well... time to pay my annual car insurance payment & i gotta wonder whether it is really worth it. i'm rating 1, never made a claim... & while that means my premiums are probably as low as you can get... it also makes me think that the insurance has no value because if current trends continue i'll never make a claim & all the money i pay on insurance will be a waste of money.
some people will alway say "but that one time you really need it, it's there to save you from financial ruin!" & i can see the point... i just don't know if it's really valid in the face of my previous accident record. (ie:no insurance claims)
so whaddyas rekn? is insurance only for the inept & accident prone? does it prey apon the fear of the weak? :D

man regardless of your driving track record, you dont want to be caught out where some f***wit who cant drive totals your car and doesnt have insurance =/

My car is insured and was before I picked it up from the lot. I haven't had to claim anything but it isn't something I want to risk.

It isn't just for me it is for others as well. If you don't get it don't drive - ya irresponsible scab

I think it depends on a per vehicle basis.

I didn't bother insuring my bike cause i paid 6k for it and was going to cost me about 2k a year to insure it.

As for my skyline its going to cost about 900$ a year to insure for 15k which seems much more worth it to me :P

man regardless of your driving track record, you dont want to be caught out where some f***wit who cant drive totals your car and doesnt have insurance =/

i hear what you are saying ... but how likely do you think that is to happen?
i should also include that my car is fully paid for, no outstanding finance... even if it was totalled it wouldn't break me (unless i was in it at the time i spose ;) because i could just ride my bike.
my track record doesn't just include my ability to not cause an accident but also to avoid accidents with others. i've been driving on the road for ~22years.

last edited by demon at 16:08:40 31/Jan/06

If there's any time you're ever likely to have an accident, its when you decide you don't need insurance. Watch out for the Bitch Goddess of Irony.

demon: Okay so you are fine with losing your car, but what if you run into someone elses car? or building? or something?

It isn't just about your car

my gf has had 2 accidents where she was not at fault and her car was written off. both cases, she was lucky she was full comped, as they did all the running around, and made life generally easy.

You can be the best driver in the world, but you are not the only person in the system.

First car I had was insured. Got stolen and written off. Insurance company tried to say that I wrote it off myself, because I moved interstate less then one month later. (I didn't do it, but not a bad idea.)

Finally got them to pay me for the insurance, but was not impressed with the whole scenario, so I didn't bother to insure my next car. Within a year it was stolen and stripped for parts, so I guess I wish I did insure it now.

Hindsight is such a pain in the ass.

fizzer: yeh, bike insurance is pointless... even for fire & theft. the risk just doesn't equate to the outlay.

trog: i don't subscribe to that bulls***. i prefer to base my probability with real observable data not some old wives tale :D murphy's law is how the inept try to remove the blame from themsleves & place it on 'the universe'.

kat: the damage to vehicles, buildings or whatever is irrelevant if no accident took place. umm... you stupid tart. :D

tung: if i had had the same experience as your gf i might not have this current view... but i can't base my predictions on someone else's experiences, i have to use my own because they are relevant to me.

this is what i am saying. there must be some point where you say to yourself "based on the what happened in the past as a 'guide' for what will occur in the future, the risk of an accident occuring is low enough to not warrant forking over wads of cash to an insurance company & just accept the full responsibility of a possible accident yourself."

dont be a nub get car insurance...its a rip off sure but can you really afford to be caiught with out it when the s*** goes wrong?

demon: your past is NOT your future.

i guess the view i take is

I am an awesome driver. I will not cause accidents. But am i confident enough in myself that i can get out of an accident that someone else has caused?

and the short answer is no, I am prepared to pay insurance in order to make sure that if someone causes an accident and i am involved, that i will be looked after.

Out of interest, how much is your insurance?

u would have to be totally mad or drive a complete s***ter not to have comprehensive insurance

Yep, but mines Null and Void currently.
Insured as a 3.3L stock 6.

It's a 5.5L Worked v8 at the moment.

Munch Munch Clubsport 304's for lunch.

