Is full coverage for gen 1 stuiped?
- Thread starter 1morebike
- Start date
PirateMcGee
Expedition Leader
The title cracks me up. You can get additional covereage on a vehicle through some insurance companies. Just call and ask.
jeep-N-montero
Expedition Leader
I have full coverage on all 5 of our cars and both of our boats, too many idiots and transients without insurance on the roads to not have it. Main question to ask yourself is if the extra $20-30 per month is worth saving you from exhausting all of your assets to pay bills in the event of an accident, pretty sure your answer is yes.
ManfromSnowyRiver
Explorer
So a couple of thoughts. First full coverage is not a huge price difference as it once was, second if you are adding thousands in upgrades to the rig for off-road its worth insuring. I have an extra 5K tacked on to mine even.
It's not as simple as adding full coverage on an older vehicle, and expecting it to cover all the new parts/accessories/upgrades you do to it. Actually the same can be said of newer vehicles as well. Total it and your insurance company is going to look at book value, which won't get you two turds for your aluminess bumper, roll cage, and bed full of led lights. You'll want to look at a policy that has an agreed upon value, and then decide if that cost is worth it to you.
It's not as simple as insuring a more or less box stock vehicle.
It's not as simple as insuring a more or less box stock vehicle.
Toasty
Looking for that thing i just had in my hand...
I have full coverage on all my rigs, one tip though... If you total your rig or it gets stolen they will attempt at giving you $500 for your old Montero SO be sure to document all your upgrades and upkeep, you can even use your build thread against your adjustment. Even if they only pay out lets say $3,500 for a Montero that you put $8500 into it's a lot better than the $500. The second benefit of running full comprehensive coverage instead of the minimum liability is that you get glass coverage with no deductible typically, with as inexpensive as it is to insure a Montero with comprehensive if you have one windshield replaced it will likely have been the difference you will have paid that year or even two years.
jeep-N-montero
Expedition Leader
Depends on your insurance company/policy, I have had 2 vehicles totaled and both had aftermarket parts that were added to the estimated value of the vehicle that bumped the check up about 20% higher than high retail book value, kept the vehicle and the money.
2025 deleted member
Well-known member
It depends. You need to insure what you cant easily replace yourself, plus a lot of times extra insurance is super cheap. I would probably have an umbrella also if you have anything to protect.
The $5,000 was just in maintenance to get in decent running condition. I don't expect to get that back. That's what I'm thinking. I hit deer a few weeks ago, and had my window smashed before that I didn't bother to try and claim them. I'm thinking if I total this thing tomorrow I'll get $500 for it.
your facts are mistaken, do you work in insurance claims?
Here are some actual facts...
my wife works in insurance claims for one of the major insurance companies in the US
this insurance company absolutely covers your aftermarket parts/upgrades (tires, bumpers, etc) in the event of a total loss, they will ask you for proof via receipts, if you cant find them and are insistent they will take your word for it. The upgrades are prorated into the total loss value.
these are my wifes words not my own, obviously she can only speak for the company she works for, who knows if every ins company is like that
Perhaps you were speaking about a different ins company or you had an experience where they wouldnt cover aftermarket parts, but then you statement should reflect that and not sound like all ins companies are like that...because for my wifes ins company, it is as "simple" as that.
Swank Force One
Adventurer
If it were really that simple industry-wide, i wouldnt be in week 11 of dealing with a total loss claim of my XJ with Founder's Insurance.
huachuca
Adventurer
.......three types of automobile insurance coverage offered for the total loss of your vehicle: Actual Cash Value (ACV), Stated Value, and Agreed Value. ACV coverage is what insures most everyday cars and pays out a depreciated 'book' value in the event of a claim; the older a car is on an ACV policy, the less value it has. Some insurance companies offer Stated Value policies for collectibles. These policies are better than ACV because they allow you to 'state' a value for your vehicle that is greater than its depreciated 'book' value. But, Stated Value can still depreciate vehicles because the policies generally require the insurance company only to pay up to the 'stated' amount. Only Agreed Value insurance policies guarantee you will get all of your money back in the event of a total loss.
Best advice is to talk with your agent, find out exactly what coverage you have for the premium you're paying and make sure that's documented in your policy.
Best advice is to talk with your agent, find out exactly what coverage you have for the premium you're paying and make sure that's documented in your policy.
hence the part..."for my wifes ins company, it is as simple as that"
never claimed it was that simple indusry-wide, only that there are major ins companies that it is
JohnnyBfromPeoria
I'm Getting Around To It
People toss the term "full coverage" around like it's as simple as checking that non-existent box on a form and initialing the change. There are several different segments of coverage that insure you in different ways. Basic liability insurance is usually what's needed to legally drive a car and it also has three parts to it, hence the three numbers like 100/300/100, and it means, in this example $100,000 per person you affect, $300,000 total to people you affect and $100,000 in property damage of those you affect. It doesn't do squat for you except keeping you from getting sued for up to those amounts. If you're a homeowner or someone with substantial assets, make those number big.
