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Insurance... how does it work?

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Darkside

Post subject: Insurance... how does it work?

Posted: Mon Dec 27, 2021 10:12 pm

Joined: Wed Jun 28, 2006 9:29 am
Posts: 65751
Location: Darkside Estates
pizza_Place: A cat got an online degree.

It seems that you pay an insurance company something called premiums.
In exchange, the company covers you from risks outlined in something called a policy.
You can insure a home; your life, a car, your health, or a flute.

_________________
"Play until it hurts, then play until it hurts to not play."
http://soundcloud.com/darkside124 HOF 2013, MM Champion 2014

bigfan wrote:

Many that is true, but an incomplete statement.

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The Missing Link

Post subject: Re: Insurance... how does it work?

Posted: Tue Dec 28, 2021 12:40 am

Joined: Wed Jun 02, 2021 5:29 am
Posts: 15235
pizza_Place: Eduardo's

Darkside wrote:

How does insurance "work" for a 22 year old car? I'm LITERALLY asking for a (your) friend? Seemingly he has no clue. I'm shocked that he does not by the way.

Quote:

Police at the scene described the suspect as a Black male who stood about 5’8″ tall and wore all black clothing and a face mask. The victim’s car is a white 1999 Toyota with an Indiana license plate that begins with 468, according to the police report.

Juice's Lecture Notes wrote:

"It's not that bad, the car he stole wasn't even that valuable!"

The Missing Link wrote:

Not valuable enough for full coverage apparently.

Frank Coztansa wrote:

You continue to display that you haven't the faintest notion on how insurance actually works.

_________________

pittmike wrote:

Technically I was drunk (big surprise) and asked her if she liked a tongue up her ass.

Frank Coztansa wrote:

Again, your comprehension needs work.

Last edited by The Missing Link on Tue Dec 28, 2021 1:01 am, edited 5 times in total.

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Dr. Kenneth Noisewater

Post subject: Re: Insurance... how does it work?

Posted: Tue Dec 28, 2021 12:51 am

Joined: Fri Oct 20, 2006 9:15 pm
Posts: 48800
Location: Bohemian Club Annual World Power Consolidation Conference & Golf Outing
pizza_Place: World Fluoridation Conspiracy Pizza & WINGS!

I’ll bet there’s more going on with this thread than one might initially understand at face value….

_________________
You know me like that.

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Franky T

Post subject: Re: Insurance... how does it work?

Posted: Tue Dec 28, 2021 7:40 am

Joined: Fri Feb 19, 2010 8:04 pm
Posts: 9960
pizza_Place: world famous

Maybe denis knows?

_________________

Nas wrote:

We lose a lot of rights when we look the other way when it doesn't affect our lives or it isn't a cause we agree with.

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Darkside

Post subject: Re: Insurance... how does it work?

Posted: Tue Dec 28, 2021 7:44 am

Joined: Wed Jun 28, 2006 9:29 am
Posts: 65751
Location: Darkside Estates
pizza_Place: A cat got an online degree.

The Missing Link wrote:

Darkside wrote:

How does insurance "work" for a 22 year old car? I'm LITERALLY asking for a (your) friend? Seemingly he has no clue. I'm shocked that he does not by the way.

I believe it works the same for a 22 year old car as described above. You pay a premium and in exchange the company covers you from risks outlined in something called a policy.

_________________
"Play until it hurts, then play until it hurts to not play."
http://soundcloud.com/darkside124 HOF 2013, MM Champion 2014

bigfan wrote:

Many that is true, but an incomplete statement.

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The Missing Link

Post subject: Re: Insurance... how does it work?

Posted: Tue Dec 28, 2021 7:49 am

Joined: Wed Jun 02, 2021 5:29 am
Posts: 15235
pizza_Place: Eduardo's

How prescient are "WE"? Just Asking A Question

Nardi wrote:

It will be a new low for CSMB if there is a "how insurance works" debate.

_________________

pittmike wrote:

Technically I was drunk (big surprise) and asked her if she liked a tongue up her ass.

Frank Coztansa wrote:

Again, your comprehension needs work.

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The Missing Link

Post subject: Re: Insurance... how does it work?

