle and property and won’t help with your liability issues should you be deemed at fault. Uninsured and under insured does NOT cover you at all unless YOU purchase it; then it covers the deductible on your collision and any overages on repair costs if the other driver doesn’t have insurance or is under insured. It has no liability inference,

25/40 means you have liability coverage limits of 25K to any one person with a total of 40K for any accident. That’s not very much. If you were to be found liable for a serious accident, you could end up paying for it for many years, with garnishments against your paychecks, savings and just about anything you own or will ever own. That’s a serious thought to ponder. With hospital bills easily pushing 50K for even a simple operation and a two day hospital stay, you can see how that can add up fast, especially for a multiple occupant injury accident. Plus, what about property damage? How are you going to cover that Mercedes or BMW or even the Cadillac Escalade worth 60K if it’s totaled? And worse yet, the truth is, it might not be your fault, but in many cases it turns out to be a “he said, she said” type crash where there are no outside witnesses and each party is assessed part fault. Or, if there are more people in the other vehicle pointing the finger at you and little forensic evidence to the contrary, you could be on the hook for the loss anyway.

Bottom line is to get the best policy you can afford with the best coverage. Check with reputable companies such as AAA and some of the ones that offer new driver discounts. I’ve found Progressive and Geico to be higher than most even though they say they’re competitive on line. Esurance is a California based company and seems to have a good reputation for low cost basic coverage.

Finally, check around with local agents for the best coverage for your dollar. Get coverage that you need without any frills you don’t. If you don’t need comprehensive coverage, don’t get it. Same with collision if you have an older car and it’s not financed, and you can afford to have it fixed yourself if it gets damaged. (Banks and finance companies will require you to have collision coverage to cover THEM, and not YOU…people need to be aware of that. As loss payee the bank or finance company gets paid in the event of a collision, and the vehicle owner may get nothing but the junk car, depending on the current value!)

]]> By: oklatom http://www.thecarinsurance.net/would-it-be-fine-to-have-this-type-of-insurance-for-a-young-driver.html/comment-page-1#comment-3606 oklatom Thu, 04 Mar 2010 06:27:39 +0000 http://www.thecarinsurance.net/would-it-be-fine-to-have-this-type-of-insurance-for-a-young-driver.html#comment-3606 Your parents are right. Yes, there is uninsured and under insured coverage, and I'd suggest everyone have it. But if you go bare minimum, and the damage you did was more than your coverage, the party you hit will turn it in to their insurance company who will cover it. But then they will want to be paid back so they will send you a bill for the overage they paid. If you can't, or won't pay it, they will take you to court to get it back. Now, to get the best coverage and rates, I'd suggest you talk to an independent agent, give him all your information, and let him search his data base to find you the best coverage at the best price. Your parents are right. Yes, there is uninsured and under insured coverage, and I’d suggest everyone have it. But if you go bare minimum, and the damage you did was more than your coverage, the party you hit will turn it in to their insurance company who will cover it. But then they will want to be paid back so they will send you a bill for the overage they paid. If you can’t, or won’t pay it, they will take you to court to get it back.

Now, to get the best coverage and rates, I’d suggest you talk to an independent agent, give him all your information, and let him search his data base to find you the best coverage at the best price.

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