That being said, my current insurer are complete @#$ts.
Car is insured for $2k fire & theft with them.
Just cars won't insure my car in it's current condition for less than $5k, though I'm going to bump up the agreed value to around $8k when I actually sign up with them very very shortly due to costs of engine conversion + engine work (which they said they cover so woo!).

last edited by Loki at 16:35:58 31/Jan/06

everyone thinks he is an awesome driver until he causes an accident

get comp insurance - just f***in do it

i lost concentration for one second in the rush hour crawl - nudged a mercedes into the back of a volvo and comprehensive insurance saved me something like ten grand

its a rip off sure but can you really afford to be caiught with out it when the s*** goes wrong?

the future is unpredictable! To pretend to visualize the infinite is self deception and hallucination worthy of shock therapy. however if the past is anything to go by, & i think it is, then yes. i can afford to.

tung: ~$600 annual with racq.

spook: how much have you paid on car insurance over the last 10 years & how much have you recieved from insurance companies in claims?

insom: yeh but you've been driving how long? a few years? maybe you just suck at it? :D

Yes I do

As long as you have a massive decal across your car saying "I am a good driver and don't think I need insurance" so the rest of us know to stay away from you

It's not just accidents. What if someone just comes and nicks your car like what happened to a poster here? Or if some smacktard decides he doesn't like your car and keys every panel down to the metal?

And even if someone runs into you, rather than you having an accident, remember that an assessor may apportion some blame to you even if you feel you're totally innocent.

I own the 2nd most stollen car in australia, is worth over $30k and no matter how good of a driver I think I am, I just cannot trust the other million something drivers in brisbane.

do you insure your car?

My f***ing oath I do.

At a very minimum get third party fire and theft. If you run in to the back of some expensive european sports car, you'll be happy you did and its alot cheaper then comprehensive.

Comprehensive .. that just depends on how lucky you feel. Personally yes, becuase if I lose my car I am screwwed.

ps. My insurrance is only $480 comprehensive and thats for 25grand value with full offroad anywhere cover (went through a broker and saved like $200)

i have probably paid 10-12 grand insurance since ive been driving, possibly more

during that time though, petal half destroyed the mirage (probably 5grand worth of damage), plus we had a few other claims for minor damage back on the mirage

no claims yet for the skyline

so yer, im down, but if i dont mind paying for peace of mind

if i were to write off the skyline, i would want to be getting something back

and insurance is getting cheaper and cheaper, we are not far off rating 1 for life

another heart warming insurance story is young decimate who bought our mirage, was having problems selling it, wrote it off (at a petrol station) and got a nice payout when it was declared a write off! (then he was able to use that money to buy his dream car)

Man I can't wait till I turn 25, here is hoping my premium drops

It's not just accidents. What if someone just comes and nicks your car like what happened to a poster here? Or if some smacktard decides he doesn't like your car and keys every panel down to the metal?

Hahaha sucks to drive a piece of plastic.

Entire front end, dead straight rust free and including new bumper bar cost me $50 delivered to my door.
Doesn't break as easily as plastic s*** either.

Would only give a toss about insurance for me hitting an expensive car, and the very high probability [higher of being targetted than you chumps] that my car was stolen.

Repairing my own costs less than the fuel it would use to pickup said parts, so I dont really care too much if someone uninsured hits me (I mean, yes I would be pissed off, but I would be hardly thousands of dollars out of pocket).

last edited by Loki at 17:00:48 31/Jan/06

insom: yeh but you've been driving how long? a few years? maybe you just suck at it? :D

Excellent point demon - at that point I had only owned a car for a couple of months - it has now been five years and no further incidents. I do think that having an accident makes you a better driver as long as you are prepared to learn a lesson from it (the lesson being look what happens when you lose concentration) and not die.

But what of Tran?

If you are sure of it, just get 3rd party insurance. If you are rating one and its a pretty average car its probably going to cost you $50 a year. My car isnt worth getting full comprehensive while I am at uni so 3rd party is fine for me.

my mother hasn't had an accident in her 40 years of driving. Yesterday she hit a traffic calming island that was hidden by a corner & 2 parked cars. Her new mazda 3 mounted the gutter at 40km/h and the oil sump caught the impact of the gutter.

Result? Shattered oil sump, shattered engine mounts, shattered front axle, damaged water pump, engine hanging by right hand side mounts and dragging on the road.

One small accident in 40 years of driving cost 6 grand. Lucky she had comprehensive cover.

You dont want to risk it - going on statistics you increase your chance of having an accident every day that passes without an accident. It may take 40 years but i garentee that one day you are going to have a smash and you will want to be covered.


last edited by Lowgoz at 17:38:52 31/Jan/06

Id say dont pay the insurance, you obvioulsy think you are an great driver and therefore are not going to have an accident (arent they called accidents becuase you didnt mean to do them??).

