Author: <span class="vcard">MadRover</span>

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What have I been looking for with auto insurance?  Basically lower auto insurance, but higher coverage.  I want to get an umbrella policy in the future.  Also wanted a bulk discount so I priced home insurance out.  Everyone basically came out the same.  I also wanted a company that wouldn’t bs me too much and not cause me heartache.  That’s why the ratings were important to me.  Hope this helps you when searching for auto insurance.

Summary/Tips

  • Price out insurance every 2 years.  Rates change, violations roll off, etc.
  • Go with the higher collision deductible, lower comprehensive deductible.   That was for my case, could be different.
  • Amica, USAA and Erie seemed to be the favorite insurers.
  • Don’t be afraid to switch companies and shop around.  Or even call your existing insurer to reprice.

I’ve been with Liberty Mutual for awhile now and always thought I was paying ridiculous rates.  Well finally, I decided to do something about it and shop around.   I surfed around on various forums on auto insurance to refresh my memory on what I should be looking for.  Things I was trying to figure out were what companies should I be looking for, what kinds of premiums I should be getting, the ratings for various insurers and the types of coverage I needed.

Types of Coverage

Now that I look back at the coverage I used to have, it was pretty low.  And although it was low, my premium was high and understanding deductibles made it clear to me why that is the case.  Let’s talk coverage first.  I used to have a 100/300/100 coverage – which means that if I was in an accident, I would be covered for bodily-injury liability claims up to 100k per person in an accident up to a max of 300k for the accident.  The 3rd number there is for property damage, so again, if I was at fault for an accident, then my coverage for property damage such as the car or anything else I hit like.. say, a house… would be covered up to 100k.  So the story there is don’t hit a house or a Ferrari.  And if you are going to – then look into having an umbrella policy when you do it.  I bumped my coverage up to 250/500/100 in preparation for an umbrella policy.  That’s typically the minimum in order to qualify for an umbrella.  I kept the same for Uninsured Motorist coverage – which covers you in the event that you are in an accident with someone who doesn’t have enough insurance to cover the bills or is even uninsured.

Medical expense I didn’t spend much time researching and did 5k.  Income loss I declined because I’m assuming my short-term disability would cover me there.  Perhaps I should check.

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