Its a 99 Honda Civic, almost 10 years old. paid sour.
Answers:
Drop collision and keep liability and comp. A car this dated does not need full coverage. Any significant accident would result contained by the ins. co. totaling your car. Turning in minor claims would put on a pedestal your rates anyways, so ditch the full coverage and save yourself a few bucks...
I would recommend keeping your insurance at full coverage, because you just never know when something is going to begin.
For instance, about 2 or 3 years ago I was considering dropping my insurance down to liability. Just a week or two after I have started thinking about it, I got into a principal accident where my vehicle ended up being totaled by the insurance company. If I have dropped to liability, I wouldn't have gotten any money for my car; I have a 2001 Jeep Cherokee at the time, also paid off (kind of close to the situation you have).
So, checking the value of your car is a apt idea in crust it does get totaled in a crash and afterwards weighing that against the insurance payment. But, I would still strongly recommend keeping full-coverage insurance, because it's better to be not detrimental than sorry.
You need to opt if you can afford to lose the value of you car If it is totaled. If you can after drop full coverage. Source(s): 30 years in the automotive field
You could always elevate your deductible to something higher, say $1,000. It would still cover the damages, but the money you accumulate in premiums would more than make up for the increased deductible. Just be sure to hold the money in the bank surrounded by case.
No one can answer this question except you. First, go to kbb.com to find the trade-in expediency of your car. That would be about the amount you would find (minus your deductible) if you totaled it. Comprehensive coverage covers theft and other non-collision damage such as vandalism, stone cracking the windshield etc. It also have a deductible.
So, once you know what insurance would pay, ask yourself if you can absorb the loss. This is call self-insuring. If so drop collision and comprehensive. If you really would need the proceeds to help income the cost of another car, keep the coverage. Another factor to focus about id how much this coverage add to your premium. Source(s): Worked 32 years for a major insurance company
Yeah, I would drop to liability, the significance of the car isn't that much.
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Answers:
Drop collision and keep liability and comp. A car this dated does not need full coverage. Any significant accident would result contained by the ins. co. totaling your car. Turning in minor claims would put on a pedestal your rates anyways, so ditch the full coverage and save yourself a few bucks...
I would recommend keeping your insurance at full coverage, because you just never know when something is going to begin.
For instance, about 2 or 3 years ago I was considering dropping my insurance down to liability. Just a week or two after I have started thinking about it, I got into a principal accident where my vehicle ended up being totaled by the insurance company. If I have dropped to liability, I wouldn't have gotten any money for my car; I have a 2001 Jeep Cherokee at the time, also paid off (kind of close to the situation you have).
So, checking the value of your car is a apt idea in crust it does get totaled in a crash and afterwards weighing that against the insurance payment. But, I would still strongly recommend keeping full-coverage insurance, because it's better to be not detrimental than sorry.
You need to opt if you can afford to lose the value of you car If it is totaled. If you can after drop full coverage. Source(s): 30 years in the automotive field
You could always elevate your deductible to something higher, say $1,000. It would still cover the damages, but the money you accumulate in premiums would more than make up for the increased deductible. Just be sure to hold the money in the bank surrounded by case.
No one can answer this question except you. First, go to kbb.com to find the trade-in expediency of your car. That would be about the amount you would find (minus your deductible) if you totaled it. Comprehensive coverage covers theft and other non-collision damage such as vandalism, stone cracking the windshield etc. It also have a deductible.
So, once you know what insurance would pay, ask yourself if you can absorb the loss. This is call self-insuring. If so drop collision and comprehensive. If you really would need the proceeds to help income the cost of another car, keep the coverage. Another factor to focus about id how much this coverage add to your premium. Source(s): Worked 32 years for a major insurance company
Yeah, I would drop to liability, the significance of the car isn't that much.
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