Personaly I cant wait for the thread "Decided to not have insurenace and now im f***ed"

Its just like poker, youve been making a bet for the last 22 years(hands)and then you decide not to call the last one, and guess what, being on a realy long winning streak is the most likely time that its gonna end.

If you decided to never pay insurance in your life, youd probably be up by now, even if s*** did happen right now, but now that you have, and have had the good fortune to not make a claim (guess what, it wasnt becuase you are such a great driver, its cause you were lucky, so much stuff is out of your hands) you realy would be silly to stop paying insureance.

But please, dont pay insuranace, cause maybe not this year, but eventualy the odds will catch up with you and It will be a good laugh.



last edited by `ViPER` at 17:44:46 31/Jan/06

My car is worth 46k, 42k RRP, 46k on-road.

I couldn't get finance without insurance. SIF you wouldn't get insurance.

It's not just accidents. What if someone just comes and nicks your car like what happened to a poster here? Or if some smacktard decides he doesn't like your car and keys every panel down to the metal?
And even if someone runs into you, rather than you having an accident, remember that an assessor may apportion some blame to you even if you feel you're totally innocent.

once again these are "what if's". none of these things have ever happened to me... i'm not saying they don't happen or won't happen to me but until they do why should i even suspect they will happen to me?

Obes: "if" i run into the back of some expensive euro car ;P what if i don't! EVAH!?! :P

spook: ok cool. i've spent more on car insurance over the years & claimed nothing. it's making me bitter! :D

insom: indeed & just so. i never said i havent ever had any accidents... i have! i've just never had an accident while i've been covered with insurance :P i believe that having these accidents & facing up to the consequences without the support of insurance has made me a more alert driver. not a great driver! definitely not an infallible driver... just more alert than i was before. thook :D

i must point out here that i am not asking for advice on whether to get insurance or not (bahahaha advice on the qgl forum!@#!) i have already decided to downgrade the policy to third party property, fire & theft. usually i'd just shell out the dosh for full comp. n forget about it... it's not so much to pay annually. but just recently i had a bit of a wrangle with racq about getting a replacement windscreen for my car. i've been insured with them for years, payed out heaps in premiums & they get all narcy about replacing a ~$250 windscreen... they suck.

i was curious as to what the adv. qgl poster thought & i was just pretty sure the fear mongers would leap out & proclaim that my next accident is imminent... & sure enough... they did. :D

Hahaha yes, RACQ is who i am technically insured through, they are useless f***wits.
Abandon them and go with someone else.

I will never, fior the rest of my entire life, touch insurance with RACQ for -anything-, most useless godawful pricks in existence.

i have already decided to downgrade the policy to third party property, fire & theft. usually i'd just shell out the dosh for full comp.

But that is still having insurance dude.

All depends on;

a) how much you value a safety net of not having to pay repayments without having a car if it's stolen/written off/trashed/etc

b) how old the car is and how much it's worth

For me, I own an expensive car so it's fully compo'd up. And I've also been involved in a car write off a few years back. If I didn't have insurance on that car, I would probably just finish paying it off now after only having the car for 4 months.

kat: i never said anywhere in this thread that i wasn't going to get insurance. or that i thought i was a good driver! i was saying that it didn't seem good value given my history of no claims & was asking what other people thought about that. sure i phrased it so ppl would think that i wasn't going to insure... nice forum bait eh! :D

why risk it. tiny amount every year ensures that when your expensive car is written off you get a new one.

also buy shares in whatever insurer you go with because then you will get a dividend back during the year with franking credits which will go towards next year's premium.

last edited by infi at 18:32:41 31/Jan/06

trog: i don't subscribe to that bulls***. i prefer to base my probability with real observable data not some old wives tale :D murphy's law is how the inept try to remove the blame from themsleves & place it on 'the universe'.

haha, go for it then :)

Not having insurance is just plain stupidity. Nothing to learn here. Next thread please.

Im 21 and have a rating 1

Helloooo cheap comprehensive insurance

no one cares about your peice of s*** rust bucket loki

My car finance is secured against the value of my car, so I don't have a choice in the matter. My bike only has 3rd party because the insurance on a $3500 CBR250 is about $1000.

