way off topic...Saving money on auto insurance... want to ?

[joepistol]

I'm posting this in the event that someone here is paying for PIP coverage on their auto coverage and they may not need to pay this.
Maybe better stated, they can drop PIP ( personal injury protection ? ) if they are on Medicare, and have Part A and Part B coverage.
finally, a benefit for being old(er)
As with all things, there are + and - aspects to doing this, your insurance agent can better explain this.
I can say, I discovered that dropping PIP saves about 30% of the insurance cost on my cars & truck.. not a small amount.
I spoken with several friends that have done this,and it seems like a worthwhile change, for ME anyway.
as always, YMMV

As I (we) have been shopping for a new car for my wife ( which I'll drive @ times as well) I learned before buying a particular vehicle,
TALK TO YOUR INSURANCE AGENT FIRST !.. to see what insurance is going to cost.
Back in '85, I bought a new Jeep ( CJ- 7 ) while living in So.Calif., before talking to my insurance agent. After buying it, discovered that most insurance companies wouldn't insure it ! I was stuck with 1 company that was willing to sell me a policy. This was back when the Suzuki Samuari was introduced & they were having a bunch of roll-over accidents.

Yesterday I visited a State Farm agent , comparing insurance prices for the new cars we've been considering, as well as comparing their rates to USAA quotes.
I asked about lowering cost by dropping PIP coverage ( we qualify to do this) as a friend told me about dropping it.
The Agents quoted prices for new car models with & w/o PIP coverage..the difference was about 30%. .I hadn't realized the difference was that much,
so I called USAA ( my current carrier) send the paperwork to drop PIP & it was sent out today.
In addition, USAA told me I can drop 'work loss coverage" from my coverage as well, this makes sense, if you are retired.
Trying to collect $ for " work loss" would be futile if you're not employed.

Being in Mich., I will have to re-submit paperwork every 6 months ( basically resend a copy of my medicare card every 6 months)
Another thing Mich. does that makes NO sense.. probably "suggested " by the insurance industry to make it more difficult to keep your money from them.

If anyone has questions about dropping PIP, it's probably best to speak to your insurance agent, as they can better explain your options.
and laws can /do vary, from state to state.




.

 

[Bob Lee]

I'm posting this in the event that someone here is paying for PIP coverage on their auto coverage and they may not need to pay this.
Maybe better stated, they can drop PIP ( personal injury protection ? ) if they are on Medicare, and have Part A and Part B coverage.
finally, a benefit for being old(er)
As with all things, there are + and - aspects to doing this, your insurance agent can better explain this.
I can say, I discovered that dropping PIP saves about 30% of the insurance cost on my cars & truck.. not a small amount.
I spoken with several friends that have done this,and it seems like a worthwhile change, for ME anyway.
as always, YMMV

As I (we) have been shopping for a new car for my wife ( which I'll drive @ times as well) I learned before buying a particular vehicle,
TALK TO YOUR INSURANCE AGENT FIRST !.. to see what insurance is going to cost.
Back in '85, I bought a new Jeep ( CJ- 7 ) while living in So.Calif., before talking to my insurance agent. After buying it, discovered that most insurance companies wouldn't insure it ! I was stuck with 1 company that was willing to sell me a policy. This was back when the Suzuki Samuari was introduced & they were having a bunch of roll-over accidents.

Yesterday I visited a State Farm agent , comparing insurance prices for the new cars we've been considering, as well as comparing their rates to USAA quotes.
I asked about lowering cost by dropping PIP coverage ( we qualify to do this) as a friend told me about dropping it.
The Agents quoted prices for new car models with & w/o PIP coverage..the difference was about 30%. .I hadn't realized the difference was that much,
so I called USAA ( my current carrier) send the paperwork to drop PIP & it was sent out today.
In addition, USAA told me I can drop 'work loss coverage" from my coverage as well, this makes sense, if you are retired.
Trying to collect $ for " work loss" would be futile if you're not employed.

Being in Mich., I will have to re-submit paperwork every 6 months ( basically resend a copy of my medicare card every 6 months)
Another thing Mich. does that makes NO sense.. probably "suggested " by the insurance industry to make it more difficult to keep your money from them.

If anyone has questions about dropping PIP, it's probably best to speak to your insurance agent, as they can better explain your options.
and laws can /do vary, from state to state.




