Recently I am applying to property & casualty actuarial positions, hence I wanna learn about auto insurance coverages. Your video is really of great help to me, it is interesting how is so different in every state too. Thank you very much!
I want to know for someone with lots of assets over 1M+ heck not sure if we need to further subdivide 5M, 10M, 20M 50M, 100M classes into other categories on what to do. But I guess what coverage limits for car insurance do you need. And which is better to do. Should one go for car insurance that is 500k/1M. Or should they just stick with 250k/500k or 100k/300k and instead go with an umbrella policy with the savings.
Talking with an agent might be a good idea. Doing an umbrella is a better option because it covers more than just car accidents and is not very expensive for the amount of coverage you get
They will still sue you, but your insurance company will provide an attorney to defend you. The insurance will pay any judgement against you, up to the amount of the $ limit you have chosen. Usually the insurance will pay any excess amount above your policy limit, if that insurance company had the opportunity to settle the matter pre-suit for an amount within your policy limit.
I recently changed auto insurance from State Farm to Progressive. I went from 50/100 to 30/60 Liability bodily injury coverage in Texas. We are in our 60’s, and doesn’t drive much. Can you give us some advice?
Thank you! Great Channel - Great content!! I would recommend showing graphic information (like quote samples) in the video that will really help visual learners like myself.
Hi, I really don't reside in Florida anymore because I'm being stationed in Groton CT. I'm only 19 years old and the only thing im still trying to get at is buying a decent vehicle but I don't have any credit at all whatsoever. I do plan on buying it in cash and making monthly payments for a decent vehicle
@TheSuperanimedrawer yo I completely forgot about this, well to update ya I have a 2013 subaru legacy, paid off now, and recently I just got a '13 camaro SS, you were right about the credit card, got one, paid it off (when I could) built good credit and now I'm just having fun. Thank you again for the advice man
I have full windshield coverage, what if I claim insurance for a windshield replacement, then 3 weeks later a big rock hits it and I need to replace it again, can I just claim it again to get it replaced or do I have to wait a certain time?
Sheeee 🫣. That sucks. Yes you can claim it again, there is no restriction on how long you have to wait if you need to file another claim. Just make sure with your agent if there will be any impact on your renewal. Sometimes there is none, others times it can affect your renewal or claims free discount if you have one. So what’s best for you
Insurance for teenagers is ridiculous. I checked a couple years ago and it would have been 120 per month, it’s now 67 per month for me since I turned 21
Dude fuck this I’m 21 years old living in Connecticut and they are trying to charge me 300-600 everywhere I look for full coverage and I need full coverage for my fucking finance. Fuck this what are humans supposed to do that don’t have the luxury of a mom or dad to cosign, fuck this shit.
@@WilsonAbrego your not wrong recently my friends ditch school to do pranks in a mall and they were racing and one of them swerve of the road ( they just swerved off the road on an empty highway soo no one was hurt or arrested , they didn’t flip or crash or anything)
So I just bought my first car and need to get insurance. So I was told to do 100/300/100 Because that’s show that I want to protect my assets more showing I’m a responsible driver. I’m not sure what all those numbers and shit really mean. Based off the video and what I heard, they are just the amounts that will cover you and other people in an accident. Anyway I live in Maryland. I’m just super stressed because New Jersey messed the title up and put 270k miles instead of 207k and I’m worried the odometer got pushed. But NJ says it’s a clean title. Idk I’m just stressing about nothing which is making it impossible for me to worry about my insurance. Also would you think it’d be best for me to get a plan with my mom on her already existing one or start my new, own insurance? I’m just so young and dumb and don’t know anything cause we never get taught in school about this. I don’t want to end up fucking myself over when I’m young cause I didn’t know any better. I was going to call progressive, Geico, and all state. Those are the three I got so far.. any more recommendations or advice y’all could give me would be very very much appreciated.
Cost wise it’s most likely less expensive under you mom. That’s what I would do if it is an option. It can’t hurt to get a quote from Geico to see. Yes the Liability limits are coverage you carry for others if you hurt them. 100/300 = $100,000 per person up to $300,000 per accident. $100,000 for property damage if you are at fault and damage someone’s car/property.
Hi Mark. Thank you for the educating videos! I'm 26 years old and planning to have a new 2021 Honda Insight (this is gonna be my first car since I just relocated to the US). I now live in Fremont, CA. What are the best options I have, Mark?
I had just come over railroad tracks and was driving accross the street that ran parallel to the tracks. A person stopped on that street then left her stop sign and ran into my car, she admitted she caused the accident in the police report. I told my provider, they told me that since I had liability insurance I was on my own and they would not talk to me. The other drivers insurance compamy kept blaming me for the accident and told me to get lost. It took me a month and a half before I got my car to the repair shop.
I can tell you from experience that if you do not have a name brand/reputable insurance company and opt for for a 3rd rate insurance company instead, when it comes to a claim and you have to deal with that 3rd rate insurance company, it’s a nightmare. Better off paying a little more for a reputable company.
thanks you 🙏🏼. I can’t recall if I did make a work from home video. The main part is if you’re driving less miles, let your insurance know. It might save you some $
In most cases it will be considered a collision. There's a saying, when in doubt, take Bambi out. That's because if you hit the deer it's comprehensive, if you swerve and hit the guard rail, it turns into a collision. Ultimately it's up to the adjuster but that's how the majority of policies will handle this.
Great video! I understand that reporting a claim does have an impact in the policy premium. Although does is affect the same way when it is at fault versus not at fault?
