A question
★★★★★
Joined: May 2005
Posts: 10,200
From: Banned Camp (Counselor)
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?
★★★★★
Joined: May 2005
Posts: 10,200
From: Banned Camp (Counselor)
RE: A question
ORIGINAL: redass02gt
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"
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"
insurance companies are rediculious, and if they dont get stopped, theyll just become the next microsoft working as a whole. its already at the point where its illegal to drive without insurance, and insurance companies are seeing that and doing whatever they can to rape you up the *** with charges. i have yet to get in any accident or anything, i have minimal coverage, and i can barely afford my insurance, its so expensive.
Retired MF Moderator
Joined: Aug 2004
Posts: 14,891
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.
EXTREME Moderation
Joined: Apr 2005
Posts: 7,895
From: BLAM-O
RE: A question
ORIGINAL: 94bullit
i think redass is missing the definition of "insurance" think about it long and hard
i think redass is missing the definition of "insurance" think about it long and hard
btw, did you notice you spelled your screen name wrong? yeah... trust me on that. I KNOW how to spell bullitt. [&:]
5th Gear Member
Joined: Jan 2005
Posts: 4,766
From: UT
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.
Thread Starter
The Godfather
Joined: Sep 2005
Posts: 15,480
From: Temple, Texas
RE: A question
Yea, there are a ton of things that could happen, but with me being the way I am, if I had somebody hit my car, or if it were to get into an accident, I probably woundn't want the car anymore. Now granted, having insurence is just that, insurence, but like I said, I don't believe in paying out the *** for something I'll never get back, see's here's my take. Let's say I get a new 06 and I get in an accident 1 month after I get the car, now the car will probably be covered, but then they'll want me to pay even more out the ***, so then I may not be able to afford it, and the odds of getting in an accident twice within a givin time frame of three years, is extremely low. Now I would have my 06 covered, but then I'd be seriously broke as a result. Now let's say I get the 06 and pay 1500 every six months for a decent bit of coverage, and I get a discound in 4 years, but let go till I'm 24. I would of invested 12K worth of insurence, and let's say I never get in an accident, that's 12K that I lost out on. Now, let's say I pay basic insurence and I keep the extra cash, that gives me over 6K in my pocket over time. Now when I hit 24 and get my discount, yes then I'll get some coverage, but until then, screw the insurence companies, because I'm not paing for their president to be able to afford that Lambo he probably drives a little bit easier.