Cars We Drive!

Discussion in 'Fine Living, Home, Design & Auto' started by Bert1568, Jul 18, 2006.

  1. Blackhood

    Blackhood Senior member

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    Not at all.

    You crash the car hard and it requires $5,000 of repairs.

    Fully covered - $2400 down

    Partial Cover - $5,000 down

    If you have enough cash flow to drop $5k when needed, then don't insure it. If on the other hand a $5k bill would require a loan to fix, then get the insurance.

    Largely insurance isn't about the car, its about how much you are willing to pay to avoid a crippling repair/replacement bill. If the guy is hurting for cash badly enough that he needs the $1400 for other stuff, you can bet that he won't be able to pay for large scale repairs out of pocket without hurting even more.
     


  2. HRoi

    HRoi Senior member

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    Yeah, so a guy like that would pick liability only all the time. Because even an incompetent driver would have a relatively small chance of getting in a crash and spending the larger amount of money to repair or replace. Whilst there is a 100% chance that he will pay $1400 with the other option
     


  3. Blackhood

    Blackhood Senior member

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    While that is true, I fully subscribe to "sods law" which states that a few days after you allow your cover to lapse you will be involved in an accident for the first time in 10 years. Unfortunately with the number of stupid people in cars these days, past success is in no way a guarantee of future safety. Your own skill level plays a minimal part in your overall chance of an accident.
     


  4. idfnl

    idfnl Senior member

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    I assume he's got some savings. I don't think its a matter of trying to make ends meet, its more a matter of looking at the value vs the benefit of full coverage.

    Per Blackhood, I would assume that if he crashed he'd just let the car go and get a new one and accept that he took the risk.
     


  5. HRoi

    HRoi Senior member

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    I would advise him to get full insurance, total the car, and buy a BMW with the proceeds.

    Unless he's already driving a BMW, in which case you should buy him a beer because he's awesome
     


  6. idfnl

    idfnl Senior member

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    I'm passing that advice right along. Its a Toyota 4 Runner, BTW.
     


  7. UnFacconable

    UnFacconable Senior member

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    You sell insurance right? Seriously though, I don't think you are familiar with US car insurance because collision is generally only needed to cover damage to your car when you cause the accident. If someone else causes the accident the claim would be against their liability policy, or if they don't have one, against your uninsured motorist policy.

    In your $2400/$5000 scenario it seems to me the best option is to stash away $1400 a year in a savings account instead of throwing it away on insurance every year where it is most likely not going to be claimed against. Given that collision claims generally are within the control of the driver, he should be able to decide whether or not he thinks the risk is worth it. Of course, the fact that he needs to ask someone else the question gives me some pause because this isn't exactly rocket surgery.
     


  8. Blackhood

    Blackhood Senior member

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    Alas, I'm in a business even more seedy and underhanded than insurance; men's fashion. ;)

    You're right, I think the insurance in the US must differ greatly from the UK.

    Here if you are in the wrong, you pay
    If you are hit by an uninsured driver, you pay
    If you are hit without proof that the other driver was at fault, you pay

    The only time you won't pay is when an insured driver hits you and accepts responsibility. With that in mind it is easier 99.9% of the time to be comprehensively covered.

    Also I view insurance as exactly that - insurance. It is the flat fee I pay to ensure that I am not surprised by a big bill. I insure two cars at a cost of £500/$700 a year, knowing that when I eventually swerve into oncoming traffic to avoid a sheep in the road I will not be stung for replacing my car and fixing that dudes S Class that I wrecked. If the "sting" doesn't scare you, then don't buy insurance.
     


  9. idfnl

    idfnl Senior member

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    He's just a very cautious guy, trust me this is a big deal to him :)
     


  10. VaderDave

    VaderDave Senior member

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    My ZHP is BSM. I love how it looks right after I wash it. Even after eight years the paint still looks fantastic.

    I saw one of those on the back of a transport truck on I-5 today. I thought it looked pretty good in person.
     


  11. Hampton

    Hampton Senior member

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    Pics coming up soon... [​IMG]
     


  12. HRoi

    HRoi Senior member

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    Reviews of the Ftype so far are stellar. I want to drive this together with the new cayman
     


  13. Hampton

    Hampton Senior member

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    What a shame was picking up the car today and the AC is not working, now they will fix that will prob have the car by monday. Bad service that they couldn't see that before delivering the car? I thought Porsche had better service then this.

    But the seller said he will give me a full-tank for the misunderstanding. Well well that's something...
     
    Last edited: Jun 7, 2013


  14. Desi

    Desi Senior member

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    Lol don't they always come with a full tank and a wash?
     


  15. Hampton

    Hampton Senior member

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    No idea, the car was washed but I didn't notice the tank tho
    But that they missed this error is huge in my eyes.
     
    Last edited: Jun 7, 2013


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