Raptor Auto Insurance

[Icecobra]

I am 36, clean record and $698 a year. full coverage and highest coverage

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you dont have the highest coverage because there is no such thing... My coverage is 2,000,000.00 plus up to 5,000,000.00 in anyone event... No one person can get more than 2,000,000.00 but an event with multiple people could result in up to 5,000,000.00 in protection on one event..

---------- Post added at 07:02 PM ---------- Previous post was at 06:59 PM ----------

I asked my insurance guy if I would be covered specifically for off roading on the South Dakota buffalo run. The answer was yes.

Agents tell you anything, they are not underwriters or adjusters. Your policy probably includes verbage that says something to the effect: If an incident occurs and is involved or involving a race or a race like event the coverage is void. Just guessing... but its typical... I f he says your coverd ask for it in writing..

 

[Madcowranch]

you dont have the highest coverage because there is no such thing... My coverage is 2,000,000.00 plus up to 5,000,000.00 in anyone event... No one person can get more than 2,000,000.00 but an event with multiple people could result in up to 5,000,000.00 in protection on one event..

Not that I'm questioning your judgement, but why do you need $5 million liability coverage? Just seems excessive to me.

 

[raptor2012]

actually I have 100000/300000 coverage which is highest on my choices. im sure you can get higher. my sister is my agent

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[Icecobra]

You have more coverage when you have more to protect... If you have an accident, and lets say the PD says its your fault.. You killed a brain surgeon that was 40 years old.. They determine his lifes earnings would be 2oo million and you just cost the family his earnings.. Your insurance writes them a check for 300,000.00 and tells you good luck paying the rest your on your own.. Thats why there are policy limits.. I dont want to loose my home and toys and my income for the next 20 years paying this guys family.. The cost difference for me is really just a hundred or so dollars a year for the extra coverage... I know it is really unlikely to have an event that wipes out your 300k policy but with more and more cars costing more than 100k just replacing a car could eat up your coverage and then your left holding the bag for the rest...

 

[Madcowranch]

You have more coverage when you have more to protect... If you have an accident, and lets say the PD says its your fault.. You killed a brain surgeon that was 40 years old.. They determine his lifes earnings would be 2oo million and you just cost the family his earnings.. Your insurance writes them a check for 300,000.00 and tells you good luck paying the rest your on your own.. Thats why there are policy limits.. I dont want to loose my home and toys and my income for the next 20 years paying this guys family.. The cost difference for me is really just a hundred or so dollars a year for the extra coverage... I know it is really unlikely to have an event that wipes out your 300k policy but with more and more cars costing more than 100k just replacing a car could eat up your coverage and then your left holding the bag for the rest...

You're probably right Ice. Although I would think your example would require a high degree of negligence on your part for a jury to decide that. But you can never be too careful since our society is so sue-happy.

 

[Stang]

Umbrella policies are really cheap compared to what you get. You can typically get a $1M rider for less than $150 per year. Covers your home and cars.

 

[Rookie]

Ya there are too many variables but to simply answer your question, those two trucks specifically should not be much different in premium. The only variable that I could see effecting the price is the retail prices of the vehicles. It's not like you're comparing a sports car to a truck.

 

[The Car Stereo Company]

my vehicle policy went up $8 a month from a crappy minivan to the raptor. 500,000/1,000,000 coverage. it depends on driver/record/location. I don't think the umbrella changed at all either.

And madcow, look at it this way, if you get into an accident, and you injure/kill someone. You are responsible for all the medical treatment. Which gets very high, very quickly. I have had 2 surgeries resulting form my last accident well over $120k. Also being a business owner you need to have higher policy limits because what other insurance companies (lawyers) do is what's called an assets check. If your assets are worth more than your policy, then they will try to go after that instead. if you have 5mil in assets but only 500,000 in coverage then they will deny the insurance company and tell them no thanks, and will take your personal belongings. That's why it's always good to have a policy higher than your worth. That way they can not go after your assets.

 

[Madcowranch]

my vehicle policy went up $8 a month from a crappy minivan to the raptor. 500,000/1,000,000 coverage. it depends on driver/record/location. I don't think the umbrella changed at all either.

And madcow, look at it this way, if you get into an accident, and you injure/kill someone. You are responsible for all the medical treatment. Which gets very high, very quickly. I have had 2 surgeries resulting form my last accident well over $120k. Also being a business owner you need to have higher policy limits because what other insurance companies (lawyers) do is what's called an assets check. If your assets are worth more than your policy, then they will try to go after that instead. if you have 5mil in assets but only 500,000 in coverage then they will deny the insurance company and tell them no thanks, and will take your personal belongings. That's why it's always good to have a policy higher than your worth. That way they can not go after your assets.

Yep, I do have separate umbrella policies on the 8 LLC's that make up my business, but I thought we were talking auto insurance here.

 

[The Car Stereo Company]

Yep, I do have separate umbrella policies on the 8 LLC's that make up business, but I thought we were talking auto insurance here.

we are, i just didnt know about your high coverage comment. so i figured i would explain it as i know it for anyone else who wasnt sure. sorry if i misunderstood you