Great video…I learn so much. I’m from Bronx, NY someone hit my parked car in the street and damaged the tire, door and mirror. I only have liability should I contact my insurance, do they help fixing the damage. One more thing, can I request to see security surveillance from a shelter in front of where they hit my car because I don’t know who hit my car. Any reply would be greatly appreciated🙏🏻
If you don’t have Comprehensive and/or Collision or, uninsured motorist property damage, then there’s not much your insurance can do. It could hurt to ask for the surveillance footage but I personally would notify my insurance, especially, since there’s nothing they can help with.
May i ask in Oklahoma my insurance told me i dont need Un-insured motorist ... i got high courage with everything else. Ii have always been told to get Un-insured motorist
Thanks for your video. But I have few questions here. 1. If someone else drives our vehicle who is not listed on Policy will insurance company pay for Expenses of both driver and vehicle. 2. If someone else drives our car and driver is not listed on Policy but have insurance with other company , which company will pay for the claims. 3. If you drive someone else car where that car doesn't have an insurance but you have insurance for your vehicle , so during accident will our own insurance company for injuries done to me 4. I'd our insurance company pay for under insured expenses, will my insurance company sue the under insured insurance company?
You’re better off calling your agent and getting specifics. I can only tell you what is typical because I don’t have your policy to look at. In most cases, unless excluded, or specific stated, insurance allows permissible use which is a friend driving your car. They would get the same coverage as if you were driving. If they’re liable for the accident, your insurance may pay first but likely have your friends insurance repay them. It is illegal and negligent to drive a car without insurance which may cause you to be denied coverage. Most of the time, you and/or your insurance be sued and sometimes they pay to avoid it. Yes, your insurance may and likely will go after the un/underinsured driver via subrogation
Hey Mark really liked the video. I had a few questions and was wondering if I would be able to call you and ask you a few if you had a moment to spare. I’m turning 25 in March and currently looking for a new insurance company while writing this. I’m not sure exactly what route to take and what coverage I would necessarily need. The videos have been very helpful and I understand the main basic concepts for auto insurance but like I said I just have a few questions. I would appreciate it if it was possible to talk with you over phone. Please let me know if it’s possible ?
Appreciate all the info you are providing in this video. I've been looking into car insurance more recently because my wife just got into a bit of an accident that was at fault, but no other car was involved. We have had progressive for the past 4-5 years and they've been great, I'm wondering if you'd recommend looking at anything else for the state of Maine? That's were we are located right now. Also maybe a slightly unrelated question but I haven't been able to find a good answer - typically when you have $3-7k in damages that need to be repaired how much does your insurance premium go up? Is it double your current premium? 20% more? Just looking for a ball park number. Does the amount you spent on the fixes/repairs contribute to how much the next 6 month premium goes up or not? Thanks for any insights you can provide!
Thanks for the comments. I’m glad I’ve been helpful. It’s hard to say accurately how much it will go up since each state and company have their own rules but in most cases 15-20% seems typical. In Maine it tends to jump more than that. Also keep in mind the length. Some companies only go back 3 years vs 5. In 3 years you may be better of switching if the time comes.
@@ThinkInsurance Incredible. Thank you for your thoughts here. That's not too bad of a jump. Obviously we will see what actually happens but it's nice to know. And great info about switching potentially. Keep up the great content, learned a lot from your videos so far! The other things that are hard to wrap my head around are health insurance, dental etc. and how that all works and what's the best options at the best prices!
It’s your call to what you’re willing to pay but If that’s the value, I personally would not carry it unless the additional cost was less than $80/month. If you can afford to replace it then it’s worth checking out if you would carry collision.
Your renters policy likely has liability coverage but it likely excludes negligence. If you drove without insurance, I expect it won’t protect you. You need an auto policy to cover your liability and property damage for that situation
Thank you. I recently did a “best home insurance in Virginia” video. If you want to talk to someone, a partner of mine, Devin, can help. If you fill out the quote form in the description, that will send him your contact info.
So let’s say someone without insurance hits you and you need to go to the doctor, what covers that? From what I understand uninsured liability covers your vehicle not your health costs, so what covers your medical costs? Collision?
What insurance do you recommend i go with here in Las Vegas? I will be getting a brand new 4 runner and shopping around for insurance. Got a quote from AAA. I'm new to Vegas. Thank you for the great video.
The Low limits for insurance is just flat out stupid !!! I make sure I have high coverage on all our auto's . The way people have been for at least the last decade or longer , people are seriously sue happy and will always try to sue you for more than everything you have and then some !!! Also make darn sure you have a dash-cam in everyone of your vehicle's , very important !!!!!! Today's vehicle's are quite expensive on new cheap vehicle's and ridiculous for the majority of vehicle's !! Also people get high priced Lawyer's or Attorneys to get everything you have and more of what you don't already have !!! It only takes one accident and you're broke for life !!! They will garnish or take all the money you earn in the future too !!! If you have a good or great driving record and are older , the high coverage insurance is really not bad at all . To protect your driving record is to have a dash-cam !!! To prove your innocence as it has saved us big time from scammers !!! People these days Can't drive worth a darn and are out to get you !!! I don't and won't drive or own anything brand new , relatively new or high priced vehicle's as that makes you a Freaken target !!!! They Are Out To Get You These Days !!!
Hi there, Mark! Thanks for the informative video. I went ahead and subscribed to your channel. I'm 24 and will be turning 25 in the summer. I'm in the process of moving from Illinois to Florida. I'm realizing how expensive FL car insurance is and trying to understand what coverage I actually need. I have a clean driving record, except for a speeding ticket I got several years ago. This May, the speeding ticket will be 3 years old and hopefully will no longer impact my insurance rates. Do you have any auto insurance company recommendations based on my situation? Any other advice you have would also be helpful. I really appreciate your time!
