My mother signed me up for some extreme auto insurance, and I pay $150 per month. My coverage is 250/500. Browsing through some threads here, everyone recommends 50/100. Mint says I pay more than 80% than other people. I've spoken to some friends who pay $50 a month for minimum legal coverage.
However, when I type in my details into those awful auto-insurance comparison websites, they say that minimum legal coverage will cost me $50 per month, that 50/100 will cost me $150 per month, and 250/500 will cost me $200-$250 per month.
So apparently I'm paying $150 per month for 250/500 when somehow if I switched companies (even if I signed up with the same company today) I would only be getting 50/100 for the same price.
Honestly this all seems like a total scam to me. Is it even possible to cause 500K in damage in a single accident- that sounds ridiculous. I suppose totaling a Tesla and turning it's owner into a vegetable could rank up 500K. Yet I'm paying $100 more per month than my friends who get the minimum legal coverage and they seem to be doing alright. I don't want to be sued or go into bankruptcy, so I suppose 250/500 is a legitimate insurance policy.
Yet apparently I'm getting an extremely good deal, paying $150 for 250/500 when I ought to be paying $200/$250. WTF.
Submitted September 24, 2017 at 03:22AM by chinawcswing http://ift.tt/2wemjXL
