What is everyone paying on insurance?

[94toy22re]

For some reason I'm paying 120 a month full coverage on the yaris with multiple vehicle discount. It seems a little high! I had a FJ cruiser 55 a month and Lexus is300 88 a month same discounts and coverage on all of them. So why is the yaris so high? No tickets or accidents same insurance company.

[matti]

I have a clean driving record and 2012 Yaris for me is $42/month. My wife's car is insured on same policy (Progressive).

[tooter]

I hold the pink slip on our 2012, and so don't need to carry full coverage for a car financing company. I pay $288 yearly from Wawanesa. That works out to $24 a month. :smile:

You might ask your agent why your Yaris is so high. There has to be a reason.

[CTScott]

Insurance costs vary quite a bit by location and your coverage, but in my case here in CT, I pay:

$72 per month for my 2011 Tacoma
$60 per month for my 2009 Yaris 5 door
$55 per month for my 2008 Yaris 3 door
$44 per month for my 1992 Celica GT Convertible

This is with State Farm, and I also have my homeowners insurance with them.

[nookandcrannycar]

I pay a little bit less that Matti. I think I only get billed 11 months out of the year as well. My policy total I know (for that policy) is over 440.00, but under 500.00. I have it (and my homeowner's policy) billed to my credit card monthly to get the frequent flyer miles (and don't pay extra to do that). I have liability only (no comp and collision), but I have AAA's highest personal auto policy limit and an umbrella policy. This is the only car on my policy, but I do get a discount for having my homeowner's insurance with them. I have 0 points on my record, but at my last renewal (reflecting my current rate) I had 1 violation (a driving on the median ticket from 2009 in New Jersey (along with 9 other drivers on the same stop) --- so I couldn't go to traffic school --- New Jersey only allows people who live in NJ, NY, and CT to go to traffic school for their offenses :rolleyes: (at least that was the case in 2009)). That 1 point just missed coming off on my last renewal (2012) by a few weeks.

[nookandcrannycar]

Insurance costs vary quite a bit by location and your coverage, but in my case here in CT, I pay:

$72 per month for my 2011 Tacoma
$60 per month for my 2009 Yaris 5 door
$55 per month for my 2008 Yaris 3 door
$44 per month for my 1992 Celica GT Convertible

This is with State Farm, and I also have my homeowners insurance with them.

Does State Farm make you have a rider for Crashy on your homeowners, or are they nice enough to include 'her' without one ? :smile:

[CTScott]

Does State Farm make you have a rider for Crashy on your homeowners, or are they nice enough to include 'her' without one ? :smile:

Since she's not registered (nor street legal), I don't carry insurance on her.

[nookandcrannycar]

Since she's not registered (nor street legal), I don't carry insurance on her.

:thumbsup: I realized when I posted that 'she' wouldn't be insured as a vehicle, I just thought State Farm might not consider Crashy a snow plow (I thought in the Northeast snow plows might be included on a standard homeowner's policy) . I sort of have 'vehicles to tend to land' (so to speak) on the brain right now because I walked into a Sears last weekend (for another reason) and saw a sea of riding lawn mowers in a separate area near the entrance. I didn't have time to look at them that day, but I will the next time I go to that mall.

[nookandcrannycar]

I hold the pink slip on our 2012, and so don't need to carry full coverage for a car financing company. I pay $288 yearly from Wawanesa. That works out to $24 a month. :smile:

You might ask your agent why your Yaris is so high. There has to be a reason.

You lucky (and smart) dog (your rate!). I had to do a serch for Wawanesa after seeing your rate. Unfortunately (in the U.S.) they only insure in California and Oregon :mad:.

[jRoss]

Wth! I'm paying 155 a month for my yaris's full coverage. Granted, i have one speeding ticket and i'm a 22 year old man in Indianapolis, but it still seems way too high. Should i try a different comany or what? Cause this payment is killing my wallet.

[matti]

It never hurts to go out and get a few quotes.

[YodaBird]

Where I live insurance is high. Most people I know pay $175 a month or higher, with $250 being average.

[jayeh]

Where I live insurance is high. Most people I know pay $175 a month or higher, with $250 being average.

