Truth Alert: Cars are a lot easier to replace than people!


This is True in all cases except the following:

1. Elected Officials.

2. American Idols

3. Actors on the T.V. Series "Lost"


(Ok, I embelished a little on the third one.)


Think about, even the famous Knight Rider doesn't even come close! What's it worth? $500,000 (it doesn't talk to you by the way. That is an actor...please tell me you already knew that!)


1 man making $25,000 per year with no pay raises will earn:

a. $1,000,000 without any pay raises over a 40 year working life.

If you haven't figured out that you and your family members are more valuable than your car by now please search the internet for a lower level course than I am willing to provide you with.

Therefore, the part of your insurance that covers your car is the LEAST of your worries! I digress...


Comprehensive Coverage:

Also Known as "Other than collision" comes in two packages. "All-Peril" or "Stated Peril" . All peril covers everything except what it specifically excludes. Stated Peril tells you what IS covered, not what it excludes. So, get an "all-peril policy". You will thank me later.

I have seen animals destroy cars. Fire, flood, ex-wives, ex-husbands, ex-girlfriends, ex-employees, etc. This is damage that is not caused by a collision thus it is called "Other Than Collision" coverage.


Deductibles:

Comprehensive coverage also covers your windows. If you live in an area where big semi's kick up big pieces of asphalt or rocks you want a low comprehensive deductible or a "separate" deductible for glass coverage.
Make your glass coverage deductible zero.

Comprehensive Insurance is dirt cheap with most companies and a claim against your Comprehensive Insurance will not be counted against you. Why, because the risk for the insurance company is low. Therefore they charge you a lot less.


Recommendations:

1. 500 deductible on comp.

2. Separate glass deductible (make it low. Say $50!)

3. High Liability and UIM Coverage because you are worth a lot more money than your car! You need to protect your income from people you hurt in an accident or that might hurt you!

4. If you make more than $60,000 you should also have an umbrella. I will talk about this later.


In Conclusion:

1. When things break, you can throw them away and nobody notices.

2. Do it to a person and you could end up on "America's Most Wanted"

3. The best way to avoid an accident is to drive like you really care about being in one.