SHO Insurance

[somedude_001]

no fault seems ridiculous to me

Alright. Here it goes..

In NYS there is what's called PIP coverage. That stands for personal Injury Protection coverage. The slang term is no-fault. This is a coverage that is mandatory $50,000 in NYS and everyone has it on their policy. Even if you dont have this coverage on yoru policy and you are insured in another state.. as long as you are driving through NYS, you have this coverage automatically. (Drive through state)

Now, the way it works. PIP coverage is first in line to cover any type of medical bills for you and any of your passengers in your car if you are in an accident. Remember, this is your coverage and not the other parties. They have their own PIP coverage. If you have any medical treatment at all that is related to this accident, it will go through your own coverage regardless of fault (Hence, no fault). There is no deductible that applies to PIP coverage.

The only way your medical bills would go on to the other guys policy is if you make a bodily injury claim against his policy. This is much harder to do in NY than in other states as NY has a bodily injury threshold that needs to be breached before you can make the claim. The threshold is basically a serious injury like broken bones, loss of limb, life threatening or death. You neck pains are considered a soft tissue injury and do not breach the threshold. So basically your insurance will cover you bills and that is that.

There is no "battling it out" between insurance companies when it comes to PIP coverage. That is a first party coverage and is there in case you are injured. There is only one or very few scenarios where your insurance company would go back after the other carrier for reimbursement or subrogation. I cant recall that off of the top of my head as it does not happen very often. Has something to do with the weight of the vehicle.

I work claims for a living so let me know if you have any other questions.

hopefully this clears this up.

 

[IM Buddy8]

Well I was paying almost $2800 a year last year for insurance and now about $2500 a year clean record but I'm 18 : ( Only companies like progressive will even give me a chance and it's for a high price. When I turn 19 I was told it should drop to like 1800-2000

 

[RonPorter]

...being an insurance adjuster here in Cali, I found this discussion to be very interesting.

You couldn't pay me to live in a state with no-fault coverage. It makes no sense at all.

People need to be held responsible and liable for their own mistakes.....and shouldn't have to pay for other people's mistakes.

Unfortuneatly, at least here in SoCal we have to over-insure ourselves because of all our wonderful friends south of the border that come here with no insurance, hit you and then flee the scene....

Doug

Well, those are the things that drive up insurance.

I have lived under both. Having to go after another insurance company to collect is a royal PITA and a huge time waste.

No-Fault takes the practical view that it's not "if" you will have an accident, it's "when". The money is saved by not having all of the inter-insurance sparring and legal wrangling. Plus, if I have an issue with a claim, I'm still their customer and I would rather work with my folks.

 

[yamahaSHO]

The SHO costs me nearly nothing... I think with 5 cars (one of which is the highest to insure in the country currently), two drivers, clean record, etc... we pay around $1800 a year.

My STi eats the majority of the cost. Quite worth the extra dough though.

 

[RonPorter]

The SHO costs me nearly nothing... I think with 5 cars (one of which is the highest to insure in the country currently), two drivers, clean record, etc... we pay around $1800 a year.

My STi eats the majority of the cost. Quite worth the extra dough though.

That's why I kept collision coverage on my original '89 SHO even after 10 years. The value of the car (insurance-wise) was worth the coupla hundred bucks for insurance coverage. The LGT has always been reasonable. It's the 2nd highest of our three daily-driven vehicles, but it's also the newest.

 

[SHOtimer]

That's why I kept collision coverage on my original '89 SHO even after 10 years. The value of the car (insurance-wise) was worth the coupla hundred bucks for insurance coverage. The LGT has always been reasonable. It's the 2nd highest of our three daily-driven vehicles, but it's also the newest.

I do the same. Full coverage on every vehicle. It is very worth it...in California it is basically paying for your insurance company to be offensive, not just defensive.

If you only have liab coverage here you just get walked all over....

Doug

 

[Racer X]

I pay $720 every 6 months for 100/300 LIABILITY.

I've never had an accident or DUI, and have 1 ticket from 2 years ago.

What goes on in NYC insurance-wise is most definitely not subsidized by the rest of the state.

 

[sholover719]

im paying 739.00 every 6 months with usaa which turns out to be about 123.00 every month this isnt bad considering i was paying 214.19 a month with the general auto insurance and thats with full coverage on my 94 sho and liability on my 1993 saturn and i have 2 speeding tickets and an improper driveing ticket with 50% or more at fault and i have roadside assistance and accident forgiveness so i think im doing pretty good here in virginia.

 

[SHOTT6]

$546 every 6 month here in Mich.:sun:

 

[thepawn]

Jersey here is a no-fault state.

I'm paying $750ish for the SHO and $420ish for the Lightning for 6/mo. $100 deductibles.