YAY Ontario! Expensive booze and insurance!

I pay $126 a month and It's a steal compared to what I used to pay in Toronto!

[jayeh]

Wth! I'm paying 155 a month for my yaris's full coverage. Granted, i have one speeding ticket and i'm a 22 year old man in Indianapolis, but it still seems way too high. Should i try a different comany or what? Cause this payment is killing my wallet.

Move to Toronto, get a quote, then move back to IN and you'll feel better about your rate. :biggrin:

When I was your age I think I was paying $475 a month on a car that was worth about $50.00

[Exiwolfman]

106 per month in Collingwood , Toronto would be way more ..looks like USA insurance is way cheaper .

[edmscan]

I pay about $74 a month for my 2007 Yaris, including collision. Happy I don't live in Ontario .. but those rates in the US ($288 per year) is pretty amazing.

[nookandcrannycar]

Where I live insurance is high. Most people I know pay $175 a month or higher, with $250 being average.

$250 a month AVERAGE! For ONE car? That is insane. That's a bit more than CTScott pays for 4 cars, not 1.

[edmscan]

$250 a month AVERAGE! For ONE car? That is insane. That's a bit more than CTScott pays for 4 cars, not 1.

Welcome to Canada, where we are used to getting screwed over for just about everything. :thumbdown:

[nookandcrannycar]

I pay about $74 a month for my 2007 Yaris, including collision. Happy I don't live in Ontario .. but those rates in the US ($288 per year) is pretty amazing.

Yeah, and Tooter's company (the $288 company) is Canadian. The very short description of his company on the DuckDuckGo search page says that it is a mutual company (owned by the policyholders). Such companies don't always keep their initial low rates. I used to have great policies with Nationwide (also a mutual style company). They jacked my rates up one year without anything changing on my profile.

[edmscan]

We have Wawanesa here too .. and they are not one of the cheaper rates out there.

[tooter]

I can't complain about Wawanesa.
I'm happy to pay $24 a month. :smile:

[nookandcrannycar]

I can't complain about Wawanesa.
I'm happy to pay $24 a month. :smile:

Oh, definitely. My intended point was that not all mutual insurance companies are as good as yours/created equal, but I neglected to come to that direct point. If I still lived in California I'd definitely give Wawanesa a call :biggrin:!

[Ripsaw]

Not knowing your age. If over 50 try AARP/Hartford for a quote!

[phaznet]

280$ / month
26/male/ontario

beat that!

[veewonwon]

Toronto, $125.75 / month, '12 Yaris SE, 5-Sp, 5-dr, TD Insurance Meloche Monnex

No multi-car and no house insurance with them.

[nookandcrannycar]

280$ / month
26/male/ontario

beat that!

Insane. Does that reflect any speeding or other tickets?

[goliath1812]

Everything's more expensive in Ontario, but the salaries are higher too....

[jayeh]

Everything's more expensive in Ontario, but the salaries are higher too....

Except for when you're working a minimum wage job and paying 1/4 of your income for insurance alone... Then it's not so good.

[Superfly]

$110/monthly here in Chitown. Wish it would be cheaper but it is what it is.

[goliath1812]

Not saying it's great, but even minimum wage is a lot higher than it is here...

[Betrivent]

Was just gonna say, insurance for my car for a year is about 2k.

[mr9865]

2012 Yaris L, 49.17 a month. 26 year old single male. Snapshot discount

BODILY INJURY & PROPERTY DAMAGE LIABILITY
BI $100,000 EACH PERSON - $300,000 EACH ACCIDENT
PROPERTY DAMAGE LIABILITY - $100,000 EACH ACCIDENT

COMPREHENSIVE ACV LESS $250 DEDUCTIBLE
COMPREHENSIVE WINDOW GLASS
$0 DEDUCTIBLE FOR WINDOW GLASS

COLLISION ACV LESS $500 DEDUCTIBLE

UNINSURED MOTORIST
$100,000 EACH PERSON - $300,000 EACH ACCIDENT
UNDERINSURED MOTORIST
$100,000 EACH PERSON - $300,000 EACH ACCIDENT

[kc0rpm]

Damn, and I thought my insurance was high. Now I don't feel so bad. 136 a month for two vehicles and home owners ain't so bad afterall

[jayeh]

Anyone else from Canada shocked at how low the liability limits are in the states?

