Quote:
Originally Posted by jkoral
I actually thought the funniest part was "piece of mind", but I just got a quote from my agent, $45/day rental coverage is $390/year on my policy.
I own and insure 3 cars. If you only insure 1 car, sure it makes sense and it's cheap, but like most insurance it's money down the drain if you don't use it. I've insured 3 cars for ~20 years, so $390 x 20 is $7800.
I suppose I could get rental coverage on just 1 vehicle and assuming $130/year that is only ~$10/month (not $2/month), but how do you determine which vehicle is going to be involved in an accident? All are driven daily by different members in my family (including myself). No point in getting rental coverage unless it is on all 3 vehicles and that does not make financial sense for me.
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Wow, $390/yr is absolutely ridiculous!!! How are they coming up with this figure? I've been with State Farm, All State, Geico, and Hartford, and I've never paid more than $15 for 6 months coverage. Right now I'm $24/yr and I'm glad I had it when my last car was stolen! My insurance required a 30 day wait period to see if the car would be recovered. If I didn't have that coverage, I would've paid 30x$45 = $1350 just for a rental car. My car was recovered after 3 weeks but was deemed a total loss after back and forth for 2 weeks with the adjuster and me bringing in a secondary appraiser. Anyway, I ended up exhausting the $1500 so I'm glad I had that coverage for $2/month. It was $24/yr well spent.