Who knows auto insurance? Ins outs loopholes

[Ricko1966]

Still no police report!!!!! GRRRRR!!!!

 

[electoqute]

Interesting. What’s cya? UIM?
Are you saying your full collision coverage on your $60k truck didn’t pay the rest?

CYA = cover your ass
And no they paid $47 I got stuck with the rest. Most insurance only covers what a comparable replacement would cost ( Kelly blue book value ) IN YOUR AREA. accessories or upgrades don't count.

 

[Grit dog]

CYA = cover your ass
And no they paid $47 I got stuck with the rest. Most insurance only covers what a comparable replacement would cost ( Kelly blue book value ) IN YOUR AREA. accessories or upgrades don't count.

You didn’t answer the question.
And I’ll assume you didn’t have UIM (I don’t because it’s a waste if you have full coverage, you’re only gambling your deductible).
Your previous post said you got the $30k from the OP and that was it. But uou added now that your ins actually covered the difference. Like they should.
Out of curiosity what was the vehicle and miles on it?
And accessories and upgrades don’t count more than whatever you have or you’ve added to your ACV coverage ….for YOUR policy. If you’re getting covered under another at fault party with sufficient insurance they’re on the hook (up to totaled cost + accessories/mods).
But what sounds like really happened is you had a vehicle that you were upside down on and that isn’t your primary insurance policy responsibility. Or just flat got hosed on the ACV.
If you showed the ins a half dozen comparable vehicles to yours for sale for $60k ( then you add TT&L) you’d have gotten that much. If you didn’t, they will take advantage of you.
Also I’d like to know what Insurance company you can get stated value coverage on a normal newer vehicle for $20/mo extra. It don’t work that way stated value is used only for exotic, antique/ highly modified and most require an appraisal. However AmFam does it in house no appraisal for classic cars. Got 2 like that currently.
Your extra $250k cya coverage is not collision coverage either. A large round number like that is either liability, PD or BI coverage. None of which cover your vehicle.

 

[Grit dog]

Still no police report!!!!! GRRRRR!!!!

Any update?

 

[Grit dog]

I see alot of confusion and lack of understanding about auto insurance. As it is a significant expense with even more significant ramifications attached, for any law abiding person, it pays to get oneself at least a working knowledge of your policy’s and what they cover and what you donor don’t need, as well as understanding of how others policies can benefit or hurt you. (Like the state min coverage and how to defend against that)
Furthermore, insurance companies are a retail business and they make money on sales. The more policemen the more adders they can sell you, the more $ they make. They don’t make jack **** selling state min coverage liability policies because these are the highest risk customers. They make $ selling adders like UIM BI and PD, BI polices, towing and service packages, more liability coverage than you need, etc.
UIM is a sham because you have to have full collision to get UIM. So now you have 2 coverages for the same thing (your cars damage) and the only difference is UIM is zero deductible. So you pay $150 per term for UIM and after 2-4 years you’ve paid more than your deductible would cost to use collision coverage.
BI for self? Like UIM, if you have normal health insurance, you’re only gambling your health ins deductibles and co pays to get your injuries fixed. And if it’s serious you probably ain’t got enough BI to cover it anyways.
All food for thought.
Not only is coverage expensive, but so is getting hosed by not knowing what’s covered and what isn’t.

 

[Ricko1966]

Oh this deal 8s total B S. Busy atm will post later.