My company won't sell anything other than a 2 million dollar liability policy!

[edmscan]

Anyone else from Canada shocked at how low the liability limits are in the states?

My company won't sell anything other than a 2 million dollar liability policy!

Same here (I have 2 million as well) ... I think that is probably why we are seeing the rates in Canada are so much higher. Guess it all works out to bang for the buck.

[nookandcrannycar]

Same here (I have 2 million as well) ... I think that is probably why we are seeing the rates in Canada are so much higher. Guess it all works out to bang for the buck.

I would guess (not an educated guess as I have no information) that how low the companies go in Canada with their limits might have a basis in some law or regulation. I would think that the average accident in Canada would involve more damage than in the U.S. as a whole and that a significant reason would be that all of Canada experiences a 'Northern Winter'. In California, the minimum liability (at least within the least couple of years) hasn't changed in over 30 years at 15k/30k/5k. Here in the U.S. we have umbrella policies that usually require the total liability limit on the underlying policy to be at least 500k and kick in after that. The underlying policy limits are usually 500k or 750k and some companies will do 1 million. The umbrella policy adds an additional 1 million of liability coverage for typically $100 to $300 per year (not per month) depending on various factors. The umbrella policy also covers liability at your home (if someone trips and falls, for example) unrelated to vehicles. I'm just a diligent consumer, so anyone from the insurance industry please feel free to chime in. Of course some people purchase much higher limits.I heard Dave Ramsey say on the radio the other day (as part of an illustration during a call) that he personally carries an umbrella policy with a 10 million dollar limit and it costs him about $3500 per year. I wondered if 'Northern Winters' and strictness of various state laws in the U.S. might effect limits people choose. In looking at mr9865's post, my guess is that you would be hard pressed to find anyone in Texas, and especially in California making under $10.00 per hour who would carry anything more than the legal minimum. I wonder if the law in Wisconsin makes it prudent to have the limits he does.

[Foot]

47 dollars a month for full coverage on a 2010 LB.

[mr9865]

I would guess (not an educated guess as I have no information) that how low the companies go in Canada with their limits might have a basis in some law or regulation. I would think that the average accident in Canada would involve more damage than in the U.S. as a whole and that a significant reason would be that all of Canada experiences a 'Northern Winter'. In California, the minimum liability (at least within the least couple of years) hasn't changed in over 30 years at 15k/30k/5k. Here in the U.S. we have umbrella policies that usually require the total liability limit on the underlying policy to be at least 500k and kick in after that. The underlying policy limits are usually 500k or 750k and some companies will do 1 million. The umbrella policy adds an additional 1 million of liability coverage for typically $100 to $300 per year (not per month) depending on various factors. The umbrella policy also covers liability at your home (if someone trips and falls, for example) unrelated to vehicles. I'm just a diligent consumer, so anyone from the insurance industry please feel free to chime in. Of course some people purchase much higher limits.I heard Dave Ramsey say on the radio the other day (as part of an illustration during a call) that he personally carries an umbrella policy with a 10 million dollar limit and it costs him about $3500 per year. I wondered if 'Northern Winters' and strictness of various state laws in the U.S. might effect limits people choose. In looking at mr9865's post, my guess is that you would be hard pressed to find anyone in Texas, and especially in California making under $10.00 per hour who would carry anything more than the legal minimum. I wonder if the law in Wisconsin makes it prudent to have the limits he does.


Just need the bare minimum here in Wisconsin, I was just raised to be well covered. And I dont really feel that poor making 9.50 a hour. Ive got a roof over my head, a nice car, and a computer.

[nookandcrannycar]

Just need the bare minimum here in Wisconsin, I was just raised to be well covered. And I dont really feel that poor making 9.50 a hour. Ive got a roof over my head, a nice car, and a computer.

