Car Insurance Question -When do you drop 2 way insurance

[evergreen96]

Top 5 Most Stolen Vehicles in U.S. in 2000*

1. Toyota Camry
2. Honda Accord
3. Oldsmobile Cutlass
4. Honda Civic
5. Jeep Cherokee/Grand Cherokee

*Sources: National Insurance Crime Bureau and U.S. Census


Most pple who purchase one of the above cars when brand new (or when the only 1 generation old [1994-97]) usually get an car alarm and 2 way insurance. My question is when do you decided
to drop 2 way insurance when the car is alway on Top Stolen car list (eg Accord, Camry). If not stolen, what if you are in an accident whether or not it was your fault.


Article Cars

More detail info on yrs, model of car
Here


Another Link

Edit: 2 way insurance (aka comphresive, Collision)

 

[bUnMaNGo]

I think the only reason my dad gets comprehensive insurance is when we still have the car out on a loan and have a lienholder(sp?) aka the finance company... as soon as we pay off the loan, we usually drop it to liablity only. We have a 1981 Subaru DL stationwagon, 1985 Mercedes Benz 190E, 1987 Plymouth Voyager LE, 1997 Acura Integra GSR, and a 2000 Hyundai XG300... we just paid off the Integra this past September and are looking to drop the comprehensive insurance but I've been too lazy to call We paid for the Hyundai cash so I don't think we have comprehensive on that. Dunno, stolen cars haven't really been a concern for us really since we live in a gated community. We've had our van window bashed in before though. So much for round the clock security patrol.

 

[Zebo]

What is two way insurance? Are you talking Comp/Collision? If so I would never carry such insurance because, unless you live in a ghetto or total your cars all the time the actuarals are against you in the long run. But I only drive ford trucks and buicks so they never get stolen.

 

[Chrono]

i think he means full coverage

 

[bozo1]

If your car is financed with the car being the security on the loan, which it normally is, you are required to carry Collision & Comprehensive.



<< If not stolen, what if you are in an accident whether or not it was your fault. >>


That depends on the state. In some states, the party at fault pays for damages on both sides. In some states, each persons insurance takes care of their own person regardless of fault. If you have no collision, you're SOL.

 

[thedarkwolf]

When a car hits $3k or less in value it goes on liability only. Since I have never had a car worth more than $3k and most have been $1k or less I have never had full coverage.

 

[kamiam]

<< If your car is financed with the car being the security on the loan, which it normally is, you are required to carry Collision & Comprehensive. >>

actually, that is not entirely true...if you finance thru GMAC, as soon as you drop below $6K on the note GM drops the requirement of full coverage