blastit

Not quite sure. Call ICBC dont want to give you a bogus quote. All i know is that if ICBC was to pay out 5M they would most likely need to see you or the other person crushed into pieces. i understand where you are coming from better safe than sorry. I am assuming that you have full replacement cost as well.

micropower99

Yea I also got the replacement cost as well. Thats true though, good point. Man I hate ICBC lol

blastit

yeah they have a lock on the market in BC. Its funny how Alberta insurance is so much cheaper and the driving conditions are far worst.

crazeazn

Please keep in mind, depending on what metro city you are in the rates can fluctuate 2 fold (age, gender, make/model inclusive). Many of you with clean driving records and low rates may not be living in high accident casualty city/county. I pay around $2200 a year for my C55 with a clean driving record. My IS300 was nearly the same price I am 24 years old living in Houston.

Hungy

I am from Vancouver too.
Age - 25
Sex - M
Payment - $4000+ (cuz i was too lazy to do my discount. I cud get 35% off as of last year. So about $2000+ if i do it) haha

narky

Northern California
Male
28 yrs old.
No tickets in the last 3~4 years.

I forgot the exact amount, but around $670/6 months for full coverage. $500 deductible. I forgot the limits, but I think I chose the highest or close to the highest for each category.

and Progressive rocks the house for their service. Super fast response times. Nice guys. My claims adjuster's favorite phrase is, "Well, we work for YOU. So let's make sure you're happy." I've heard that phrase 10+ times in those exact words in the last month or so. I believe the TV ads; they're quite true. And no, I don't work for them.

How do I know this? Some stupid ^%&^$&^%$*^%^%*&$&^$&^ hit my brand-new car. And then began a series of inept repairs by a SH***Y dealer-recommended shop. I'm still in the nightmare. I just wanna wake up...

blastit

you got to be kidding! go get your discount. either your loaded and you just dont care or your retarded. either way go get your discount. if you really dont care about the money give the rest to some kid overseas that has no food to eat.

narky

+1

Those 2 options, exactly. Wanted to say the same thing, but I was going to refrain...

9elf S

No offense, but this is a perfect example of people's tendency to over insure. Insurance companies wouldn't be in business if people didn't over insure; they depend upon it for their profits.

Why would a 21 year old need $5MM of liability coverage, unless the person had $5MM of assets to protect. If you don't have that much in assets, you're over insured. Actually, if you have that much in assets to protect, you should be driving a better car.

no_mulligan

Maybe $5MM is a bit too much BUT if there is negligent death you will be sued for more than a million dollars. Carry $500,000 coverage and get ready for your wages to be garnished. Are you comfortable with that? Ever heard of an umbrella policy? If you want that much coverage, many get an umbrella policy that overlaps cars, boats, and homes all at the same time.

micropower99

Well in fact I do have quite a bit of assests to protect, and I am driving a mercedes, not a toyota.

narky

I agree with the whole umbrella concept. Better safe than sorry. Why not pay a little more for insurance, make the company a little more money, but be COMPLETELY covered for ANYTHING. Life throws a lotta curve *****.

The following is a bit off-topic, but...

Worth $5MM at 21? Are you a trust fund baby or a genius?

and yes, this is a Mercedes, but it doesn't cost too much more than a nicely equipped Toyota or a Honda. So no, driving a C class doesn't prove to anyone that you are fabulously rich. In addition, I know plenty of people who lease cars that they cannot afford to buy for the illusion of wealth. I remember, while in college, a friend's loser boyfriend worked full-time (8 hours a day, 7 days a week) at Mrs. Field's Cookies at minimum wage to be able to (barely) afford a lease on a BMW 3-series. To each his own, I suppose.

micropower99

I don't want to sound like an *** but frankly it's not of your business how much wealth I have and how I got it. Secondly, I'd like to see a Honda Accord or civic even get close to the price that the C class goes for up here. I paid 55K after taxes when a fully loaded VW GTI is 35K and not even 40K for a fully loaded accord. And I do not lease, when leasing "like you said" can be an illusion on your wealth since it's simply a monthly payment that many people can afford.

dalazernet

I have "full" coverage with GEICO and my insurance was $250 cheaper than my Pontiac Grand AM GT Coupe (in red of course) when I picked up my new '06 W203.

My total premium is just over $1100 per 6 months
Granted I could get it down to $1000 roughly, but I'd rather have lower deductables and my lovely rental reimbursement coverage!

