Re: Opinions and experience on small insurance claim sought
[Re: 5thAve]
#2734755
01/20/20 06:50 AM
01/20/20 06:50 AM
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Joined: Dec 2007
Posts: 20,328 Puttin' on the foil in Charles...
not_a_charger
Mr. Big Shot Moparts Moderator
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Mr. Big Shot Moparts Moderator
Joined: Dec 2007
Posts: 20,328
Puttin' on the foil in Charles...
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State Farm will give you one or two Mulligans, can’t remember which, before the accident counts against you. The accident stays with you for a three year period, then drops off your record. State Farm usually includes something as part of your premium to protect your rate if you have an accident in X number of years so you rate might not go up but it still counts against you and will show up if you shop around or if you have another claim. No they don't. You have to pay for that. I explained this in my first reply in this thread.
Earning every penny of that moderator paycheck.
DBAP
"They don't think it be like it is, but it do." - Oscar Gamble
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Re: Opinions and experience on small insurance claim sought
[Re: not_a_charger]
#2734759
01/20/20 07:54 AM
01/20/20 07:54 AM
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RWG75
Unregistered
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RWG75
Unregistered
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State Farm will give you one or two Mulligans, can’t remember which, before the accident counts against you. The accident stays with you for a three year period, then drops off your record. None of this is correct. I've got State Farm for multiple cars and home owners. A few years ago they had to pay out about $2500 for something I had almost nothing to do with. Longer tangent explanation and never mind the detail for now. I've been getting discounts for multi-policy, multi-vehicle and accident free for years, not paying any sort of fee for accident forgiveness - at least not anything that gets line itemized on the premium notice. What I was told by the local agent at the time: any vehicle continuously insured by them for (8) years automatically gets accident forgiveness. There is a limit to the number of claims over some period of time that this applies to. At least (2) claims, I think maybe (3) and I don't remember the size of the window. Didn't get in to how long after exceeding that number it takes to get the forgiveness back. I did verify that the forgiveness thing is tied to the vehicle and not the policy or driver. After they made the problem go away my premium didn't change at all and it's the last I heard of it. My girl has Progressive on her driver and last year she had a parking lot bump with a friend of hers. The quandary was to just pay it out of pocket and avoid the insurance company hassle or file the claim and roll the dice on the premium bump because it was like a $1200 quote on whatever she backed in to. Oddly enough, hardly a scuff on her car but nevermind that too. As with most insurance web sites, the progressive one was completely useless for searching for the fine print. What I did come across was some Pennsylvania state insurance regulations. Bottom line being that in PA the insurance companies are not legally permitted to raise your rates until they pay out X number of dollars over Y number of months for claims. Whatever the dollar limit it was higher than the claim at hand so again, they made the problem go away and no premium changes since. Your mileage may vary and objects in mirror may be doing something totally stupid.
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Re: Opinions and experience on small insurance claim sought
[Re: ]
#2734763
01/20/20 08:10 AM
01/20/20 08:10 AM
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Joined: Dec 2007
Posts: 20,328 Puttin' on the foil in Charles...
not_a_charger
Mr. Big Shot Moparts Moderator
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Mr. Big Shot Moparts Moderator
Joined: Dec 2007
Posts: 20,328
Puttin' on the foil in Charles...
