I answer your auto insurance questions?

[Thunder_Snus]

Hey everyone. I've realized snuson is quite a center of knowledge for various subjects and I thought maybe I could contribute. I know most of you seem pretty smart but i deal with smart people on a daily basis that dont know anything about their auto insurance. If anyones got any questions or anything similar feel free to ask and I'll do my best to answer. I'm also bored on a Saturday Night so this will give me something to do.

Also anything insurance related I could take a stab at. I do know bits and pieces about other lines of insurance.

[Crow]

I'm very satisfied with my current auto insurance provider (PEMCO). I see no reason to switch. Thanks for the offer though!

[Thunder_Snus]

I'm very satisfied with my current auto insurance provider (PEMCO). I see no reason to switch. Thanks for the offer though!

I wasnt trying to get anyone to switch their insurance or even tell people where it is i work. A lot of people dont know what insurance actually is or what certain coverages do or are for. I thought perhaps I could help people better understand what exactly they are paying for every 1to3to6to12 months. Funny commercial though. I'd love to move to Seattle when I'm done with school.

[CoderGuy]

I wasnt trying to get anyone to switch their insurance or even tell people where it is i work. A lot of people dont know what insurance actually is or what certain coverages do or are for. I thought perhaps I could help people better understand what exactly they are paying for every 1to3to6to12 months. Funny commercial though. I'd love to move to Seattle when I'm done with school.

It's great here, you would love it. We welcome you.

[Crow]

It's great here, you would love it. We welcome you.

Absolutely.

[Premium Parrots]

OK......heres a question for you.



when your child gets his drivers license and starts to drive your car or any car registured in your name [doesn't own a car in his name] what do you tell your insurance co?

[Thunder_Snus]

OK......heres a question for you.
when your child gets his drivers license and starts to drive your car or any car registured in your name [doesn't own a car in his name] what do you tell your insurance co?

GREAT QUESTION! Now this COULD vary between companies but TYPICALLY you would call/go to your insurance company and tell them your son has gotten his license (do this beforehand because lots of companies give discounts to kids for doing things while they have their learners permit.) From here it can get tricky. Say PP and PPWife have 2 cars they each drive. If a car isnt being added with the driver then PPKid will probably be rated as an occasional driver on one of the vehicles. But lets say PP buys PPKid a car for his birthday and you now have 3 drivers and 3 cars....PPKid will be listed as a principal operator on one of those vehicles which will cost more. That being said. PPKid is going to cost more than PP or PPWife, unless one of you two has a terrible driving history. I can tell you though the WORST thing you could do is let PPKid buy a car where only he is the registered owner. With him being the only RO he doesnt qualify for a lot of potential discounts that most companies offer. Although PPKid will cost more premium, most companies give you opportunities to drop that drastically....good grades....taking a certain driving course....most companies other than those that think giving you state minimums is what everyone wants, will offer discounts for those. The good grade discount is usually a B average or above (showing proof of this required) and usually the driving course is something the company offers. You might fill out a trip log or watch a video or anything really.

Was there anything you wanted me to particuarly expand upon or does this cover it?

[Premium Parrots]

wow


the real logical answer is simply "nothing"

Don't tell em a dam thing because PPKid is an occasional driver. Your rates won't go up cuz of this. It doesn't matter how many drivers there are and how many cars are registered to you.

Just something to help those of you that have kids getting ready to drive.


Later I can tell you how to save thousands on a college tuition.


btw, thunder, your answer is very good and makes sense. Great job they taught you well. However, my answer holds true also....and is alot cheaper.

[Thunder_Snus]

wow
the real logical answer is simply "nothing"
Don't tell em a dam thing because PPKid is an occasional driver. Your rates won't go up cuz of this. It doesn't matter how many drivers there are and how many cars are registered to you.
Just something to help those of you that have kids getting ready to drive.
Later I can tell you how to save thousands on a college tuition.
btw, thunder, your answer is very good and makes sense. Great job they taught you well. However, my answer holds true also....and is alot cheaper.

Well to expand, most companies would put him as an occasional driver on one of the vehicles which would cause the rates for the vehicle to go up but not as much as saying he was the principle operator. Yes you COULD do nothing and not tell your insurance company. However out of PP PPWife and PPKid, PPKid is the most likely to have an accident. and if PPKid is 17 and your insurance sees hes had his license for a year and you havent told them... that is when some real bad things could happen. Extremely raised rates, cancellation, and depending on the state you could possibly be looking at insurance fraud, which is a felony. To be honest, if you're with a good insurance company (i wont name names) putting littlePP as an occasional operator on a vehicle and making him take the company course and making him get his damn grades up should not raise your rates by any unspeakable means. Now with most companies you will be rewarded for things like not having accidents, staying with the same company and other things like that.

Another thing to consider is that even though PP is the father, littlePP probably will have friends. Those friends might have cars and littlePP might drive those cars. If littlePP isnt insured by your insurance company then he wont be insured at all and would be driving his friends cars uninsured. You could probably still have coverage if he was driving one of your cars but not someone elses (and if he got in an accident in your car read above). The other factor that i guess would be considered not insurance related is that littlePP will need to show insurance (through you guys) to take his drivers exam, he wont be named on the policy yet though because he doesnt have his license. Now after that sure you could neglect informing your insurance in most states. But some states run a scan on all people with drivers licenses and if you dont show up with insurance your license will be invalid. and if little PP gets in an accident with an invalid license AND no insurance you're looking at a lot more than a little extra premium to add onto your policy.