In OH they don’t have PIP. They do med pay which is usually no more than $10,000 per person if they carry it at all. They default heavily on their BI limits
If by both sides you mean comprehensive and Collision, I personally wouldn’t do it, depending on the value of the car. 2009 or older I start to question if it’s worth having comprehensive and collision. Used cars are worth more today than they were before you would want to research the value of your car and decide if it’s worth the extra cost to you.
Hi. Thanks for all the info you providing. Can you please answer my question? If you have an accident and assume that its your fault, would you pay $800- $900 from your pocket for the cost of damage of other's car? Or would you just claim it to your insurance? It has recenly happened to me and I have no idea if i just pay cash or go with insurance. The other person said he would have his car doors replaced which would cost about $2000-$2500 if we go with insurance. The auto shop that i know says that they can fix the damage with the price only if i pay cash and the other person said it is up to me whether i pay cash or go with insurance to fix his car. He said he would be okay as long as the damage of his car repaired well. Do you think...... Paying cash is better? Or JUST go with insurance? And my car has some dent as well and if my cars' damage repaired by insurance, do i need to pay the deductible as its most likely my fault? And it affects my premium? Please answer your opinion! THANK YOU SO MUCH.
If this is your first occurrence in the past 5 years I would find out if your insurance plan includes accident forgiveness. If so and you have a clean history, I would file the claim. If you’ve had multiple claims then I personally would consider paying it out of pocket. It’s hard to give you an exact answer since each state is different and your history etc… Personally I would lean towards filing a claim if it’s someone you don’t know and they mentioned replacing the doors. They could potentially go after your insurance later saying it wasn’t repaired properly then you’re stuck with both problems. You’re only going to pay the deductible if you’re repairing your car, not the other persons.
Sir, good channel but, I was a State Farm insurance customer for over 35 years and State Farm Insurance cut Me. The reason being too many claims on roadside request. Now, every auto insurance Company I change to, the first six months are fine than the last six months of the year they increase my rates. I had check with All State insurance on my Zip code regarding accidents. The red zone!!! E-commerce and Rideshare drivers! This is only my opinion. Larry
It's all a scam. Let's use averages here and say you own a car for 10 years and have paid 200 dollars a month for insurance. You have paid nearly 25 grand to an insurance company. Let's say you do have an incident, well even though you have given them all those thousands of dollars, they will still raise your rate after an incident and charge you a deductible. I've given the same insurance company nearly 50 000 dollars in my life time so far for vehicles and in that period have made 2 claims not totalling 5 grand in damage, yet the rates will go up the second I have to use a sliver of that money. So they bag nearly 50 grand and I'm essentially paying for the incident slowly with more money via them raising rates. Huge scam. Every now and then a car gets totalled or stolen and they have to pay up, but how many times have you ever totalled a car or had one stolen?
You are accounting for damage only to YOUR car. If you hit a pedestrian, or a car in a way someone is even *slightly* injured, you will owe *at least* $100k in liabilities. You can always choose not to pay for collision/comprehensive, as that coverage is only for YOUR CAR. But you definitely need liability, property, and UI/UIM coverage.
@@Shamusmusic416 statistically, most people don't hit other people. if *even* 10% of drivers hit other people, insurance companies won't even exist in first place... "Accident" is called "accident" because it can, unfortunately, happen to anyone at anytime. you are traveling normally and a kid runs in front of the car. if you happen to be in an accident that costs $500k and you don't have insurance to settle claim, lawyers will do **ANYTHING** to get the money out of you. **ANYTHING**. Take your property, take a chunk for annual income for 20 years, take your 401k, savings, stocks etc. Also, liability and UI/UIM is cheap af anyways, even for $500k/1M. You can even get a cheap af umbrella to cover on top of these.
@@Shamusmusic416 That's the point of insurance. You don't need it until you do then you'll be grateful you bought it especially if you have capital where people can sue you.
To everyone who thinks insurance companies are a scam, if you think insurance companies charge too much, etc… don’t buy it! “We have to! It’s required by law” - Liability coverage is the only coverage required by law. Carry ONLY liability coverage, set your limits at the lowest you state allows, and don’t pay for those other OPTIONAL coverages. “My car is financed and the bank requires coverage for my car.” - If the financial institution is the one requiring it, sounds like it’s not the insurance company scamming you. Talk with them about that requirement and possibly removing it. If they still require it, then only buy liability (at the very minimum your state allows) and the coverage your financing institution is requiring, nothing else.
I've always want to start my own car insurance company It would not discriminate based on gender, age, where you live, tickets or accidents Liability rates would be based only on the type of the vehicle, safety features, and amount of driving collision would be based only on the value of your vehicle. and comprehensive would be based only on where you park it: Garage, outside parking space, or on the street.
We live in the stupidest country in the world. How can the government fine someone when the insurance company charge high prices that a person can't afford. Who have to park their car, but have to get a find for not having insurance with tag not expired. The insurance companies never get the blame for all the robbery they do.
I’ve been driving for over 20 years and never filed a comprehensive claim. My windshield cracked due to extreme heat in Florida the past couple of months and I filed a claim to have the windshield replaced. Then coincidentally a rock hit my daughters windshield and cracked it, a few months later. In the state of Florida you do not have to pay the deductible if you have comprehensive coverage, for a windshield replacement or repair. So I’m thinking cool a “free” windshield replacement, although I am paying monthly for this coverage. Policy renews and they increase my premiums because I had two claims. This is scammy bullshit. Silly stupid me.
