Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [car-insurance]

related to automobile insurance. There is also a generic insurance tag.

related to automobile insurance. There is also a generic insurance tag.

187 questions
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16 answers

For very high-net worth individuals, does it make sense to not have insurance?

Various types of insurance (health, car, life) protect you from relatively low probability but very expensive events in life (cancer, serious car accident, etc.) For the average person, it makes sense to have these kinds of insurance, because we…
minou
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6 answers

Why does Geico ask me not to reveal the limits of my liability coverage in case of a car accident?

I read on my "Evidence of Liability Insurance card" issued by Geico in California, US: What to do at the time of an accident: […] Do not reveal the limits of your liability coverage to anyone. Why does Geico ask me not to reveal the limits of my…
Franck Dernoncourt
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42
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7 answers

Is insurance company’s preferred auto shop biased?

I was rear-ended. There's a crack on the upper part of my bumper and the plastic part of the trunk locking mechanism is broken (though the trunk still closes). The insurance company was pretty insistent that I use one of their recommended auto…
charmingToad
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38
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2 answers

Car insurance (UK) excludes commute to and from work, will not pay on claim during non-commute

My girlfriend was recently involved in a crash where both parties are claiming it was not their fault. She took out a policy with an insurance company called GoSkippy whose brokers are Eldon Insurance. Unbeknown to her is when she took out the…
dagda1
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36
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7 answers

If I have an accident, should I file a claim with my car insurance company?

If I am in an accident that causes no personal injury, but causes damage to both cars that requires new panels (and has a quotation of $3,000 to fix mine)... how do I decide whether to claim against my insurance? I've had some people say that I…
Peter K.
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33
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12 answers

Why is auto insurance ridiculously overpriced for those who drive few miles?

It's not just one company. The problem is our current driving is something under 4,000 miles/year and the discounts for low driving aren't remotely as big as the difference in mileage. I don't think my personal situation affects the cost because…
Loren Pechtel
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31
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6 answers

Auto premium increasing with aging vehicle and no new tickets

I have just received a new auto insurance bill for the next six months for my comprehensive insurance. It is about 8% higher than the previous six months whereas I have had no new moving infractions and the vehicle is the same as before, meaning…
amphibient
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28
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8 answers

Why does car insurance also insure for injuries rather than only insuring the car itself?

At the very least here in British Columbia car insurance is very expensive because of substantial payments towards injury and rehabilitation compensation. To me this doesn't make much sense, as in theory car insurance and disability/health insurance…
JonathanReez
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23
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7 answers

If I let a friend drive my car for a day should I tell my insurance company?

If you have a friend visiting from out of state and you let them drive your car to a museum or something, as a one-off thing, I think it's a little impractical to let your insurance provider know that your friend is driving the vehicle, but…
neubert
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22
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4 answers

Suppose leased car is totalled: what are financial implications?

Inspired by this question on totaling vs repairing a car and my situation (I'm leasing a car) my question is: Suppose a leased car, properly insured as per the lease (i.e., comprehensive) is involved in an accident and is totaled by the insurance…
davidbak
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21
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8 answers

Is it true that car insurance can go up if a member of your family gets a license?

I was told that because I live with a parent, if I were to get a drivers license, their insurance payments would be higher, even if I'm not actually on their insurance. Is that true? How would the insurance company even know I have a license anyway?…
David G
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20
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4 answers

Should I tell my insurance company I have an unsecured loan for my new car?

Generally, I do all of my quotes online instead of dealing with an agent. They've always asked if the car is leased, financed, or owned. In my current situation I am technically financing the car, but the loan is unsecured. This means that the title…
Jeremy
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5 answers

In the United States, how do you get car insurance (auto liability) which is valid no matter what car you are driving?

Almost all auto insurers I speak with require that I give them the model and make of the car I will be driving. For example: Chevrolet Silverado Honda Civic Subaru Outback Consider if I got in a car accident when I was... driving a friend's…
Michael Butler
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19
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14 answers

I’m 18 years old and want to finance a £30,000 car

I'm 18 years old and I've always wanted an Audi Q5. Currently, I'm working full-time. I earn £28,800 annually and that will be due to go up soon. The car I've had eyes on costs £31,789. The monthly costs will be £632.02. It will be a hire purchase…
Rickss
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3 answers

When does it make sense to cancel collision and comprehensive auto insurance?

I have owned my car for about 8 years now and have had collision and comprehensive auto insurance the whole time. The starting value of the car was around $20K. The trade-in value is currently ~$6K (~$8K private party value) according to Kelley Blue…
Craig W
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