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 Posted: Fri May 08, 2009 2:12 pm Post subject: How do I know if my car is over-insured? |
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Can someone really be over-insured? Won't the underwriters help us decide it the right way!
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WandererSierra
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| Posted: Fri May 08, 2009 3:46 pm Post subject: |
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Insurance is required to cover up expenses made after accidents. Isurance is a form of risk-management. A balance between your own need/ risk & premium is required. You may be paying higher premium to safe guard some of the risks having very less possiblity. So be careful.
Another better approach is to have a balance in investment & insurance |
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anilyps
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Joined: 04 May 2009
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| Posted: Fri May 08, 2009 8:19 pm Post subject: |
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| Yes, it is possible to over-insure ones self... with the effect that the person is paying for more coverage then they need. Your agent is there to provide you with this information but also the agent is usually paid base on the amount of premiums they bring in. So the agent may be a little bias. This is why you want a good agent. |
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tcope
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Joined: 22 Nov 2006
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Location: Salt Lake City, UT
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| Posted: Sat May 09, 2009 4:49 am Post subject: |
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| Okay, if you are driving a ten year old car with no lien on it but still carrying collesion/ compregensive on the vehicle, you may be over insured. I'd second Tcope, talk to your agent and find out about the areas where you can lower or do-away with the coverage. |
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kelvin
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Joined: 22 Nov 2005
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| Posted: Sat May 09, 2009 11:25 am Post subject: |
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Hi,
Getting over-insured is quite common these days. Insurers these days are trying to identify different areas for which you may need coverage. In doing so, they're coming up with different products and benefits for you. Now, all of these benefits won't come to you for free.
So, it's pretty much up to you to decide which areas you need to get covered for. If you're not careful you're gonna end up paying too much unnecessarily!
ArindamSenIndies |
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ArindamSenIndies
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