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      11-15-2019, 02:24 PM   #1
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Insurance coverage

I thought I share with everyone the difference in cost of automobile insurance for the F90. A little history about me first. I have been with USAA for over 20 years and started with USAA back when I was on active duty in the Marine Corps. I have been retired from the Corps for over 15 years. I live in SoCal in North San Diego County since 1996.

So over the past 4-6 years I have watched my automobile insurance go up. I have never had any accidents (knock on wood) and my last speeding ticket was in 1985 when I was a young Marine driving back from Baltimore to New River Air Station in Jacksonville NC. The NC Tropper was in plain wrapped Ford Mustang LX 5.0 and it was around 0200 hours and I passed him in my 1971 Cuda.

Currently I am paying $833.09 for full coverage for 6 months on the 18 M5 (F90). It is listed as a pleasure car only since I have an assigned vehicle for work that I bring home. Annual mileage is at 6k miles a year for the M5. I also have three other vehicles on the policy all with full coverage.

So I decided to call around to see what other insurance companies offered for the M5 (6 month policy):

Wawanesa: $533.87
Ameriprise: $482.87
Amica: $956.00

I am not complaining but just pointing out the difference in cost for the same coverage with different companies.

Are there any members that are currently using Ameriprise (CostCo) for their automobile insurance? They were the cheapest compared to the others.

Last edited by Egrunt; 11-15-2019 at 02:51 PM..
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      11-16-2019, 03:29 AM   #2
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I recently left USAA for Geico after getting different excuses to raise my premium yearly or during PCSs. I still use USAA for homeowners but pay about half what I was quoted by USAA during my last move for same amount of coverage in auto with Geico.
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      11-16-2019, 05:45 AM   #3
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I find I have to shop around every few years. I was with Geico for the last 3-4 years and when I went to add the M5C, my premium jumped 35% from my previous car (no accidents, claims, or tickets). I did a quick search of a few other online companies and they are offering essentially what I was paying before the M5C so I switched. I’m sure in a few years I’ll have to switch again.
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      11-16-2019, 06:47 AM   #4
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car insurance is like any other commodity , you have to stay informed and keep checking prices and sometimes for some odd reason it can vary from car to car
a recent example is I bought my son a GOLF R and nationwide ins wanted 1 k every 6 month which seemed excessive
switched that car to Erie ins and premium was 600 every 6 months
other cars were almost exactly the same
so I kept two policies
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      11-16-2019, 07:04 AM   #5
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Are you all driving with only 100/300 policies?
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      11-16-2019, 07:57 AM   #6
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A companies record of servicing claims, should be equally important to price when shopping for insurance. Look for a comparison of customer satisfaction.
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      11-16-2019, 08:02 AM   #7
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I've had USAA for about ~19 years. They're a bit more expensive compared to the competition but I'm very happy with them. I've experienced great customer service, quick claims processing, etc.
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      11-16-2019, 08:05 AM   #8
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Quote:
Originally Posted by TheRealBob View Post
A companies record of servicing claims, should be equally important to price when shopping for insurance. Look for a comparison of customer satisfaction.

I say more important. Having made claims for hundreds of clients, the state farms and allstates of the world are just horrible companies. USAA Amica Geico all great companies because they pay claims when you need them.

At a minimum should have 500K policies.
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      11-16-2019, 08:37 AM   #9
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Personally I have had amica for home life and auto insurance. Certainly not the cheapest game in town but you pay for what you get. Any claim I have ever filed including getting hit by an uninsured driver was always handled with professionalism and speed. I'll pay more knowing when something happens I am not going to have to fight for the proper coverage or repayment.
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      11-16-2019, 11:38 AM   #10
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We were State Farm for years but they just became absolutely price non - competitive - double on the atos and on the umbrella.

We switched to ameriprise for everything including the for $3mil umbrella
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      11-16-2019, 11:46 AM   #11
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Quote:
Originally Posted by Stealth7 View Post
We were State Farm for years but they just became absolutely price non - competitive - double on the atos and on the umbrella.

We switched to ameriprise for everything including the for $3mil umbrella
Make sure you get an endorsement for uninsured/underinsured on umbrella. Most umbrellas will cover only your actions not some drunk driving idiot for example.
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      11-18-2019, 11:09 AM   #12
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Some of you here seem very informed and knowledgeable about auto insurance policies...

