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I think there should be some sort of discussion on car insurance, specifically:
- what is the best company out there (price vs. coverage)
- what companies are going to screw you
- what minimum coverage should a person have
- what minimum coverage do you have
- have you ever been caught driving without insurance
- what things have you done to lower your rate
- what is ‘Gap’ insurance and why is it so important
- do dealerships or independent repair facilities get the money they deserve for doing repairs
- can a freelance mechanic perform work for an insurance claim
And now for the big questions…
- should you buy an extended warranty
- should you buy an extended warranty from the dealer, or elsewhere
- should you buy a 3rd party ‘auto maintenance’ insurance (such as AAA extended warranty)
- do these 3rd party policies ever pay out?
- is there a extended warranty out there that you would consider a ‘must have’ for high mileage vehicles?
Lastly, please share your auto insurance horror stories. Take this opportunity to throw the bad guys under the bus. Conversely, if you were happy with a certain company, please let us know. 🙂
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There’s no “best company” for everyone. It depends on your car, driving record, age, location, family and financial situation, etc. Some companies do better for high risk drivers, while others do better for low risk drivers. I’m considered a low risk driver based on demographic factors, but I drive a lot of miles so that increases my cost.
What do I do to keep my rates down? How about no accidents or tickets? That’s a good start.
Regarding shops, the last time I needed work done (rear-ended by a teenager, broke my bumper cover), I used the shop recommended by our insurance company. We don’t have to but the guarantee is much better. They were not cheap, but of course I wasn’t paying for it. 🙂
Been with USAA insurance for over 30 years. absoulutly love them. membership is somewhat limited ( either served in the military , sibling of a military person , DoD employee , few other ways to qualify ) they have always been good to me . can’t comment on any other company since I have never been with anyone else besides USAA. have all my tools insured by them as well. my coverage is basic required here in so cal , two reasons why-
1- drive a 89 civic ( with a salvage title ) and a 95 dodge ram 2500 ( 4×4 )
2 – Do all my own repairs
my rates are stupid low , ‘course I am 51 and have a super clean driving record.
Progressive($120 monthly, basic liability only). Had State Farm which provided the lowest rate for the greatest coverage, but I was dropped by them some years back now.
My rates are stupidly high.
As you might guess, this is due to driving record in each case. Half IMO is totally on my own head, the rest is a mixture of factors some likely semi-unique to where I live, others possibly not so much. Such as if the car was an 86 monty carlo with the same output…
In 2008 I had my truck, plus my new 08 Can-Am Outlander (ATV) for $180/month, both full coverage including collision on both. Got a DUI in June 2008, in Jan 2009 I was quoted $570/month just for my truck, of course I cancelled it since I didn’t have a licence. Now I’m paying $106/month for my truck (they don’t know what’s under the hood of my truck, used to be a 4.3L V6), basic covereage, will put the ATV on it once the spring comes and I can drive it.
In 2008 I had my truck, plus my new 08 Can-Am Outlander (ATV) for $180/month, both full coverage including collision on both. Got a DUI in June 2008, in Jan 2009 I was quoted $570/month just for my truck, of course I cancelled it since I didn’t have a licence. Now I’m paying $106/month for my truck (they don’t know what’s under the hood of my truck, used to be a 4.3L V6), basic covereage, will put the ATV on it once the spring comes and I can drive it.
Good story.. kinda a horror story at first but demonstrates that there is life after a mistake. Time heals all wounds.
Glad to see you are back down to normal rates. 🙂
Geico gives me the best rates and I have it taken out of my checking account monthly. None of the others could beat their price. Minimum coverage is usually mandated by your particular state. “No insurance” coverage is of course a must have (in case a driver without insurance hits you). Also I also pay a few dollars more for “under-insurance” coverage (in case driver’s with low insurance coverage hits you).
As far as extended warranties, I never buy them since I feel they usually are so limited as to not be worth the money but that is just my opinion.
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