Nov 22, 2008

And this is why we have a (relatively) big emergency fund

Last week, I wrote about how we were dipping into our emergency fund to cover a large plumbing repair and the cost of installing a new car battery, all in one week. This actually came on top of what I expect will be some decent medical bills, since Tyler needed those emergency stitches put in by the plastic surgeon a couple of weeks ago.

Well, it's a good thing our emergency fund is bigger than the $1000 baby fund advocated by Dave Ramsey, because we're going to have to dip into it again: on Thursday, we were all in the car when we were rear-ended in heavy traffic. We were hit so hard that we were pushed into the car in front of us, but fortunately, no one was hurt. Although the guy who hit us took full responsibility, apologized to us and the kids, and appeared confident he had insurance, it looks like his insurance company might be claiming he wasn't covered. So we'll have to pay our deductible and hope that eventually we'll get it back (more on that next week).

Reiterating the theme from last week, though, life is still good. This is just an inconvenience that will hopefully be over and done with in a week (let's hope the repairs don't take any longer than that) because:
  • We have enough money in the bank to cover the deductible.
  • We have auto insurance and pay our premiums on time, every time.
  • Our auto insurance is with a reputable company, with customer service that we trust. Our agent has been the family agent for years, although we haven't had to file a claim in a long time. So far, the adjuster has been quite competent and proven worthy of our trust.
  • We didn't buy a flashy car. We were in the new car when we were hit, but even so, it's not particularly devastating because we bought a modest car (Nissan Altima). I've known people who buy expensive, beautiful cars and then freak out over a scratch - an accident like this would be scarring to them. (In the interest of clarity, it was the older car that got the new battery last week.)
Of course, even knowing that this accident is a relatively minor incident, I do hope to avoid any new reasons for dipping into the emergency fund this coming week!

Update: We didn't get the car back until January!


Kacie said...

Well goodness! When it rains, it pours I guess. I'm sorry that happened to you and I'm really glad nobody was injured.

Hopefully your car will be back in your possession soon and you'll be done tapping your e-fund for a long time!

Anonymous said...

I love your attitude! It doesn't help to have a negative one, but I'm glad yours is positive.


Gina @ MoneywiseMoms said...

How scary! I'm glad to hear you are all right.

Chief Family Officer said...

Thanks gals! Unfortunately, the body shop says it will take 2 1/2 weeks to fix the damage - apparently they kept pointing out how bad it is. I guess it's because they design cars to crumple at the ends, but still, it also reinforces just how lucky we were that no one was hurt!

@Mar - I have to admit to feeling sorry for myself at times, but as soon as I start going down that road, I remind myself - or am quickly reminded - of how much more difficult things could be. My problems are very minor compared to others'! That said, I do work very hard to maintain a positive attitude so I really do appreciate your kind words :)

Brittany said...

I'm so glad you are all ok! Great perspective!

Clean ClutterFree Simple said...

I'm glad you are all ok.

Anonymous said...


I'm so sorry you have so much going on at once!

But thank goodness it's made easier because you have a good sized emergency fund.

My husband and I are pretty firm about having an adequate emergency fund too. There are lots of things we would like to use the money for, but would be really sorry if a true need came up and we couldn't take care of it.

Take Care,


Anonymous said...

I'm really hoping you have a better week this week! I'm with you on the bigger emergency fund. At least with our life, $1000 is not enough.