Insurance coverage - fill or liability ?
- Thread starter Lseme
- Start date
Depends on how much, if any, you want from the ins. company should anything happen.
roncoinc
Well-Known LVC Member
Check with Hagerty insurance,,,..
https://www.hagerty.com/Insurance/c...&pmt=b&pdv=c&gclid=CPqDtYmxp8gCFdYXHwod7HEPEQ
see if your car qualifies ..
You should be able to put the storage insurance on the vehicle when off the road. I do it all the time. Since there is less liability the cost of coverage is lower and I also get to keep a multiple vehicle discount. The vehicle in storage is covered for fire, theft, vandalism, etc.
See what you would get from the insurance company if your vehicle got totalled and see how much you have to pay for full coverage. Then make a decision.
Good luck.
See what you would get from the insurance company if your vehicle got totalled and see how much you have to pay for full coverage. Then make a decision.
Good luck.
1LoudLS
Dedicated LVC Member
since I don't want to get $0 if some ass hat runs a red light and destroys my car (again), I have full coverage on it during the driving season. Then usually during the snowing months, I take the insurance off and it gets locked up in the garage where it is fully covered by my home owners insurance.
polices will vary from state to state and company to company
polices will vary from state to state and company to company
orgulloso4202
LVC Member
I would doble. Check with your insurance. If I'm correct, most homeowner Insurance exclude cars at least in California.
Bullschmidt
LVC Photographer
I recently changed mine from full comprehensive to just liability. Being that my LS isn't worth much at all, and I barely drive it, I'm willing to take the gamble.
Jack Flash
Active LVC Member
I guess one of the questions that needs to be asked is what's the difference in cost from one to the other, and then make a decision on that. If it only cost a few hundred dollars a year like myself to get full, and you're comfortable with that, why throw caution to the wind ?
Mine doesn't. In fact, I've been told that if the house catches fire leave the cars in the garage as my homeowners policy will cover the loss.
Telco
Dedicated LVC Member
I carry full coverage on everything. That way if some jackwad runs into my rig my insurance company fixes the car immediately then they get their money back from the fool's insurance company. If you have liability and someone hits you, you have to wait on their insurance company to go through their denial to repair attempts, low buck total offers, and whatnot before getting your ride fixed. It's really not that much more to carry full vs liability especially considering the peace of mind you get.
To add to all that, with the full coverage you also have all the medpay options. I've got enough coverage on my car to cover organ replacements if necessary and in Oklahoma coverage is additive. If you have 100K coverage per car and you have 10 cars, you actually have 1MM coverage for any accident you're in according to my lawyer who has represented us in a couple of accidents.
On storage insurance, done that before too. Can't drive it, but if the house falls on it or if it's stolen you're covered.
To add to all that, with the full coverage you also have all the medpay options. I've got enough coverage on my car to cover organ replacements if necessary and in Oklahoma coverage is additive. If you have 100K coverage per car and you have 10 cars, you actually have 1MM coverage for any accident you're in according to my lawyer who has represented us in a couple of accidents.
On storage insurance, done that before too. Can't drive it, but if the house falls on it or if it's stolen you're covered.
roncoinc
Well-Known LVC Member
Say the extra coverage is only $500 a year.
three years from now thats $1500.
then you get wrecked and the other ins co gives you $1500.
now your at zero $$ and out a car..
tho you do have the $1500 from their ins,,if you saved the $1500 you would have $3K to replace the car.
three years from now thats $1500.
then you get wrecked and the other ins co gives you $1500.
now your at zero $$ and out a car..
tho you do have the $1500 from their ins,,if you saved the $1500 you would have $3K to replace the car.
1LoudLS
Dedicated LVC Member
no need to double check... I was very specific with my agent before choosing which company we went with on what was and what was not covered.
with my policy, if its on my property, it is covered. even if it doesn't belong to me (which was important because with my large barn, I store a couple things for my family).
also deductible on just about everything is $500, so it would still be a better deal and just paying it out of pocket for most things that could go wrong. however if something was to happen and it cost less than or close to $500 then I would just pay it out of pocket.
Jack Flash
Active LVC Member
It costs me less than that for full coverage. IIRC, it was 140-150$ for liability only....maybe less.
I have full coverage. $500/$50 deductible. Someone hits it. They are paying to restore it to condition before the accident. I have extra stereo coverage too. I have everything documented with my insurance company. I have uninsured motorist coverage too. My LS is covered.
Telco
Dedicated LVC Member
Comprehensive only for the car for me is about 122 bucks a year. I don't carry full coverage on the car to cover the car, I carry it to cover me. Something to consider: lawyers are expensive. If you're covered for the minimum, that's the extent of the insurance company's liability. They'll have Lionel Hutz give you a 5 minute call with suggestions because it's cheaper to cut a 25 grand ticket to the person you hit than to spend 500 bucks an hour plus expenses for a lawyer to defend you. That's only 50 hours of coverage and they might still wind up forking over the 25 grand. Anything over the insurance company's liability comes out of your pocket. If you're covered for the maximum, they'll airdrop Perry Mason and Ben Matlock into the courtroom to fight on your behalf because they're not going to pay out a million bucks without a fight. Not to mention, if it's the other guy's fault I don't want to be at the mercy of the other guy's insurance company who doesn't want to pay me and doesn't have to worry about me being happy as I'm not their customer anyway. Sure, it's a lot of money to pay but you'll be amazed at how fast you decide that it was cheap at half the price a few minutes after you hear that unexpected crunch.
An example - a couple of years ago I was passing a Wal-Mart truck on the interstate when a piece of its trailer's leaf spring came off. It tore up the passenger front fender, front wheel, bumper cap and HID headlight. Since I had full coverage, the insurance company had my car towed to the repair shop of my choice, provided me with a rental for the duration and three weeks later I was back in the car with mostly all new parts (they couldn't locate everything needed new). Had I had liability, I would probably still be waiting on Wal-Mart to fix the car. You saw what that comedian who was hit by a Wal-Mart truck had to go through and he had money to fight them.