.

Thank you sir!

 

[dennishoddy]

I wonder if this is a Michigan thing or nation wide?

 

[CECannonJr]

I'm posting this in the event that someone here is paying for PIP coverage on their auto coverage and they may not need to pay this.
Maybe better stated, they can drop PIP ( personal injury protection ? ) if they are on Medicare, and have Part A and Part B coverage.
finally, a benefit for being old(er)
As with all things, there are + and - aspects to doing this, your insurance agent can better explain this.
I can say, I discovered that dropping PIP saves about 30% of the insurance cost on my cars & truck.. not a small amount.
I spoken with several friends that have done this,and it seems like a worthwhile change, for ME anyway.
as always, YMMV

As I (we) have been shopping for a new car for my wife ( which I'll drive @ times as well) I learned before buying a particular vehicle,
TALK TO YOUR INSURANCE AGENT FIRST !.. to see what insurance is going to cost.
Back in '85, I bought a new Jeep ( CJ- 7 ) while living in So.Calif., before talking to my insurance agent. After buying it, discovered that most insurance companies wouldn't insure it ! I was stuck with 1 company that was willing to sell me a policy. This was back when the Suzuki Samuari was introduced & they were having a bunch of roll-over accidents.

Yesterday I visited a State Farm agent , comparing insurance prices for the new cars we've been considering, as well as comparing their rates to USAA quotes.
I asked about lowering cost by dropping PIP coverage ( we qualify to do this) as a friend told me about dropping it.
The Agents quoted prices for new car models with & w/o PIP coverage..the difference was about 30%. .I hadn't realized the difference was that much,
so I called USAA ( my current carrier) send the paperwork to drop PIP & it was sent out today.
In addition, USAA told me I can drop 'work loss coverage" from my coverage as well, this makes sense, if you are retired.
Trying to collect $ for " work loss" would be futile if you're not employed.

Being in Mich., I will have to re-submit paperwork every 6 months ( basically resend a copy of my medicare card every 6 months)
Another thing Mich. does that makes NO sense.. probably "suggested " by the insurance industry to make it more difficult to keep your money from them.

If anyone has questions about dropping PIP, it's probably best to speak to your insurance agent, as they can better explain your options.
and laws can /do vary, from state to state.




.

This is good information that the insurance companies would rather you didn't know. Thank-you for sharing it!

 

[joepistol]

I believe the removal of PIP is available nation-wide..
Mich. is the only state that requires a "renewal" every 6 months.. according to my USAA rep.
If fact, the first rep I spoke with transferred mt to another rep..she told me that Mich. laws are so different that they have
some reps that are trained in understanding how Mich laws work..not all of USAA reps have this training.

 

[CECannonJr]

I believe the removal of PIP is available nation-wide..
Mich. is the only state that requires a "renewal" every 6 months.. according to my USAA rep.
If fact, the first rep I spoke with transferred mt to another rep..she told me that Mich. laws are so different that they have
some reps that are trained in understanding how Mich laws work..not all of USAA reps have this training.

Michigan really, really needs a new governor. That would be a good start.

 

[red442joe]

Michigan really, really needs a new governor. That would be a good start.

I wish the FBI would finish the job.

Joe

 

[Bob Lee]

Michigan really, really needs a new governor. That would be a good start.

We tried but we couldn't do it. It appears there are a lot of libs in the state. Again the big cities are basically lib and they seem to turn out better for whatever reason.

 

[joepistol]

It's so sad..one of my best & oldest friends I've known since 7th grade, & still have contact with, is a staunch democrat.
His union told him to always vote for a democrat, as they "say" they are for the" working man".. it pains me that there are those that believe this..
I sometimes wonder if it's a " do as I'm told" mentality, so they don't have to research or think for themselves, when making a decision.
When we get together, politics is a subject we don't discuss..at all.

 

[joepistol]

Along this line, I thought I'd do some insurance cost comparisons.. I have USAA ins. and visited a State Farm office, close to my home..here's what I found.
Just for comparison, I got quotes from USAA for a few new cars under our consideration.. wrote them down (so I could remember accurately)

wife's current car is a '09 Lexus ES 350 w/ collision & comp = $483 for 6 mos.

