Have you ever purchased pd/liability for a new car vs. full coverage?

[Kaieye]

The $$ I calculated that I saved is enough to buy another car. The last accident I had that was my fault was over 30 years ago. But I have been hit by others at least 5 times and it was their fault.

I like to take chances I guess.

 

[RKS]

a lot of people are dropping insurance to make ends meet. there are more illegal aliens driving without insurance. good luck.

 

[Kaieye]

I have ALWAYS bought auto insurance since 1975. But I rarely bought full coverage...

 

[RKS]

I always suggest underinsured/uninsured coverage.

 

[overst33r]

so what if your car gets stolen?

 

[DeviousTrap]

Originally posted by: mariok2006
so what if your car gets stolen?

That's comprehensive coverage. You can add comp without adding collision relatively inexpensively.

 

[overst33r]

Originally posted by: DeviousTrap

Originally posted by: mariok2006
so what if your car gets stolen?

That's comprehensive coverage. You can add comp without adding collision relatively inexpensively.

doh brain fart

 

[halik]

Can you afford whatever thousand dollar loss in a collision? If so, go for it.

Also most bank won't let you finance a car w/o full coverage. As soon as I pay off my audi, i'm dropping collision. No sense in paying $1K a year for a car that's worth 6K.

 

[Heller]

Originally posted by: halik
Can you afford whatever thousand dollar loss in a collision? If so, go for it.

Also most bank won't let you finance a car w/o full coverage. As soon as I pay off my audi, i'm dropping collision. No sense in paying $1K a year for a car that's worth 6K.

you financed a car that was worth 6g's?

 

[Kaieye]

When I bought my brand new import truck many years ago, I paid $7k in full out the door. Never paid full coverage then only liability and property damage.

 

[zerocool84]

I've owned one new car and one old car. The old car obviously just liability but the new car full coverage. I didn't want to take any chances with a new car.

 

[rh71]

if you bought it outright without financing you can do it, but it may not be the best idea. The car was bought brand new with the intent that you'd care for it like a newborn, no? You'd rather pay thousands in the event of collision that's your fault? My full coverage was $500 for 6 months rather than $250 for 6 months... not a huge difference.

 

[KentState]

Did you just purchase a new car and if so, how much was it?

Even at saving $800/year, it would take me 5 years to save enough to pay for a minor accident. It cost nearly $4000 when I was rear ended at 20 mph.

 

[CupCak3]

How are you people paying so much for collision???? Do the people w/ high costs not have a deductable??? I found the deductable to be the best decision for my circumstances, having already saved more money than the deductable.

My wife's car is $91 per 6 months for collision with a $500 deductable. If we removed it, it would take us ~35 years while factoring in 5% interest to pay for a $15000 used car.

For those of you talking about uninsured motorists coverage, my plan only covers "personal" liability for UM, not the collision cost of the car. That would be on my own dime if I did not have collision insurance. Is this different for others?

 

[halik]

Originally posted by: Heller

Originally posted by: halik
Can you afford whatever thousand dollar loss in a collision? If so, go for it.

Also most bank won't let you finance a car w/o full coverage. As soon as I pay off my audi, i'm dropping collision. No sense in paying $1K a year for a car that's worth 6K.

you financed a car that was worth 6g's?

Now it's worth 6-7K and I still owe ~5G on it. Blue book was little over 10 when I bought it.

 

[halik]

Originally posted by: CupCak3
How are you people paying so much for collision???? Do the people w/ high costs not have a deductable??? I found the deductable to be the best decision for my circumstances, having already saved more money than the deductable.

My wife's car is $91 per 6 months for collision with a $500 deductable. If we removed it, it would take us ~35 years while factoring in 5% interest to pay for a $15000 used car.

For those of you talking about uninsured motorists coverage, my plan only covers "personal" liability for UM, not the collision cost of the car. That would be on my own dime if I did not have collision insurance. Is this different for others?

You must be 100 years old or your wife's car is worth three dollars. My collision runs ~450 a year, plpd would be ~550.

 

[CupCak3]

Originally posted by: halik

Originally posted by: CupCak3
How are you people paying so much for collision???? Do the people w/ high costs not have a deductable??? I found the deductable to be the best decision for my circumstances, having already saved more money than the deductable.

My wife's car is $91 per 6 months for collision with a $500 deductable. If we removed it, it would take us ~35 years while factoring in 5% interest to pay for a $15000 used car.

For those of you talking about uninsured motorists coverage, my plan only covers "personal" liability for UM, not the collision cost of the car. That would be on my own dime if I did not have collision insurance. Is this different for others?

You must be 100 years old or your wife's car is worth three dollars. My collision runs ~450 a year, plpd would be ~550.

Pffft.. actually insurance for 100 yrs olds should be expensive

My wife is 26 with no accidents or tickets. Her car, 2005 Malibu Maxx was around $13k when we bought it (great deal at the time) and is probably worth about $7-9k now (didn?t check KBB for updated values).

I can use some of my savings to send you some lube if you like?

 

[halik]

Originally posted by: CupCak3

Originally posted by: halik

Originally posted by: CupCak3
How are you people paying so much for collision???? Do the people w/ high costs not have a deductable??? I found the deductable to be the best decision for my circumstances, having already saved more money than the deductable.

My wife's car is $91 per 6 months for collision with a $500 deductable. If we removed it, it would take us ~35 years while factoring in 5% interest to pay for a $15000 used car.

For those of you talking about uninsured motorists coverage, my plan only covers "personal" liability for UM, not the collision cost of the car. That would be on my own dime if I did not have collision insurance. Is this different for others?

You must be 100 years old or your wife's car is worth three dollars. My collision runs ~450 a year, plpd would be ~550.

Pffft.. actually insurance for 100 yrs olds should be expensive

My wife is 26 with no accidents or tickets. Her car, 2005 Malibu Maxx was around $13k when we bought it (great deal at the time) and is probably worth about $7-9k now (didn?t check KBB for updated values).

I can use some of my savings to send you some lube if you like?

Bah,
must be that No Fault extortion bullshit we have here in Michigan.

 

[waffleironhead]

Good luck if there is a hit and run.

 

[CupCak3]

Originally posted by: halik

Originally posted by: CupCak3

Originally posted by: halik

Originally posted by: CupCak3
How are you people paying so much for collision???? Do the people w/ high costs not have a deductable??? I found the deductable to be the best decision for my circumstances, having already saved more money than the deductable.

My wife's car is $91 per 6 months for collision with a $500 deductable. If we removed it, it would take us ~35 years while factoring in 5% interest to pay for a $15000 used car.

For those of you talking about uninsured motorists coverage, my plan only covers "personal" liability for UM, not the collision cost of the car. That would be on my own dime if I did not have collision insurance. Is this different for others?

You must be 100 years old or your wife's car is worth three dollars. My collision runs ~450 a year, plpd would be ~550.

Pffft.. actually insurance for 100 yrs olds should be expensive

My wife is 26 with no accidents or tickets. Her car, 2005 Malibu Maxx was around $13k when we bought it (great deal at the time) and is probably worth about $7-9k now (didn?t check KBB for updated values).

I can use some of my savings to send you some lube if you like?

Bah,
must be that No Fault extortion bullshit we have here in Michigan.

Oh rly?

 

[StageLeft]

My collision is so cheap I'd rather just keep it there. I also pimp a low deductible. It doesn't make PURE financial sense, but it's simply how I roll.