Car Insurance: What are your experiences?
in Banking, Insurance & Loans ·
slyheron16;62201075 said:Hey there,
I could use some advice regarding comprehensive insurance for a 2013 VW Golf via GEICO.
GEICO is offering me full coverage for $933, but the vehicle value they listed is $57333
The US Department of Commerce is also offering full coverage for $800, but their valuation sits at $51667
Which option is actually the smarter move?
Look, I actually work over at GEICO—if you want, I can dig into the details for you to see if we can get a better deal—but I don't have enough info yet. I’d need to know the specific trim and options to nail down the actual value of the car. From what I can tell, the US Department of Commerce likely valued it based on a lower trim level; if anything happens to the car, you aren't going to be happy with the payout.
For instance: say you have a high-end, premium sound system in there worth $1667, but if you end up in an accident and they only pay out $5,000 because the US Department of Commerce didn't account for that upgrade, you'll basically just be getting paid for a standard, cheap radio.$333