auto insurance collision deductible costs

Posted: Sun Mar 01, 2009 02:26 pm Post Subject:

The skinny of this whole idea of Higher Deductibles to save money works best for people like me, that get into a fender bender every 25 to 30 years

Before one Up's that deductible... Call you Agent and get the Real Numbers..! Then divide the amount of the deductible increase by the annual savings amount to get your "Break even" point. [ number of accident free years required to recover the deductible increase ]

Just My Thoughts... and I'm sure that if I've misstated anything... someone will tear me a new one...

Posted: Sun Mar 01, 2009 03:02 pm Post Subject:

HI Lori,

WOW I Feel like I'm being attacked. I did not want be a pissing match at all, And I truly wanted this thread to be about the reason about the first post.
That fact is "Anna" is my wife. The truth of it is I made my post just before I left for work, and left the site up. My wife thought she would help by making a few posts of her own after I left. This was her first time posting on a forum and she did not read the rules and she tried to go back and remove the links but the system would not let her. She does have a blog as well about IDA because it has truly changed my life and financial situation. And I am sorry that this turned into a "setup" thread" that was not my intention, I wanted it to stay on topic.

As far as the "wrong" information on the site I agree that information is wrong you don't have to pay your portion before the insurance company does. You're making a big deal about a small error in verbage on the FAQ page, I did sent it to the I.T. team to have them fix it after you brought it up though, the site was put up by our web designers and sometimes they use their own words, so thank you for pointing that out.

You said "the Head honcho" says we launched on September of 08 which is correct as far as the marketing side of the company. By the way I am one of the "Honchos" as you put it And The company of IDA has been selling the CDRP for over 5 1/2 years, and has been doing legal work and product development for over 9 years. We spent the last 5 1/2 years going to every state and getting the OK for the CDRP.

Also We do not cover Comprehensive and don not ask you to raise it, Collision is one of the most expensive portions of a policy and by raising just collision will save you 10% - 40%.

About the "Filthy Rich" thing Come on, for me filthy rich is doubling my income in the last 5 months. The truth is we help people save money in a way that they would not have thought otherwise.

We are not a "shirt tale cousin of a pyramid scheme" All insurance companies fall into this category.

And as far as honesty issue, Like I said before this posting was to be just about the original post and anna got a little excited about posting, so who cares everyone makes a mistake, so lay off please.

And I agree with FK, LIke I said the CDRP is not for every one, it is there to help people to start saving money.

and as a additional fact the IDA is not and insurance company and the CDRP is not an insurance product it is a Service Contract and Savings Program. You do not need to switch companies or agents to use the CDRP.

Oh and Lori, I did try to openly discuss the CDRP once but my posts were deleted without even a response from the board. I am interested in helping people save money, and just like you, an insurance agent, I get paid to help others. The fact is we both have the same goal. You are on this forum to help others and to build a reputation for yourself to drive business as an agent.

Just My Thoughts... and I'm sure that if I've misstated anything... someone will tear me a new one... Smile

Posted: Mon Mar 02, 2009 08:52 am Post Subject:

Let me see. Give this company my saved $1000 or save it myself and put it in an account that I can gain interest from until I have an accident? I only went to one of them higher education skrools for 4 years so I’m going to have to think on this one. I’ll have to get back to you. :?:

Posted: Mon Mar 02, 2009 03:08 pm Post Subject:

Hi Dasfuk you bring up a good point why not put the money in a savings account. Lets say that you raised your collision deductible today and you were saving $25 dollars a month on your insurance It will take 40 months to set aside your $1000. Now put that money aside in a savings account where you earn interest, with that type of money you will get around 1-2% annual return.

What happens if you have a wreck before your 40 months have gone by? Where are you going to come up with the difference? You now have increased your financial risk during your funding period.