@@Just_Futzing_AroundI would drop the windshield coverage. It’s usually a separate add on and just save the difference per year. Not to mention the massive savings in them not hiking your rate by not having to file a claim for it. It’s better to just set money aside and self cover the windshield yourself in the long run. It’s cheaper.
@@zonk1477 yeah, I’ve got a sinking fund set aside for random things like that. Once I saw the actual costs of the fix and replace, I was like “I should have just paid myself” :/
So you’re telling me if my insurance doesn’t cover someone’s medical bills they can sue me for the rest, yet I’m to pay for higher insurance to cover some reckless uninsured driver? Wtf
It’s messed up but it makes sense. If I was at fault and hurt someone and the hospital bill was $300,000 but I chose to only have $250,000 coverage. Who’s responsible to pay the rest?
@@ThinkInsurancewouldn’t the person have medical insurance. Ain’t no way they are on the hook for the 300k hospital bill. They likely pay only a 10k deductible and health insurance covers the rest. So why are they going after the car insurance provider and then the person of their car insurance caps out say 250k to get another 50k? Or is it there health insurance now going after that person to recoup the money. Or in the case the person has no insurance it’s unlikely they owe the 300k. They simply refuse to pay and hospital sends it to collections. Person has no money so there is nothing they Hospital can do they are the hook for 300k not that person as the hospital will never get 300k from that person. Since the person doesn’t need 300k and since most people get medical for free of their poor through state insurance there simply is no reason they would go after someone for hitting them. Would it just be the Hospital suing the driver to get the 300k? As the patient charged the debt off and isn’t going to collect it. That’s what I don’t understand who’s suing who.
Big time... if you hit someone or someone hit you, they raise your rate.. then they put a negative report on your file with lexis nexis .. biggest scam
Forced car insurance is Completely unconstitutional. 4th amendment guarantees your right to travel. No politician has the authority to force you to buy ANY product or service.
it’s not “forced” at the federal level. it’s state laws that govern these car insurance laws. that’s why it’s actually legal to drive uninsured in Virginia.
Recently I am applying to property & casualty actuarial positions, hence I wanna learn about auto insurance coverages. Your video is really of great help to me, it is interesting how is so different in every state too. Thank you very much!
You’re welcome. I’m glad it was helpful
I want to know for someone with lots of assets over 1M+ heck not sure if we need to further subdivide 5M, 10M, 20M 50M, 100M classes into other categories on what to do. But I guess what coverage limits for car insurance do you need. And which is better to do. Should one go for car insurance that is 500k/1M. Or should they just stick with 250k/500k or 100k/300k and instead go with an umbrella policy with the savings.
Talking with an agent might be a good idea. Doing an umbrella is a better option because it covers more than just car accidents and is not very expensive for the amount of coverage you get
Wow, thank you so much. You explain it so well so simple so exact! Also your video quality(voice/mic/etc') is very good, very pleasantly inviting
Thank you 😊
They will still sue you, but your insurance company will provide an attorney to defend you. The insurance will pay any judgement against you, up to the amount of the $ limit you have chosen. Usually the insurance will pay any excess amount above your policy limit, if that insurance company had the opportunity to settle the matter pre-suit for an amount within your policy limit.
Very helpful video for a complete newbie on car insurance. Thank you very much!
The best video yet! Thank you!
☺️
I recently changed auto insurance from State Farm to Progressive. I went from 50/100 to 30/60 Liability bodily injury coverage in Texas. We are in our 60’s, and doesn’t drive much. Can you give us some advice?
I made a video response for you: ua-cam.com/video/AcLa5SroXfI/v-deo.html I hope this is helpful
Thank you! Great Channel - Great content!! I would recommend showing graphic information (like quote samples) in the video that will really help visual learners like myself.
Thank you 🙏🏼 - I agree, I really should make to more visual.
Thank you! This was incredibly helpful, as were the linked videos.
thank you bro for explaining i gotta get my grind up and start payin off the premiums. and shopping wisely
Hi, I really don't reside in Florida anymore because I'm being stationed in Groton CT. I'm only 19 years old and the only thing im still trying to get at is buying a decent vehicle but I don't have any credit at all whatsoever. I do plan on buying it in cash and making monthly payments for a decent vehicle
Definitely get a credit card and start building your credit score first so you don’t have insane high interest rates on the payments.
Your governor
@TheSuperanimedrawer yo I completely forgot about this, well to update ya I have a 2013 subaru legacy, paid off now, and recently I just got a '13 camaro SS, you were right about the credit card, got one, paid it off (when I could) built good credit and now I'm just having fun. Thank you again for the advice man
@@tryxjay8289nice!
I have full windshield coverage, what if I claim insurance for a windshield replacement, then 3 weeks later a big rock hits it and I need to replace it again, can I just claim it again to get it replaced or do I have to wait a certain time?
Sheeee 🫣. That sucks. Yes you can claim it again, there is no restriction on how long you have to wait if you need to file another claim.
Just make sure with your agent if there will be any impact on your renewal. Sometimes there is none, others times it can affect your renewal or claims free discount if you have one. So what’s best for you
Insurance for teenagers is ridiculous. I checked a couple years ago and it would have been 120 per month, it’s now 67 per month for me since I turned 21
Dude fuck this I’m 21 years old living in Connecticut and they are trying to charge me 300-600 everywhere I look for full coverage and I need full coverage for my fucking finance. Fuck this what are humans supposed to do that don’t have the luxury of a mom or dad to cosign, fuck this shit.
It does not take a genius to realize that teenagers are reckless drivers that think are in Fast and Furious.
