Quote:
Originally Posted by ScottyRyan2019
A lot of these insurance comparisons are meaningless without knowing the deductible and coverages.
2024 BMW M2
Suburbs of the Twin Cities of Minnesota
Garage kept, second car (primary car is a 2023 Mazda CX-30 that is $10 a month cheaper with same coverages). Also have homeowners with them.
I am kind of old
10+ year accident-free policy
No tickets
Coverages:
Deductible $1,000 comp and collision (full glass coverage)
250K/500K/300K limits
Uninsured/Underinsured 250K/500K
PIP with Stacking two cars
Also have $2 million Liability Umbrella that extends these coverages out to $2 million for all liability (home and cars) as well as underinsured and uninsured car coverage. Great peace of mind for about $500 a year. I am grandfathered in with SF as they do not write these policies anymore.
Total every 6 months....wait for it.....
$599 every 6 months for the auto policy and $495 a year for liability umbrella.
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That's a pretty attractive premium cost.
I do not have an umbrella policy. My limited experience has been one signs up for an UP at a very attractive rate. Next year the premium goes up some. Then the year after that some more. And so on.
A (retired) friend of mine signed up for a $1M UP at (way back then) $75/year! But after several years of premium increases he dropped the UP coverage. The increase in the cost per year was becoming troubling and it wasn't leveling off.