Car Insurance by the Hour

[Theinquisition]

Its Cubans >.> #1 on fraudulent claims and staged accidents. Funniest thing is I work at car insurance now so i get to hear all about their shenanigans.

The conpany i work for does insure in FL, but excludes many zip codes, especially in dade county. Partially because of fraud partially because of comprehensive claims from storm damage.

[Maletalana]

$150!?! wow thats a lot.

2013 Ford Focus for me is $65 a month.

I'm 23
10char

[Annoying]

I'm 23
10char

2 more years and it should go down, assuming no crazy citations or accidents. 25 is the normal time for when insurance drops lower.

[TZucchini]

I sell insurance (P&C, life, health and broker specialty lines) for a living.

It's not so much driving time as it is miles driven that factors into your insurance rate, most companies have low mileage rates, but don't tell you unless you voluntarily volunteer information that places you within the limitations, most companies that limit is 7500 miles a year considering the average american drives 10-13k miles a year.

As far as the OP goes, thats not a horrible price, although it's not great either.

Same! I own an independent agency. Though we're 100% commercial, strictly P&C.

Telematics will definitely be a requirement in the future. It's already mandatory for any towing risk that I write.

[Theinquisition]

Same! I own an independent agency. Though we're 100% commercial, strictly P&C.

Telematics will definitely be a requirement in the future. It's already mandatory for any towing risk that I write.

Completely understandable. I encourage it with my policyholders but cant technically make it a requirement.

[Maletalana]

2 more years and it should go down, assuming no crazy citations or accidents. 25 is the normal time for when insurance drops lower.

Yeah I'm excited. Also Male, which probably contributes. I don't have any at-fault accidents on my record too.

I'm thinking about shopping for better Insurance though, with State Farm now.

Anyone here use USAA?

[Orlong]

You wouldnt want hourly insurance coverage for only when you drive because when youre not driving you can still have your car damaged by weather, falling trees, uninsured drivers, asteroids, vandals, etc... that you need to be covered for

[Ayla]

You wouldnt want hourly insurance coverage for only when you drive because when youre not driving you can still have your car damaged by weather, falling trees, uninsured drivers, asteroids, vandals, etc... that you need to be covered for

Where I come from such coverage is optional. Most people I believe decline it (except uninsured drivers)

[Holofernes]

one big question: why the fuck do you use a car for 3 miles to work? walk, use a bike, a skateboard, or even a moped if u are extremely lazy. Lol. U think so much about sparing insurance money for a car that u dont even need.

[Theinquisition]

Yeah I'm excited. Also Male, which probably contributes. I don't have any at-fault accidents on my record too.

I'm thinking about shopping for better Insurance though, with State Farm now.

Anyone here use USAA?

Im with USAA. Its awesome

[Lucetia]

$150!?! wow thats a lot.

2013 Ford Focus for me is $65 a month.

$150 does sound like a lot. *I know on ours we have a 2016 Ford Fusion and 2003 Dodge Neon and it still only hits at ~140, but a lot of that is because the 2016 has to have all the bells and whistles for insurance.

[Kathandira]

http://www.ibtimes.com/car-insurance...ervice-2481321

I drive my car about 3 miles to work in the morning, if I got home for lunch then add 6 (there and back), then 3 miles to get home. I rarely go out besides getting groceries or other tasks, so I feel that monthly, I drive maybe 265 miles a month, adding ~25 extra for special cases.

Time spent driving, maybe 5 min per trip between home and work, so average of 20-25 minutes per day. (In love with how close I work to my house)

To be safe, 25 min * 5 weekdays * 4 wks/mo = 500 minutes per month spent driving

fingers crossed my math checks out:

500 min/mo = 8 1/3 hrs/mo
cost per hour is 1.7 pounds/hr
1.7 * 8 1/3 hrs/mo = 14.16667 pounds/mo
14.16667 pounds = $17.90.
Service fee is roughly 20 pounds, or $25.25 /mo

fee+rate = $43.15 a month for car insurance. compared to currently, $150.

I drive a 2013 Toyota Camry.

Sounds great if you ask me! However that's because I drive so little.

inb4 cherry-picked $ value, I'm just trying to estimate the value of coverage. I'm sure it would be different if this service were available in the US. Yes, this is all speculation.

All things considered, what do yall think?

I want to see Car insurance payments end, when the value of the vehicle has been met. I can explain how it would work, but I really don't have the time atm. But it can realistically be done.

[Theinquisition]

Yeah I'm excited. Also Male, which probably contributes. I don't have any at-fault accidents on my record too.

I'm thinking about shopping for better Insurance though, with State Farm now.

Anyone here use USAA?

Statefarm is great if you have a good driving record and above the age of 25. A history of insurance and good crrdit help a lot too.

- - - Updated - - -

I want to see Car insurance payments end, when the value of the vehicle has been met. I can explain how it would work, but I really don't have the time atm. But it can realistically be done.

Car insurance isnt just for your vehicles value, it protects the other partys car if your at fault snd keeps you from getting sued for medical bills.

- - - Updated - - -

$150 does sound like a lot. *I know on ours we have a 2016 Ford Fusion and 2003 Dodge Neon and it still only hits at ~140, but a lot of that is because the 2016 has to have all the bells and whistles for insurance.

You probably have a good driving record and credit.

[Tinykong]

People are paying out the ass for insurance.

Both of my vehicles, a 2015 4 door and a 2009 Minivan are $83 combined.

[Theinquisition]

People are paying out the ass for insurance.

Both of my vehicles, a 2015 4 door and a 2009 Minivan are $83 combined.

With insurance, like most other things, you get what you pay for.

If you have super cheap rates with a smaller company, they may not pay out on your claim in a way that leaves you satisfied.

[Tinykong]

With insurance, like most other things, you get what you pay for.

If you have super cheap rates with a smaller company, they may not pay out on your claim in a way that leaves you satisfied.

I have full coverage from Geico, 100/300/100 with $0 deductible.

[Vash The Stampede]

I have 2 cars, one full coverage and one liability, I pay 188 a month in NJ.

02 Corvette I pay $76 per month with collision. Also NJ. The secret is to not deal with insurance agent as they always want you to pay for more. Do it online.

[Orlong]

Where I come from such coverage is optional. Most people I believe decline it (except uninsured drivers)

Its mandatory unless you dont owe any money on the car. The lender will always require it be covered. And if the car is paid off and you own it outright, if it has any decent value, you would be a fool not to insure it against damage

[Kathandira]

Car insurance isnt just for your vehicles value, it protects the other partys car if your at fault snd keeps you from getting sued for medical bills.

Personally, I never agreed with my insurance paying for other people's medical bills, or their auto repairs. But that is just my opinion.

- - - Updated - - -

People are paying out the ass for insurance.

Both of my vehicles, a 2015 4 door and a 2009 Minivan are $83 combined.

I pay $160 a month for a 2013 Hyundai Elantra.

I really do hate living in NJ for financial reasons.

[TZucchini]

Personally, I never agreed with my insurance paying for other people's medical bills, or their auto repairs. But that is just my opinion.

If you negligently cause harm to another party, why shouldn't you owe them restitution?