I assume when making this choice there is a great reduction in premium?

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PostPosted: Fri Dec 28, 2007 10:20 pm   Post subject:   

Ok found it, you've actually posted in this thread it too is PA, I think second page or so is where we get into this...re-read this thread and see if it answers your question re:your states ''funny'' laws...Smile



http://www.ampminsure.org/start/about3457.html



As you see the OP in this thread ''may'' have an out because it's an out of state driver (meaning can sue the ''guilty'') but if both PA it is my understanding she would have zero option (re: injury settlement against this driver)...I have very limited personal knowledge of this...I assume when making this choice there is a great reduction in premium? On the upside if the other party choses it they can't sue you or recover from you either right?



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PostPosted: Fri Dec 28, 2007 10:25 pm   Post subject:   

Quote:
PA is a choice-no-fault state. Choice-no-fault is a hybrid of the pure no-fault system. Under this system, drivers have the choice of being insured under either a pure no-fault plan or a modified no-fault plan. Under the pure nofault plan, one is unable to sue negligent drivers for non-economic damages, and is immune from such suits himself/herself. Under the traditional tort (personal injury suits) rights, one can sue other drivers who have also chosen to retain their tort rights, and in return they can sue him/her. If one that has chosen the modified plan has an accident with a driver insured under the pure no-fault plan, they are both unable to sue the other party.


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PostPosted: Fri Dec 28, 2007 11:06 pm   Post subject:   

It would be hard for me to replace the pick up and even though we don't use it much, when we need it, we need it. So I think I will leave the comp/collision on it. What do you think about the dropping the comprehensive coverage?

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PostPosted: Fri Dec 28, 2007 11:13 pm   Post subject:   

With the tort thing, My mother was with me when someone rearended us, she got pretty messed up, it was only because I had full tort that she was able to recover everything, I think I will go ahead and keep full tort. I am not sure at this point that I am willing to change anything, I drive about 35 miles one way to work everyday and deal with some nuts on the road, alot of coal trucks that fly and younger people that do the same. I would not want an accident to get me so far in the whole that I would loose my home or anything else because I could not go to work or something. I purchased a gap insurance on my car, still paying on it, so I wanted to make sure that I was protected their on the value in case of total loss, they would pay the balance that the insurance company would not. I take this insurance coverage very seriously, because I know financially an accident affects more than just the car, it could affect your entire life financially and physically. I may be over cautious, but I just don't want to hear, "sorry, that is not covered". I am really nervous about making these changes and I do appreciate all you input Lori, sorry to ramble, but this really concerns me.

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PostPosted: Sat Dec 29, 2007 10:30 am   Post subject:   

Quote:
I purchased a gap insurance on my car, still paying on it, so I wanted to make sure that I was protected their on the value in case of total loss, they would pay the balance that the insurance company would not.
Here is an area you might be able to trim, if you want I'll run that value too, and you can see if GAP is still needed (it may not be if you owe less than the ACV now)...
Quote:
I take this insurance coverage very seriously, because I know financially an accident affects more than just the car, it could affect your entire life financially and physically. I may be over cautious, but I just don't want to hear, "sorry, that is not covered"
. I wish more people thought this way!
Quote:
I am really nervous about making these changes and I do appreciate all you input Lori, sorry to ramble, but this really concerns me.
no apology needed, want to make sure you understand everything...now what about those deductibles? hum? that's an often overlooked way to save big (some times)....



Quote:
I think I will go ahead and keep full tort. I am not sure at this point that I am willing to change anything
Think I would too, if I were in this type of state.

Quote:
What do you think about the dropping the comprehensive coverage?
Well, got any deer in PA? Laughing again, look at these deductibles...and see what you have on your vehicles deductible wise, and lets look at that...personally on a 7k vehicle I'd keep it...


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PostPosted: Sat Dec 29, 2007 12:15 pm   Post subject:   

I just bought the car last year and the gap is fully paid for and not refundable through the dealer, so I am stuck there, I won't pay anymore for it.



As far as the tort, I am glad you agree, I know I have seen people have big issues with that when they have been seriously hurt.



Deer, oh my god, do we have deer and I live in the sticks so, we have even more, I feed them in my back yard.



So, I am not gonna change a thing, I guess I will just bear the burden of paying the higher insurance, I will wait till the policy is about to renew and then shop around and see what is out there.



thanks for all the advice Lori, you have been very helpful, I appreciate all the time and effort that you have put into this.