:thumbsup: Good for you. Truly. I think quite a few people fill their lives with 'consumerism' and still aren't happy, and I think one of the reasons for this is they lack gratitude, which you obviously have, and I have as well. I had terrible parents, but I had wonderful grandparents who were really more like my parents. I think a lot of people who aren't grateful and who aren't at peace missed having anyone who could give them a sane and grounded foundation. You got that and obviously appreciate it. Makes for a lot of inner peace :thumbsup:. In California there are likely some people whose attitude is as upstanding as yours but can't afford the extra cost (less so in Texas...I'm still continually amazed by how much less things cost here), but a larger number would be people who wouldn't entertain having more than the minimum liability because they don't have any assets and think to have a higher limit would simply be a waste of money. On a 'gratefulness note', I don't think I've ever met an unhappy first generation U.S. immigrant, no matter where they came from. Despite all our problems as a country, many people whose past is in another country feel grateful to be here.

P.S. A recent news story -- crazy IF it is true -- 7 billion people in the world. 6 billion have cell phones, but only 4.5 billion have access to a bathroom or latrine.

[jayeh]

I would guess (not an educated guess as I have no information) that how low the companies go in Canada with their limits might have a basis in some law or regulation. I would think that the average accident in Canada would involve more damage than in the U.S. as a whole and that a significant reason would be that all of Canada experiences a 'Northern Winter'. In California, the minimum liability (at least within the least couple of years) hasn't changed in over 30 years at 15k/30k/5k. Here in the U.S. we have umbrella policies that usually require the total liability limit on the underlying policy to be at least 500k and kick in after that. The underlying policy limits are usually 500k or 750k and some companies will do 1 million. The umbrella policy adds an additional 1 million of liability coverage for typically $100 to $300 per year (not per month) depending on various factors. The umbrella policy also covers liability at your home (if someone trips and falls, for example) unrelated to vehicles. I'm just a diligent consumer, so anyone from the insurance industry please feel free to chime in. Of course some people purchase much higher limits.I heard Dave Ramsey say on the radio the other day (as part of an illustration during a call) that he personally carries an umbrella policy with a 10 million dollar limit and it costs him about $3500 per year. I wondered if 'Northern Winters' and strictness of various state laws in the U.S. might effect limits people choose. In looking at mr9865's post, my guess is that you would be hard pressed to find anyone in Texas, and especially in California making under $10.00 per hour who would carry anything more than the legal minimum. I wonder if the law in Wisconsin makes it prudent to have the limits he does.

The minimum liability coverage is $200,000. I've never seen a policy under $500,000 Most policies are $1 or $2 million.

It's a total cash grab since the government limits the maximum amount people have to pay out after an accident.

The thing is the difference between the bare minimum and the maximum is about $20 a year.

[phaznet]

Insane. Does that reflect any speeding or other tickets?

Nope. I let my license expire. I had to go through the whole licensing g1, g2, full G. Even though I've been driving +10 years they consider me a driver since 2011.

[why?]

For near state minimums I am 33 y/o single, and pay $748 a year. When I lived in Florida for about the same coverage I was paying $1400 a year.

[nookandcrannycar]

For near state minimums I am 33 y/o single, and pay $748 a year. When I lived in Florida for about the same coverage I was paying $1400 a year.

^^^^^ Not surprising. I like a fair number of things about Florida, but the way a lot of people drive (especially in 'South Florida') :eek: (which I imagine would drive up rates) isn't one of those things.

[nookandcrannycar]

Nope. I let my license expire. I had to go through the whole licensing g1, g2, full G. Even though I've been driving +10 years they consider me a driver since 2011.

SMH. Sounds as though jayeh's 'total cash grab' point also applies to your situation.

[jayeh]

SMH. Sounds as though jayeh's 'total cash grab' point also applies to your situation.

Lapses in insurance are highway robbery. If you can't afford a car for a while they punish you by jacking your rates when you return. No matter what they are set to extract a certain amount of money from you... no matter what!

[nookandcrannycar]

Lapses in insurance are highway robbery. If you can't afford a car for a while they punish you by jacking your rates when you return. No matter what they are set to extract a certain amount of money from you... no matter what!

I wonder if the same situation in the U.S. causes a similar rate jackup ?

[goliath1812]

^^^^^ Not surprising. I like a fair number of things about Florida, but the way a lot of people drive (especially in 'South Florida') :eek: (which I imagine would drive up rates) isn't one of those things.

