Over 150.000 insurance professionals and consumers come to the Insurance Forum every month. Click here to register for FREE


Go Back   Insurance Forums > Insurance Agents and Brokers Forum > Auto Insurance Forum

Reply to Rebuilt Vehicle : Coll + Comp - Insurance Doctor?     
Old 09-01-2017, 08:26 PM   #1
New Member
 
Join Date: Sep 2017
Posts:4
State: jetski is an Insurance Agent from
Rebuilt Vehicle : Coll + Comp - Insurance Doctor? Rebuilt Vehicle : Coll + Comp - Insurance Doctor?
Hello,

I recently purchased a Rebuilt 2013 Honda Civic LX for $8200 with 51K miles on it. I was able to get only liability coverage and I went with Geico for $140 for 6 months.

I reside in Virginia and found this company based in VA/NC called Insurance Doctor. They are quoting me $465 for 6 months for collision + comp coverage with $500 deductibles for both. I have never heard of this company before. If my car is totaled again because of my error, I may get a lousy % of the market value as the car is rebuilt, but I would like to have collision + comp coverage for the first 1-2 years until the value of my car depreciates substantially. I drive mostly for work and groceries and some nearby theaters for concerts (at most 900 miles per month ).

Questions:
1) Is Insurance Doctor a good company?
2) Is it worth investing $650 for insurance per year to get maybe 50% of the market value of my car in case its totaled again?

Thank you
------------------------------------
  Reply With Quote to Rebuilt Vehicle : Coll + Comp - Insurance Doctor?
Old 09-01-2017, 09:50 PM   #2
Super Genius
adjusterjack on Rebuilt Vehicle : Coll + Comp - Insurance Doctor?
 
Join Date: Jun 2017
Posts:242
State: adjusterjack is an Insurance Agent from Arizona
Rebuilt Vehicle : Coll + Comp - Insurance Doctor? Re: Rebuilt Vehicle : Coll + Comp - Insurance Doctor?
1) Is Insurance Doctor a good company?
Insurance Doctor is obviously an independent agent or broker representing several insurance companies.

Their website has links to local reviews:

http://www.myinsurancedoctor.com/

You can also check them out on review sites like Yelp:

https://duckduckgo.com/?q=insurance+...t=h_&ia=places

You can contact your state's insurance department to see if any complaints have been made.

You can also ask the agent the name of the insurance company that will be writing the policy they are quoting.

2) Is it worth investing $650 for insurance per year to get maybe 50% of the market value of my car in case its totaled again?
Only you can decide that after asking yourself do you have enough money in the bank ($5000 to $10,000 that you'll never touch) separate from your income and living expenses to instantly replace your car if it gets totaled or stolen and nobody pays you for it?

If you can truthfully say yes to that question then you can save yourself a lot of money if nothing happens to your car between now and when you are ready to sell it some years in the future.

I've had my 08 Crown Vic for 4 and a half years now. I can replace it for about $3500. I have that money stashed away and have probably saved at least $2000 by having just liability insurance for the past 4 and a half years.

PS: I suggest you get quotes for a complete policy from other direct writers and through other independent agents.

A lot of insurance companies will insure rebuilt vehicles for comp and collision along with the liability coverage.
------------------------------------
  Reply With Quote to Rebuilt Vehicle : Coll + Comp - Insurance Doctor?
Old 09-01-2017, 10:32 PM   #3
New Member
 
Join Date: Sep 2017
Posts:4
State: jetski is an Insurance Agent from
Rebuilt Vehicle : Coll + Comp - Insurance Doctor? Re: Rebuilt Vehicle : Coll + Comp - Insurance Doctor? jetski is the thread starter for: Rebuilt Vehicle : Coll + Comp - Insurance Doctor?

Hello Jack,

Thank you for such a detailed reply! It is very helpful.

1) I was told the insurance company that made the quote was Mercury Insurance. I will certainly call the state insurance agency and ask for complaints on them. Are you aware of this company? The online reviews are not good.

2) I will also look for other independent insurance companies. Do you have any recommendations?

I plan to keep this car for as long as I possibly can. My instinct was to have some protection in the first 1-2 years.

Thank you
------------------------------------
  Reply With Quote to Rebuilt Vehicle : Coll + Comp - Insurance Doctor?
Old 09-02-2017, 12:58 AM   #4
Super Genius
adjusterjack on Rebuilt Vehicle : Coll + Comp - Insurance Doctor?
 
