Let's Talk About Insuring Our Broncos

Darrel
That is exactly what I was thinking. I don't do claims, but my understanding is if the repairs exceed 75% of the value, then it will be totaled. So, the Fusion must have been valued at more than $40,000. Also, diminished value is a real thing that can be claimed for damages. I also understand that there are lawyers that specialize in this and may be able to get more than what an adjustor will be willing to give you.

True in general terms. Different states and different companies have different rules and metrics. Just know that once an attorney is mentioned by customer to the agent or staff, they are done discussing case/claim. It is immediately escalated to legal dpt. It is then only dealt with between your attorney and company representation. Based on my experience, at that point forward your law firm gets around 40% of settlement. Many law firms, if they take case will only charge if they win. Many will not take case for diminished value because 40% of 2 to 3 or 4k just isn't worth it to them. Just my two cents. Not an attorney so no legal advice here.

I have USAA with the following:

One 2011 Ford Escape, currently driven by my 21 year old.
One 2004 Honda CRV, currently driven by my 17 year old.
One 2019 Ford F150 Lariat FX4, currently driven by my 436 year old butt.
One 2012 BMW X3, currently driven by my 44 year old wifey.

We are currently at $3311.69 for 6 months or $551.95 per month (the joys of boys driving), we are dropping the BMW and adding our 2022 WT next week and our new policy will only be $3374.14 for 6 months. That's a $10.41 per month increase. Now NOBODY likes increases but I will take it because overall my situation is dramatically improved over the BMW. What sucks for us is that we have one more male driver to add to the policy in four years.

radar3d

I have Allstate and have multiple auto and home and wife’s life. So I guess thats a best case scenario, I also keep my deductible at $1000 because I figure if I have a decent accident then 1000 is still gonna be less than any repair. I also got G.A.P. Insurance when I got my loan just in case. I think insurance is bullshit and should be illegal.

You might check to see if your state will waive the insurance requirement if you carry a bond instead. Some states will, or used to, allow you to keep a certain amount set aside in lieu of having insurance. Sure, it's less convenient, likely to cost you more, means you open yourself to additional liability, but heck you don't have to make monthly payments!

Insurance carriers typically make pennies on the dollar, and in many states the rates are approved by the state, so a carrier cannot price gouge. They have to ask for and prove they need a rate increase before they can raise rates.

You're driving a brand new model with no like-kind-quality (aftermarket or used) parts available. The manufacturer doesn't have replacement parts available and if they are available they are astronomically expensive, and you think it's the insurance companies raking you over the coals, bwahahaha!!!! Pay for your, or the other parties, expenses out of pocket and tell me how much money you save. Hilarious.

So many ill-informed consumers.

SCBronco1

I have USAA with the following:

One 2011 Ford Escape, currently driven by my 21 year old.
One 2004 Honda CRV, currently driven by my 17 year old.
One 2019 Ford F150 Lariat FX4, currently driven by my 436 year old butt.
One 2012 BMW X3, currently driven by my 44 year old wifey.

We are currently at $3311.69 for 6 months or $551.95 per month (the joys of boys driving), we are dropping the BMW and adding our 2022 WT next week and our new policy will only be $3374.14 for 6 months. That's a $10.41 per month increase. Now NOBODY likes increases but I will take it because overall my situation is dramatically improved over the BMW. What sucks for us is that we have one more male driver to add to the policy in four years.

In my opinion USAA is one of the best. My son is a Marine. Him and his wife have auto and home with USAA. It was better than I could do trying to cover him. One thing we recommend with young drivers, if possible, put them on liability only autos. The 04 CRV would be a great example of a liability only auto. Usually saves quiet a bit in premium and if auto is totaled, it can be replaced for a lot less than a newer vehicle. In some cases this won't work because if insured did not have the means to replace liability only auto, then that policy holder may be better of paying higher premium. My two kids are out on their own now and it was a big pay raise for my wife and I when they came of of our policies. Not to mention all other expenses. Disclaimer, I am sharing personal opinion and not acting as insurance provider as I am not licensed in all states. Just a forum participant.

I have Allstate, bundled with home and 4 cars. I got a great rate last year as my first year with them, but this year had a 23% increase on home owners b/c of inflated home prices, even tho I insure to a fixed amount, not full replacement.
Rates are skyrocketing. I think my mode is to keep coverages all the same (all 2021 or newer) and just send the shopping list out annually.
Statefarm settled a claim when it wasnt my fault and then jacked up my rates. I will never go back to state farm for that.

I want to thank everyone for giving me their insight and taking the time to share their experiences, whether pro or con. You've all given me much food for thought.

Fortunately, I've got some time to do some "window shopping" before I commit to an insurance carrier. I will post all of my quotes here when the time comes. For the sake of comparison, I will be asking for equal coverage. This may help others decide whether it's time to shop for themselves.

BuckYeah

I want to thank everyone for giving me their insight and taking the time to share their experiences, whether pro or con. You've all given me much food for thought.