The way people drive, and also the fact that 25% of Florida drivers are doing so without insurance. The rest of us have to make up for it. Still much cheaper than Ontario though..

[nookandcrannycar]

and also the fact that 25% of Florida drivers are doing so without insurance.

Nice :rolleyes:. I don't know what the figure is here in Texas, but I believe we have a percentage of people without health insurance that is higher than any other state :thumbdown:.

[mrpj]

From the prices being paid in the U.S., as stated in this thread, it makes a refreshing change for something in the U.K. to be cheaper (for some people)!
I pay $302 per annum, at today's exchange rate, for my 2010 5 door Yaris 1.4 Diesel. That's for comprehensive cover, legal cover and protected no claims discount. There's a $532 voluntary excess, which helps reduce the initial premium, to be paid in the event of a claim which I may recover for a no fault accident (that's part of the legal cover). If I didn't take out the optional legal cover the $302 would reduce to about $250/annum.
Uninsured drivers and injury, usually "whiplash", compensation claims (many fraudulent) increase our premiums too

[94toy22re]

So I went shopping around today and went to liberty mutual, 60 a month with 100 deductible :thumbup: we're supposed to have hail/tornados next week so I'm covered, I'm 24 no accidents or tickets and live couple mile south of Oklahoma City.

[jayeh]

From the prices being paid in the U.S., as stated in this thread, it makes a refreshing change for something in the U.K. to be cheaper (for some people)!
I pay $302 per annum, at today's exchange rate, for my 2010 5 door Yaris 1.4 Diesel. That's for comprehensive cover, legal cover and protected no claims discount. There's a $532 voluntary excess, which helps reduce the initial premium, to be paid in the event of a claim which I may recover for a no fault accident (that's part of the legal cover). If I didn't take out the optional legal cover the $302 would reduce to about $250/annum.
Uninsured drivers and injury, usually "whiplash", compensation claims (many fraudulent) increase our premiums too

That is shockingly low. How old are you?

Also I kinda want your car. Want to trade?

[TPA5]

$1900 per year. Where I live age of the driver doesn't change insurance costs, but the public insurance system here is...well let's just say I have very few kind words for it. If you have anything even remotely new, it's just assumed you'll pay through the nose.

[why?]

I wonder if the same situation in the U.S. causes a similar rate jackup ?

It does. My sister lived in the UK for 3 or 4 years. Coming back and trying to even get car insurance was almost impossible. Only 1 company would cover her at all, and she paid through the nose for that. I think she ended up with something like $1500 or so for a late model Chrysler minivan. Or maybe $2k. Not 100% sure.

[GTBaker]

When I got mine insured it was higher than my Outback. I question the agent and she said because the car is associated with young drivers the insurance rate is higher. I told her the insurance industry should insure clients not vehicles.

My insurance for my Yaris, scooter and Yamaha R1 is 150 a month. All 3 vehicles full coverage.

[Absolutely Red 12]

I hold the pink slip on our 2012, and so don't need to carry full coverage for a car financing company. I pay $288 yearly from Wawanesa. That works out to $24 a month. :smile:

You might ask your agent why your Yaris is so high. There has to be a reason.

So you just have liability.

Collision is high in Socal, due to the uninjured drivers here.
Also a minor fender bender in LA causes the car to be totaled.

[jayeh]

When I got mine insured it was higher than my Outback. I question the agent and she said because the car is associated with young drivers the insurance rate is higher. I told her the insurance industry should insure clients not vehicles.

My insurance for my Yaris, scooter and Yamaha R1 is 150 a month. All 3 vehicles full coverage.

Have you ever seen another Yaris on the road? :thumbdown: The day I drove mine home from the dealership I was almost hit by two Yarises. Apparently most Yaris owners think the car is so small two can occupy the same space at the same time. Then I realized why I pay so much for insurance.

A Corvette would be cheaper to insure.

[nookandcrannycar]

It does. My sister lived in the UK for 3 or 4 years. Coming back and trying to even get car insurance was almost impossible. Only 1 company would cover her at all, and she paid through the nose for that. I think she ended up with something like $1500 or so for a late model Chrysler minivan. Or maybe $2k. Not 100% sure.

