hi in our three biggest budgetbusters video we revealed that our car insurance cost a measly thirty fourdollars per month because we chose to self-insure meaning that we felt we hadenough money in the bank that if we had to replace our car we could for no other reason other thani had kind of a strange feeling i decided to take a closer look at thatplan it was a good thing that he did because it turns out that all are savings and future plans were at the mercy of usnever getting into an accident yikes but before getting started i want tomake
very clear we're not licensed orqualified in any way to give any information about car insurance orlegal or blah blah blah all the information we are going toprovide is based on a having geico insurance in florida fyi we have invited colyn and peyton and brady "look a chicken!" to help us keep things simpleand entertaing bodily injury is the big one this covers you if you injure or killsomeone in a car accident in florida the state required limit is tenthousand dollars per person and twenty
thousand dollars per occurrence what we didn't realize is once those limits are met you are held personally responsible for the remainderall your assets including your savings and even your future wages are injeopardy "give me all your money" if you have any amount of savings likewe do you're gonna want more coverage property damage pays for the repair ofsomebody else's car home or property in the case of an accident with the average price of a new car in 2014 being $32,086 you can see why the ten thousand dollarminimum is a joke not to mention
multiple car pile-ups or running into buildings this iswhere things get interesting personal injury protection covers your ownmedical bills and lost wages in the event of an accident so if bodily injury covers the otherperson personal injury protection covers you medical payments is the option tobasically increase the coverage of your personalinjury protection minus the lost wages part
it's extra money for x-rays surgeries andambulance rides without waiting for the results of a lawsuit or investigation uninsured motorist to me is the mostinteresting because it's basically buying insurance for every other driveron the road where it gets complicated is that this should technically be covered by your health insurance but you would have to call and check tobe sure this is so boring okay so that covers injury andeveryone elses car in an accident but what
happens to your car if you hit another person's car it's calledcollision insurance and this is what most people think of when they think of car insurance it basically replaces or repairs your car if you were to get into an accident it's alsovery expensive comprehensive on the other hand coverseverything else including fire flood theft falling objects vandalism hailmalicious mischief windstorm civil commotion explosion earthquake waterdamage lightning larceny water damage and damage caused by flying objects intheir words
missiles it also happens to be supercheap all right now that we know buying how much insurance do we actuallyneed well for me the biggest eye-opener was how importantbodily injury and property damage coverage is and how cheap it to increase ourcoverage from the embarrassingly low ten thousand dollar limit to a morereasonable hundred thousand dollar limit was only fifteen dollars a month but as ournetworth continues to increase i'm going to be ratcheting up those limits to coverour asses assets assets and the most expensivepart of car insurance
is still the collision coverage and thiscovers your car for replacement or repair if you get in an accident this is where youcan save some money if you have enough in the bank to cover the cost of areplacement car should you need it even with high-deductible we would needto get into an accident every 5.2 years to make the collision insurance worth it we know this video is boring but with somany savers watching we knew it was too important to ignore so check out how much insurance youactually have and make sure they you have enough to cover your asses... assets.
luckily we learned this lesson theeasy way and not when it was too late the hard waybut let us know below if we missed anything and how muchinsurance you think i enough thanks for watching bye!
0 Response to "a and a car insurance"
Post a Comment