Additional coverage includes comprehensive, and you can usually add no-deductible glass coverage. Now, your insurance company probably won't allow you to claim under comprehensive if someone slams a car into yours (that would be collision coverage), but they would cover under comp if a tree fell on it, or let's say, someone tosses a propane cylinder into a campfire and it blows up, sending a log-missile through your back window (as happened to me). Your insurance company will probably suggest that you carry a high deductible to save you money. I don't subscribe to that theory, since I have asked them to quote me the difference between a $100, $500 and $1,000 deductible and it didn't make sense to me, and so I have a tiny $100 deductible on all of mine, with the window glass at zero deduct.
Collision coverage covers your vehicle in the event of a, well, collision, or as I said above, if your parked car is determined to have been hit by another vehicle (that part pisses me off; I think that should be comprehensive). The issue of ACV, SCV, etc was covered in the post above mine and is worth understanding. You might also want to do some research yourself into the term "diminished value" to understand what happens when you have a vehicle repaired after an accident. This coverage becomes less sensible as a vehicle ages, since it is somewhat costly and your vehicle becomes worth less in their eyes. Deductibles also can be selected at various levels for collision coverage.
Medical coverage for yourself and your passengers. They can sue you if they don't have insurance and they get hurt in or because of your vehicle. Sometimes a homeowners umbrella policy can protect you from passenger's lawsuits against you, see your insurance professional to clarify that. I do not carry this coverage.
Underinsured motorist coverage. Your insurance company picks up where the other person's cheesy coverage runs out. Pretty reasonable cost for this coverage.
Uninsured motorist coverage. Your insurance pays for their complete lack of being an upright citizen and actually buying insurance in the first place. If you live in AZ, where it seems like half of everybody on the road is somehow uninsured, and they somehow get away with it, I'd call this one a no-brainer.
Roadside assistance or towing. Reimburses you for a tow you had to pay for, etc.
Rental car 1 and 2. Differing levels of reimbursement for needing a rental car while your car is being repaired due to an insured claim. This is not coverage for a car you rent on vacation. Your regular policy almost always covers that, and the credit card you use to rent the car on vacation may also offer some coverage as well. I don't carry this coverage, since I have several vehicles. Sometimes more than one of them actually run.
So, ask your buddy what he means by "full coverage" the next time the subject comes up. There are most certainly other coverages available that I didn't remember, and you may or may not want or need all the ones I did or did not list. Be informed, ask your agent questions and make them quote you policies with different deductibles so you can really see if the savings they are pushing make sense to you. Heck, if a guy who repairs appliances (me) can spout this much nonsense about insurance, it probably means I took a little time to investigate what it is that I'm paying SO much money for every month.
John B.
Additional coverage includes comprehensive, and you can usually add no-deductible glass coverage. Now, your insurance company probably won't allow you to claim under comprehensive if someone slams a car into yours (that would be collision coverage), but they would cover under comp if a tree fell on it, or let's say, someone tosses a propane cylinder into a campfire and it blows up, sending a log-missile through your back window (as happened to me). Your insurance company will probably suggest that you carry a high deductible to save you money. I don't subscribe to that theory, since I have asked them to quote me the difference between a $100, $500 and $1,000 deductible and it didn't make sense to me, and so I have a tiny $100 deductible on all of mine, with the window glass at zero deduct.
Collision coverage covers your vehicle in the event of a, well, collision, or as I said above, if your parked car is determined to have been hit by another vehicle (that part pisses me off; I think that should be comprehensive). The issue of ACV, SCV, etc was covered in the post above mine and is worth understanding. You might also want to do some research yourself into the term "diminished value" to understand what happens when you have a vehicle repaired after an accident. This coverage becomes less sensible as a vehicle ages, since it is somewhat costly and your vehicle becomes worth less in their eyes. Deductibles also can be selected at various levels for collision coverage.
Medical coverage for yourself and your passengers. They can sue you if they don't have insurance and they get hurt in or because of your vehicle. Sometimes a homeowners umbrella policy can protect you from passenger's lawsuits against you, see your insurance professional to clarify that. I do not carry this coverage.
Underinsured motorist coverage. Your insurance company picks up where the other person's cheesy coverage runs out. Pretty reasonable cost for this coverage.
Uninsured motorist coverage. Your insurance pays for their complete lack of being an upright citizen and actually buying insurance in the first place. If you live in AZ, where it seems like half of everybody on the road is somehow uninsured, and they somehow get away with it, I'd call this one a no-brainer.
Roadside assistance or towing. Reimburses you for a tow you had to pay for, etc.
Rental car 1 and 2. Differing levels of reimbursement for needing a rental car while your car is being repaired due to an insured claim. This is not coverage for a car you rent on vacation. Your regular policy almost always covers that, and the credit card you use to rent the car on vacation may also offer some coverage as well. I don't carry this coverage, since I have several vehicles. Sometimes more than one of them actually run.
So, ask your buddy what he means by "full coverage" the next time the subject comes up. There are most certainly other coverages available that I didn't remember, and you may or may not want or need all the ones I did or did not list. Be informed, ask your agent questions and make them quote you policies with different deductibles so you can really see if the savings they are pushing make sense to you. Heck, if a guy who repairs appliances (me) can spout this much nonsense about insurance, it probably means I took a little time to investigate what it is that I'm paying SO much money for every month.
John B.