Do you guys carry collision on your cars even if they have been paid off for several years?
Dropping collision after car paid off?
- Thread starter OhIIICobra
- Start date
Meh, depends on what the car is worth and what the difference in premiums is.
Yes, but like Black said depends what the cars worth or parts that might get smashed up like hood, bumpers things like that, whats the cost to replace them? If they can be found cheaper than your deductible i wouldn't. I carry full coverage on all my cars.
Liability on everything I drive. I figure if I wreck it, I can fix it, if I can't then it was my dumbass fault its broken beyond repair. I always carry uninsured motorist though.
Depends on the car.
no. not enuff difference in cost to justify it
For me it's always been only a difference of about $10 per month, so I've always carried it.
Yes if its a 25k dollar car i have paid off I'm definitely going to carry it
the wife's saturn is only worth 2000-2500, when we were just shopping insurance I thought about dropping it but its only like $30 a year to carry it so ya we still have it
If you talking about an '03 Cobra, for example, I'd say yes, I would definitely carry collision due to the higher book value of the car. If it was an '03 Mustang GT then probably not. Just two examples. It definitely depends on the car and how much it's worth.
I carry it till the end. last year my 06 corrola s with 150000 miles was hit by some illegal imigrants with no insurance, liscense, etc i went out bought my wife a new car 2 days later allstate said the value of the car was 7000$ did i want it fixed or salvaged i had it fixed for 4800$ and im glad i pay the 10$ a month for collision or i would have thrown away the car to save 120 a year.
This.
I always carry full coverage on everything, mainly for that chance I get hit by some illegal or someone with no insurance. I'm not going to be out a vehicle, injuries, etc because someone else didn't bother having proper insurance. I think I pay $12/month more for two trucks with $500 deductible. That's cheap for having an added safety net.
In Michigan, it doesn't mean anything if the at-fault driver has insurance or not. I HATE Michigan No-Fault insurance. Your insurance always covers you no matter what.
As for keeping collision coverage, I would say it depends on the cost of the car and your income/ available cash. If you have a $3000 car but only make $25,000 a year, I would probably keep full coverage just because its a high percentage of your income. But if you have a $3000 and make $100,000 you will not feel the pain of losing that $3000 car near as much.
As for keeping collision coverage, I would say it depends on the cost of the car and your income/ available cash. If you have a $3000 car but only make $25,000 a year, I would probably keep full coverage just because its a high percentage of your income. But if you have a $3000 and make $100,000 you will not feel the pain of losing that $3000 car near as much.
Sometimes, depends what it is worth...
My 05 4 banger ranger has been paid for since day one, I dropped full coverage when it hit 150K miles.
My 06 F150 is paid for, it's worth a lot more than the ranger, so I still carry full coverage.
My 05 4 banger ranger has been paid for since day one, I dropped full coverage when it hit 150K miles.
My 06 F150 is paid for, it's worth a lot more than the ranger, so I still carry full coverage.
Hell No.
I pay less than $1000 for full coverage on my 05 GT. A wheel and tire costs more than that.
With my past history over the last 25 years only counting animal collisions my insurance has paid out over $50,000.
There is no way they will ever make a dime off me.
I pay less than $1000 for full coverage on my 05 GT. A wheel and tire costs more than that.
With my past history over the last 25 years only counting animal collisions my insurance has paid out over $50,000.
There is no way they will ever make a dime off me.
Apparently Progressive thinks my fusion is some gold mine, they paid just about $7k in repairs about a year ago when it had 130k on it (I thought for sure it would be totaled out). I dont owe much of anything on it anymore so hell yeah ill keep full coverage on it.
My Father gave me some advice I still live by "ALWAYS insure anything you can't afford to fix or replace out of pocket". That is the only thing I look at. Do I want to pay or can I afford to pay what has been broken. most of the time anymore it is I don't want to spend my money to fix broken shit so I carry full coverage on everything I own/drive
Full coverage everything all the time. Unless your driving record looks like Lindsay Lohan's the difference in premium on an older less valuable car is next to nothing anyways. It's $6 more to have full coverage on the $h&tbox I commute in. For that $6 I would get a $2000 check to buy another $h&tbox should it be totaled. Rather than having to use savings to cover it.
I wouldn't put full coverage on a Jeep either. When you roll it build a Toyota and discover what you've been missing.
Sincerely,
A Recovering Jeep Addict
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