Curious what you recommend for coverage. How does this look coverage-wise:

Liability Coverage
Bodily Injury Limits
Each Person / Each Accident
$50,000 / $100,000
Property Damage Limit
Each Accident
$100,000

Personal Injury Protection Coverage
Limit - Each Person
$2,500

Comprehensive Coverage - $500 deductible

Collision Coverage - $1,000 deductible

Emergency Road Service Coverage

Car Rental and Travel Expenses Coverage
Limit - Car Rental Expense
Each Day / Each Loss
$50 / $1,200

Uninsured/Underinsured Motorists Coverage
Bodily Injury Limits
Each Person / Each Accident
$50,000 / $100,000
Property Damage Limit
Each Accident
$100,000
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      11-18-2019, 11:30 AM   #13
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I’m no insurance expert, but those coverages seem scary low. $2 million policy here; $1,000 deductible on anything (this insurer mandates a min of $1,000 deductible on any car over $80k if I recall)
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      11-18-2019, 01:47 PM   #14
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Quote:
Originally Posted by windtendo View Post
Some of you here seem very informed and knowledgeable about auto insurance policies...

Curious what you recommend for coverage. How does this look coverage-wise:

Liability Coverage
Bodily Injury Limits
Each Person / Each Accident
$50,000 / $100,000
Property Damage Limit
Each Accident
$100,000

Personal Injury Protection Coverage
Limit - Each Person
$2,500

Comprehensive Coverage - $500 deductible

Collision Coverage - $1,000 deductible

Emergency Road Service Coverage

Car Rental and Travel Expenses Coverage
Limit - Car Rental Expense
Each Day / Each Loss
$50 / $1,200

Uninsured/Underinsured Motorists Coverage
Bodily Injury Limits
Each Person / Each Accident
$50,000 / $100,000
Property Damage Limit
Each Accident
$100,000
You need a minimum of 300k/500k on , liability and uninsured/underinsured IMO. 1mill on an umbrella with the endorsement I mentioned, although not a lot of companies offer it....so that should tell you it’s vital.

50k could be used up on emergency room.
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      11-18-2019, 02:32 PM   #15
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Quote:
Originally Posted by Outlaw1 View Post
Quote:
Originally Posted by windtendo View Post
Some of you here seem very informed and knowledgeable about auto insurance policies...

Curious what you recommend for coverage. How does this look coverage-wise:

Liability Coverage
Bodily Injury Limits
Each Person / Each Accident
$50,000 / $100,000
Property Damage Limit
Each Accident
$100,000

Personal Injury Protection Coverage
Limit - Each Person
$2,500

Comprehensive Coverage - $500 deductible

Collision Coverage - $1,000 deductible

Emergency Road Service Coverage

Car Rental and Travel Expenses Coverage
Limit - Car Rental Expense
Each Day / Each Loss
$50 / $1,200

Uninsured/Underinsured Motorists Coverage
Bodily Injury Limits
Each Person / Each Accident
$50,000 / $100,000
Property Damage Limit
Each Accident
$100,000
You need a minimum of 300k/500k on , liability and uninsured/underinsured IMO. 1mill on an umbrella with the endorsement I mentioned, although not a lot of companies offer it....so that should tell you it’s vital.

50k could be used up on emergency room.
This is the most sound advice I've read in awhile...

It's Los Angeles... Understand what your 50K coverage will apply too... Let's say you're driving in Beverly Hills and you ricochet off of a Bentley... Actually, forget all that, lol... Let's say you end up crashing into a 540i... I think they start at like 57k, lol... So yeah, you're not even covered for a base 5 series...
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      11-18-2019, 04:40 PM   #16
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Quote:
Originally Posted by shoei View Post
This is the most sound advice I've read in awhile...

It's Los Angeles... Understand what your 50K coverage will apply too... Let's say you're driving in Beverly Hills and you ricochet off of a Bentley... Actually, forget all that, lol... Let's say you end up crashing into a 540i... I think they start at like 57k, lol... So yeah, you're not even covered for a base 5 series...
Understand what you're saying, but a couple of things to note:

I'm in Houston, not Los Angeles. The $100k property damage would cover someone's property (vehicle) up to $100k, no? Their medical bills would be covered up to $50k as well.

