Did I make a mistake? No way I'm paying $600 for insurance

TrialKingTrialKing
in General

So I recently got in a minor car accident back in June neither cars damage both of us could drive car just fine. Can backed into me at a red light. Despite extremely light cosmetic damage insurance raises my bill from 240 to 480 a month!! and my policy ends November the renewal would go to 590 for the next 6mths due to the accident risk.

. I called 7 other places would have been 700 too 900 a mth even mom and pop places.

no freaking way I'm paying 600 a mth for insurance.

So here is what I did

I raised my deductible to 2500,
I lowered my coverages to 10k 25k
Got the easy drive device
Took off roadside assistance
Took off car rental
Took off uninsured motorist.

And after allllllllll these changes with the increase of the new policy I got bill to 270 instead of 600. 270 still 30 higher than my original policy with losing all those benefits and coverages to protect mem This is insane but I had to do what I had to do

Did I make a mistake should I have kept s policy to protect me more of a future accidents and scenarios and pay $600?

What would y'all have done??! seriously

These companies are running the dang mafia you either pay it or shut up

  1. Would you have paid $600 for insurance but safer coverage?25 votes
    1. Yes absolutely because at the end of the day another accident happens I'll be covered
      28.00%
    2. No I would not pay 600 under but wouldn't have removed all the coverages as I did and kept some
      40.00%
    3. Drive without insurance altogether temporarily until I get on my feet financially
        4.00%
    4. Start my own insurance company and insure myself
      28.00%
«1

Comments

  • epicfeoepicfeo

    For purely cosmetic damage I would have eaten the cost of fixing it myself rather than go through insurance., especially with no injuries involved

  • DarlingNikkiiDarlingNikkii

    Why is this being posted here? What is the relevance?

  • TxTomTxTom

    Remember, you're paying high rates in order to cover the costs of all the reckless people who aren't paying for insurance, and who shouldn't be driving at all.

    And there are more and more of them with each passing day.

  • BearBear

    Do you have a spare 2500 in case you get into an accident. I remember I had my deductible at 1000. Somebody hit me and originally the damage was like $978. So I had to cover myself plus since my insurance Wasn't necessary. I couldn't use them to get my money back. I had to cover it to get it fixed right away that is. Otherwise, I would be driving around with a severely damaged back bumper. Half of it that came loose and flopped in the wind.
    Luckily, after the body shop took the rear bumper apart, they found more damage. I still had to pay 1000 upfront. But then the insurance company went after the guy I didn't have to pay anything for that service to the guy and get a lawyer and all that. I got reimbursed as well from the other person's insurance company.

    Before I even read this, I heard the Geico commercial head.

    I know you said you looked into insurance companies, but how about all the ones that have commercials about cheaper insurance that are on TV as well as TikTok Or even looking into a insurance broker that deals with namebrand insurance companies.

  • Mr_Cuddle_BearMr_Cuddle_Bear

    Your mistake was reporting the accident

  • Katelyn_BKatelyn_B
    edited October 2024

    @epicfeo: I would have done the same thing under those circumstances.

    Edit: Saw the other driver called the police after I replied. Guess that forces your hand insurance-wise.

    @FutureHeart2023: A car backed into you at a red light and your insurance rates went up? When I have had things like that happen to me in the past and the other driver was determined to be at fault, my insurance rates didn't go up.

    Were you somehow at fault in the accident or am I missing something? 😕

  • TrialKingTrialKing

    I don't mind paying for insurance to cover everything but how high is enough what if insurance charges everyone 1000 a mth that's close town rent payment.

    I mean we have to weigh the cost of paying for hypothetical scenarios

    @epicfeo
    Unfortunately the person that backed into me called sthe cops so we had to go through the entire process calling insurance and reporting the dates I actually never paid the deductible to cover the damage I just made s report of the accident by law

  • Mike403Mike403

    How many accidents did you have? They shouldn't triple your rates due to one accident(unless alcohol or drugs were involved)

  • ShaneSchruteShaneSchrute

    It’s too much.
    I used to work for an insurance company.
    A salesperson there once told me if you bought every possible insurance option you wouldn’t be able to eat. There’s a happy medium to find. Also, shop around for the best rates.

    Good luck and hope you stay safe!

  • TrialKingTrialKing

    @HarleyGirlKate yes unfortunately geico agent told me even if not at fault, because of the accident being fresh I was considered a risk. But that it could go down the following policy after the new one with in a year

  • TrialKingTrialKing

    @Mike403 unfortunately it's Florida in general insurance has gone up across the board it's wild

  • Katelyn_BKatelyn_B

    Huh, wow, that is too bad. I didn't know that was a thing, so I poked around and read that different states have different rules about that. I am sorry that happened to you, but it seems like in the circumstances you made a rational decision.

  • [Deleted User]WriterGF (deleted user)

    My car got wrecked in 2022, but the other driver took responsibility so my insurance company didn't get involved at all and my rate didn't go up.

  • starrynitecudsstarrynitecuds

    That just sucks. I heard Florida is brutal because of all the accidents and uninsured drivers there. You're paying for that.
    And because it was a reported accident, your carfax will show it and now be worth less.
    Every state is different with insurance laws. I've never had even close to that gouging in Michigan, even with 2 totaled new vehicles in 2 years.