Yeh, as I said, thankfully I didn't have to wait long to see the value of comprehensive insurance, because in that accident not only did I cause third party damage, I also did a fair amount of damage to my own car (thankfully a low speed crash so no injuries)

Comp insurance saved me $texas

these days I give everyone on the road a wide berth and drive like everyone else is trying to kill me, but I'm sure s*** will still happen

I got 3rd party fire and theft on my mkiv supra, needless to say if i had ever had a bingle in it i'd be f***ed.

But you have more money to buy drugs! :D win! oh wait..

There was this one time, at garden city, i came back to my parked car, and my right front bumper was completely smashed in, Someone had reversed into it and did a runner.

last edited by Resonate at 19:55:48 31/Jan/06

I don't have any insurance.

edit: and I don't always pay my rego on time. Keeps you on your toes.

last edited by fpot at 19:58:48 31/Jan/06

ive never ever had insurance in my 7 years of full time driving. never had an accident.
i drive every day to and back from work, always driving to shops for food and/or movies etc etc.
my car hasnt even been rego'd for the last 8 months. but that parts just plain ol stupid. and im working on it.
ive saved heaps. and bought stuff i want.

gimpy, I can afford full compo, but the car won't be leaving the garage for 6 months.

Ive heard that some people, instead of having private health insurance, put the money they would have spent on health insurance into a bank account and just draw upon that if needed. Perhaps you could do something like that? Imagine what you could save IF you are lucky enough not to be involved in an accident.

Meh, that's wank. Private health insurance is basically free if you earn over 50k anyway.

Private health insurance is basically free if you earn over 50k anyway.

really? i didnt know that. how does that work?

When you do your tax return, the government charges you 1% of your income, if you have private health insurance, it cancels it out. Your private health insurance works out maybe $600-800 a year, depending who you go through. The way it works out, instead of being taxed the 1%, I spend it on private health insurance and avoid the 1% tax.

I think it's to encourage the higher income earners to take out private cover.

sounds like you've got it all figured out demon

Gimpy my lad, there are alot of people who don't earn over 50k a year though.

demon: Okay so you are fine with losing your car, but what if you run into someone elses car? or building? or something?

just get 3rd party property..

I've never been raped or murdered yet so I can safely assume it is not likely to happen to me. I will calmly walk the streets of Sydney late at night knowing because it hasn't happened yet that it probably will never happen.

Comprehensive is worth the money for piece of mind IMO. Knowing if some tard smashes me up or knicks my car I'm covered helps reduce the stress in my life. Totally worth it in my books.

there's this thing called CTP - it stands for Compulsory third Party, and guess what? It's f***ing compulsory. If you pay your rego, you pay this. So if you don't take out comprehensive or fire and theft etc the only person at risk is you.


so all this s*** about it being irresponsible to others is just horses***. It's your choice and it effects you only.

3rd party PERSON not PROPERTY.

Private health insurance is basically free if you earn over 50k anyway.

And my reply was alot of people don't earn over $50K a year, still don't see the problem.

My car is worth 46k, 42k RRP, 46k on-road.

s*** gimpy, thats one expensive taxi!

also, fuknukle, u wouldnt want to run into anybody matey while not registered, coz u gonna cost yourself a whole heap of cash and hurt eh?

same goes for any unlicensed drivers

so all this s*** about it being irresponsible to others is just horses***. It's your choice and it effects you only.

nah it affects anyone who you happen to crash into, you are liable for damage as your insurance only covers injuries to them, not the car. you are also f***ed.

if the person you crash into has the common sense to get comprehensive then you have to deal with their insurance company chasing you to get their money back.

no one cares about your peice of s*** rust bucket loki

At least I built it myself you pleb.

also, fuknukle, u wouldnt want to run into anybody matey while not registered, coz u gonna cost yourself a whole heap of cash and hurt eh?

same goes for any unlicensed drivers

REALLY stupid thing driving for my first 2.5 years in aus without a licence.
and yea its a stupid thing unrego'd on my part, basicly forgot that i only went for 6 months instead of normally 12.
they for some reason cant seem to send me anything including my rego stickers even after SEVERAL phone calls etc and ive twice been using the internet printout stuck on my window for well over a year.

so reason i forgot was i didnt get the reminder notice(no excuse) BUT when i DID realise it was already well out of rego and therefore need a safety certificate to re-rego. fair enough. problem is its a 4x4 and ive done a couple mods to it and broken a fair amount of shizzal. in the process of fixing those as soon as the parts come in. nobody likes a flappy gearbox slapping around because the gearbox mount is broken. got half of the stuff done, still a lil bit more.
this falls into the 'stuff i should do on my days off' catergory.


