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Thread: Accident

  1. #41
    Senior Member fc321's Avatar
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    The car is financed and I kept the full coverage for the fist year but then after year 2 I decided to water down the coverage to the lowest premium available for 55 per month.

    The dealership still thinks I have full coverage but I switched my insurance behind their backs. Of course now if I ever got in an accident I would be in hot water, It was maybe a little reckless decision. Also canceled my home insurance also and if anything happens I am completely on my own

    So no more blowing thru the yellow lights at the intersection, cant afford that kind of risk.


    2015 Mirage DE 5 speed Manual - 30k miles

        __________________________________________

        click to view fuel log View my fuel log 2015 Mirage DE 1.2 manual: 44.9 mpg (US) ... 19.1 km/L ... 5.2 L/100 km ... 53.9 mpg (Imp)


  2. #42
    Quote Originally Posted by fc321 View Post
    The car is financed and I kept the full coverage for the fist year but then after year 2 I decided to water down the coverage to the lowest premium available for 55 per month.

    The dealership still thinks I have full coverage but I switched my insurance behind their backs. Of course now if I ever got in an accident I would be in hot water, It was maybe a little reckless decision. Also canceled my home insurance also and if anything happens I am completely on my own

    So no more blowing thru the yellow lights at the intersection, cant afford that kind of risk.
    Worst case if you crash you still owe for a car you don't have anymore(if it's your fault). I can't imagine how much full coverage would cost you? I just use a line of credit to buy cars, no need for full coverage. Interest rate sucks but more reason to pay it off faster and you don't need full coverage. I wouldn't run without at least fire and theft coverage though unless the car was a total turd-pail.
    I could never risk going without house insurance, anything is better than nothing. I'd hate to have the house burn down and walk away still owing 300k cause I'm a cheap *******.
    Mirage videos:

        __________________________________________

        click to view fuel log View my fuel log 2014 Mirage SE wussie cvt edition. 1.2 automatic: 37.7 mpg (US) ... 16.0 km/L ... 6.2 L/100 km ... 45.3 mpg (Imp)


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  4. #43
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    Quote Originally Posted by fc321 View Post
    The car is financed and I kept the full coverage for the fist year but then after year 2 I decided to water down the coverage to the lowest premium available for 55 per month. Also canceled my home insurance also and if anything happens I am completely on my own
    So no more blowing thru the yellow lights at the intersection, cant afford that kind of risk.
    I hate insurance too, but I'd think twice about both of those. Insurance is (or at least feels like) a scam, as long as you don't need to use it. When I moved out on my own, I got minimum coverage. I think it was like $15,000 medical. Fast forward 10 years, I'm married, and my wife accidentally rear-ends a pickup (who slammed on their brakes for a red and stopped half-way through the intersection before my wife rear-ended them. Fairly slow speed, but the moran in the truck in front of her had their seatbelt buckled *behind* them. Forehead to steering wheel, blood, screaming, ambulance to hospital, etc. (My wife was fine. Just had a bruise from the seatbelt that /she/ was wearing. Safety first, people.) Anyway, we got a letter about 2 months later from our insurance company stating that our coverage might not cover all of the injuries, and we might be liable for the rest, however much it might be. The anxiety I had over the next like 9 months was massive. Would we lose our house to bankruptcy? Finally, we got another letter from our insurance company stating that everything was covered, and the "case" was closed. Huge answer to prayer. Suffice it to say, after I got the first letter, I bumped up our coverage to like $200,000 medical. I think it was just a few dollars more per month. Well worth the peace of mind. Just something to think about!

        __________________________________________

        click to view fuel log View my fuel log 2015 Mirage ES 1.2 manual: 44.1 mpg (US) ... 18.7 km/L ... 5.3 L/100 km ... 52.9 mpg (Imp)


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  6. #44
    Good reason to have a dash cam.
    Mirage videos:

        __________________________________________

        click to view fuel log View my fuel log 2014 Mirage SE wussie cvt edition. 1.2 automatic: 37.7 mpg (US) ... 16.0 km/L ... 6.2 L/100 km ... 45.3 mpg (Imp)


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  8. #45
    Senior Member palebeachbum's Avatar
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    I absolutely agree about the insurance coverage. It feels like a waste of money because it's not something You use everyday, but when you do need it, boy are you glad to have it!

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  10. #46
    Moderator inuvik's Avatar
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    Quote Originally Posted by palebeachbum View Post
    I absolutely agree about the insurance coverage. It feels like a waste of money because it's not something You use everyday, but when you do need it, boy are you glad to have it!
    For sure, paying for insurance sucks, until you need it. If you are a homeowner sometimes it is much cheaper to purchase a umbrella policy that covers your home and vehicles.


        __________________________________________

        click to view fuel log View my fuel log 2015 Mirage ES 1.2 automatic: 40.5 mpg (US) ... 17.2 km/L ... 5.8 L/100 km ... 48.6 mpg (Imp)


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