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Old 23rd March 2013, 02:26   #2326
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

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Originally Posted by rajushank84 View Post
Apparently not. This one is listed under "Property damage liability" and that applies to causing damage to other vehicles or other property. That has a limit set on it, which was previously set to 5k.

The one listed under "Collision" covers damage to my vehicle.
Usually you have deductibles for collision and comprehensive coverage - the higher the deductible, the lower the premium. Also the more expensive the car, the more the premium, the better safety ratings the car has, less premium, if the car is categorized as a sports car, more premium etc. I have not known of a limit on the payout from insurance based on how much you pay. I mean at least the websites don't talk about any such stuff. However I will not rule out that option if an agent does some behind the scenes manipulation.
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Old 23rd March 2013, 02:50   #2327
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

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Apparently not. This one is listed under "Property damage liability" and that applies to causing damage to other vehicles or other property. That has a limit set on it, which was previously set to 5k.

The one listed under "Collision" covers damage to my vehicle.
Originally you mentioned that your Collision Insurance is only 5K. Now, the term Collision in Insurance language means that its to cover your car/property. The term Liability coverage relates to the payout to the opposite party's damage when you are at fault. Please recheck your "Liability coverage" limit on the policy. It can never be 5K, its usually in the range of 100K+.
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Old 23rd March 2013, 02:50   #2328
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

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Originally Posted by vineethvazhayil View Post
Usually you have deductibles for collision and comprehensive coverage - the higher the deductible, the lower the premium. Also the more expensive the car, the more the premium, the better safety ratings the car has, less premium, if the car is categorized as a sports car, more premium etc. I have not known of a limit on the payout from insurance based on how much you pay. I mean at least the websites don't talk about any such stuff. However I will not rule out that option if an agent does some behind the scenes manipulation.
Collision and comprehensive are for your own vehicle, which doesn't have any limit (terms and conditions still apply) on coverage and uses factors like vehicle's age, condition, market value etc to determine the insurance payment.

What Vineeth is talking about is coverage for other people's vehicles/property because of damage caused by your vehicle. For my policy, the limit I have is 100k as the other car can be a freaking Ferrari .
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Old 23rd March 2013, 03:36   #2329
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

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Originally you mentioned that your Collision Insurance is only 5K. Now, the term Collision in Insurance language means that its to cover your car/property. The term Liability coverage relates to the payout to the opposite party's damage when you are at fault. Please recheck your "Liability coverage" limit on the policy. It can never be 5K, its usually in the range of 100K+.
My bad. I really meant referring to "Property Damage Liability". That is what covers damage to other vehicles and there seems to be a limit on that (5k before i changed it).

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Collision and comprehensive are for your own vehicle, which doesn't have any limit (terms and conditions still apply) on coverage and uses factors like vehicle's age, condition, market value etc to determine the insurance payment.

What Vineeth is talking about is coverage for other people's vehicles/property because of damage caused by your vehicle. For my policy, the limit I have is 100k as the other car can be a freaking Ferrari .
^ This.

Other Geico users can cross-verify what I am saying. Log in to Geico -> Policy -> View/Edit Coverage Info. The page is divided into two sections:

a) Protects you and your passengers - this has a line-item called "Property Damage Liability" which has a limit on it. This is the one that covers damage to other vehicles (there is a hover tooltip that explains). This has a limit which was initially set to 5k in my case.

b) Protects your vehicles - these cover damages to one's own vehicle. These have Comprehensive and Collision as line-items, and these have deductibles.

Oh and there is no agent involved. I signed up for this directly on geico.com.

Last edited by rajushank84 : 23rd March 2013 at 03:37.
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Old 23rd March 2013, 07:07   #2330
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

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My bad. I really meant referring to "Property Damage Liability". That is what covers damage to other vehicles and there seems to be a limit on that (5k before i changed it).



^ This.

Other Geico users can cross-verify what I am saying. Log in to Geico -> Policy -> View/Edit Coverage Info. The page is divided into two sections:

a) Protects you and your passengers - this has a line-item called "Property Damage Liability" which has a limit on it. This is the one that covers damage to other vehicles (there is a hover tooltip that explains). This has a limit which was initially set to 5k in my case.

b) Protects your vehicles - these cover damages to one's own vehicle. These have Comprehensive and Collision as line-items, and these have deductibles.

Oh and there is no agent involved. I signed up for this directly on geico.com.
Did some search and found this:
http://personalinsure.about.com/cs/v...utominimum.htm

This is what I've from State Farm:
2011 BMW X5 SPORT WG
Quote / Change Coverages
Coverage
Coverage Details
Premium
Liability - Bodily Injury /
Property Damage
$250,000 each person / $500,000 each accident
$100,000 each accident
$96.72
Uninsured Motor Vehicle - Non-Stacking
$100,000 each person / $300,000 each accident
$4.38
Underinsured Motor Vehicle - Non-Stacking
$100,000 each person / $300,000 each accident
$10.55
Comprehensive Deductible
$500
$76.36
Collision Deductible
$500
$142.15
Emergency Road Service
No Coverage
$0.00
Car Rental and Travel Expenses
$25/Day Max $600
$7.80
Medical Payments
$5,000 each person
$6.70
Total Premium
(total premium includes your discounts)
$344.66

Hope this helps others. This is through a State Farm agent. What if we crash into any European cars which are more than 50K+ worth on a average. That would set us back big time if the car is totaled.
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Old 23rd March 2013, 08:17   #2331
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

@viper_srt: Excellent point! So I logged in again to check how much it increases if I change it from 25k to 100k now. You know what? It went up by seven dollars for six months! Thats just a little over a dollar per month!