Fortunately, I've got some time to do some "window shopping" before I commit to an insurance carrier. I will post all of my quotes here when the time comes. For the sake of comparison, I will be asking for equal coverage. This may help others decide whether it's time to shop for themselves.

Are you also considering GAP insurance (maybe not the right terminology), but the market value of the bronco is higher than the book value (we all know of the market adjustments). Are you, or has anyone, done their insurance for above the book value? Can it even be done?

Also, from a recent experience on a Ford recall/class action settlement, FORD kept my Focus for 5 months while waiting for a part...they finally provided a rental car the final 30 days (which I think is why they magically found the part after getting that $3000 car rental invoice), but is anyone really watching the terms on car rental provisions in the event of a wreck or recall involved a long term wait time? I have rental add-on, but I doubt it would cover 5 months of rental. I should call my agent and find out.

SCBronco1
I have USAA with the following:

One 2011 Ford Escape, currently driven by my 21 year old.
One 2004 Honda CRV, currently driven by my 17 year old.
One 2019 Ford F150 Lariat FX4, currently driven by my 436 year old butt.
One 2012 BMW X3, currently driven by my 44 year old wifey.

We are currently at $3311.69 for 6 months or $551.95 per month (the joys of boys driving), we are dropping the BMW and adding our 2022 WT next week and our new policy will only be $3374.14 for 6 months. That's a $10.41 per month increase. Now NOBODY likes increases but I will take it because overall my situation is dramatically improved over the BMW. What sucks for us is that we have one more male driver to add to the policy in four years.

Ouch! any Good Student or Drivers Ed discounts available? Is Drivers Ed taught in school anymore?

I’m declining GAP insurance because I’m putting down a substantial down payment, which should more than encompass a total loss. As far as rental insurance, for me, it’s a non-issue since I don’t need a car. This is a toy for me. My morning commute consists of an eight-minute walk to my desk. Granted, I’m probably the exception to the rule. 😜

Xpathf1nderX

Are you also considering GAP insurance (maybe not the right terminology), but the market value of the bronco is higher than the book value (we all know of the market adjustments). Are you, or has anyone, done their insurance for above the book value? Can it even be done?

Also, from a recent experience on a Ford recall/class action settlement, FORD kept my Focus for 5 months while waiting for a part...they finally provided a rental car the final 30 days (which I think is why they magically found the part after getting that $3000 car rental invoice), but is anyone really watching the terms on car rental provisions in the event of a wreck or recall involved a long term wait time? I have rental add-on, but I doubt it would cover 5 months of rental. I should call my agent and find out.

I didn't take any kind of GAP insurance. I had a sizeable down payment with my trade-in. And, the value of the Bronco doesn't seem to drop too much if sold as a used vehicle. I'm figuring that if I would total mine, that my credit union will work with me - it's the higher interest rates that I might be in for if this happens that I'm most concerned about. But, I've heard of other buying it.

The rental reimbursement on a personal auto policy is sometimes limited to only trigger if there is a covered loss to the scheduled vehicle on the policy. A mechanical breakdown or warranty issue is normally not a covered loss on a personal auto policy. But, I don't work with personal auto insurance, so there may be carriers that do extend rental reimbursement to be triggered by a covered loss, mechanical breakdown or warranty. And, they may have maximums - dollar amount and/or days.

Do talk to your agent!! Some on here may be very knowledgeable on insurance, but, may not know all the particulars with your insurance company. But, hopefully, the information on the forum will help you know what to ask your agent about when you do talk to them.

Geico experience to add: Have been with them since 2012. I had a 2008 H3, 2008 Dodge Ram 2500 and a 2005 Cimarron 4 horse gooseneck with LQ all insured full coverage ($1k ded) as well as a 2004 Honda Civic with liability and underinsured/no insured driver only, mid range on PIP for $198 a month (this was after the rate hike within the last year, it was $165/mo). I don't have my Bronco yet (4dr Blk Diamond, Sasquatch with tow package) but sold the H3 and donated the Honda, so dropped coverage on them. I am at $104 a month currently. Adding the Bronco to the policy with the Dodge and Cimarron will bring my payment to between $144-154 a month. $1000.00 deductible still mid range on PIP. They currently do not offer GAP coverage. I live in N TX, clean driving record, hubby is O/O with clean record and both of us have really good credit.

187/month for 100/300, Collision,glass clean record, lowest mileage class, second car on policy.

Bronco V-8

187/month for 100/300, Collision,glass clean record, lowest mileage class, second car on policy.

That’s awesome! I’d consider that figure a win and purchase it right away. That’s the coverage I’m looking for as well. Especially the glass, with these nearly vertical windshields.

frdfan

Ouch! any Good Student or Drivers Ed discounts available? Is Drivers Ed taught in school anymore?

Yep,

All of my kids have good student and in my house you don't drive until they take a driver's training program. That way I am not to blame for teaching them my bad habits. 😁

State Farm. 103 per month quote. 25+ years of good driving, and kids out of the house. That's right I drove muscle cars and did not get a ticket even, expensive radar detectors are worth it...