Posted: Tue Dec 28, 2021 7:51 am

Joined: Wed Jun 02, 2021 5:29 am
Posts: 15235
pizza_Place: Eduardo's

Darkside wrote:

The Missing Link wrote:

Darkside wrote:

How does insurance "work" for a 22 year old car? I'm LITERALLY asking for a (your) friend? Seemingly he has no clue. I'm shocked that he does not by the way.

I believe it works the same for a 22 year old car as described above. You pay a premium and in exchange the company covers you from risks outlined in something called a policy.

Insurance "doesn't work the same" for a 22 year Old Car as it does for a New Car. And the "as described above" is just convenient spin. As expected in fact.
Insurance involves more than just "paying a premium" and anyone who deals with insurance knows this.

_________________

pittmike wrote:

Technically I was drunk (big surprise) and asked her if she liked a tongue up her ass.

Frank Coztansa wrote:

Again, your comprehension needs work.

Top

Darkside

Post subject: Re: Insurance... how does it work?

Posted: Tue Dec 28, 2021 8:00 am

Joined: Wed Jun 28, 2006 9:29 am
Posts: 65751
Location: Darkside Estates
pizza_Place: A cat got an online degree.

The Missing Link wrote:

Darkside wrote:

The Missing Link wrote:

Darkside wrote:

How does insurance "work" for a 22 year old car? I'm LITERALLY asking for a (your) friend? Seemingly he has no clue. I'm shocked that he does not by the way.

I believe it works the same for a 22 year old car as described above. You pay a premium and in exchange the company covers you from risks outlined in something called a policy.

Are you suggesting that you cannot have comprehensive coverage on a car once it reaches a certain age?

_________________
"Play until it hurts, then play until it hurts to not play."
http://soundcloud.com/darkside124 HOF 2013, MM Champion 2014

bigfan wrote:

Many that is true, but an incomplete statement.

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The Missing Link

Post subject: Re: Insurance... how does it work?

Posted: Tue Dec 28, 2021 8:24 am

Joined: Wed Jun 02, 2021 5:29 am
Posts: 15235
pizza_Place: Eduardo's

Darkside wrote:

The Missing Link wrote:

Darkside wrote:

The Missing Link wrote:

Darkside wrote:

How does insurance "work" for a 22 year old car? I'm LITERALLY asking for a (your) friend? Seemingly he has no clue. I'm shocked that he does not by the way.

I believe it works the same for a 22 year old car as described above. You pay a premium and in exchange the company covers you from risks outlined in something called a policy.

Are you suggesting that you cannot have comprehensive coverage on a car once it reaches a certain age?

What I stated in regards to this was made in my quote.

Juice's Lecture Notes wrote:

"It's not that bad, the car he stole wasn't even that valuable!"

The Missing Link wrote:

Not valuable enough for full coverage apparently.

Frank Coztansa wrote:

You continue to display that you haven't the faintest notion on how insurance actually works.

And since Ballpark couldn't tell me how this was incorrect perhaps (as you are want to do) you can. Let's go!

_________________

pittmike wrote:

Technically I was drunk (big surprise) and asked her if she liked a tongue up her ass.

Frank Coztansa wrote:

Again, your comprehension needs work.

Top

Brick

Post subject: Re: Insurance... how does it work?

Posted: Tue Dec 28, 2021 8:29 am

Joined: Wed Jun 21, 2006 6:57 pm
Posts: 92041
Location: To the left of my post

ltg,
If you had a car worth $1, would it be worth it to get comprehensive coverage over liability coverage?

_________________
You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!

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Seacrest

Post subject: Re: Insurance... how does it work?

Posted: Tue Dec 28, 2021 8:36 am

Site Admin

Joined: Wed Jun 08, 2005 6:45 pm
Posts: 38329
Location: Lovetron
pizza_Place: Malnati's

Brick wrote:

ltg,
If you had a car worth $1, would it be worth it to get comprehensive coverage over liability coverage?

The state of IL requires liability insurance.

It doesn't require full coverage unless you have a loan out on the vehicle.

The mafia are probably the only people willing to offer a "loan" on a vehicle that old.

_________________

Joe Orr Road Rod wrote:

The victims are the American People and the Republic itself.

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Brick

Post subject: Re: Insurance... how does it work?

Posted: Tue Dec 28, 2021 8:37 am

Joined: Wed Jun 21, 2006 6:57 pm
Posts: 92041
Location: To the left of my post

Seacrest wrote:

Brick wrote:

ltg,
If you had a car worth $1, would it be worth it to get comprehensive coverage over liability coverage?

