by fireyone » Fri Feb 22, 2008 11:11 am
When is it resonable to remove full coverage from a vehicle? I have a 2000 Pontiac Grand am with just over 100,000 miles on it. My deductible is $500. The car is usually on the road 1-2 days a week and used usually only for appointments or to get groceries. I use my truck for all work related travel and if the roads are in iffy condition.
Posted: Fri Feb 22, 2008 12:16 pm Post Subject:
Hi, I don't think it is advisable to run your car uninsured on the road. Always, remember that it is about someone's life or property which is always more than the insurance cost.
Posted: Fri Feb 22, 2008 12:20 pm Post Subject:
Posted: Fri Feb 22, 2008 12:21 pm Post Subject:
Posted: Fri Feb 22, 2008 12:21 pm Post Subject:
Posted: Fri Feb 22, 2008 12:21 pm Post Subject:
Posted: Fri Feb 22, 2008 12:22 pm Post Subject:
Posted: Fri Feb 22, 2008 12:24 pm Post Subject: No..don't do it
I have a car which I keep stored for the winter months..thats why I'm trying to opt for a temporary coverage for the same..& I have heard that the premiums are gonna cost lesser. But for the premiums to get down the coverage would also not be there for the winter months, hence it becomes absolutely necessary that I don't drive it during the winter months. Got it!
Thanks for sharing..Globalentity
Posted: Fri Feb 22, 2008 12:28 pm Post Subject:
The car is usually on the road 1-2 days a week and used usually only for appointments or to get groceries.
So you see Globalentity, that he is gonna use it atleast for 2 days a week :)
Posted: Fri Feb 22, 2008 05:33 pm Post Subject:
I wasn't talking about pulling off coverage totally. I'm not an idiot. I'm talking about dropping down HOW MUCH INSURANCE I have on it. I guess its called comprehensive or something. I just figured out by the time I pay to have FULL coverage on it in a year plus the deductible its almost a third of the cars value.
Posted: Wed Feb 27, 2008 06:16 am Post Subject:
That is exactly what you have to figure out. How much is your car worth compared to what you are paying for comprehensive and collision. It's a personal choice. If your car is worth 1K, most likely it isn't worth it. 4 or 5K then I would say yes. If your car is worth a grand and it is totaled, you never going to be able to replace it for 1K so what's the point if you are paying 500 a year for coverage. You're better off taking that 500.00 and placing it aside incase it is totaled down the road…. Sort of like your own insurance policy.
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