That makes sense. Years ago a friend and I spent about 5 months in Europe and Africa. When we got back he decided to finish his EMT certification and then cram as many EMT shifts in as he could work that in with his other job, as a seasonal California state employee (an ocean lifeguard) over each summer for 3 years and travel the other 9 months of the year. Another friend of his had parents who owned a few houses as investments. The lease on one of them ended, and the parents let their son, my friend, and two other friends (4 guys total) move into the house and they charged them less than the previous tenants because the parents knew all of them and knew they'd take good care of the house (the parents owned the house outright). My friend had 2 'at home' bills while he was traveling each year: Bill #1. Rent - it was an incredible deal and he wanted to save that space so that each Summer would = no drama. He paid a bit less rent when gone vs when he was there because the parents would lower the rent (again) a bit when he was gone re less wear and tear, Bill #2. CAR INSURANCE (bare bones liability on a 7 year old Civic) -- he probably looked at all angles of that situation and wanted to avoid a situation like your sister encountered (he's one of the few people I've ever known who is more frugal than I am :biggrin:)

[tooter]

So you just have liability.

Public liability and property damage... just the bare minimum required to legally register the car.

Collision is high in Socal, due to the uninjured drivers here.
Also a minor fender bender in LA causes the car to be totaled.

I know. :smile:

Driving with minimal coverage for decades has made me a better driver by learning to be aware of the free choice to assume the personal responsibility for the consequences of my own actions.

[nookandcrannycar]

So you just have liability.

Collision is high in Socal, due to the uninjured drivers here.
Also a minor fender bender in LA causes the car to be totaled.

I don't have liability either. I look at (given my confidence in my driving ability and (except for 1 overall winter) living through the mild winters of coastal areas of California or SE Texas) what is the likelihood of my getting in an accident that is my fault and having to write a check for a new car (I almost always pick inexpensive new cars). I don't think the likelihood is very high (and I can afford it). Significant number of uninsured drivers in your area, and another post indicates the same is true in Florida. I'd love to know what the uninsured motorist statistics are for my area and if it dials down to just zip code or if which county also makes a difference. A couple of years ago I got into a conversation with a bank teller at a branch of my bank in Yarflana's neck of the woods. She told me 'we (she and her husband) can't wait until we move to Montgomery County (my county) so (among other savings) we can pay less for our insurance package (homeowner's and cars)'.

[nookandcrannycar]

Public liability and property damage... just the bare minimum required to legally register the car.

:eek:



I know. :smile:

Driving with minimal coverage for decades has made me a better driver by learning to be aware of the free choice to assume the personal responsibility for the consequences of my own actions.

This is probably the truest statement anyone has ever typed on Yarisworld because one mistake could cost you your house and other assets (and true because you are who you are :smile:).

[edmscan]

Driving with minimal coverage for decades has made me a better driver by learning to be aware of the free choice to assume the personal responsibility for the consequences of my own actions.

I thought I was a good driver too .. until I had an accident with my Yaris on Dec 02/2012. I knew in my mind that the accident wasn't my fault .. and thus I waited until the other insurance company assumed liability before getting my car fixed, even though I did have collision coverage on my Yaris.

I just got my car fixed about a week ago ... and really it showed no matter how careful (or how good of a driver you think you are), things happen and it is just very very risky not to have adequate insurance coverage.

[nookandcrannycar]

I thought I was a good driver too .. until I had an accident with my Yaris on Dec 02/2012. I knew in my mind that the accident wasn't my fault .. and thus I waited until the other insurance company assumed liability before getting my car fixed, even though I did have collision coverage on my Yaris.

I just got my car fixed about a week ago ... and really it showed no matter how careful (or how good of a driver you think you are), things happen and it is just very very risky not to have adequate insurance coverage.

I agree, but if you are going to take that chance there is a big difference, IMO, between winter driving in Edmonton and winter driving in Los Angeles. I think if the same driver had equal winter driving skill for both locations, that driver would be less likely to get in an accident during the winter in Los Angeles. I would guess that the winter season would be the most accident heavy time of year in both locations.

