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re: At what value do you drop the voluntary insurance on your car?
Posted on 8/17/21 at 11:33 am to deltaland
Posted on 8/17/21 at 11:33 am to deltaland
quote:
pay about $125 a month for insurance.
On a 3k dollar car? You’re an idiot or have a terrible driving record. Full coverage on my 2020 Sierra fully loaded is only 150 a month
I think living in Louisiana has something to do with it.
I've got pretty hefty uninsured motorist insurance as well as roadside pickup and rental car assistance. It's not all in the collision coverage so to speak. I feel like I have pretty cheap insurance relative to my peers, some of which are in the $300+ a month range.
1
Posted on 8/17/21 at 11:36 am to jlovel7
quote:
I think living in Louisiana has something to do with it.
never take anyone seriously when they claim to have full coverage.
Posted on 8/17/21 at 11:37 am to jlovel7
quote:
It's a 14 year old car
I just KBB'd a basic 07 Camry at 80k and the fair value comes back between 6k and 8k.
What's your piece of shite and what's wrong with it?
Posted on 8/17/21 at 11:47 am to jlovel7
quote:
At what point is a good point to just drop anything but the minimum required coverage?
Aren't you in New Orleans? There's no way I'd be comfortable with state minimum coverage here.
Posted on 8/17/21 at 11:49 am to Chad504boy
quote:
never take anyone seriously when they claim to have full coverage.
I do. I have a great insurance agent and never had an accident and haven’t had a ticket in 10 years. Plus I raise the deductible to max amount
Posted on 8/17/21 at 11:51 am to jlovel7
quote:
but the minimum required coverage?
Never change OT! You guys bounce between shite like this and bitching about rate increases and Hurricane deductibles
Posted on 8/17/21 at 11:53 am to jlovel7
OT Ballers self-insure.
Posted on 8/17/21 at 12:14 pm to deltaland
quote:
I do. I have a great insurance agent and never had an accident and haven’t had a ticket in 10 years. Plus I raise the deductible to max amount
If you have a deductible you aren’t fully covered.
You have comp/and collision with deductibles.
OP, you can drop comp/collision if that’s what you want, but I wouldn’t mess with liability limits unless you wanted to increase them.
Posted on 8/17/21 at 12:26 pm to jlovel7
Wait till July 4, 2022 and take the 16 cent discount.
Posted on 8/17/21 at 1:07 pm to jlovel7
quote:Is a joke that no one uses (dealers, insurance). Check the ACV with National Automotive Dealers Association.
Kelly Blue Book
Posted on 8/17/21 at 1:11 pm to jlovel7
how much is the book value on your car? there is your answer
you arent even going to get the book value in most cases so drop any extra coverage over legal required as soon as the return value is no longer there
you arent even going to get the book value in most cases so drop any extra coverage over legal required as soon as the return value is no longer there
Posted on 8/17/21 at 1:12 pm to jlovel7
quote:
I've got my car paid off and according to Kelly Blue Book, it's only worth about 3k right now. I pay about $125 a month for insurance. The car is like 13-14 years old at this point and I'm going to try and drive it until it dies or becomes a maintenance nightmare. So far it's been solid and only has about 80k miles on it. I have friends that have driven these same cars to 200k miles. I assume age will get it before wear and tear because I just don't drive it too much especially lifestyle changes because of COVID.
At what point is a good point to just drop anything but the minimum required coverage? It'll be a small difference but even if I can save $50-60 a month and put that into investments or retirements, I'd consider it worth it rather than light it on fire to insure a car that isn't that valuable.
TIA
You might look into dropping the collision on it yet retaining the comprehensive coverage on it with a low deductible as this covers things such as glass replacement and is generally very inexpensive to retain.
Posted on 8/17/21 at 1:13 pm to jlovel7
never. It's not about your vehicle.
Posted on 8/17/21 at 1:18 pm to jlovel7
quote:
I carry about 50/100 bodily injury liability
50 on property damage
I would absolutely carry more...usually very inexpensive to upgrade. Cut elsewhere if the need be.
quote:
For my car I carry a $500 deductible on collision and comprehensive
Look at a glass rider for your $500 comp coverage to shore this up. Again, cheap!
Posted on 8/17/21 at 1:23 pm to jlovel7
If you live in Louisiana you may want to add uninsured motorist coverage. If you are hit by some shite head not insured you’ll want to be covered.
Remember, 1 in 4 drivers in the State are uninsured, especially in BR.
Remember, 1 in 4 drivers in the State are uninsured, especially in BR.
Posted on 8/17/21 at 1:38 pm to deltaland
quote:
I do. I have a great insurance agent and never had an accident and haven’t had a ticket in 10 years. Plus I raise the deductible to max amount
you've said nothing of substance.
Posted on 8/17/21 at 1:53 pm to BHS78
quote:
you can 50-60 a month I would drop but min liability will probably leave you personally exposed financially. Those billboards aren't cheap.
Exactly. This is Louisiana, insurance here isn't simply for vehicle replacement, it's for lawsuit coverage.
Posted on 8/17/21 at 1:54 pm to Steadyhands
quote:
This is Louisiana, insurance here isn't simply for vehicle replacement, it's for lawsuit coverage
That’s not unique to LA, it’s everywhere. People will throw around the term full coverage all day without knowing what the hell that actually means.
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