This is were the CDRP comes into play if you have an accident before you have set aside your full $1000 IDA will advance you the difference interest free and you just pay back the advance at a minimum of $25 a month. Your savings account cant do that.
You can also set up a $1000 CDRP for as little as $650. Lets see if I do that I could compare that to return of 53.8% just on the initial funding, Plus lets say that you still save $25 a month that is $300 a year that would compare to a 46% annual rate of return, a penny saved is a penny earned. The CDRP is not an investment but I don't know of a bank account that give those types of returns.
Plus what happens if you have 2 cars? and you wreck both cars in a short amount of time? By just setting aside $25 dollars a month in a bank account your risk is even greater with the more cars you have.
This is another place where IDA's CDRP is a better option because one CDRP covers all cars and all drivers in the household. So lets say you have set aside your money in a cdrp and you wreck your car, the cdrp funds the deductible for your accident. Now 2 months go by and or what ever length of time you want and you have another accident in your household the CDRP will advance you an additional $1000 interest free to cover the additional accident. A bank account would not do that. And your funds are FDIC insured with a CDRP so they are safe.

Like I said before the CDRP is not for all people, BUT it is a great savings tools that can help millions of people.

Have a great one,

Ryan

Posted: Mon Mar 02, 2009 03:18 pm Post Subject:

Subhedar, WHY DID YOU REPOST ONE OF MY POSTS AS YOUR OWN?

WOW I Feel like I'm being attacked.

I don't work for the company, I just heard about it and thought it was cool.

Has anyone heard of the new company IDA? I've heard a little bit about it and it sound like they'll help you set up an account that is meant specifically to cover your deductible.

So Ryan - it might be a little late, if you've already been in an accident, but it would be a good idea for next time.

And as far as honesty issue, Like I said before this posting was to be just about the original post and anna got a little excited about posting, so who cares everyone makes a mistake, so lay off please.

I'm sorry honey but this all still looks fishy to me...appears the OP that you are 'responding' to is also a rep for this company (ryan)..so....are you SURE you have no affliation with this company? it's fine if you do, you just need to follow the rules of the forum...but there will be only one shot at being truthful ok?

Oh and Lori, I did try to openly discuss the CDRP once but my posts were deleted without even a response from the board

just like you, an insurance agent, I get paid to help others. The fact is we both have the same goal. You are on this forum to help others and to build a reputation for yourself to drive business as an agent.

Thanks FK I feel like the one I have has been sufficiently enlarged for no reason at all...

I only went to one of them higher education skrools for 4 years so I’m going to have to think on this one. I’ll have to get back to you.

Posted: Tue Mar 03, 2009 12:59 am Post Subject:

After some serious deliberations with my toaster oven and lamp (yes they talk to me but only when I ask them questions, but that’s another story), we have concluded that this walks and quacks like a duck.

Now I don’t pay for my car or my insurance so this plan really isn’t for me, but I can’t understand why people wouldn’t keep their deductible at $500 and curb expenses that aren’t necessary. If people were true to themselves, there are a lot of expenses that are not necessary but are made every day.

Posted: Tue Mar 03, 2009 01:21 am Post Subject:

I think the whole thing is a big old crock of you know what. Ckming onto the site underf alse pretenses and trying to make a buck is just wrong. Honesty would have been the best way to approach this forum and that was not done. Anyone who reads through this entire post will see Lori calls these people on there bluff several times. Lies, lies, and more lies. All I have left is one question...Who wants to do business with an untrustworthy company?

Posted: Fri Mar 06, 2009 02:41 pm Post Subject:

I wonder if this is something Mark the pilot would be interested in. There is an online tutorial that gives a breakdown of the IDA mlm system. I think it is called building wealth.

Posted: Fri Mar 06, 2009 02:57 pm Post Subject:

I wonder if this is something Mark the pilot would be interested in.

There is an online tutorial that gives a breakdown of the IDA mlm system. I think it is called building wealth.

Posted: Tue Jul 07, 2009 11:30 pm Post Subject: Just Plain Smart

Mr. Ryan Green, Reminds me of buy term insurance and invest the difference Good Concept !