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State Farm will give you one or two Mulligans, can’t remember which, before the accident counts against you. The accident stays with you for a three year period, then drops off your record. None of this is correct. I've got State Farm for multiple cars and home owners. A few years ago they had to pay out about $2500 for something I had almost nothing to do with. Longer tangent explanation and never mind the detail for now. I've been getting discounts for multi-policy, multi-vehicle and accident free for years, not paying any sort of fee for accident forgiveness - at least not anything that gets line itemized on the premium notice. What I was told by the local agent at the time: any vehicle continuously insured by them for (8) years automatically gets accident forgiveness. There is a limit to the number of claims over some period of time that this applies to. At least (2) claims, I think maybe (3) and I don't remember the size of the window. Didn't get in to how long after exceeding that number it takes to get the forgiveness back. I did verify that the forgiveness thing is tied to the vehicle and not the policy or driver. After they made the problem go away my premium didn't change at all and it's the last I heard of it. My girl has Progressive on her driver and last year she had a parking lot bump with a friend of hers. The quandary was to just pay it out of pocket and avoid the insurance company hassle or file the claim and roll the dice on the premium bump because it was like a $1200 quote on whatever she backed in to. Oddly enough, hardly a scuff on her car but nevermind that too. As with most insurance web sites, the progressive one was completely useless for searching for the fine print. What I did come across was some Pennsylvania state insurance regulations. Bottom line being that in PA the insurance companies are not legally permitted to raise your rates until they pay out X number of dollars over Y number of months for claims. Whatever the dollar limit it was higher than the claim at hand so again, they made the problem go away and no premium changes since. Your mileage may vary and objects in mirror may be doing something totally stupid. Now, see, THAT is the kind of specific information that provides an informed answer. And there are instances where someone has a claim, and their rates are not impacted, with or without any type of accident forgiveness. With regard to a vehicle being insured with them for 8 continuous years, and not being tied to the driver or policy...that seems very odd. What if you insure it with them for 8 years, and then I buy it from you and immediately insure it with them? Would it qualify? I know you don't know the answer (neither do I)...just posing the question in general, because the explanation you were given sounds strange. Not impossible...just strange. As far as how long it "stays on your record," that would be something that would be set by each state's statute. An insurer could choose to stop considering prior losses earlier than the time frame specified by the state, but would not be able to go beyond that time frame. The PA insurance regulations are another great example of how there are 51 sets of rules for auto insurance in the US..each state, plus D.C. Make no mistake, everyone...if there is any "built-in" accident forgiveness in your policy, there are premium $$ "built-in" to what you are paying for your policy. Re-reading 5thave's post, and my reply to it, I think this may be what he was saying, and I may have misunderstood him initially.
Earning every penny of that moderator paycheck.
DBAP
"They don't think it be like it is, but it do." - Oscar Gamble
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Re: Opinions and experience on small insurance claim sought
[Re: not_a_charger]
#2734902
01/20/20 02:05 PM
01/20/20 02:05 PM
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RWG75
Unregistered
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RWG75
Unregistered
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The way I understood it was a vehicle in your name and on your policy for 8 years. If it moves to somebody else's policy the clock starts again. When I said not tied to the policy I skipped the fine print about multiple vehicles on the same policy. On one of my policies I have a vehicle that's been covered for at least 10 yrs so it has the forgiveness. If I add another one it doesn't get that feature until it's been covered on that policy for 8 years.
The part that seemed strange to me is who keeps a car for 8 years anymore?
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Re: Opinions and experience on small insurance claim sought
[Re: ]
#2734905
01/20/20 02:09 PM
01/20/20 02:09 PM
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Joined: Dec 2007
Posts: 20,328 Puttin' on the foil in Charles...
not_a_charger
Mr. Big Shot Moparts Moderator
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Mr. Big Shot Moparts Moderator
Joined: Dec 2007
Posts: 20,328
Puttin' on the foil in Charles...
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That makes much more sense.
I'm still not convinced that you were given accurate information, because it still seems strange, even with the clarification. Not questioning you...questioning what you were told. It's possible, don't get me wrong. I've just never heard of anything like that before. The 8 year time frame is odd for the reason that you mentioned. Then again, SF is getting crushed by Geico and Progressive, losing market share to them, and no longer getting the 3rd and 4th generation "legacy" customers that allowed SF to be successful despite being pretty bad at underwriting.
Earning every penny of that moderator paycheck.
DBAP
"They don't think it be like it is, but it do." - Oscar Gamble
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Re: Opinions and experience on small insurance claim sought
[Re: DrCharles]
#2734951
01/20/20 03:34 PM
01/20/20 03:34 PM
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Joined: Dec 2007
Posts: 20,328 Puttin' on the foil in Charles...
not_a_charger
Mr. Big Shot Moparts Moderator
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Mr. Big Shot Moparts Moderator
Joined: Dec 2007
Posts: 20,328
Puttin' on the foil in Charles...
