Posted: 12/1/2009 1:40:59 PM EDT
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My 2000 Chevy Z71 is paid off, has about 120k miles on it, and I think has a blue book value of around $5000.
Right now I have full coverage on it with a $500 deductible. Mostly because I just hadn't considered changing my coverage since I paid it off a couple years ago. Should I stay with that coverage, change the deductible, or just go with liability insurance? Does it matter that my car, quad, and house are on the same policy? My carrier is Nationwide/Allied BTW |
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you should have liability - I would advise a 1000 deductible, only because it makes your premium cheaper and if there is a accident worth "shopping" it for they usually find a way to make it fit into the bill anyways
I also switched to liberty mutual insurance - much cheaper and got a discount for having my home and auto on the same policy. I also dont know your state requirements if the have a minimum req like FL where its 10K minimum coverage on liability - truth is having a few extra bucks coverage comes in handy especially when you think about the cost of cars - you hits a higher end vehicle repairs can hit 5-10,000 easy or more if its bad - or take into account medical bills, you send someone in the hospital its gonna cost a couple bills as well. anyways hope that helped. |
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I can't tell you what you should or shouldn't carry but as an auto claims adjuster I reccommend you ask yourself these questions.
If you damage it, can you afford to fix it yourself? Realize that many "minor" repairs can cost $1500. Or are you at the point of If you fuck it up are you happy to sell it and put proceeds towards a new vehicle. If you answer yes to this, than a policy without comp/collision may be right for you If you do elect full coverage find the happy balance of monthly premium vs. Deductible. Basically, if you fuck up your car, do you have the money to cover your deductible?? I personally have my deductibles at $500. I normally have that amount of cash available in savings eithout wiping out my savings should I have to pay it. If you can afford to drop $1K in the event of a crash, then go for it. Just advice from personal experience. As always, ymmv. Eta: carry as much liability coverage as yoi can afford. Posted Via AR15.Com Mobile |