Wow. I'm glad I checked the coverage. Paying so much, it makes sense to get coverage for it.
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Old 23rd March 2013, 09:03   #2332
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Originally Posted by rajushank84 View Post
@viper_srt: Excellent point! So I logged in again to check how much it increases if I change it from 25k to 100k now. You know what? It went up by seven dollars for six months! Thats just a little over a dollar per month!

Wow. I'm glad I checked the coverage. Paying so much, it makes sense to get coverage for it.
Glad we all had a discussion!
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Old 23rd March 2013, 09:32   #2333
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

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Medical Payments
$5,000 each person
$6.70
Everything is great. Just that you don't have to take medical payments if you are paying health insurance. You can save this payment by removing it from your policy. Trust me, its useless.

Quote:
Originally Posted by vineethvazhayil View Post
Also the more expensive the car, the more the premium, the better safety ratings the car has, less premium, if the car is categorized as a sports car, more premium etc. However I will not rule out that option if an agent does some behind the scenes manipulation.
Sorry but the highlighted part is not true. My corvette which is categorized as a sports car has less premium than my G35 even though both are categorized as daily drivers being used for commute

Also, an agent can add additional discounts like student, good driver and some other types that can lower your premium. Till last year, i had student and good driver on my record. Both were removed this year because of me being graduated and a red light violation ticket.

Last edited by chevelle : 23rd March 2013 at 09:39.
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Old 23rd March 2013, 10:45   #2334
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Everything is great. Just that you don't have to take medical payments if you are paying health insurance. You can save this payment by removing it from your policy. Trust me, its useless.

Sorry but the highlighted part is not true. My corvette which is categorized as a sports car has less premium than my G35 even though both are categorized as daily drivers being used for commute

Also, an agent can add additional discounts like student, good driver and some other types that can lower your premium. Till last year, i had student and good driver on my record. Both were removed this year because of me being graduated and a red light violation ticket.
I've very good health insurance, I'll take off that option. Thanks Chevelle! Liberty mutual categorized my Acura TL as a sports car and gave a pretty high quote. I changed my policy to State Farm and the quote came down drastically. Sometimes it all depends on the insurance company and the location.
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Old 23rd March 2013, 11:07   #2335
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Originally Posted by chevelle View Post

Everything is great. Just that you don't have to take medical payments if you are paying health insurance. You can save this payment by removing it from your policy. Trust me, its useless.

Sorry but the highlighted part is not true. My corvette which is categorized as a sports car has less premium than my G35 even though both are categorized as daily drivers being used for commute

Also, an agent can add additional discounts like student, good driver and some other types that can lower your premium. Till last year, i had student and good driver on my record. Both were removed this year because of me being graduated and a red light violation ticket.
Not sure if its true but sometime back I read an article (don't remember where) that the history of a model also counts. How often that model gets crashed, how often it gets broken-into etc. the civic was on the most-broken-into list in early 2000s if I remember correctly.

So it may not be simply power/sports factor. Their algorithms could be more complex (just guessing). I was similarly surprised when my insurance did not go up at all when switching from mazda3 to 335i.
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Old 23rd March 2013, 22:05   #2336
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

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Congratulations!! Great choice!

But c'mon all we get to see is the tiny avatar pic? Post pics man!
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Actually, is one of the traits of blue lovers, the lack of loyalty? I personally love blue (probably over black and white), but have never bought a blue car, for eg. I have however booked and cancelled one in the past in blue color!

Anyways, I think we should put this topic to rest!

And, Meghan - we need a proper garage set of pics man.. After all, the color choice of your car initiated so much discussion! Also - we definitely need a little initial ownership review.
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Congratulations. That's an awesome car. Do post some photos.
Thanks for the comments, added pics to the garage. Here's one with the black and white treatment

Buying, Owning, Driving and Maintaining a car in North America-bfdsc_1705.jpg
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Old 23rd March 2013, 22:20   #2337
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

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Thanks for the comments, added pics to the garage. Here's one with the black and white treatment

Attachment 1065316
Nice photos there. Looks like taken on Highway 1 in CA. Where are you located?

EDIT: Now I see your location on your handle. I'm in San Jose. We guys in/near Bay Area should do a small team-bhp meet.
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Old 23rd March 2013, 23:15   #2338
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@meghan: car looks hot! Congrats!

@gandhi: me from San Jose too. If you are planning a meetup count me in!
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Old 24th March 2013, 13:43   #2339
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

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Congrats meghan. The car looks the business. Please post some interior pics when you get a chance. Would be great to hear her handling characteristics and any peculiar quirks, if any, after the break-in period, of course. Looks like a real nice buy.

Cheers.
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Old 24th March 2013, 18:27   #2340
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

How many of you agree with this piece of wisdom on AWD v/s snow tires ?

http://autos.yahoo.com/news/the-myth...210608212.html
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