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Any idea how it works with comprehensive claims (do those make my rate go up?) Last year I had two vehicles damaged by a severe hail storm, and a month ago I hit a large armadillo (with a third vehicle) at 55 mph, which caused $2400 worth of damage to the front air dam, fog light, brake cooling ducts, etc. I was only out the $100 deductible... so far If the state allows premium increases for comp claims, they can make your rates go up, even for 1 claim. 3 comp claims in less than a year is not going to be good for your rate, I wouldn't think. It will certainly have an impact should you shop for insurance.
Earning every penny of that moderator paycheck.
DBAP
"They don't think it be like it is, but it do." - Oscar Gamble
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Re: Opinions and experience on small insurance claim sought
[Re: not_a_charger]
#2735046
01/20/20 07:44 PM
01/20/20 07:44 PM
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Joined: Jan 2003
Posts: 4,186 Canada -- Posts: 4034 -Registe...
5thAve
Doesn't care what this says anyway
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Doesn't care what this says anyway
Joined: Jan 2003
Posts: 4,186
Canada -- Posts: 4034 -Registe...
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State Farm will give you one or two Mulligans, can’t remember which, before the accident counts against you. The accident stays with you for a three year period, then drops off your record. State Farm usually includes something as part of your premium to protect your rate if you have an accident in X number of years so you rate might not go up but it still counts against you and will show up if you shop around or if you have another claim. No they don't. You have to pay for that. I explained this in my first reply in this thread. What you said in your first reply is exactly what I meant.
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Re: Opinions and experience on small insurance claim sought
[Re: 5thAve]
#2735056
01/20/20 08:10 PM
01/20/20 08:10 PM
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Joined: Dec 2007
Posts: 20,328 Puttin' on the foil in Charles...
not_a_charger
Mr. Big Shot Moparts Moderator
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Mr. Big Shot Moparts Moderator
Joined: Dec 2007
Posts: 20,328
Puttin' on the foil in Charles...
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State Farm will give you one or two Mulligans, can’t remember which, before the accident counts against you. The accident stays with you for a three year period, then drops off your record. State Farm usually includes something as part of your premium to protect your rate if you have an accident in X number of years so you rate might not go up but it still counts against you and will show up if you shop around or if you have another claim. No they don't. You have to pay for that. I explained this in my first reply in this thread. What you said in your first reply is exactly what I meant. Yeah, I figured that out after RW's reply.
Earning every penny of that moderator paycheck.
DBAP
"They don't think it be like it is, but it do." - Oscar Gamble
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Re: Opinions and experience on small insurance claim sought
[Re: 360view]
#2735174
01/21/20 07:51 AM
01/21/20 07:51 AM
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Joined: Dec 2007
Posts: 20,328 Puttin' on the foil in Charles...
not_a_charger
Mr. Big Shot Moparts Moderator
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Mr. Big Shot Moparts Moderator
Joined: Dec 2007
Posts: 20,328
Puttin' on the foil in Charles...
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So, considering all this and the benefits of paying less than X $ damage amounts out of pocket yourself, at what time period ( or vehicle resale value) should all collision coverage be dropped?
When a new vehicle is 3 years old, 5, 7 etc?
Depends upon the value of the car. Remember, you're insuring against total losses as well, not just repairable damage. Also, it depends upon how much you are paying. For example, I paid $3,800 for a very clean, low mileage 2006 Civic for my 16 year old daughter to drive. I could probably sell it for $4,500-$4,800. It cost me $400/year to add her and the car to my insurance. Comp/collision are about $180 of that amount. For me, it's worth the $180/year to keep comp/collision on a car primarily driven by a 16 year old. My wife's 2013 Subaru got smashed in the side in January 2019. Did $8,800 in damage. We turned that in to our insurance company without hesitation.
Earning every penny of that moderator paycheck.
DBAP
"They don't think it be like it is, but it do." - Oscar Gamble
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