[tooter]

:eek:

This is probably the truest statement anyone has ever typed on Yarisworld because one mistake could cost you your house and other assets

Absolutely. :smile:

Which is why it's my own personal responsibility to be fully aware of what I'm doing and to be mindful of the consequences my own actions spin into motion.

Assuming that personal responsibility alters a person's behavior by calling up something from inside of them which has the capacity to meet each new situation properly.

(and true because you are who you are :smile:).

That's right. How each of us freely chooses to live is an expression of who we are. :thumbsup:

[nookandcrannycar]

Absolutely. :smile:

Which is why it's my own personal responsibility to be fully aware of what I'm doing and to be mindful of the consequences my own actions spin into motion.

Assuming that personal responsibility alters a person's behavior by calling up something from inside of them which has the capacity to meet each new situation properly.



That's right. How each of us freely chooses to live is an expression of who we are. :thumbsup:

:thumbsup:

[Absolutely Red 12]

Public liability and property damage... just the bare minimum required to legally register the car.



I know. :smile:

Driving with minimal coverage for decades has made me a better driver by learning to be aware of the free choice to assume the personal responsibility for the consequences of my own actions.


You do know what happens if you're held liable for a collision, and your bare minimum ($5,000) insurance isn't enough to cover the other guys car damage?? Or your ($15,000) injury liability won't cover someones ER bill?
It comes out of your pocket.

I have an extra $1000,000.00 umbrella policy that costs $200 year to cover!!

[Absolutely Red 12]

I agree, but if you are going to take that chance there is a big difference, IMO, between winter driving in Edmonton and winter driving in Los Angeles. I think if the same driver had equal winter driving skill for both locations, that driver would be less likely to get in an accident during the winter in Los Angeles. I would guess that the winter season would be the most accident heavy time of year in both locations.

When it just drizzles in LA, the freeways shut down with major collisions!
No one here knows how to drive in the rain........or on a clear day as a matter of fact.:mad:

[tooter]

You do know what happens if you're held liable for a collision, and your bare minimum ($5,000) insurance isn't enough to cover the other guys car damage?? Or your ($15,000) injury liability won't cover someones ER bill?
It comes out of your pocket.

And it's right that it should. :thumbsup:
I should pay in full for any injury or damage I cause. That's what choosing to assume personal responsibility is all about. And it is awareness of that choice which modifies behavior accordingly.

I have an extra $1000,000.00 umbrella policy that costs $200 year to cover!!

Wow... I didn't know umbrellas were that hazardous. :eek:

[nookandcrannycar]

You do know what happens if you're held liable for a collision, and your bare minimum ($5,000) insurance isn't enough to cover the other guys car damage?? Or your ($15,000) injury liability won't cover someones ER bill?
It comes out of your pocket.

I have an extra $1000,000.00 umbrella policy that costs $200 year to cover!!

But you have to (with every carrier I have ever had) bring the liability limit of the underlying policy up to a certain limit (the lowest I have ever seen is 300k and that was rare) before you can buy an umbrella policy and have it kick in.....so it wouldn't be 200.00 it would be 'his 200.00' (which might end up being a bit more or less than 'your 200.00') plus the cost to bring the limit up from the legal minimum he has now to the 'able to buy an umbrella policy minimum'.

[nookandcrannycar]

When it just drizzles in LA, the freeways shut down with major collisions!
No one here knows how to drive in the rain........or on a clear day as a matter of fact.:mad:

I agree there are lots of lousy drivers in LA and lots of lousy inclement weather drivers in LA, but perhaps tooter rarely drives on the freeway and never does when it is raining.

I guess my point is that tooter is obviously a happy, competent person who is likely already aware of what we are telling him...but knows we (active Yarisworld members) like to put our 2 cents in and only mean well, so he replies in a good natured manner.

I HATE giving money to insurance companies, but I would HATE EVEN MORE giving money to a lawyer who extracted it out of me re an accident...so...like you...I pay for that privilege.

[YarisSedan]

After reading all theses posts now that I paid my car off it looks like its time to drop to liability insurance.

