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Virtue posted:Not if you have a shitload of liquid assets in excess of the balance exposed to a lawsuit. That’s most likely good to be for a bodily injury liability claim not property damage
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May 3, 2024 12:51
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| # ? May 24, 2024 18:40 |
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DangerZoneDelux posted:That’s most likely good to be for a bodily injury liability claim not property damage Nah, the insurance company, if their insured isn't at fault, will absolutely try to recover any money they pay out, regardless if it's for injury or property damage. They have whole departments dedicated to this.
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May 3, 2024 14:03
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PD is cheap, the difference between a 100k and 250k limit is often just a few dollars over the policy period
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May 3, 2024 15:11
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I Don't work in claims any longer, but I still work in the property and casualty insurance industry and we have a 500,000 combined single limit for our auto policy, a similar limit on our homeowner's policy, and an umbrella policy over the top of that just because I know how quickly poo poo adds up these days with claims.
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May 3, 2024 16:17
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The thing about a 2m umbrella policy (or 1m to a lesser extent/amount) is that realistically it makes you functionally immune to most lawsuits up to 5-10 million or so. I got a judgment that was way over 2m but I guarantee my lawyer would have essentially forced me to agree to a 2m payout (I probably would have agreed without being forced anyway). Maybe even less like 1.2 or 1.5. And then in most states (some? all?) if the claimant agrees to settle within policy limits but the insurance company won’t do it, they’re on the hook for any excess judgment, not you.
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May 3, 2024 16:30
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My geico car insurance has been slowly creeping higher and higher these past few renewals, so I'm shopping around for a change. Has anyone used Navy Federal Credit Union or USAA for their insurance needs, and if so, have you found them to be significantly more affordable than other companies? My mother in law is a veteran, so we'd qualify for membership through her (may need to sign her up for an account too, but they both offer free checking accounts so I'm not worried about that). I don't really plan on using any of their banking products, but with the potential insurance discount and the possibility that we might be shopping for a mortgage and/or car loan in the next few years, it seems like it might be a good idea to sign up. It seems excessive to sign up for both, so I'm wondering if anyone has any positive or negative experiences with either.
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May 13, 2024 08:30
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USAA insurance was their halo product for a long time, I would get a quote from them at least. When I originally signed up they were SIGNIFICANTLY cheaper than competitors, same for my wife. I'm still very satisfied with them but I'm not certain anymore that they unquestionably the best/cheapest option.
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May 13, 2024 13:27
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I've been with USAA a long time. I have comprehensive/collision on a 2020 vehicle, 300k/500k and it's $815 for 6 months. They have always been solid with claims, but my perception is that USAA's service has dropped across the board. They were my one-stop shop for banking and insurance, but I'm moving the banking away and probably the insurance, too. I will be quoting this summer because they jacked up my home insurance 25%. That means I'll be moving all the products, almost certainly. It's a pity because they were a company I trusted, but now they seem like everyone else. I don't think they're competitive price-wise, and a friend I converse with did better on his cars with Geico. My theory is that insurance is now one of those things where customer acquisition is the important thing and retention is not. Gotta keep moving. It doesn't cost you anything but time and organization to quote, so I'd include them.
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May 24, 2024 15:43
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