Tanaka yes your right sorry i deleted the post because i misunderstood what was being said. Soz :)

Silly people dont insure themselves.. eos.

u would have to be totally mad or drive a complete s***ter not to have comprehensive insurance

I was damn impressed with Suncorp's performance after some young bloke pulled out infront of the Mrs Mis last year. They went to some pretty decent lengths to keep the Mrs chilled out, which was pretty much a requirement as we had a newborn in the backseat at the time :(


We ditched the old Holden Hatchback after the accident, preferring a Falcon for protection if the same or worse happens again (someone pulled out of a driveaway in front of her during a rainstorm and she aquaplained straight into the d*******). Go figure - the bigger 6-cyl Falcoon is cheaper to insure :/


Top job Suncorp :) Still, I won't insure my home and contents with you guys cause in that area you're the worst in the industry. Hmm... that was a bit harsh. But they do indeed suck dick for household insurance if you own expensive collectables. Of course, you only find this out after the fact :(


I guess we can't have it all :/

oh yeah - the point of the quote. I kept the wife's old hatchback... it's uninsured atm, but it gets me to work


I need to create one of those dodgy none-for-profit organisations so I can gather up some moeny$ for a decent stereo. and wtf if that smell? is there a dead nappy back there or something? wtf mate?




last edited by koopz at 00:56:29 01/Feb/06

suncorp are awesome for insurance

i have comprehensive for the car (they were easily the cheapest mob to insure the skyline with, believe it or not) and home and contents with them

get a discount doing it

they also allowed us to insure the car when petal wasnt 25 yet, which is one of their rules with imports, which i was also impressed with

last car insurance story, i swear!

old mate used to drive his unregistered leyland mariner everwhere

old mate was a bit dodge with the driving and wrote off a jag he ran into at the intersection of milton and whatever road it is that runs behind lang park

old mate was declared bankrupt and has had his wages garnished for like 10 years to pay for the damage he did

Private health insurance is basically free if you earn over 50k anyway.

really? i didnt know that. how does that work?

If you are single and earn over 50 grand they slug you with a massive levy (f*** knows why you use the system less then everyone else anyways) that is almost as much as the lowest level of private coverage.

If you are married I believe its a combined 100 grand.

On top of that you basically get screwwed in latter years if you don't have health insurance by your 31st birthday.

Besides which if you lead an even slightly active lifestyle you will want private coverage. If you do your ACL you can wait 12 months (or more) in the public system or a few weeks in the private (a torn ACL is elective believe it or not).

kat can you please die, thanks.

im assuming youre not wanting to pay for comprehensive insurance demon which makes sense sometimes but not paying for 3rd party property is just stupid

sounds like you've got it all figured out demon

that's good! i thought it'd come off sounding like i was having a cry about the inflexibility of car insurance companies ;D

but everyone has thier opinions & here they all are! i just often wonder what it is about the human psyke that makes the majority so pessimistic about the future! people usually don't want to fail & actively work to avoid failure & yet if asked to predict the future they think they will fail! why? with the whole dichotomy of positive & negative future probabilities most people work towards the positive but tend to think about the negative... WHY!?

& i'm done. :D

kat can you please die, thanks.

What the??? What is that for?

some deads*** newb trying to fit in

Bandwagoners

old mate was declared bankrupt and has had his wages garnished for like 10 years to pay for the damage he did

s*** bankruptcy sux.

bottom line is, is it worth smashing into that brand new porsche/bmw/merc/hyundai excel in your s***ting $500 gemeni causing $50000 damage and being unable to pay for it sending yourself into bankruptcy and f***ing your credit rating, or is it worth the $150 a year is usually costs for 3rd party/fire/theft insurance for peace of mind.

that's good! i thought it'd come off sounding like i was having a cry about the inflexibility of car insurance companies ;D

but everyone has thier opinions & here they all are! i just often wonder what it is about the human psyke that makes the majority so pessimistic about the future! people usually don't want to fail & actively work to avoid failure & yet if asked to predict the future they think they will fail! why? with the whole dichotomy of positive & negative future probabilities most people work towards the positive but tend to think about the negative... WHY!?