[jayeh]

I agree, but if you are going to take that chance there is a big difference, IMO, between winter driving in Edmonton and winter driving in Los Angeles. I think if the same driver had equal winter driving skill for both locations, that driver would be less likely to get in an accident during the winter in Los Angeles. I would guess that the winter season would be the most accident heavy time of year in both locations.

Here I find weather changes cause accidents. Last spring on the first nice sunny warm day I saw 7 accidents on my way home. Every time we go from a week of one kind of condition to different one it's chaos on the roads.

[nookandcrannycar]

After reading all theses posts now that I paid my car off it looks like its time to drop to liability insurance.

:thumbsup:

[nookandcrannycar]

Here I find weather changes cause accidents. Last spring on the first nice sunny warm day I saw 7 accidents on my way home. Every time we go from a week of one kind of condition to different one it's chaos on the roads.

Same thing here in the Houston area when going from dry to wet. Here it's like Absolutely Red 12 mentions it is in LA (re rain after dry) but it makes much less sense here....It rains more here than it does in LA, so you'd think people would be more adept at driving in it...fat chance.

[Absolutely Red 12]

But you have to (with every carrier I have ever had) bring the liability limit of the underlying policy up to a certain limit (the lowest I have ever seen is 300k and that was rare) before you can buy an umbrella policy and have it kick in.....so it wouldn't be 200.00 it would be 'his 200.00' (which might end up being a bit more or less than 'your 200.00') plus the cost to bring the limit up from the legal minimum he has now to the 'able to buy an umbrella policy minimum'.

Correct, I have $500,000, I don't want to sell any of my houses for someone's bullshit whiplash claim.

More lawyers than accidents in LA!!

[tooter]

I thought I was a good driver too

...and life teaches us the difference between thinking and being.

[tooter]

After reading all theses posts now that I paid my car off it looks like its time to drop to liability insurance.

That's one reason I always buy new vehicles for cash. All the money I save on financing costs and insurance over the life of one vehicle pays for the next new one. :thumbsup:

[nookandcrannycar]

That's one reason I always buy new vehicles for cash. All the money I save on financing costs and insurance over the life of one vehicle pays for the next new one. :thumbsup:

:thumbsup: Me too re buying new vehicles and paying cash to have zero finance charge and to avoid the comp and collision requirement that having a car note requires. I also buy relatively inexpensive cars (so I won't moan and groan as much if I have to write a check for a new car re getting in an accident that is my fault.....and I haven't had to since adopting this policy for myself long ago). I know this saves me quite a bit. That would be great if it saved enough to pay for the next car. I've never stopped to calculate how much it is saving me long term.

[MyWhiteYaris]

I live in MN, have clean driving record and I pay 164.00 a month for full coverage on my 2011 Yaris. it sucks.

[why?]

:thumbsup: Me too re buying new vehicles and paying cash to have zero finance charge and to avoid the comp and collision requirement that having a car note requires. I also buy relatively inexpensive cars (so I won't moan and groan as much if I have to write a check for a new car re getting in an accident that is my fault.....and I haven't had to since adopting this policy for myself long ago). I know this saves me quite a bit. That would be great if it saved enough to pay for the next car. I've never stopped to calculate how much it is saving me long term.

It would depend on how big the loan you compare it to. Several on yw have 5 year loans with significant interest. But even with that, it is mathematically not possible to save enough for another car.Even at 10% (http://www.bankrate.com/calculators/auto/auto-loan-calculator.aspx) over 4 years, it adds $3000. Even at 10% over 5 years, the total paid would be a little over $19 grand. Now if you look at what some dumb people do, and get upside down on loans and trade 2 year old cars with 5 year loans on them, then you can truly get screwed.

[nookandcrannycar]

Now if you look at what some dumb people do, and get upside down on loans and trade 2 year old cars with 5 year loans on them, then you can truly get screwed.

Yeah, uninformed (:biggrin:) people fall into the distraction of being 'sold the payment' and don't look at the total cost. Kind of like tactics that politicians often use.

[edmscan]

I once walked out of a car dealership cause they wanted to charge me like 9% interest annually over a 8 year period. Doing the math in my head .. I said to myself "this is nuts" and I walked out. I can still see the look of shock on the ladies face.

I am happy that I paid cash for my Yaris.