A little off topic but I want to share my thoughts. I used to despise auto insurance companies. I hated the fact that the state forced me to purchase a policy and if I didn't get in to an accident there went my $1200 dollars. Gone.

Last year I had an accident. I did $14,000 dollars damage to my car. I am glad the $900 I had paid last year covered the $14,000 in damages, that would have hurt if I had been denied due to misleading the insurance company just to save a few hundred bucks (which I have done in the past but no more )

I think totally differently about insurance now. I am glad theres a company to take care of my car if something happens like my seats get stolen or some dick decides to vandalize my car.

Think about the 6 month or yearly cost for your policy. Is it a whole lot compared to what some of the parts on these cars cost? no.

 

I've had 2 car's stollen and because of good standing I was compensated with no questions asked.

In fact that's how I ended up with the S2000.....I purchased it with the settlement money from the theft.

 

Thanks all for your opinions. In the end, I think this was my favorite ^

You all have helped shed some light (actually, a LOT of light in the case of hirev... maybe too much light ) on an unfamiliar topic. Hopefully I'm not the only one who learned a little bit.

 

what if you reside in 2 places? use the cheaper zipcode to insure. is that fraud?

 

From what I understand after speaking with an agent, anywhere you spend 50% of your time can be considered a valid zip code.

So if you reside in 2 places and it's split more or less evenly between the 2, you have every right to insure your car in the cheaper of the two. LEGALLY.

If it's split less than evenly... well, then you get to read this entire thread from start to finish again

 

You have to choose the zip code where you primarily reside at.

 

This may be true (I don't feel like double-checking it) but it is also true that there are plenty of companies that are very profitable, like Progressive--your employer. I don't know if it was nationwide or just in New Mexico, but in 2004 they had a combined ratio of around 86%. That's huge; most companies are happy with 95%

 

are you sure its not because you have a lot of tickets or accidents or live in a congested area? my brother lives in the state with the highest insurance costs in the country and he only pays $500 each year for THREE cars.

I bet you are either young (<25), unmarried, dont own a house, or just a dumbass driver who can't stop getting tickets or into accidents.

 

Then why is a resident of New Jersey REQUIRED to get insurance? If you can't choose NOT to have insurance, then how can you say that? You have to have insurance and the state forces insurance companies to provide insurance to everyone who asks.

 

Wrong, you don't have to have insurance. If you can't afford it, or no one in your area will write you, then you're going to be walking.