It's not that they don't like teenagers, it's all statistics. They have the most accidents, per capita, statistically.
thats its its like 300 her for me in michigan
@@WilsonAbrego your not wrong recently my friends ditch school to do pranks in a mall and they were racing and one of them swerve of the road ( they just swerved off the road on an empty highway soo no one was hurt or arrested , they didn’t flip or crash or anything)
What do you recommend for a 18 year old would it be cheaper to keep insuring with parents or herself ?
It’s almost always cheaper under your parents under age 25, depending on your parents insurance score and history
People in Alabama where there is a mandate on car insurance not many drivers have it. When car insurance agents misuse identities.
that was a very helpful video. Thanks bro
Thank you for the educating videos
So I just bought my first car and need to get insurance. So I was told to do 100/300/100 Because that’s show that I want to protect my assets more showing I’m a responsible driver. I’m not sure what all those numbers and shit really mean. Based off the video and what I heard, they are just the amounts that will cover you and other people in an accident. Anyway I live in Maryland. I’m just super stressed because New Jersey messed the title up and put 270k miles instead of 207k and I’m worried the odometer got pushed. But NJ says it’s a clean title. Idk I’m just stressing about nothing which is making it impossible for me to worry about my insurance. Also would you think it’d be best for me to get a plan with my mom on her already existing one or start my new, own insurance? I’m just so young and dumb and don’t know anything cause we never get taught in school about this. I don’t want to end up fucking myself over when I’m young cause I didn’t know any better. I was going to call progressive, Geico, and all state. Those are the three I got so far.. any more recommendations or advice y’all could give me would be very very much appreciated.
Cost wise it’s most likely less expensive under you mom. That’s what I would do if it is an option. It can’t hurt to get a quote from Geico to see.
Yes the Liability limits are coverage you carry for others if you hurt them. 100/300 = $100,000 per person up to $300,000 per accident. $100,000 for property damage if you are at fault and damage someone’s car/property.
Thank you! really helpful.
Hi Mark. Thank you for the educating videos! I'm 26 years old and planning to have a new 2021 Honda Insight (this is gonna be my first car since I just relocated to the US). I now live in Fremont, CA. What are the best options I have, Mark?
This was super helpful. Thank you.
Hello. What insurance do you recommend for Virginia????
I had just come over railroad tracks and was driving accross the street that ran parallel to the tracks. A person stopped on that street then left her stop sign and ran into my car, she admitted she caused the accident in the police report. I told my provider, they told me that since I had liability insurance I was on my own and they would not talk to me. The other drivers insurance compamy kept blaming me for the accident and told me to get lost. It took me a month and a half before I got my car to the repair shop.
I can tell you from experience that if you do not have a name brand/reputable insurance company and opt for for a 3rd rate insurance company instead, when it comes to a claim and you have to deal with that 3rd rate insurance company, it’s a nightmare. Better off paying a little more for a reputable company.
How long does a dui typically affect rates? Do the rates gradually go down as the years go by or is it a set time before a rate drop?
In most states 7-10 years
Great video! Is there a video that recommends an insurance for people that work from home?
thanks you 🙏🏼. I can’t recall if I did make a work from home video. The main part is if you’re driving less miles, let your insurance know. It might save you some $
what if i hit the deer and then hit the rail gaurd what coverage would be applicable
will it be collision or comprehensive?
In most cases it will be considered a collision. There's a saying, when in doubt, take Bambi out. That's because if you hit the deer it's comprehensive, if you swerve and hit the guard rail, it turns into a collision.
Ultimately it's up to the adjuster but that's how the majority of policies will handle this.
@@ThinkInsurance thanks you for inputs
THANK YOU FOR THIS!!!!
Great video! I understand that reporting a claim does have an impact in the policy premium. Although does is affect the same way when it is at fault versus not at fault?
No. At fault raises the risk considerably higher than not at fault when it comes to auto claims
Great video…I learn so much. I’m from Bronx, NY someone hit my parked car in the street and damaged the tire, door and mirror. I only have liability should I contact my insurance, do they help fixing the damage. One more thing, can I request to see security surveillance from a shelter in front of where they hit my car because I don’t know who hit my car. Any reply would be greatly appreciated🙏🏻
If you don’t have Comprehensive and/or Collision or, uninsured motorist property damage, then there’s not much your insurance can do. It could hurt to ask for the surveillance footage but I personally would notify my insurance, especially, since there’s nothing they can help with.
@@ThinkInsurance ...Thank you for your reply, it means so much to me. Have a great day🙏
May i ask in Oklahoma my insurance told me i dont need Un-insured motorist ... i got high courage with everything else. Ii have always been told to get Un-insured motorist
I don’t understand why they would say you don’t need uninsured motorist? If given the option, I personally would add it.
@@ThinkInsurance Thank U I think so to with all people coming here with no insurance or knowing how to drive very good . Need classes
Which car insurance do you think is best(cheap but good) for North Carolina?
Geico and Farm Bureau are two I would consider in NC
What's the insurance to go with in Cali?
Wawanesa and Grange are two to look into
Thanks for your video.
But I have few questions here.
1. If someone else drives our vehicle who is not listed on Policy will insurance company pay for Expenses of both driver and vehicle.
2. If someone else drives our car and driver is not listed on Policy but have insurance with other company , which company will pay for the claims.
3. If you drive someone else car where that car doesn't have an insurance but you have insurance for your vehicle , so during accident will our own insurance company for injuries done to me
4. I'd our insurance company pay for under insured expenses, will my insurance company sue the under insured insurance company?
You’re better off calling your agent and getting specifics. I can only tell you what is typical because I don’t have your policy to look at.
In most cases, unless excluded, or specific stated, insurance allows permissible use which is a friend driving your car. They would get the same coverage as if you were driving.