I'm 26 yrs old
Living in NJ (insurance costs - Yikes!)


Oh, and last year I got a ticket for not fully stopping at a stop sign (it was a cop trap), and those 2 points made my insurance GO DOWN, and I paid it with my Mercedes-Benz visa card to get "points" from my points.

BajaPanty

Age-36 & 29
Sex-M w/ fiance on policy
Location-Long Island NY
Coverage- full on each w/ umberalla policy for 1 million
Cars-2007 Jeep Wrangler Sahara 4dr $1218.00 a yr
2008 Toyota Camry 4dr $1,120.00 a yr
2008 C300 4matic $ 1,176.00 a yr
Insurance Co.-Gieco

9elf S

I'm not suggesting that one shouldn't carry insurance. What I'm saying is carry the appropriate amount in light of your assets at risk. I have an umbrella policy that matches the assets I am trying to protect.

As for your example, the vast majority (>90%) of personal injury lawsuits settle; this is typical of lawsuits in general. And generally they settle for the policy amount. If you happen to have a judgement against you in excess of your policy, you always have (at least in the US) the ability to file bankruptcy. Although bankruptcy has second order consequences, you can wipe away that liability and won't have your wages garnished for life.

Obviously, you can spend your money how you choose. Some people want to over insure because of the (in my opinion, false) "peace of mind" it gives them. What's ironic is that studies have shown people are generally terrible at estimating risk. Where they believe risk exists, they overestimate, which then distracts them from where the true risk exists.

9elf S

Good for you for having significant assets to protect at such a young age.

Yes, you are driving a Mercedes, but my point was that if you feel you need $5MM of insurance to protect your assets, which to me means you must have a lot of assets, then I can think of a large number of better cars to drive.

micropower99

I could too but I'm simply not the biggest car nut around to have the best. I mean why would I need a 100K sports car if a 50K merc can get me to the same place without the worry of having my car vandalized or stolen. But I get at what your saying. I feel bad for those wealthy Americans that can't even get the 2 mill insurance.

rb23lb

dang, I got you all beat, however I just have the bare minimum coverage for liability but have complete comprehensive coverage if someone were to damage or vandalize or steal or if my car got totaled in a crash.... $1000 deductible though..

26 male
los angeles
clean record
$321 every 6 months
$642 a year

icanectc

Age 29
Geico - $900(clean driving record) 100/300 no ded.
Northern Virginia

encoder

1) An umbrella policy isn't just about protecting current assets, it's about protecting future earnings. A jury doesn't consider your net worth when they assign damages.

2) In the US (for reference) you have to max out your auto (homeowners, etc) coverage before they'll write you an umbrella policy anyhow, so in the end his high liability coverage on his insurance up there may not work out to be any more expensive than the combinations of premiums down here.

3) If you're driving around with state minimum liabilty, you're being foolish.

4) I'm 28 male, unmarried, in Florida, C350, Geico, I pay like $575 every 6 months.

5) Nobody here has mentioned it, which I don't blame them, but your FICO SCORE also is factored (in most cases) into your insurance premiums. Good Credit = Lower Premiums.

xolinlevh

25/male
Been driving since I was 15
3 or 4 speeding tickets, 1 argued away in court, 1 the cop messed up on and it does not show up anymore
St. Paul, MN
Full coverage with a $500 deductible
$464 every 6 months from farmers.

ucfbeta92

31/male, Central Florida. Esurance, ~850/year

NickCats

40 male / married
Suburban Chicago
Clean record
$338 every 6 months
$676 a year
Full coverage 100 /300 & $500 deductible

icanectc

People are foolish for driving around with the min requirements? Thats just a crazy statement - the majority of americans drive with enough coverage and if your car is leased or owned by the bank they REQUIRED liability insurance anyway. MBFinance requires 100/300 EVEN if the state min is 10/30. That is MORE than adequate to cover damages in a accident/lawsuit, plus your many renters policies/ homeowners policies have additional clauses to "umbrella you from medical expenses related to accidents outside of your home. To insure yourself to the max is foolish given that accidents are the exception not the rule. Now if you own your car outright and choose to not carry liability that is also foolish. IMO 100/300 in liability is plenty anything extra is just "foolish" unless you are a millionaire and want to protect your assets. A regular joe need not buy all that "insurance" waste of money - esp for a policy they very well likely will NEVER use.

I have been with state-farm, allstate and now geico. Never once has my credit been hit by an insurance company.