Insurance can be tricky for most of us to navigate, but when you start insuring supercars it really becomes problematic. In this video we start our discussion on insurance and go through Dan’s personal USAA insurance policy with a fine tooth comb. Do I have enough coverage for my cars? Should I change anything? Because Adam is a licensed Insurance Adjuster, he’s got a lot of experience in the insurance space so let’s get his thoughts on my insurance.
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Likes: 238
Views: 2961
Excellent information here guys! Very enlightening and very entertaining!
Do you need rental coverage if you are not at fault and the other person has good coverage? I think you are entitled to a Ferrari rental car….
Thanks Dan, Adam and Megan. We really appreciate the info as well as the transparency!
Get an umbrella policy on top of the bodily injury. If death results they can sue you for more than that coverage. Helps protect your assets.
When I was younger and broker I hit a woman standing on the side of the interstate (not my fault, long story) and she sued me. Luckily I had no real assets. USAA was awesome. They assigned me a lawyer who I never knew, got a total of 2 letters in the mail, and they paid the woman 100K. My rates didn’t go up a dime. That’s why I still have them to this day.
I found this interesting. One thing I can chime in on… Anyone who only has 1 car, GET RENTAL COVERAGE. I learned that lesson the hard way. Now I have 2 cars and don’t need it. But I hit a deer a couple years ago and was without my car for a month. Rentals get expensive fast.
Hi Dan, why are you insuring the 599 for road use when it's been in pieces for over a year? Wouldn't it make more sense to just buy storage insurance for it, which is cheap, and save some money? Also, your level of coverage at $300k/$500k looks really light compared to most of the auto insurance that I'm seeing written. It's very common here to see coverage of $1M, $2M or more and even those amounts wouldn't cover a really bad accident where you're at fault.
His wife is too loud lol.
I work for Travelers and USAA is less expensive, even when I got a quote using the Travelers Insurance employee rate. USAA service is first rate.
My USAA is $6000/year for me, two teens, an 03 911, 06 Mercedes, 15 VW e-Golf, 12 Mazda 3.
An interesting topic we all must know about it, especially during accidents or theft…not all insurance company want to provide coverages for supercars ….just amazing when Megan is on board…regards from Malaysia