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Old 12-01-2013, 09:33 AM   #11 (permalink)
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Who is usually the wealthiest guy in town? If your town doesn't have Oprah or an NFL player living in it, it's probably an insurance salesman.

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Old 12-01-2013, 01:58 PM   #12 (permalink)
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Compulsory insurance and strict enforcement has reduced insurance costs here in civilisation.

Plus of course removing the ambulance chasers...
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Old 12-01-2013, 02:16 PM   #13 (permalink)
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...there are literally hundreds-of-thousands of "uninsured" drivers in USA, and a huge portion of them "...no habla englis..." because they're undocumented. But, likewise, there are many white-trash highway hogs who just love to live & drive life in the risky lane.
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Old 12-01-2013, 04:05 PM   #14 (permalink)
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Actually, the "ripoff" is C&C, not liability. Simple to get around that: just drive a car that you can pay cash for.
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Old 12-01-2013, 04:07 PM   #15 (permalink)
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I disagree; I only carry liability on all my junk and I still consider it a rip-off especially when I figure my cents/mile costs.
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Old 12-01-2013, 07:25 PM   #16 (permalink)
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Although the details vary from state to state.

A part that is sometimes missed is the source of the legally required financial coverage ( insurance ).

Technically in most places, paying ( monthly unending fees ) to a 3rd party insurance company ( Progressive or whoever ) is not the only legal option.

If you do the bond or cash deposit option. The con is the up front cost. The Pro is that it's a set finite sum of money. And , you can often cash it out if you latter cancel the policy ( getting most if not all of the initial invested funds back , maybe even some interest it earned over the years ).

Alternative Car Insurance | eHow

One of my professors in college said he took out a loan in order to get the start up funds needed for the required bond. He claimed the cost for the interest payments on the loan was less than what it would eventually cost him to pay an insurance company. He also repeated often how much he liked the idea of still owning the bond and being able to get his money back if he ever stopped driving and canceled the coverage.

On the other hand. It effectively means all payments come from you one way or the other. If it would have been your insurance companies $5k to fix the car ( or it was totaled ) now it's all your $5k. There would be no outside 3rd party to give you any money. So I guess it depends on the risk of accident frequency.

I can't afford a bond / deposit option at this time , or I'd do it.
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Old 12-01-2013, 11:33 PM   #17 (permalink)
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My motorcycle insurance is 60% uninsured motorists coverage, but at just over $100 a year I guess I can handle that. No collision on my Fiesta. The wife's Sorento has $1000 deductible collision, which she has used one time in 24 years and my body shop buddy saved me the deductible.
I also carry comprehensive and highly recommend it, at least around here, where you can get hail damage, wind, floods, etc. My brother collected one comprehensive claim that paid 30 years worth of premiums and another that covered 250 years premiums. I call that cheap insurance.
For us the high deductible is a way to save a considerable portion of the annual cost of insurance. I think our total for everything except medical is $2500 a year, thats our home and 4 vehicles.

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Old 12-02-2013, 11:59 AM   #18 (permalink)
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I live in New Hampshire- love it. I don't have to wear a seatbelt, and if I get a bike nobody's going to tell me I have to get a helmet.

Of course I do wear a seatbelt and have insurance. Just because nobody makes me doesn't mean they aren't worth it.
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Old 12-02-2013, 01:18 PM   #19 (permalink)
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Quote:
Originally Posted by jameskshaffer View Post
We all know that in the USA, driving without insurance is illegal (unless you live in New Hampshire, where you have the option to drive without auto insurance if you would like)

This article lets you know how you can get around those laws - How To Drive Without Auto Insurance And Not Get Caught

Still seems a little risky IMO.
The "article" is a sham. It's nothing more than a list of tips on safe driving. It's a hook to get you to buy the insurance they are pushing.

I notice you are in NY state. In that state you can't register a vehicle unless you buy insurance and show proof of it. Some people buy insurance then cancel it - but you still need to buy it first to deal with the DMV. Insurance polices are issued and renewed on a six month basis, which means you would constantly need to keep buying it and canceling it. If either your insurance company or the state finds out that you are doing that, they will give you a hard time.

You don't need insurance to drive a vehicle, meaning to be a licensed driver. You only need insurance if you register a vehicle, namely to obtain plates for it. Basic liability will suffice, but it's mandatory.
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Old 12-16-2013, 06:14 PM   #20 (permalink)
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Like Old Mechanic, I pay extra so that other people can drive without insurance and not be a hazard to me.

OTOH, I passed on making a claim against an uninsured motorist because I don't want my rate going higher.


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