  • TrialKingTrialKing

    Geico has accident forgiveness for 1 accident a year but didn't tell me I needed to see that I thought it was automatic as advertised but yea like everyone is saying it ik not at fault what am I even paying extra in first place I had pics for proof

  • pmvinespmvines

    I'm gonna go on a car insurance site to ask advice about cuddling and see how far that gets me

  • TrialKingTrialKing

    @starrynitecuds oh crap Carfax didn't even think of that part for the future. Well I plan to get a new car December anyway Chevy Trax 😉 I check the VIN with insurance I would save another $50 for a new car

  • SeekerInVASeekerInVA

    What does this have to do with cuddling?

  • Mike403Mike403

    @SeekerInVA - There are several music/movie threads, threads about video games, etc.... Not every thread is about cuddling.

  • Midnight01Midnight01

    BC we are being flooded with people who don’t have insurance, and our premiums are now going up. There are other factors, but this is the main one.

  • TrialKingTrialKing

    @NikkiFM
    @SeekerInVA

    Check the general forum and you will see all types of various topics about movies, pets,health facts, funny memes, relationships, family and friend stories

    Hence purpose of general tab

  • pmvinespmvines
    edited October 2024

    I mean you can ask whatever you want, just not sure if id necessarily trust the quality of advice but you do you. Google is also your friend, and might be able to point you in a better direction is all.

  • JubalJubal

    The only reason that I have auto insurance (other than a stupid law) is to have uninsured/underinsured motorist coverage. I'm really not worried about the chances that I might hit someone, but am very concerned that I'll get hit by a driver who has no insurance, or worse yet, has a "Fred Loya" type policy (meaning a policy that meets the legal requirements, but good luck getting them to pay out a claim).

    You really might want to rethink whether or not to keep uninsured motorist coverage

  • warm_embracewarm_embrace

    https://www.bogleheads.org/forum/viewtopic.php?t=395791

    @FutureHeart2023 you might get better advice on the forum above…

    Good luck!

  • TedEBearCuddlerTedEBearCuddler
    edited October 2024

    Here is what I don't get -- and what drives me absolutely crazy about these kinds of situations with insurance:

    I have been a faithful customer of "X" Insurance -- for 5 years. I have paid my $300 premium on time, every month -- for 5 years. So, I am purchasing their product to insure 3 cars and paying every month -- for 5 years. So, after all these years, I have paid in - what?- $18,000 for me to have a piece of paper in each car saying that I am insured.

    So, I have a little accident at night and back into a vehicle that is illegally parked in a red zone and does not have its flashers on. My vehicle is fine. But his has some bumper damage.

    Shouldn't that $18,000 that I have already paid them cover this accident? Why not? That's like saying.. oh you can pay $30,000 to buy a car, but if you want the key to work to actually run the car you have to pay more! .. What gives? Am I the only one that thinks this way and wonders... what in the world am I paying for, if after an accident, my insurance rate goes up???

  • [Deleted User]WriterGF (deleted user)

    Insurance is happy to take your check. Doesn't mean they want to pay out for anything.

  • Mike403Mike403

    My car insurance is $120 per month for a business use policy(I do Grubhub on the weekends). I have full coverage with a $500 deductible.

  • JohnR1972JohnR1972

    My insurance went up after my daughter (who lives with me and is on my policy) had her car hit while legally parked on the street in front of my house. The accident was 100% the fault of the driver who hit a legally parked car and his insurance paid for the repairs to her car but my insurance still went up as a result of the car being hit.

    Regarding your insurance changes, I would agree with raising your deductible but I would not have lowered your coverage so much. If you are responsible for a future accident (it only takes a second of distraction at the wrong time) and you cause and accident that results in more damage than your coverage, you will be personally sued for the balance plus legal fees. $600 a month is not cheap but losing a $100,000 civil suit is more expensive.

  • Mike403Mike403

    @JohnR1972 - I had my insurance pay out due to a catalytic converter theft twice and it never went up. I guess they treat accidents differently thinking you're a bad driver even if it wasn't your fault.

  • TheFunCartelTheFunCartel

    If you own a home or any type of property and insure it with a company you should insure your auto with them as well because then you are eligible for umbrella coverage. This is important and I have a friend that would testify to this.

    His son was in a two lane turning lane and was side swiped by a car that forgot it was a two lane turn. They called the police, the police said to exchange information and file an accident report on line. His son asked the guy if he was alright and vice versa, his son took pics of the cars and the scene, and they exchanged insurance information.

    Long story short—my friend’s insurance company notified him that the umbrella insurance kicked in. Umbrella insurance will cover liability that exceeds the usual $100,000 to $500,000 depending on how much coverage you have. In this case the guy told his insurance company that his medical bills, time lost with work and future treatments would run close to $800,000. Yes he said he was ok at the accident but “pain” manifested later. My friend’s cocerage went to $250,000. If he did not have umbrella coverage he would potentially be on the hook for the $550,000 difference. The case was settled between the two insurance companies for like $100,000 but if it were a more legitimate claim this could have been catastrophic for my friend without umbrella coverage.

    In addition, you have to purchase the umbrella coverage which is fairly inexpensive but you can only get it if you are insuring both home and auto with an insurance company.

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