If they’re liable for the accident, your insurance may pay first but likely have your friends insurance repay them.
It is illegal and negligent to drive a car without insurance which may cause you to be denied coverage. Most of the time, you and/or your insurance be sued and sometimes they pay to avoid it.
Yes, your insurance may and likely will go after the un/underinsured driver via subrogation
@@ThinkInsurance Thank you so much.. almost sorted
Thank you this is helpful Video.
You’re welcome
Hey Mark really liked the video. I had a few questions and was wondering if I would be able to call you and ask you a few if you had a moment to spare. I’m turning 25 in March and currently looking for a new insurance company while writing this. I’m not sure exactly what route to take and what coverage I would necessarily need. The videos have been very helpful and I understand the main basic concepts for auto insurance but like I said I just have a few questions. I would appreciate it if it was possible to talk with you over phone. Please let me know if it’s possible ?
What state are you in?
Colorado
American National, Geico and Farm Bureau are three I would check with in Colorado
@@ThinkInsurance What about NY
What’s the best insurance to go with in Pennsylvannia
Since car insurance is mandatory, it should be tax deductible.
Appreciate all the info you are providing in this video. I've been looking into car insurance more recently because my wife just got into a bit of an accident that was at fault, but no other car was involved. We have had progressive for the past 4-5 years and they've been great, I'm wondering if you'd recommend looking at anything else for the state of Maine? That's were we are located right now.
Also maybe a slightly unrelated question but I haven't been able to find a good answer - typically when you have $3-7k in damages that need to be repaired how much does your insurance premium go up? Is it double your current premium? 20% more? Just looking for a ball park number. Does the amount you spent on the fixes/repairs contribute to how much the next 6 month premium goes up or not?
Thanks for any insights you can provide!
Thanks for the comments. I’m glad I’ve been helpful. It’s hard to say accurately how much it will go up since each state and company have their own rules but in most cases 15-20% seems typical. In Maine it tends to jump more than that.
Also keep in mind the length. Some companies only go back 3 years vs 5. In 3 years you may be better of switching if the time comes.
@@ThinkInsurance Incredible. Thank you for your thoughts here. That's not too bad of a jump. Obviously we will see what actually happens but it's nice to know.
And great info about switching potentially.
Keep up the great content, learned a lot from your videos so far! The other things that are hard to wrap my head around are health insurance, dental etc. and how that all works and what's the best options at the best prices!
Nice video!
Great tips Mark. Keep it up ✌
My car value is $2500 it’s a 2010 ford focus with 205,000 miles on it is it worth it to get collision insurance add to my policy
It’s your call to what you’re willing to pay but If that’s the value, I personally would not carry it unless the additional cost was less than $80/month.
If you can afford to replace it then it’s worth checking out if you would carry collision.
@@ThinkInsurance thanks is actually $75 more monthly with $500 out of pocket
Cheapest and best for Massachusetts?
What happens if my car insurance ended2 months before I got into an accident hit 3 parked cars. But I had renters insurance
Your renters policy likely has liability coverage but it likely excludes negligence. If you drove without insurance, I expect it won’t protect you.
You need an auto policy to cover your liability and property damage for that situation
great video. World class
Good Evening, Hello I love your video very helpful! I was wondering what's the best insurance I should choose living in Virginia? I'm new to all this.
Thank you. I recently did a “best home insurance in Virginia” video.
If you want to talk to someone, a partner of mine, Devin, can help. If you fill out the quote form in the description, that will send him your contact info.
So let’s say someone without insurance hits you and you need to go to the doctor, what covers that? From what I understand uninsured liability covers your vehicle not your health costs, so what covers your medical costs? Collision?
Uninsured motorist bodily injury is the coverage you’re looking for
What insurance do you recommend i go with here in Las Vegas? I will be getting a brand new 4 runner and shopping around for insurance. Got a quote from AAA. I'm new to Vegas. Thank you for the great video.
You can buy a 2015 4 runner. Youre welcome
Went with the 22 4 runner.
The Low limits for insurance is just flat out stupid !!! I make sure I have high coverage on all our auto's . The way people have been for at least the last decade or longer , people are seriously sue happy and will always try to sue you for more than everything you have and then some !!! Also make darn sure you have a dash-cam in everyone of your vehicle's , very important !!!!!! Today's vehicle's are quite expensive on new cheap vehicle's and ridiculous for the majority of vehicle's !! Also people get high priced Lawyer's or Attorneys to get everything you have and more of what you don't already have !!! It only takes one accident and you're broke for life !!! They will garnish or take all the money you earn in the future too !!! If you have a good or great driving record and are older , the high coverage insurance is really not bad at all . To protect your driving record is to have a dash-cam !!! To prove your innocence as it has saved us big time from scammers !!! People these days Can't drive worth a darn and are out to get you !!! I don't and won't drive or own anything brand new , relatively new or high priced vehicle's as that makes you a Freaken target !!!! They Are Out To Get You These Days !!!
Great advice, especially regarding dash cams. They cost less than 100 dollars and can possibly save you a lifetime of financial ruin.
Hi there, Mark! Thanks for the informative video. I went ahead and subscribed to your channel. I'm 24 and will be turning 25 in the summer. I'm in the process of moving from Illinois to Florida. I'm realizing how expensive FL car insurance is and trying to understand what coverage I actually need. I have a clean driving record, except for a speeding ticket I got several years ago. This May, the speeding ticket will be 3 years old and hopefully will no longer impact my insurance rates. Do you have any auto insurance company recommendations based on my situation? Any other advice you have would also be helpful. I really appreciate your time!
