Auto Insurance Discounts

[2K2BIRD]

Received this message from USAA:

We know the COVID‐19 pandemic is having a financial impact, and we're taking action to ease the burden. Every member with an auto insurance policy in effect as of March 31, 2020, will receive a 20% credit on two months of premiums in the coming weeks. All told, we're returning about $520 million.

[FUN X 3]

We're getting 15% reduction on our monthly bill for two months from AARP The Hartford. Looks like their lagging behind the others.

[Frank Dreano]

NCM paid $65,000 to repair my 1963 Corvette coupe when some uninsured dolt pulled in front of me in an Escalade - no questions asked and the rates didn't go up...

Car was fixed with all correct body panels, original or NOS parts and done to perfection. Certainly worth considering if you only drive your bird for pleasure, car shows or cruises. They now insure in New York and some other states where they previously didn't provide coverage...

Having said that, getting vintage Corvette parts seems easier than finding them for retro TBirds -- go figure..

[HARLEYJOE43]

My ins.company Progressive, is offering rebates also, but I had to pry it out of them.
I have Hagerty for the Bird.

[JudgeLucid]

Liberty Mutual is actually refunding 15% for the next two months (possibly longer). Seems like a better deal.

(I wonder if my insurance policy covers excess wear and tear on the paint from the repeated washings/waxings/buffings/carressings/etc. BURRRD has endured during this "stay home" time.)

Judge Lucid

[BLACK BEAUTY]

SPENCE...Does TBN qualify for the 'club' discount offered by NCM Insurance??? (Natl. Corvette Museum)

[BLACK BEAUTY]

Bottom line: Progressive $539 NCM with $12,000 value and reduced deductible, and 6000 miles $375..saving $164

[steelblue5505]

Greg, you ask a good question about whether TBN qualifies as a club.
However every insurance provider has their own definitions for what makes a club a club.
Spence may know the answer to your questions, but you would be wiser to ask the insurance company.

[EllisonCal]

I have USAA insurance as many other veterans in TBN, but it was Mike Flynn's story about them that sold me on switching from State Farm. In the process of changing I found out their homeowner's fixed deductible made a lot more sense than State Farm's method. With State Farm as your home increases in value, your deductible increases as a percentage of the new insured value. In a named Hurricane my deductible would be $30,000 based on a $300,000 insured value on my structure. With USAA, $10,000. !

[007Cruiser]

I assume that the big deductibles are the result of the high risk and past claims weakening the industry. Up here in Jersey, direct hits are infrequent. The Carolinas usually save us by sticking further out into the Atlantic. I know that Florida also has high rates.

[11TH GEN]

I have USAA insurance as many other veterans in TBN, but it was Mike Flynn's story about them that sold me on switching from State Farm. In the process of changing I found out their homeowner's fixed deductible made a lot more sense than State Farm's method. With State Farm as your home increases in value, your deductible increases as a percentage of the new insured value. In a named Hurricane my deductible would be $30,000 based on a $300,000 insured value on my structure. With USAA, $10,000. !

OMG that is amazing.... My deductible with Farmers has never been more than $1,000 and it decreases every year by $50 if you are claim free. It's currently $750. The dwelling coverage is $312,000

[EllisonCal]

OMG that is amazing.... My deductible with Farmers has never been more than $1,000 and it decreases every year by $50 if you are claim free. It's currently $750. The dwelling coverage is $312,000

Rick, are you talking about deductibles on your automobile or your house. Wind damage from a Tornado or Hurricane is a different risk and in coastal areas, Hurricane coverage is the biggest risk of all. Every year from June 1st to November 1st it is Hurricane season. Last year we had a large tree break and 1/3 of the tree fell on my roof from Dorian and itthe Hurricane made its landfall in Florida, several hundred miles south of Charleston. in 1989 when Hurricane Hugo hit, it damaged 80% of the roofs of homes in Charleston and did structural damage to over 100 homes. Just putting new shingles on a ranch house like mine is a $10,000 repair. If the roof was blown away it would be probably $50,000. With State Farm, I would have had to pay the first $30,000 and they may have paid $20,000.

P.S. When we evacuate from Charleston due to an impending Hurricane, Marietta, GA is our preferred location. For Hugo we mistakenly went to Charlotte, NC and the storm hit there too!

[EllisonCal]

I assume that the big deductibles are the result of the high risk and past claims weakening the industry. Up here in Jersey, direct hits are infrequent. The Carolinas usually save us by sticking further out into the Atlantic. I know that Florida also has high rates.

Gene, you are right about North Carolina sticking further out into the Atlantic. I think the outer banks are millions of years of coastal South Carolina being scoured away and then deposited off the eastern coast of NC.

That turning to the north and coming ashore in the Outer Banks had Charlestonians thinking they were safe until Hugo came along in 1989. I moved here in 1989, just in time to experience it! The South Carolina premium because of that Hurricane and others to come adds $1454 to my annual Home Insurance cost, almost doubling the cost.

[11TH GEN]

Rick, are you talking about deductibles on your automobile or your house.

Cal, I was referring to home owners deductible of $1,000 with Farmers, although my collision deductible with Geico is $1,000 as well. I have just never heard of homeowner deductibles like the amounts you were talking about. Sort of like having healthcare coverage with a $10,000 out of pocket requirement, a lot of people can't use it. I guess living in metro Atlanta has insurance benefits.

[007Cruiser]

Forget homeowners and car insurance. The one that is killing me is long term care insurance. The premium is close to nine grand a year but I can't chance ending up in some rat hole nursing home one day. The coverage is generous so I just keep biting the bullet.