Join Date: Jun 2017
Posts:242
State: adjusterjack is an Insurance Agent from Arizona
Rebuilt Vehicle : Coll + Comp - Insurance Doctor? Re: Rebuilt Vehicle : Coll + Comp - Insurance Doctor?
1) I was told the insurance company that made the quote was Mercury Insurance. I will certainly call the state insurance agency and ask for complaints on them. Are you aware of this company? The online reviews are not good.
The A. M. Best Company is to the insurance industry what Dun and Bradstreet is to businesses and Standard & Poor is to stocks and Moody's is to bonds.

There are a lot of companies named Mercury. I don't know if they are all related but the A. M. Best rating is not so great:

Search Results - Best's Credit Rating Center

2) I will also look for other independent insurance companies. Do you have any recommendations?
Google "independent agent" for your city and pick one close to where you live or work. Take a long lunch hour and walk in the door with your insurance papers and your car information and see what they can do for you.

There are many major insurance companies that quote and/or sell online. Several come to mind: Liberty Mutual, eSurance (an online agent), Travelers, Nationwide, Allstate, Progressive. You can walk in to any local State Farm or American Family office.

While it might be convenient to go online, it's always best for face to face with an agent who can call up the underwriter to make sure the company takes rebuilt vehicles.

I plan to keep this car for as long as I possibly can. My instinct was to have some protection in the first 1-2 years.
Again, that has to be up to you.
------------------------------------
  Reply With Quote to Rebuilt Vehicle : Coll + Comp - Insurance Doctor?
Old 09-02-2017, 02:26 PM   #5
New Member
 
Join Date: Sep 2017
Posts:4
State: jetski is an Insurance Agent from
Rebuilt Vehicle : Coll + Comp - Insurance Doctor? Re: Rebuilt Vehicle : Coll + Comp - Insurance Doctor? jetski is the thread starter for: Rebuilt Vehicle : Coll + Comp - Insurance Doctor?

Jack,

Sounds good. Thanks a lot!

Regards
------------------------------------
  Reply With Quote to Rebuilt Vehicle : Coll + Comp - Insurance Doctor?
Old 09-02-2017, 07:41 PM   #6
Super Genius
BADTROUT on Rebuilt Vehicle : Coll + Comp - Insurance Doctor?
 
Join Date: Jun 2010
Posts:53
State: BADTROUT is an Insurance Agent from Colorado
Rebuilt Vehicle : Coll + Comp - Insurance Doctor? Re: Rebuilt Vehicle : Coll + Comp - Insurance Doctor?
Good advice... I second the Indy Agent search... You'll never hear anyone regret getting professional advice, or a second opinion.
------------------------------------
  Reply With Quote to Rebuilt Vehicle : Coll + Comp - Insurance Doctor?
Old 09-03-2017, 10:42 AM   #7
New Member
 
Join Date: Sep 2017
Posts:4
State: jetski is an Insurance Agent from
Rebuilt Vehicle : Coll + Comp - Insurance Doctor? Re: Rebuilt Vehicle : Coll + Comp - Insurance Doctor? jetski is the thread starter for: Rebuilt Vehicle : Coll + Comp - Insurance Doctor?

Thank you, BadTrout!
------------------------------------
  Reply With Quote to Rebuilt Vehicle : Coll + Comp - Insurance Doctor?
Reply to Rebuilt Vehicle : Coll + Comp - Insurance Doctor? 

  Insurance Agent Forum > Insurance Forums > Insurance Agents and Brokers Forum > Auto Insurance Forum




Similar Threads with Rebuilt Vehicle : Coll + Comp - Insurance Doctor?
Thread Thread Starter Forum Replies Last Post
Doctor Not in Network? So What, Pay Cash Yagents Health Care Reform Forum 9 11-17-2015 09:42 PM
Carrier Comp Games...WTH?!?! Tkruger Health Care Reform Forum 16 03-31-2015 03:55 PM
Workers Comp Question indmedins Health Insurance and Ancillary Benefits 1 12-31-2008 09:18 PM
Somebody Get Me a Doctor! Selling tip #1 Guest General Insurance Agent Discussions 14 07-17-2008 08:07 PM
Time to get my feet wet The New Guy General Insurance Agent Discussions 30 04-04-2007 06:45 AM



All times are GMT -5. The time now is 12:30 AM.

Forum enabled with vBulletin®
Copyright ©2000 - 2017, vBulletin Solutions, Inc.


Join the Forum - It's FREE

Share This Page



Weekly Poll

Where do we go from here? POLL
Nothing - No ACA fixes - status quo
29.82 %
HHS Rulings and band aid bills
17.54 %
Hail Mary repeal and/or replace bill
17.54 %
A bipartisan bill to fix ACA
35.09 %

Voters: 57. This poll is closed