Anybody Have Auto Owner's Insurance?

[tradosaurus]

My 14 yo daughter ran my 1 week old Honda Pioneer into a tree on my property. My homeowners insurance paid the $8K bill to replace the frame.

Insurance is there for a reason.

 

[Larry Caldwell]

I would not file claims on things like that. I would take responsibility and pay the repair bills myself instead of making other policyholders pay them.

If you are going to self-insure, there's no reason to carry collision and comprehensive. The only thing my state requires is liability insurance. If you turn in a claim on collision or comprehensive, other policy holders are not paying for it, you are, every month for years.

 

[MossRoad]

Fault.

If I back into something and do damage to my own property, I pay for it.

If I back into something and do damage to the property of others, I at least offer to pay for it.

Are you the guy with no insurance?

 

[JethroB]

Fault.

If I back into something and do damage to my own property, I pay for it.

If I back into something and do damage to the property of others, I at least offer to pay for it.

I’m a bit confused Diggin, no foul intended. You started this thread about purchasing insurance. I agree with you (above) on minor damages.
I go with a high deductible to reduce the premiums and my reduced likelihood of being in a road accident. (Very low annual mileage).

 

[Oaktree]

If you are going to self-insure, there's no reason to carry collision and comprehensive. The only thing my state requires is liability insurance. If you turn in a claim on collision or comprehensive, other policy holders are not paying for it, you are, every month for years.

Liability, uninsured motorist and medical payments is all I carry (my state doesn't require insurance, but it's stupid not to), but my vehicles are old. Most, if not all lenders require collision. At what point after a vehicle is paid off do you typically drop collision?

 

[ultrarunner]

Had Fireman’s Fund for decades until they left the market and the a scramble ad many companies refuse to write now citing fire losses in the West.

Many new homeowners have split policy with Fire through State pool and Liability/Homeowners through private big name…

 

[Diggin It]

At what point after a vehicle is paid off do you typically drop collision?

When BlueBook (or similar) is near your deductible.

My cars are worth about $1500 or so each. Not much reason to pay very much for collision with a $500 or higher deductible. I dropped it for years since my state (and probably others) classify animal strikes under Comprehensive. Figure if I hit a deer, I'm still covered.

Year or so back, Flo made me an offer I couldn't refuse. Same coverages I had with other companies for less than half the premium. Then I found out I could add Collision back on for just a few dollars a year, literally next to nothing. Now paying under $50/mo for both cars with full coverage. Annual mileage of under 4,000 and a high credit rating helped a lot.

I picked up AO for homeowners only. Their rates were insane for auto.

 

[RustyA]

Auto Owners here for home, autos, and business. Rates actually went down this year. $2500 deduct on home, $1000/500 on collision/comp, $2500 on business. Great rates and a good company. Progressive on boats and 4 wheeler very reasonable and agreed value policy.

 

[rbstern]

Auto Owners for the last 20 years or so. Have had three claims: 2012, basement flood for burst water main. Covered everything including mold mitigation services. Approx. 2014, dishwasher failure damaged wood floor in kitchen. Adjuster came and looked, said it would be impossible to match the damaged section, said AO would pay for a new floor. About 800 sq ft of new floor to repair about 50 sq ft of damage to a wood floor that was already 22 years old. 2021, lightning strike with extensive damage to home electrical and electronics, and two vehicles. A complicated claim with two different adjusters (home, auto); service wasn't quite as sharp as previous two claims, but still good. Covered everything. Issuing checks before I could even submit receipts.

We have everything with them. They throw in a $100,000 head of household term life policy at no charge. We've also used the same agent for 30+ years. They are great about researching savings based on configuring policy options.

 

[square1]

AO here for home, auto, business & personal umbrella.
Had an issue with them several years ago when a green out of college claims adjuster denied a water damage claim saying it wasn't an "event" it was a long term maintenance issue.
I'll cancel with them someday over that, right now (and at that time) I don't / didn't have the time to take on insurance.