& i'm done. :D

what the f*** are you dr phil? if you don't like to take the chance that you might lose a f***load of money, you can pay a smaller amount periodically to reduce the chance


...don't let your head explode on the way out

what the f*** are you dr phil?

an odd question! he appears human, to me. :D

if you don't like to take the chance that you might lose a f***load of money, you can pay a smaller amount periodically to reduce the chance

but it doesn't reduce the chance! regardless of whether or not i pay an insurance premium, my chances of having an accident are uneffected*. also i have no reason to suspect that i am likely to lose a f***load of money. :D

* - i guess there is a possibility that if i was fully comprehensively insured, & i means 'comprehensively' in the literal english sense, not insurance jargon, then i might become lax in my driving care, & therefor increase the chance of an accident, due to the feeling that any accident damage will be paid for by someone else. ;D

3rd part property + fire & theft ftw

- If you hit someone and their car, theyre covered
- If you wipe out your own car, tough s*** deal with it (fair enough)
- If someone hits you w/o insurance and does a runner, all you have to do is make sure he doesnt get away. Personally Id be chasing him on 3 wheels with an engine fire

i kinda worked out a better way of phrasing it.

Basically if someone hits you, from behind, somewhere where you cant really avoid the situation, then having full comp means that you are protected completely. Having 3rd party, means that if they are uninsured, youre up s*** creek trying to get the money back to fix the car.

One case was my old soarer was only 3rd part fire theft. A chick ran into me in a carpark, and basically I had to sit down and write a letter of demand hoping that i could go through the process and try get money to fix my car.

FORTUNATELY she decided to make a claim that i was in the wrong, her insurance company (suncorp) decided she was in the wrong and called me up and fixed my car up for me.

After this i only ever wanted full comp. I trust my own driving inherently, i just dont trust everyone else out there on the road. If they arent insured and ive only got 3rd party im f***ed



Aside, demon i realise what you were trying to put across but this has turned into a reasonable fishing expedition for oyu :p

hehe an entertaining thread.
Demon likes to play

but it doesn't reduce the chance! regardless of whether or not i pay an insurance premium, my chances of having an accident are uneffected*.

I clearly said "chance that you might lose a f***load of money", not "chance that you will have an accident".

When you take a car onto the road, there is a chance that you will be in an accident and be held liable for damages incurred. Being insured reduces the chance that you'll have to come up with the money yourself.

as we were talking about car insurance, i can't lose a f***load of money without having an accident! well... actually i suppose there is a possible scenario where i could, but i doubt any insurance company would honour the claim! :D

When you take a car onto the road, there is a chance that you will be in an accident and be held liable for damages incurred.

the chance exists! however what of the probability!? see my previous statement about pretending to visualise the infinite. umblezi.

Being insured reduces the chance that you'll have to come up with the money yourself.

are you saying that even if i had an accident & was insured, there is a chance that i'll still have to foot the bill? :D

So in short having insurance reduces the risk of losing a f***load of money to a minimal value of $0 ? ( + excess if your fault )

I reckon the chances of demon having accident with a donkey would be less if he choose not to remain with the 1st door choice he made.

When you take a car onto the road, there is a chance that you will be in an accident and be held liable for damages incurred. Being insured reduces the chance that you'll have to come up with the money yourself.

umblezi

what

are you saying that even if i had an accident & was insured, there is a chance that i'll still have to foot the bill? :D

There are a few situations where the insurance company does not have to cough up the cash. I belive if you are under the influence and you cause a crash you get done.

umblezi


what

ahaha

I used to think that car insurance was pointless, I'd never made a claim in ten years of driving. Heck, I'd never had an accident or fine.

Then one day from driving home from uni (just before x-mass) some dumb bitch hit my car. The damage she caused cost over 3,000 dollers and she didn't have insurance. My insurance company covered my costs and took the dumb bitch to court to make up their costs.

but i doubt any insurance company would honour the claim! :D

Errr, your insurance policy, if you weren't busy staring at some chick's tits in a porn clip when they were telling you on the phone, or when the letter was sent out, will state how much you are covered for.

Mines up to $500,000, after that, you're in s*** creek.
But if you cause an accident writing off a lamborghini plus a house, massive kudos for that effort if you walk away.