Thanks for reaching out. I have a video on my channel about FL. Two companies I would check are State Farm and Allstate.
@@ThinkInsurance What about NY
I’m NY, I would look at Main Street America and Progressive to start
interesting..thanks for sharing.
Thank you.
You're welcome. I'm glad this was helpful
Thanks
What is the difference of Michigan PIP versus PIP in any other state?
Actually more specifically, what happens when someone gets seriously injured in a car accident in Ohio versus Michigan?
In OH they don’t have PIP. They do med pay which is usually no more than $10,000 per person if they carry it at all.
They default heavily on their BI limits
Pay attention it well help You Thanks for your tips
🙏🏼
what insurance is the cheapest for a 18 year old pennsalvania no parent
Travelers and American National are two companies I would look at.
What's the best car insurance in the state New Jersey to have.
I would check into Geico and State Farm in NJ
*Best cheap insurance for nyc 2022?*
Yes, age does matter. Mainstreet America and Progressive are two I would look at in NY
A 15 years old car, is it worth to cover it for both sides?
If by both sides you mean comprehensive and Collision, I personally wouldn’t do it, depending on the value of the car.
2009 or older I start to question if it’s worth having comprehensive and collision. Used cars are worth more today than they were before you would want to research the value of your car and decide if it’s worth the extra cost to you.
@@ThinkInsurance Where can I look for value of my vehicule?
Nada.com and kbb.com are what most insurance companies compare. Also local dealerships for how much they would sell your car.
Great video
When people talk about "liability," is that Bodily Injury and Property Damage ?
Yes. It’s what you’re liable for you hurt someone or damage their car.
Hi. Thanks for all the info you providing.
Can you please answer my question?
If you have an accident and assume that its your fault, would you pay $800- $900 from your pocket for the cost of damage of other's car? Or would you just claim it to your insurance?
It has recenly happened to me and I have no idea if i just pay cash or go with insurance. The other person said he would have his car doors replaced which would cost about $2000-$2500 if we go with insurance.
The auto shop that i know says that they can fix the damage with the price only if i pay cash and the other person said it is up to me whether i pay cash or go with insurance to fix his car. He said he would be okay as long as the damage of his car repaired well.
Do you think...... Paying cash is better? Or JUST go with insurance?
And my car has some dent as well and if my cars' damage repaired by insurance, do i need to pay the deductible as its most likely my fault? And it affects my premium?
Please answer your opinion!
THANK YOU SO MUCH.
If this is your first occurrence in the past 5 years I would find out if your insurance plan includes accident forgiveness. If so and you have a clean history, I would file the claim.
If you’ve had multiple claims then I personally would consider paying it out of pocket. It’s hard to give you an exact answer since each state is different and your history etc…
Personally I would lean towards filing a claim if it’s someone you don’t know and they mentioned replacing the doors. They could potentially go after your insurance later saying it wasn’t repaired properly then you’re stuck with both problems.
You’re only going to pay the deductible if you’re repairing your car, not the other persons.
it very helpul
Sir, good channel but, I was a State Farm insurance customer for over 35 years and State Farm Insurance cut Me. The reason being too many claims on roadside request.
Now, every auto insurance Company I change to, the first six months are fine than the last six months of the year they increase my rates. I had check with All State insurance on my Zip code regarding accidents. The red zone!!! E-commerce and Rideshare drivers! This is only my opinion. Larry
thsnk you!
People drive with no insurance in Texas and you can't sue them.
It's all a scam. Let's use averages here and say you own a car for 10 years and have paid 200 dollars a month for insurance. You have paid nearly 25 grand to an insurance company. Let's say you do have an incident, well even though you have given them all those thousands of dollars, they will still raise your rate after an incident and charge you a deductible. I've given the same insurance company nearly 50 000 dollars in my life time so far for vehicles and in that period have made 2 claims not totalling 5 grand in damage, yet the rates will go up the second I have to use a sliver of that money. So they bag nearly 50 grand and I'm essentially paying for the incident slowly with more money via them raising rates. Huge scam. Every now and then a car gets totalled or stolen and they have to pay up, but how many times have you ever totalled a car or had one stolen?
You are accounting for damage only to YOUR car. If you hit a pedestrian, or a car in a way someone is even *slightly* injured, you will owe *at least* $100k in liabilities. You can always choose not to pay for collision/comprehensive, as that coverage is only for YOUR CAR. But you definitely need liability, property, and UI/UIM coverage.
@@adityapatel9735 ya... you're right, but how many people have you hit in a life time
@@Shamusmusic416 statistically, most people don't hit other people. if *even* 10% of drivers hit other people, insurance companies won't even exist in first place...
"Accident" is called "accident" because it can, unfortunately, happen to anyone at anytime. you are traveling normally and a kid runs in front of the car. if you happen to be in an accident that costs $500k and you don't have insurance to settle claim, lawyers will do **ANYTHING** to get the money out of you. **ANYTHING**. Take your property, take a chunk for annual income for 20 years, take your 401k, savings, stocks etc.
Also, liability and UI/UIM is cheap af anyways, even for $500k/1M. You can even get a cheap af umbrella to cover on top of these.
@@Shamusmusic416 That's the point of insurance. You don't need it until you do then you'll be grateful you bought it especially if you have capital where people can sue you.
@@TheDongTran1 right, but when you need it to fix your car, your rates go up, and you just slowly pay for the damage. That's the scam.
Good video
Thanks
thank you
You’re welcome
RIP Bamby
The reason people don't get car insurance in Alabama is they don't want to register Vin numbers for switched license plates on cars.
What insurance do you recommend in Missouri?