1st new car : 04 Camary hybrid USAA $985 ( same coverage as wife's Lexus) for 6mos.
same car & coverage from State Farm $222 / mo. (x 6 mos.) = $1332

2nd car ;'04 Accord hybrid USAA same coverage $945 for 6 mos.. ( pretty close to Camary price)
same car & coverage from State Farm $ $223 /mo (x6mos)=$1338

Camary is $347 more Accord is $ 393 more thru State Farm than USAA.. for 6 mos coverage..( not a small difference, IMO)

The State Farm agent spent considerable time describing the "pitfalls" of dropping PIP, i.e. costs I would need to pay w/o that coverage.
Maybe he's required to say this, as an insurance agent (?) I think it was his way of saying.."you need to pay for this coverage"..
just a FYI ..my USAA rep didn't provide the same sales pitch for keeping the PIP

I Learned several things, despite having not yet being completely decided on what new car to buy for my wife.
*** New cars are way more expensive than older cars to insure ( note cost to insure a newer car is 2X what we're currently paying on her car)

I was told by both agents, it's because of 1) higher price of new cars, & 2) all the new electronics that may be damaged in an accident,
and the higher cost for these parts to be replaced drives up repair costs..

added: unfortunately, you are unable to buy a new car w/o the added electronics, they're considered "safety features", & many are included in the lowest price/ trim options. No getting away from them, if buying a new car.

I find it funny that Hybrids, despite having more complex systems, aren't that much more to insure than
the same model car with an ICE . The quoted difference between a hybrid Camary is $ 38 / 6mos more than the same model with ICE.
the Accord model doesn't have an ICE model for comparison, the "Accord Sport" is hybrid-only.

I've actually has some fun looking @ & test driving new cars..have driven 7 different makes/ models , so far.
I've told others that the best time to shop for a new car is when you DON'T NEED one.

I 've found when I go to test drive a car, I make it a point to tell the salesman, "I'm not buying a car today, I'm shopping to decide what car I want to buy"..
this saves time, & cuts out a lot of the sales pitch + discussion on payment options, conversations on extended warranties, etc..

justsharing some of my experiences that may help others.. as always..check for yourself, as YMMV..

 

[Bob Lee]

Along this line, I thought I'd do some insurance cost comparisons.. I have USAA ins. and visited a State Farm office, close to my home..here's what I found.
Just for comparison, I got quotes from USAA for a few new cars under our consideration.. wrote them down (so I could remember accurately)

wife's current car is a '09 Lexus ES 350 w/ collision & comp = $483 for 6 mos.

1st new car : 04 Camary hybrid USAA $985 ( same coverage as wife's Lexus) for 6mos.
same car & coverage from State Farm $222 / mo. (x 6 mos.) = $1332

2nd car ;'04 Accord hybrid USAA same coverage $945 for 6 mos.. ( pretty close to Camary price)
same car & coverage from State Farm $ $223 /mo (x6mos)=$1338

Camary is $347 more Accord is $ 393 more thru State Farm than USAA.. for 6 mos coverage..( not a small difference, IMO)

The State Farm agent spent considerable time describing the "pitfalls" of dropping PIP, i.e. costs I would need to pay w/o that coverage.
Maybe he's required to say this, as an insurance agent (?) I think it was his way of saying.."you need to pay for this coverage"..
just a FYI ..my USAA rep didn't provide the same sales pitch for keeping the PIP

I Learned several things, despite having not yet being completely decided on what new car to buy for my wife.
*** New cars are way more expensive than older cars to insure ( note cost to insure a newer car is 2X what we're currently paying on her car)

I was told by both agents, it's because of 1) higher price of new cars, & 2) all the new electronics that may be damaged in an accident,
and the higher cost for these parts to be replaced drives up repair costs..

added: unfortunately, you are unable to buy a new car w/o the added electronics, they're considered "safety features", & many are included in the lowest price/ trim options. No getting away from them, if buying a new car.

I find it funny that Hybrids, despite having more complex systems, aren't that much more to insure than
the same model car with an ICE . The quoted difference between a hybrid Camary is $ 38 / 6mos more than the same model with ICE.
the Accord model doesn't have an ICE model for comparison, the "Accord Sport" is hybrid-only.

I've actually has some fun looking @ & test driving new cars..have driven 7 different makes/ models , so far.
I've told others that the best time to shop for a new car is when you DON'T NEED one.

