Auto Insurance: What Do You Actually Need?
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- Опубликовано: 5 сен 2024
- Clark goes back to basics on auto insurance. Due to gigantic premium increases, more people are going without or buying minimums, which can be risky. Learn what coverage you’ve GOT to have, and how to make decisions regarding collision, comprehensive, and deductibles. Once you figure out your coverage, you’re ready to shop insurers.
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I’m a retired agent with the professional designations Certified Property Casualty Underwriter and Accredited Advisor in Insurance. This video is the best, and most honest, I’ve seen on the internet.
I have paid enough in car insurance over the last twenty years that would pay for at least two new cars. Again, at least two cars.
That’s why I always bought used and self insured later with emergency fund to back it up.
Same with warranties.
Ridiculous.
@@blackworldtraveler3711how I can do this??
I have had 3 near fatal accidents where the other driver crossed over and I was hit head on; two were medically impaired neither was insured; one was driving with no lights. Uninsured and underinsured coverage is essential.
couple of questions - what is your definition of "really old" vehicle? When looking up value of vehicle, which value do you use PPV or TIV? How do you compute this with multiple cars on a policy? And finally, can you give an example of using this traditional method?
Added up what I have paid over the yrs on all our insurances- over $132k. Claims? Under $3k.
Some states have no fault which is ufair in my opinion.
Yep. I've been paying auto insurance since 1982. I've made one claim for 2K. I don't even want to know what I've paid in.
Medical insurance: 2 same day surgeries, ONLY, no check ups, no meds, at 65 years old. 🤬
Not sure what’s going on with State Farm, but my policy renewal is next month but their application says things are changing no bill due.
The government has really made things more difficult for its citizens, and we can't sit back and bear all the consequences of the bad governance. It's obvious we are headed for hyperinflation,it is always the poor who take the hit.
The current economic crisis in the US is indeed quite severe, which is why I strongly encourage anyone with savings to seek out a reputable financial advisor. Such advisors can guide them in finding better investment opportunities, such as stocks, forex, and other assets, which have the potential to be more profitable, my advisor is Ms Caroline.
Investing has proven to be an incredibly beneficial decision. My cryptocurrency profits continue to play a substantial role in growing my overall wealth, reducing my reliance on my salary.
It's no longer a story that the world is experiencing a global economic downturn, thanks to Ms lenz I'm so happy that I've been receiving $64,000 from my $15,000 investment every 8 days
If I may ask how you can make so much despite the economic downturn because I have been trading for a while but I keep losing.
Crypto investing has brought me great success. Regardless of the economic downturn I can boast about $8,000 every week from my investments.
All thanks to Ms Caroline Lenz.
Credit union is cheaper interest but requires more expensive lower deductibles full coverage. ⚖️
I have my auto with homeowners and not changing due to a new company just dropping you, 18 year old car no collision
I still keep full coverage except rental insurance on a 30year old truck because per KBB and other auto value websites the truck is only worth around $3000 however on the open market like cars and bids and bring a trailer you can't touch my truck for under $10k
I checked and doubling the deductible on collision and comprehensive would lower the premium by 6.5 %. Does not seem worth it.
I found the same thing with my insurance company.
In California the likelihood of getting hit by a illegal alien is triple, it happened to me and he just played like he didn’t speak English to well and said “i just bought this car” it was a older used car, he didn’t have registration in his name or insurance, rainy day an chp didn’t come… good luck to those of us that follow the law
Mexicans aren’t illegal aliens. They were here before you. What a racist comment.
Oh here we go with the illegal alien mumbo jumbo again. There are plenty of citizens drunk and without insurance too so it's curious that you punch down and attack a small minority. It says alot about the way people infuse their thinking with bias.
Have two cars paid for and only carry the minimum liability and under insure motorist don't drive that many miles why cheaper than full coverage. $600 a yr for both vehicles
Years ago when I was "judgement proof" I also carried minimums. If I got sued for any amount and lost it didn't matter because I was renting and was 1099 (self employed) so they couldn't even garnish my wages and my tax returns were under the $89,700 threshold that allows people to file Chapter 7 bankruptcy, which means it's pointless to win a case against me. Fortunately I am now in a very different stage in life and added an additional $1M umbrella policy on top of my maxed out auto insurance for my 3 cars (that are all over 11 years old, and liability only of course)
What is really old mean? 10 yrs old, 12 yrs?
Been with Geico Car Insurance & renters insurance for YEARS. Rates way up. Our deductibles are too LOW.. Don't know how much to increase. We don't want to make a mistake, (too much, too little) ..? Currently renting. Our cars are 2013 VW & 2026 Murano (1 paid off, other almost) Is the way to go is getting a local trustworthy broker? How to find the right one?
2026 Murano?
@@susantokles5042 probably a 2016 xD
traditional car insurance formula when the premium of the colision exceed 10% of tue remaining value of the vehicle then you best of being your own insurance company for your vehicle. Please explain with examples. Didn't understand the message.
He means that you should save up enough money to buy another car with cash if your car gets totaled, rather than paying an insurance company to cover your loss.
@@logicalblueberry what I don't understand is when the premium or the collision exceed 10% of the true remaining value of the vehicle. Please explain what exactly that means. Please give me a real live example
What exactly is 10% of the true remaining value?
@@MegaAlex010101 Depends on the vehicle. To find it you can go to many online sites, like Kelley Blue Book, enter make, year, model, mileage, conditions, etc. and it will tell you what is the current value of the car. What he says is take 10% of that value and if the collision premium exceeds that, skip that coverage on your policy.
How long should I be paying for "Lemon Law" after buying a car?
so much valuable info!
Somebody please explain to me what UN insured motorist is versus UNDER insured. I pay for both but it seems to me that an UNDER insured person is the same as an UN insured motorist is!
If you are hit by an uninsured motorist, your insurance company ends up paying for all costs for th r damage to your car. If you ard hit by a motorist who is under insured, your insurance charges their insurance for the amount that the individual is covered for and pays the remaining costs minus you r deductible. Most insurance companies call this insurance coverage uninsured/under insured coverage. It is a combined coverage that costs more, but with so many having problems with affording insurance, it is well worth the extra cost. Chances are when you are in an accident the other driver will not have insurance or insurance coverage insufficient for the damage they caused. You don't know for sure until you go to your insurance and file a claim against them. Some states cannot determine if you have insurance tha r I do actually valid. You exchange insurance info, a police/sheriff's accident report is written, but it is up to you to file a claim with your insurance and your insurance determines if their insurance actually exists.
Should u not go to jail if u drive with no insurance?🤔
Yes and no! Yes if you are a US citizen or resident. No if you are an ILLEGAL. Lets go Brandon!
@@eochanghi6501This.
My son got slammed by an uninsured motorist. All she had to do was cry & the cop felt sorry for her. Meanwhile my big, burly son with his demolished car got screwed.
Not in todays amerika
California lets you self insure with a 35000 surety bond
Why can’t we all get a bank account, put the payments we make for our insurance into an interest bearing account and just use that if we have an accident? I mean this is getting ridiculous and we have no recourse. It’s the law! It’s robbery! I have insurance for 20 years without one accident and without one ticket
This guy acts like the insurance companies are nice. What a loser
I still keep full coverage except rental insurance on a 30year old truck because per KBB and other auto value websites the truck is only worth around $3000 however on the open market like cars and bids and bring a trailer you can't touch my truck for under $10k