Easiest way is to check Cover in the description
very goood
When in doubt, take Bambi out 😂
I live In Louisiana 45 years old looking for auto and home insurance
To everyone who thinks insurance companies are a scam, if you think insurance companies charge too much, etc… don’t buy it!
“We have to! It’s required by law” - Liability coverage is the only coverage required by law. Carry ONLY liability coverage, set your limits at the lowest you state allows, and don’t pay for those other OPTIONAL coverages.
“My car is financed and the bank requires coverage for my car.” - If the financial institution is the one requiring it, sounds like it’s not the insurance company scamming you. Talk with them about that requirement and possibly removing it. If they still require it, then only buy liability (at the very minimum your state allows) and the coverage your financing institution is requiring, nothing else.
Are you typically able to get Comprehensive without Collision?
Yes
we should pay a flat tax to the government for a universal insurance. Done
nice
good
Arizona!
??
nice viedo
I've always want to start my own car insurance company
It would not discriminate based on gender, age, where you live, tickets or accidents
Liability rates would be based only on the type of the vehicle, safety features, and amount of driving
collision would be based only on the value of your vehicle.
and comprehensive would be based only on where you park it: Garage, outside parking space, or on the street.
Pls do it I’ll get ur insurance and not these stealing thieves insurance
Hello sir, I looking Car Insurances
I am retired,I don't owe on my home or 2 cars ,I. Am 71. Any discounts?
I have a discount video you can watch and a video for older driver.
The REASON people buy insurance is because it's required by law. Not because it protects. It doesn't protect at all.
😂
We live in the stupidest country in the world. How can the government fine someone when the insurance company charge high prices that a person can't afford. Who have to park their car, but have to get a find for not having insurance with tag not expired. The insurance companies never get the blame for all the robbery they do.
How I'm still paying 100s of dollars a month and i don't got any accidents on my record
I’ve been driving for over 20 years and never filed a comprehensive claim. My windshield cracked due to extreme heat in Florida the past couple of months and I filed a claim to have the windshield replaced. Then coincidentally a rock hit my daughters windshield and cracked it, a few months later. In the state of Florida you do not have to pay the deductible if you have comprehensive coverage, for a windshield replacement or repair.
So I’m thinking cool a “free” windshield replacement, although I am paying monthly for this coverage. Policy renews and they increase my premiums because I had two claims. This is scammy bullshit.
Silly stupid me.
@@Just_Futzing_AroundI would drop the windshield coverage. It’s usually a separate add on and just save the difference per year. Not to mention the massive savings in them not hiking your rate by not having to file a claim for it. It’s better to just set money aside and self cover the windshield yourself in the long run. It’s cheaper.
@@zonk1477 yeah, I’ve got a sinking fund set aside for random things like that. Once I saw the actual costs of the fix and replace, I was like “I should have just paid myself” :/
I pay 310 dollars a month for car insurance. I don’t know why.
9:59 …, that’s some moon knight stuff right there (proceeds to accelerate).
Yes, You insure your car for 60K somehow the insurance will pay you only 20K if is totaled. Argue wear ant tear and age of the vehicle.
this is not easy to follow at all
If you get into a car accident and you don't have insurance you should be tarred and feathered😊........
Just kidding💫❤
❤❤❤ty
🙏
So you’re telling me if my insurance doesn’t cover someone’s medical bills they can sue me for the rest, yet I’m to pay for higher insurance to cover some reckless uninsured driver? Wtf
It’s messed up but it makes sense. If I was at fault and hurt someone and the hospital bill was $300,000 but I chose to only have $250,000 coverage. Who’s responsible to pay the rest?
@@ThinkInsurancewouldn’t the person have medical insurance. Ain’t no way they are on the hook for the 300k hospital bill. They likely pay only a 10k deductible and health insurance covers the rest. So why are they going after the car insurance provider and then the person of their car insurance caps out say 250k to get another 50k? Or is it there health insurance now going after that person to recoup the money. Or in the case the person has no insurance it’s unlikely they owe the 300k. They simply refuse to pay and hospital sends it to collections. Person has no money so there is nothing they Hospital can do they are the hook for 300k not that person as the hospital will never get 300k from that person. Since the person doesn’t need 300k and since most people get medical for free of their poor through state insurance there simply is no reason they would go after someone for hitting them. Would it just be the Hospital suing the driver to get the 300k? As the patient charged the debt off and isn’t going to collect it. That’s what I don’t understand who’s suing who.
If a world wide plague happens, is that an act of God so it is covered by my car insurance?
If the plague affects your car, yes
I probably retained 5% of this info lol
That means you have to watch it 20 more time 😉
@@ThinkInsurance ok I’ll get the popcorn 😉
Homestyle popcorn is the best!! 🍿
@@ThinkInsurance really? I’ve never tried homestyle popcorn 🧐
I’m obsessed with that style of popcorn 🤗
👍
part 2 wq
ok ok...
It was all good until you said full coverage. That is not an actual coverage🤣
???
They charge too much for insurance
it's a scam...
@@deyanideydreamingBreak up FICO!
Big time... if you hit someone or someone hit you, they raise your rate.. then they put a negative report on your file with lexis nexis .. biggest scam
My friend in Spain pays $400 euro a year for insurance
Forced car insurance is Completely unconstitutional. 4th amendment guarantees your right to travel. No politician has the authority to force you to buy ANY product or service.
what an we do about it? real Q.
@@deyanideydreaming not a damn thing because it’s a business and businesses want money.
it’s not “forced” at the federal level. it’s state laws that govern these car insurance laws. that’s why it’s actually legal to drive uninsured in Virginia.