I 've found when I go to test drive a car, I make it a point to tell the salesman, "I'm not buying a car today, I'm shopping to decide what car I want to buy"..
this saves time, & cuts out a lot of the sales pitch + discussion on payment options, conversations on extended warranties, etc..

justsharing some of my experiences that may help others.. as always..check for yourself, as YMMV..

 

[Bob Lee]

Miss LD's brother dropped the pip and I thought he was nuts. Horror stories of what happens if your on medicare, and you get hurt badly. I'm going to have to research this as our ins is due in April. I'm almost 71 and Miss LD is younger but on total disability. Our ins is high for our age group, and considering our cars are a 2007 Equinox LD's and a 2011 Accord mine. In 2023 I did total my 2005 Marquis due to black ice. I realize that has an impact (pun intended) but really?

 

[HooDoo Man]

Very hard to tell anything real in the insurance industry. About as truthful as the Dem's.

 

[Babboonbobo]

I pay less than 1/2 your quoted prices on an 800hp 2022 Challenger at $84/month
Truth be told I have full coverage on all of my vehicles with $500 deductibles which includes.


2022 Challenger 6.2l 807hp
2021 Jeep Cherokee
2014 Jeep Wrangler
2013 Ram 1500 4x4
2016 Harley RG Ultra
Home owners on main house
Coverage on property and garage on future home site
Umbrella policy for any issues
Extras coverage for collections

Total for all of it $382 month!!!

 

[joepistol]

I'll guess insurance coverage is a lot less in your area than it is in my area .
What Ins. company do you use ? I wouldn't mind / had planned to do some more ins. comparison shopping..
I know bundling house & vehicles lowers cost for both. Have you cancelled PIP with your policy ?

added: read an online story that Mich. has the highest priced auto insurance policies in the country...
with Detroit being the absolute highest.. closest is NYC

 

[Babboonbobo]

I'll guess insurance coverage is a lot less in your area than it is in my area .
What Ins. company do you use ? I wouldn't mind / had planned to do some more ins. comparison shopping..
I know bundling house & vehicles lowers cost for both. Have you cancelled PIP with your policy ?

added: read an online story that Mich. has the highest priced auto insurance policies in the country...
with Detroit being the absolute highest.. closest is NYC

You've already priced through them and yes Michigan is the worst, especially with the no fault insurance!
I'm in NW Ohio so have a lot of Michigan drivers in our area.

 

[Bob Lee]

I'll guess insurance coverage is a lot less in your area than it is in my area .
What Ins. company do you use ? I wouldn't mind / had planned to do some more ins. comparison shopping..
I know bundling house & vehicles lowers cost for both. Have you cancelled PIP with your policy ?

added: read an online story that Mich. has the highest priced auto insurance policies in the country...
with Detroit being the absolute highest.. closest is NYC

Oh yaaaa just one more darn thing to hate about my home state. Actually it's not the state it's the libs and our crappy government I can't stand. I'm too old to move, and too dumb to shut up sooooo you may finish my last thought any way you'd care to.

 

[CECannonJr]

Oh yaaaa just one more darn thing to hate about my home state.

Com'on down to North Carolina. The weather is better, along with a lot of other things. It's a terrible shame that liberals are damaging the beautiful and storied state of Michigan, along with a number of other states. They are absolute poison for everything.

Even better, consider South Carolina.

 

[Bob Lee]

Com'on down to North Carolina. The weather is better, along with a lot of other things. It's a terrible shame that liberals are damaging the beautiful and storied state of Michigan, along with a number of other states. They are absolute poison for everything.

Even better, consider South Carolina.

Love too but again too old to move, and too far from grandkids. But it's a nice thought. I've wanted to go to Tennessee for at least 30 years just never got the nerve to go. Now on too old and set in my ways. I hate moving, and from what I'm hearing things are getting messed up there too. Dang libs are messing everything up.

 

[CECannonJr]

Love too but again too old to move, and too far from grandkids. But it's a nice thought. I've wanted to go to Tennessee for at least 30 years just never got the nerve to go. Now on too old and set in my ways. I hate moving, and from what I'm hearing things are getting messed up there too. Dang libs are messing everything up.

No matter what, those Grandkids are good reason to stay.