[Skell18]

You get a discount in the US for good grades??? Here in the UK if you are a shit driver you pay a fortune, if you are a young driver you pay a fortune, if you have points on your licence you pay a fortune, if you drive a nice car you pay a fortune, if you live in the countryside, have loads of no claims discount and have a safe occupation, you pay a fortune! I drive a BMW and an Alfa Romeo and I pay £300.00 a year for my car insurance, this was only after hours of getting quotes and shouting at Indian call centers, the worst quote was £2,500.00 just for the Alfa (but it is priceless so I see their point, its an Alfa after all lol)!!!

But PP if you were over here and you did that and PPkid smashes the car and takes out a few others in the process, you and PPkid would be ****ed, the insurers would pay the claim as RTA insurer but then come after you for every penny they had to pay out, or the MIB would if there was no insurance in place. I have one at the moment which just settled for about £3,000,000.00 damages and a PPO of £100,00.00 per year, costs will be close to £1,000,000.00. So the parents who let their child drive their car without being insured, who went on to kill his passenger and seriously injure the person driving the car he hit, will now be paying that back to the insurers for the rest of their and their children's and possibly their grandchildren's lives, all because they didn't put the kid on the insurance.

Its a worst case scenario but as an insurance lawyer I have to deal with this all the time, which is why if in doubt ask the insurer!

[Thunder_Snus]

You get a discount in the US for good grades??? Here in the UK if you are a shit driver you pay a fortune, if you are a young driver you pay a fortune, if you have points on your licence you pay a fortune, if you drive a nice car you pay a fortune, if you live in the countryside, have loads of no claims discount and have a safe occupation, you pay a fortune! I drive a BMW and an Alfa Romeo and I pay £300.00 a year for my car insurance, this was only after hours of getting quotes and shouting at Indian call centers, the worst quote was £2,500.00 just for the Alfa (but it is priceless so I see their point, its an Alfa after all lol)!!!

But PP if you were over here and you did that and PPkid smashes the car and takes out a few others in the process, you and PPkid would be ****ed, the insurers would pay the claim as RTA insurer but then come after you for every penny they had to pay out, or the MIB would if there was no insurance in place. I have one at the moment which just settled for about £3,000,000.00 damages and a PPO of £100,00.00 per year, costs will be close to £1,000,000.00. So the parents who let their child drive their car without being insured, who went on to kill his passenger and seriously injure the person driving the car he hit, will now be paying that back to the insurers for the rest of their and their children's and possibly their grandchildren's lives, all because they didn't put the kid on the insurance.

Its a worst case scenario but as an insurance lawyer I have to deal with this all the time, which is why if in doubt ask the insurer!

i think you must have left as zero or two out saying you pay 300 for insurance. It is pretty hard to sit through and listen to people talk about how they can't afford much because they got into a large accident carrying only state minimums for they have their wages garnished for the rest of their lives, but thats why you need to have more than just state minimums. Here in Illinois the least property damage coverage you need for liability is 15k. Hell when i go to work I usually have to park between a lexus and a jaguar. So if i total both those cars my insurance would cover maybe a bumper on each car. Insurance is the transfer of financial risk. If I had state minimums all i did was transfer 15k of property damage to the insurance company. Sure they will cover 15k of property damage but if i cause an 8 car pileup you can bet i'll be getting my wages garnished til im 80.

[GoVegan]

i think you must have left as zero or two out saying you pay 300 for insurance. It is pretty hard to sit through and listen to people talk about how they can't afford much because they got into a large accident carrying only state minimums for they have their wages garnished for the rest of their lives, but thats why you need to have more than just state minimums. Here in Illinois the least property damage coverage you need for liability is 15k. Hell when i go to work I usually have to park between a lexus and a jaguar. So if i total both those cars my insurance would cover maybe a bumper on each car. Insurance is the transfer of financial risk. If I had state minimums all i did was transfer 15k of property damage to the insurance company. Sure they will cover 15k of property damage but if i cause an 8 car pileup you can bet i'll be getting my wages garnished til im 80.

That's when you go for the hit and run option.

[Thunder_Snus]

That's when you go for the hit and run option.

Lol yes hit and run is always an option and up until about 2002 it was usually a pretty successful option. Unfortunately for people that take that route there are camera just about everywhere in every city as well as tens to hundreds of people with cell phones capable of taking pretty clear pictures of license plates even if theyre speeding away. And if you have a hit and run on any reports i pull up I can guarantee that will be a denial of coverage unless I instead surcharge you for roughly 180% of your premium.

[Thunder_Snus]

And Just a small tip for those of you that got a ticket and went to a class to "get it off your record" It may be off your DMV report or any reports that are shared by police departments but i will still see it and mark it accordingly.

[Skell18]

I really don't understand how your ins works its crazy! Here for motor there is fully comp, third party fire and theft and third party. FC covers all and the indemnity limit is unlimited for TP claims. Also no I pay £300 a yr for my insurance I have. Jilt ip years of no claims bonus live in a safe area have a low risk occupation and have every security device going, my renewal from my last insurer was 450 quid! I have never paid more than £700 for motor ins but then again I am not 17 driving a chaved up saxo, and in a low risk group with a (now) clean licence. We have some of the highest priced insurance in Europe too!