Who do you get in surance through
08-05-2005, 09:13 AM
#32
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Location: San Diego, CA
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I mentioned this in another thread, but I do something kind of interesting with my insurance:
I have 21st Century...
I increased my collision and comprehensive deductibles to $1000 and then took the difference in the reduced premium and paid that into a "pre-paid deductible" bank account (ingdirect.com). While I was saving up the $1000 I was still paying the same per month as I would have been with $100 deductibles, but only about half was going to the insurance company. The other half was going into my own account.
Now that I've saved up the $1000, I only have to pay the 1/2 to the company. Even with maximum liability coverage (250/500), my rates are pretty reasonable: about $95 per month for a single 32 year old male with no points.
The risk is that you need to make a claim sometime during the first few months when you're saving the deductible in which case you're on the hook for the remainder.
I have 21st Century...
I increased my collision and comprehensive deductibles to $1000 and then took the difference in the reduced premium and paid that into a "pre-paid deductible" bank account (ingdirect.com). While I was saving up the $1000 I was still paying the same per month as I would have been with $100 deductibles, but only about half was going to the insurance company. The other half was going into my own account.
Now that I've saved up the $1000, I only have to pay the 1/2 to the company. Even with maximum liability coverage (250/500), my rates are pretty reasonable: about $95 per month for a single 32 year old male with no points.
The risk is that you need to make a claim sometime during the first few months when you're saving the deductible in which case you're on the hook for the remainder.
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LIL RAJA
Mid-Atlantic S2000 Owners
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03-07-2002 07:52 AM