Sir F. A. Rien, wrote the following at or about 6/29/2007 3:07 PM:
Haven't found that to be the case with The Hartford (AARP. This thread
caused me to check the past three annual premiums. $1539 in 2004 and
$2007 in 2006. That seems like a big change BUT the coverage has
remained constant with no changes to the limits, etc., there have been
no claims BUT the number/type of vehicles insured has been a moving
Currently they are insuring a '01 Buick Park Av, '03 Chrysler T&C, '06
Honda Accord and '94 Corvette convertible. A fifth car was on that
$2007 billing which has since been sold so they haven't been playing the
"Merry Go Round" game with me. It's not worth the time and effort to
pro-rate the premiums based on acquisition dates and sale dates to
figure out an exact increase/decrease. Suffice it to say it's pretty
stable. There's been some fluctuation in premiums on the individual cars
but very nominal and not always an increase.
WE have saved thousands by such techniques as cutting down on total insured
value--what do we really NEED. Some things are cheaper to rent for a day or
two every year or so than to BUY and have to maintain, register and insure.
Similarly, by increasing deductibles and by NOT having expensive glass or
unnecessary coverage. It is also very, very foolish to make small claims.
SELF-insuring is the CHEAPEST insurance possible--that's why larger
companies and local governments have deductibles of several million--if you
can AFFORD to pay a claim, it is cheaper to pay out the rare smaller type
claim then it is to have a LOW deductible and pay higher premiums for it,
year AFTER year AFTER year. Premium savings can be invested and earn a LOT
more than hypothetical claims, covered, can save you.
I've been on this earth long enough to see where wastefuly, spendthrift ways
has gotten many people. A whole lot of people *look* well off...until
someone who is privy to their finances, such as myself, as a close look. As
often as not, a majority of people are 2 or 3 pay cheques away from a
financial crisis. I learnt that by observation AND by personal experience.
It all depends. I don't worry much about carrying an extra car, but my home
is mine free and clear and I could retire now if I didn't love what I do so
much, and I'm a long ways off from collecting any SS or from pulling from
IRA or 401k investments.
I've spent many years scrimping, and now I prefer (and can afford) not to.
Agreed. However, we have cut down to just one dependable vehicle. If we
REALLY need a truck to haul something, it can be rented for a LOT cheaper
than BUYING a truck, registering, insuring and maintaining it. Never mind
cluttering up the yard or street with it.
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