The state of IL requires liability insurance.

It doesn't require full coverage unless you have a loan out on the vehicle.

I'm asking if it would be a good idea, because from what I can tell, ltg doesn't think that comprehensive coverage is worth it on low value cars.

_________________
You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!

Top

Seacrest

Post subject: Re: Insurance... how does it work?

Posted: Tue Dec 28, 2021 8:41 am

Site Admin

Joined: Wed Jun 08, 2005 6:45 pm
Posts: 38329
Location: Lovetron
pizza_Place: Malnati's

Brick wrote:

Seacrest wrote:

Brick wrote:

ltg,
If you had a car worth $1, would it be worth it to get comprehensive coverage over liability coverage?

The state of IL requires liability insurance.

It doesn't require full coverage unless you have a loan out on the vehicle.

I'm asking if it would be a good idea, because from what I can tell, ltg doesn't think that comprehensive coverage is worth it on low value cars.

You don't get to choose between liability and comprehensive insurance.

You are paying for liability no matter what.

_________________

Joe Orr Road Rod wrote:

The victims are the American People and the Republic itself.

Top

Brick

Post subject: Re: Insurance... how does it work?

Posted: Tue Dec 28, 2021 8:45 am

Joined: Wed Jun 21, 2006 6:57 pm
Posts: 92041
Location: To the left of my post

Seacrest wrote:

Brick wrote:

Seacrest wrote:

Brick wrote:

ltg,
If you had a car worth $1, would it be worth it to get comprehensive coverage over liability coverage?

The state of IL requires liability insurance.

It doesn't require full coverage unless you have a loan out on the vehicle.

I'm asking if it would be a good idea, because from what I can tell, ltg doesn't think that comprehensive coverage is worth it on low value cars.

You don't get to choose between liability and comprehensive insurance.

You are paying for liability no matter what.

What are you arguing about? It's very common to refer to you having either liability insurance or comprehensive insurance. Comprehensive insurance includes liability insurance too.

_________________
You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!

Top

Seacrest

Post subject: Re: Insurance... how does it work?

Posted: Tue Dec 28, 2021 8:48 am

Site Admin

Joined: Wed Jun 08, 2005 6:45 pm
Posts: 38329
Location: Lovetron
pizza_Place: Malnati's

Brick wrote:

Seacrest wrote:

Brick wrote:

Seacrest wrote:

Brick wrote:

ltg,
If you had a car worth $1, would it be worth it to get comprehensive coverage over liability coverage?

The state of IL requires liability insurance.

It doesn't require full coverage unless you have a loan out on the vehicle.

I'm asking if it would be a good idea, because from what I can tell, ltg doesn't think that comprehensive coverage is worth it on low value cars.

You don't get to choose between liability and comprehensive insurance.

You are paying for liability no matter what.

What are you arguing about? It's very common to refer to you having either liability insurance or comprehensive insurance. Comprehensive insurance includes liability insurance too.

I'm glad you cleared that up for yourself...

Brick wrote:

ltg,
If you had a car worth $1, would it be worth it to get comprehensive coverage over liability coverage?

_________________

Joe Orr Road Rod wrote:

The victims are the American People and the Republic itself.

Top

Brick

Post subject: Re: Insurance... how does it work?

Posted: Tue Dec 28, 2021 8:50 am

Joined: Wed Jun 21, 2006 6:57 pm
Posts: 92041
Location: To the left of my post

But they are two different types. One just includes the other.

It's like saying that you can't choose a 4 door car over a 2 door car, because both types have 2 doors.

_________________
You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!

Top

Darkside

Post subject: Re: Insurance... how does it work?

Posted: Tue Dec 28, 2021 8:51 am

Joined: Wed Jun 28, 2006 9:29 am
Posts: 65751
Location: Darkside Estates
pizza_Place: A cat got an online degree.

Seacrest wrote:

Brick wrote:

Seacrest wrote:

Brick wrote:

Seacrest wrote:

Brick wrote:

ltg,
If you had a car worth $1, would it be worth it to get comprehensive coverage over liability coverage?

The state of IL requires liability insurance.

It doesn't require full coverage unless you have a loan out on the vehicle.

I'm asking if it would be a good idea, because from what I can tell, ltg doesn't think that comprehensive coverage is worth it on low value cars.

