A question
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Joined: Apr 2005
Posts: 7,895
From: BLAM-O
RE: A question
you can have "full coverage" for you car, but there is no limit to how much money you could be forced to pay out if you crash and kill someone. how can you have "full coverage" when your insurance policy explicity states that you have a limit on how much they will pay out? I'm pretty certain that your policy does not say "State Farm will give you inifinity money if you crash and kill someone and they sue you"
Retired MF Moderator
Joined: Aug 2004
Posts: 14,891
RE: A question
ORIGINAL: redass02gt
well, within the insurance industry, they don't use the term "full coverage" for anything because it doesn't really make any sense. you can be covered for hitting someone, but how much you are covered for is variable and can be anything. just thought I'd let you guys know, I once told someone in insurance that I had full coverage and got the same explanation, and then I thought about it and it made lots of sense.
well, within the insurance industry, they don't use the term "full coverage" for anything because it doesn't really make any sense. you can be covered for hitting someone, but how much you are covered for is variable and can be anything. just thought I'd let you guys know, I once told someone in insurance that I had full coverage and got the same explanation, and then I thought about it and it made lots of sense.
Pro. B.S. caller outer
Joined: May 2004
Posts: 9,644
From: IL
RE: A question
You guys are just arguing semantics here. The point is that you cannot finance a car with out having comprehensive/fire/theft/liability/collision on the car. That is what is meant by "full coverage" it is simply all the different types of insurance. The lender has to make sure thier investment is covered. My point was that even if you buy the car out right and have the title in hand your a moron to not cover your *** with insurance, if it gets wrecked or stolen you are screwed.
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Joined: Apr 2005
Posts: 7,895
From: BLAM-O
RE: A question
ORIGINAL: nanaki
that's odd. it even says full coverage on my policy. my statements say it. the agents say it. at all the places i shopped around. maybe every insurance company i contacted is wrong and you're the one who's right.
ORIGINAL: redass02gt
well, within the insurance industry, they don't use the term "full coverage" for anything because it doesn't really make any sense. you can be covered for hitting someone, but how much you are covered for is variable and can be anything. just thought I'd let you guys know, I once told someone in insurance that I had full coverage and got the same explanation, and then I thought about it and it made lots of sense.
well, within the insurance industry, they don't use the term "full coverage" for anything because it doesn't really make any sense. you can be covered for hitting someone, but how much you are covered for is variable and can be anything. just thought I'd let you guys know, I once told someone in insurance that I had full coverage and got the same explanation, and then I thought about it and it made lots of sense.
EXTREME Moderation
Joined: Apr 2005
Posts: 7,895
From: BLAM-O
RE: A question
ORIGINAL: JD1969
You guys are just arguing semantics here. The point is that you cannot finance a car with out having comprehensive/fire/theft/liability/collision on the car. That is what is meant by "full coverage" it is simply all the different types of insurance. The lender has to make sure thier investment is covered. My point was that even if you buy the car out right and have the title in hand your a moron to not cover your *** with insurance, if it gets wrecked or stolen you are screwed.
You guys are just arguing semantics here. The point is that you cannot finance a car with out having comprehensive/fire/theft/liability/collision on the car. That is what is meant by "full coverage" it is simply all the different types of insurance. The lender has to make sure thier investment is covered. My point was that even if you buy the car out right and have the title in hand your a moron to not cover your *** with insurance, if it gets wrecked or stolen you are screwed.
but I wanna ask this question: how can an insurance company say somebody has "full coverage" if they cannot put a dollar value on it?
6th Gear Member
Joined: May 2005
Posts: 7,445
From:
RE: A question
ORIGINAL: redass02gt
The original point I was trying to make was that people are WAY overinsured if they are paying for $140,000 worth of coverage if they hit someone and hurt them and they only have $14,000 worth of assets. cover the car, yourself and whatever legal liability you need.
but I wanna ask this question: how can an insurance company say somebody has "full coverage" if they cannot put a dollar value on it?
ORIGINAL: JD1969
You guys are just arguing semantics here. The point is that you cannot finance a car with out having comprehensive/fire/theft/liability/collision on the car. That is what is meant by "full coverage" it is simply all the different types of insurance. The lender has to make sure thier investment is covered. My point was that even if you buy the car out right and have the title in hand your a moron to not cover your *** with insurance, if it gets wrecked or stolen you are screwed.
You guys are just arguing semantics here. The point is that you cannot finance a car with out having comprehensive/fire/theft/liability/collision on the car. That is what is meant by "full coverage" it is simply all the different types of insurance. The lender has to make sure thier investment is covered. My point was that even if you buy the car out right and have the title in hand your a moron to not cover your *** with insurance, if it gets wrecked or stolen you are screwed.
but I wanna ask this question: how can an insurance company say somebody has "full coverage" if they cannot put a dollar value on it?
5th Gear Member
Joined: Sep 2004
Posts: 3,411
From: Woodbridge, VA
RE: A question
i agree man, theres no way you could pay for full coverage insurance AND make payments on a brand new GT..unless ur g-ma is loaded. you might as well mod ur sixer out as much as u can. even if it shortens the life of then engine, if you sold it, you wouldnt get anything for it anyway..maybe a grand or two. so many miles on a v6 mustang..yet alone an 8 year old one, aint really gonna get u nothing. i also agree wit someone else, try to get a 99 or 00 GT for about 8 grand and just mod that.
Thread Starter
The Godfather
Joined: Sep 2005
Posts: 15,480
From: Temple, Texas
RE: A question
Well I'm also thinking about that, now my beef with the insurence company is, that even if you have a good plan, trying to get them to pay for your damages is rediculous, because they never hesitate to take that check, but they are extremely hard trying to get one out of. And another thing, why in the hell am I going to pay a butt load of cash for somthing that I may never use, if I sell that car, do I get the money I invested in insurence back, hell no, that's why I beleive in sole responsibilty, if you are in an accident then you should cover your own ***, because think of all the money you would have saved up if you just made your own "INSURENCE" account, if you got in a wreck, you'd say screw that car, I have enough saved up to get a new one. Point is, you pay for something that you never, ever, ever, will ever, get back.
6th Gear Member
Joined: May 2005
Posts: 7,445
From:
RE: A question
ORIGINAL: jthorn9
Well I'm also thinking about that, now my beef with the insurence company is, that even if you have a good plan, trying to get them to pay for your damages is rediculous, because they never hesitate to take that check, but they are extremely hard trying to get one out of. And another thing, why in the hell am I going to pay a butt load of cash for somthing that I may never use, if I sell that car, do I get the money I invested in insurence back, hell no, that's why I beleive in sole responsibilty, if you are in an accident then you should cover your own ***, because think of all the money you would have saved up if you just made your own "INSURENCE" account, if you got in a wreck, you'd say screw that car, I have enough saved up to get a new one. Point is, you pay for something that you never, ever, ever, will ever, get back.
Well I'm also thinking about that, now my beef with the insurence company is, that even if you have a good plan, trying to get them to pay for your damages is rediculous, because they never hesitate to take that check, but they are extremely hard trying to get one out of. And another thing, why in the hell am I going to pay a butt load of cash for somthing that I may never use, if I sell that car, do I get the money I invested in insurence back, hell no, that's why I beleive in sole responsibilty, if you are in an accident then you should cover your own ***, because think of all the money you would have saved up if you just made your own "INSURENCE" account, if you got in a wreck, you'd say screw that car, I have enough saved up to get a new one. Point is, you pay for something that you never, ever, ever, will ever, get back.