This discussion is EXTREMELY helpful guys, so all of your sage advice is welcomed. Definitely going to reevaluate our coverage/pricing after this discussion winds down.
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      11-18-2019, 04:50 PM   #17
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Quote:
Originally Posted by windtendo View Post
Understand what you're saying, but a couple of things to note:

I'm in Houston, not Los Angeles. The $100k property damage would cover someone's property (vehicle) up to $100k, no? Their medical bills would be covered up to $50k as well.

This discussion is EXTREMELY helpful guys, so all of your sage advice is welcomed. Definitely going to reevaluate our coverage/pricing after this discussion winds down.
Glad it helps. Insurance coverage is not meant to pay medical bills necessarily. It’s meant to cover damages that you may incur in a serious accident which could be in the hundreds of thousands of dollars and not your fault. This is protection for your family and yourself. (personal injury) and not your negligence.

One year I had 3 calls on fatalities in an uninsured car accident with 100k limits. It was devastating for the family.
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      11-18-2019, 04:53 PM   #18
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Quote:
Originally Posted by Outlaw1 View Post
Glad it helps. Insurance coverage is not meant to pay medical bills necessarily. It’s meant to cover damages that you may incur in a serious accident which could be in the hundreds of thousands of dollars and not your fault. This is protection for your family and yourself. (personal injury) and not your negligence.

One year I had 3 calls on fatalities in an uninsured car accident with 100k limits. It was devastating for the family.
Outlaw1 do you sell insurance? You sure know a lot about this! My eyes glaze over when I try to understand this stuff, but I know it's not something to take lightly which is why I'm asking these questions.
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      11-18-2019, 06:47 PM   #19
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Quote:
Originally Posted by windtendo View Post
Quote:
Originally Posted by shoei View Post
This is the most sound advice I've read in awhile...

It's Los Angeles... Understand what your 50K coverage will apply too... Let's say you're driving in Beverly Hills and you ricochet off of a Bentley... Actually, forget all that, lol... Let's say you end up crashing into a 540i... I think they start at like 57k, lol... So yeah, you're not even covered for a base 5 series...
Understand what you're saying, but a couple of things to note:

I'm in Houston, not Los Angeles. The $100k property damage would cover someone's property (vehicle) up to $100k, no? Their medical bills would be covered up to $50k as well.

This discussion is EXTREMELY helpful guys, so all of your sage advice is welcomed. Definitely going to reevaluate our coverage/pricing after this discussion winds down.
50k is basically the initial consultation for ER lolol...

Everyone's sue happy these days... I have decently high coverage and an umbrella... I know it's crazy, because as some comedian said once - "you're paying for in case shit happens..." but man, that ONE TIME you need it? You're gonna be glad you had it...
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      11-18-2019, 08:03 PM   #20
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Quote:
Originally Posted by windtendo View Post
Understand what you're saying, but a couple of things to note:

I'm in Houston, not Los Angeles. The $100k property damage would cover someone's property (vehicle) up to $100k, no? Their medical bills would be covered up to $50k as well.

This discussion is EXTREMELY helpful guys, so all of your sage advice is welcomed. Definitely going to reevaluate our coverage/pricing after this discussion winds down.
Your limits are fine. Your medical is typically covered through your medical insurance. 100/300 is just fine for most.

Last edited by A Need For Speed; 11-18-2019 at 08:24 PM..
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      11-19-2019, 07:53 AM   #21
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Quote:
Originally Posted by windtendo View Post
Outlaw1 do you sell insurance? You sure know a lot about this! My eyes glaze over when I try to understand this stuff, but I know it's not something to take lightly which is why I'm asking these questions.
Lawyer here. 20 years of making insurance claims on behalf of my clients.
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      11-20-2019, 09:07 PM   #22
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Uninsured Motorist Coverage is the most important part of your policy IMO. Many companies like Wawanesa/Geico/Mercury/Ameriprise will not write 500/500 Uninsured/Underinsured coverage. If a driver here in California with minimum coverage of 15000 liability hits you and you become disabled for a long period of time, the 500/500 Uninsured/Underinsured coverage could be very important if you don't have disability insurance. I have Safeco which does it and I believe Chubb, Farmers, and State Farm do as well. Most umbrella policies are for liability only. Not UM coverage. I also have a very important inexpensive rider on my policy that requires all repairs to use new OEM parts. Many insurance companies try to use less expensive aftermarket or used parts if they can.
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