You don't get to choose between liability and comprehensive insurance.

You are paying for liability no matter what.

What are you arguing about? It's very common to refer to you having either liability insurance or comprehensive insurance. Comprehensive insurance includes liability insurance too.

I'm glad you cleared that up for yourself...

Brick wrote:

ltg,
If you had a car worth $1, would it be worth it to get comprehensive coverage over liability coverage?

You should reread what you both wrote there.

_________________
"Play until it hurts, then play until it hurts to not play."
http://soundcloud.com/darkside124 HOF 2013, MM Champion 2014

bigfan wrote:

Many that is true, but an incomplete statement.

Top

Seacrest

Post subject: Re: Insurance... how does it work?

Posted: Tue Dec 28, 2021 8:53 am

Site Admin

Joined: Wed Jun 08, 2005 6:45 pm
Posts: 38329
Location: Lovetron
pizza_Place: Malnati's

Brick wrote:

But they are two different types. One just includes the other.

It's like saying that you can't choose a 4 door car over a 2 door car, because both types have 2 doors.

No, it's not like that at all.

You don't get to choose one over the other as you originally asked. Liability is required.

You do get to choose whether or not you want to add full coverage to your liability policy though.

_________________

Joe Orr Road Rod wrote:

The victims are the American People and the Republic itself.

Top

Brick

Post subject: Re: Insurance... how does it work?

Posted: Tue Dec 28, 2021 9:01 am

Joined: Wed Jun 21, 2006 6:57 pm
Posts: 92041
Location: To the left of my post

Seacrest wrote:

Brick wrote:

But they are two different types. One just includes the other.

It's like saying that you can't choose a 4 door car over a 2 door car, because both types have 2 doors.

Two doors in a car is also required. You do get to choose whether or not you want to add 2 more doors though.

You do get to choose one over the other. One just includes the other option.

_________________
You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!

Top

The Missing Link

Post subject: Re: Insurance... how does it work?

Posted: Tue Dec 28, 2021 9:04 am

Joined: Wed Jun 02, 2021 5:29 am
Posts: 15235
pizza_Place: Eduardo's

Brick wrote:

Seacrest wrote:

Brick wrote:

ltg,
If you had a car worth $1, would it be worth it to get comprehensive coverage over liability coverage?

The state of IL requires liability insurance.

It doesn't require full coverage unless you have a loan out on the vehicle.

I'm asking if it would be a good idea, because from what I can tell, ltg doesn't think that comprehensive coverage is worth it on low value cars.

I need a dollar amount. What is the maximum price that you attach to a "low value car"? Just Asking A Question.

_________________

pittmike wrote:

Technically I was drunk (big surprise) and asked her if she liked a tongue up her ass.

Frank Coztansa wrote:

Again, your comprehension needs work.

Top

The Missing Link

Post subject: Re: Insurance... how does it work?

Posted: Tue Dec 28, 2021 9:05 am

Joined: Wed Jun 02, 2021 5:29 am
Posts: 15235
pizza_Place: Eduardo's

Brick wrote:

ltg,
If you had a car worth $1, would it be worth it to get comprehensive coverage over liability coverage?

No it would not.

_________________

pittmike wrote:

Technically I was drunk (big surprise) and asked her if she liked a tongue up her ass.

Frank Coztansa wrote:

Again, your comprehension needs work.

Top

Brick

Post subject: Re: Insurance... how does it work?

Posted: Tue Dec 28, 2021 9:06 am

Joined: Wed Jun 21, 2006 6:57 pm
Posts: 92041
Location: To the left of my post

The Missing Link wrote:

Brick wrote:

Seacrest wrote:

Brick wrote:

ltg,
If you had a car worth $1, would it be worth it to get comprehensive coverage over liability coverage?

The state of IL requires liability insurance.

It doesn't require full coverage unless you have a loan out on the vehicle.

I'm asking if it would be a good idea, because from what I can tell, ltg doesn't think that comprehensive coverage is worth it on low value cars.

I need a dollar amount. What is the maximum price that you attach to a "low value car"? Just Asking A Question.

There is a dollar amount in the question.

_________________
You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!

Top

Brick

Post subject: Re: Insurance... how does it work?

