My insurance policy with Nationwide has been climing to what I now feel is unreasonable for an older 92 Tundra truck I have. I have been with same company for many yrs. (at least 15) So it's renewal time for this truck, and I got a few other quotes for same coverage. We do have to carry a $500,000 liability coverage on all vehicles due to an umbrella policy.
At any rate, I got other quotes for same coverage, and they came in between $560 to $664 per six months. With Nationwide, I have all the discounts, safe driver, no accidents or tickets, good credit, long term customer, multiple car discount, but my six month premium on this
truck is $887 for six months.
Nationwide has us in a "no cancel" policy (which I didn't know), also in an accident forgiveness policy (which I didn't know) and admits that their "uninsurred moterist coverage" is a bit high compared to other insurance companies $360 per yr. Problem is: moving my vehicles to State Farm, my umbrella policy jumps significantly, not warranting the move.
So currently, I am considering dropping the "uninsured motorist" insurance, which has a $100,000 limit on it and only covers medical claims in case of law suit against other driver if they are at fault. If you figure such a scenario and you are permanently disabled, $100,000 is a drop in the bucket, especially when you deduct your lawyers take. So it's not making a lot of mathematical sense to me to carry it.
Would like to hear your experience and thoughts on the matter. I need to decide soon.
At any rate, I got other quotes for same coverage, and they came in between $560 to $664 per six months. With Nationwide, I have all the discounts, safe driver, no accidents or tickets, good credit, long term customer, multiple car discount, but my six month premium on this
truck is $887 for six months.
Nationwide has us in a "no cancel" policy (which I didn't know), also in an accident forgiveness policy (which I didn't know) and admits that their "uninsurred moterist coverage" is a bit high compared to other insurance companies $360 per yr. Problem is: moving my vehicles to State Farm, my umbrella policy jumps significantly, not warranting the move.
So currently, I am considering dropping the "uninsured motorist" insurance, which has a $100,000 limit on it and only covers medical claims in case of law suit against other driver if they are at fault. If you figure such a scenario and you are permanently disabled, $100,000 is a drop in the bucket, especially when you deduct your lawyers take. So it's not making a lot of mathematical sense to me to carry it.
Would like to hear your experience and thoughts on the matter. I need to decide soon.