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PostPosted: Sat Dec 29, 2007 1:30 pm   Post subject:   

Quote:
So, I am not gonna change a thing,
CHECK THOSE DEDUCTIBLES ! Wink and any other coverages that may not be a necessity to you...



Quote:
thanks for all the advice Lori, you have been very helpful, I appreciate all the time and effort that you have put into this.




my pleasure, truly


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PostPosted: Sat Dec 29, 2007 5:06 pm   Post subject:   

I still have some time, I will review everything about twenty times, I probably will revisit with some more questions.



Looking over the policy I have $50,000/$100,000 per person/Accident UM on each vehicle, without stacking/full tort. Can you look at this for me please Lori or explain it a little more. Is this something that I could stack, and what is the difference between stacking and without stacking? Would stacking be just as good, since one sits most of the time?



Also have



Bodily injury...... full tort

$50,000/ $100,000 per person/accident

Property damage $50,000 per accident

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PostPosted: Sat Dec 29, 2007 11:53 pm   Post subject:   

Stacking doesn't protect YOU re:if you injury another person. I don't know of any state that would allow you to stack your BI coverages (injury to another person that you are liable for).PA has some funny laws though, I'll try and check those for you tomorrow morning (grandson is not letting Nana work very well now! Wink )..so you see you ONLY have 50k per person, 100k per accident, I think that is too low, I would carry a min. of 100k per person....(tell me if you don't understand this)...50k (as you can see from this forum) injury isn't uncommon..



As to your PD limit, again I think a little low I would ( and do) carry 100k...50k isn't awfully low, and would 99% of the time handle any pd exposure...but I always worry about (with my luck) lets assume I cause an accident that thru some chain reaction causes damage to four cars, then they all run into a house or something....wouldn't take long to eat up 50k fixing all of those cars....and a house! Rolling Eyes



Stacking (only allowed stacking I am aware of) relates to UM and UIM. If you are injured by an uninsured (or underinsured) motorist and your state allows UM/UIM stacking and you have two policys such as you mentioned, then there is a limit of 100k per person per accident (assumes you have two policys with 50/100 um coverage) ...your UM coverage is probably fine, especially if your state allows stacking, and see you can't sue yourself for being under insured on your UM coverage (does that make sense?).



This isn't what you wanted to hear I know, that I think your BI (especially) limits are too low... Crying or Very sad What does anyone else think? Maybe I'm more paranoid than others being an adjuster for so many years and seeing excess policy limit claims over the years... Rolling Eyes



Still girl friend....the deductibles...and do you have any other coverages? Such as road side assistance? rental? accidental death? voluntary med pay? Do you have both vehicles with the same carrier (multi car discount), do you have ALL of your insurance with the same company (companion policy discounts), any chance you're 48 or so? The company I have all of my insurance with also has a '48 plus' discount that once the youngest driver in the house reaches 48 (23rd of this month thank you very much! Wink ) we get another discount...I'm sure other companies have similar discounts different ages maybe...



Let me know what you think...I'd also like to hear from the others particularly agents what they think about this...and the limits....???????????????????????????????



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PostPosted: Sun Dec 30, 2007 2:01 pm   Post subject:   

Lori, I am going to Pm you the company name, see what you think, I had coverage through a local carrier and then got this coverage through my union hall promotion. I have no local contact on this insurance, everything is done online or over the phone, which I am ok with as long as I am truly covered the way I should be.

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PostPosted: Fri May 28, 2010 8:19 pm   Post subject: Comp/Coll  

This is an older post but since I came across it in a Google search I feel there may be a folk like me that still read this info. There are a number of posts here encourageing you to not drop Comp/Coll on older vehicles. This is contrary to financial advice by most reputable organizations (such as the Insurance Information Institute). If you are "uncomfortable" not having Comp/Coll, or if you believe you are "tempting fate," these are psychological issues that play into the hands of insurance companies. Insurance is (or should be) a financial decision - what else does insurance provide other than money? Fear of being sued shouldn't play into this decision - Comp/Coll has no impact in this area, to my understanding. Be sure to purchase the inexpensive uninsured motorist insurance just in case the driver at fault is uninsured or underinsured.



Insurance companies sell you Comp/Coll insurance because they feel they will get more money from you than they will have to pay getting your vehicle repaired. If you drive safely, they are almost certainly correct. So if you can stand the low probablility that you as a safe driver will total your vehicle due to your own fault, keep this money in your pocket. Maybe the reason you don't think you can afford to have your vehicle totaled is because you are spending thousands evey year for insurance you don't use. You are much more likely to save money this way than paying money to the insurance company.


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