Posted: Tue Dec 28, 2021 9:06 am

Joined: Wed Jun 21, 2006 6:57 pm
Posts: 92041
Location: To the left of my post

The Missing Link wrote:

Brick wrote:

ltg,
If you had a car worth $1, would it be worth it to get comprehensive coverage over liability coverage?

No it would not.

Why not?

_________________
You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!

Top

Seacrest

Post subject: Re: Insurance... how does it work?

Posted: Tue Dec 28, 2021 9:07 am

Site Admin

Joined: Wed Jun 08, 2005 6:45 pm
Posts: 38329
Location: Lovetron
pizza_Place: Malnati's

Brick wrote:

Seacrest wrote:

Brick wrote:

But they are two different types. One just includes the other.

It's like saying that you can't choose a 4 door car over a 2 door car, because both types have 2 doors.

Two doors in a car is also required. You do get to choose whether or not you want to add 2 more doors though.

You do get to choose one over the other. One just includes the other option.

"a thing that is or may be chosen."

In Illinois, all motorists are required by law to be covered by liability insurance

officially compulsory, or otherwise considered essential; indispensable.

Not an option. :lol:

_________________

Joe Orr Road Rod wrote:

The victims are the American People and the Republic itself.

Top

The Missing Link

Post subject: Re: Insurance... how does it work?

Posted: Tue Dec 28, 2021 9:08 am

Joined: Wed Jun 02, 2021 5:29 am
Posts: 15235
pizza_Place: Eduardo's

Brick wrote:

The Missing Link wrote:

Brick wrote:

ltg,
If you had a car worth $1, would it be worth it to get comprehensive coverage over liability coverage?

No it would not.

Why not?

Because the premium that you have to pay in the event you file a claim is greater than the value of the car. That's why. It makes no sense to get full coverage with this being the case. Purchase liability and keep it moving.

_________________

pittmike wrote:

Technically I was drunk (big surprise) and asked her if she liked a tongue up her ass.

Frank Coztansa wrote:

Again, your comprehension needs work.

Top

Brick

Post subject: Re: Insurance... how does it work?

Posted: Tue Dec 28, 2021 9:11 am

Joined: Wed Jun 21, 2006 6:57 pm
Posts: 92041
Location: To the left of my post

An option is simply a choice among multiple things.

You don't have the option of not having any type of insurance. You have the option of getting either liability insurance or getting comprehensive insurance.

_________________
You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!

Top

Seacrest

Post subject: Re: Insurance... how does it work?

Posted: Tue Dec 28, 2021 9:18 am

Site Admin

Joined: Wed Jun 08, 2005 6:45 pm
Posts: 38329
Location: Lovetron
pizza_Place: Malnati's

The Missing Link wrote:

Brick wrote:

The Missing Link wrote:

Brick wrote:

ltg,
If you had a car worth $1, would it be worth it to get comprehensive coverage over liability coverage?

No it would not.

Why not?

So you would correctly choose not to pay for the option of having comprehensive insurance. :lol:

_________________

Joe Orr Road Rod wrote:

The victims are the American People and the Republic itself.

Top

Brick

Post subject: Re: Insurance... how does it work?

Posted: Tue Dec 28, 2021 9:22 am

Joined: Wed Jun 21, 2006 6:57 pm
Posts: 92041
Location: To the left of my post

The Missing Link wrote:

Brick wrote:

The Missing Link wrote:

Brick wrote:

ltg,
If you had a car worth $1, would it be worth it to get comprehensive coverage over liability coverage?

No it would not.

Why not?

So the only difference between comprehensive and liability coverage is that with comprehensive coverage they will pay for damage to your car and with liability insurance they will pay for injury to the other person and the other persons car?

_________________
You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!

Top

The Missing Link

Post subject: Re: Insurance... how does it work?

Posted: Tue Dec 28, 2021 9:24 am

Joined: Wed Jun 02, 2021 5:29 am
Posts: 15235
pizza_Place: Eduardo's

Seacrest wrote:

The Missing Link wrote:

Brick wrote:

The Missing Link wrote:

Brick wrote:

ltg,
If you had a car worth $1, would it be worth it to get comprehensive coverage over liability coverage?

No it would not.

Why not?

So you would correctly choose not to pay for the option of having comprehensive insurance. :lol:

Yeah and have. I had to make that very decision a few years ago. No way would I get full coverage. At the time I didn't think that insurance companies even offered it for cars that old :lol: