Insurance

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Toast
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Insurance

Post by Toast » Fri Feb 10, 2012 12:34 pm

Just curious what others are doing. At what point should full coverage be dropped on a Neon and continue with liability only?
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Danteneon
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Post by Danteneon » Fri Feb 10, 2012 12:38 pm

I still have full coverage. The difference in price isn't enough for me to worry about footing the bill to have my car repaired if I do something stupid, get hit and run'd, I'm hit by an uninsured motorist, etc.
If I could just figure out how to meld the Outback and the Neon into one car...

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Toast
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Post by Toast » Fri Feb 10, 2012 12:43 pm

Danteneon wrote:I still have full coverage. The difference in price isn't enough for me to worry about footing the bill to have my car repaired if I do something stupid, get hit and run'd, I'm hit by an uninsured motorist, etc.
Good point, I forgot about the uninsured.
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Post by darthroush » Fri Feb 10, 2012 3:38 pm

Never worth switching to essentially nothing IMO.

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Post by JeffM » Fri Feb 10, 2012 5:33 pm

I had just liability on my old neon. Hit a patch of ice and took out the hood, lights, and bumper. Took me forever to get the car back together by myself (as some members might remember my old neon on here). After that I've always had full coverage. They say once your car is worth as much as your policy you only need liability, but it's never NOT worth paying a little extra just to have that secure feeling that you'll be covered.
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Post by occasional demons » Fri Feb 10, 2012 5:38 pm

If you look at your declarations page, you will find that liability, is the bulk of the cost.

In Ohio, you can still have uninsured coverage, even if you just have liability. It only covers up to $7500, but if the car is actually valued for that much, you would in most cases have full coverage on it.

In the case of most 10 year old neons, it would need to be appraised, and insured for that, to get a loss payout for the amount appraised.

Which if it is worth a decent amount, getting it appraised/insured will be a wise idea, if someone does total it. You have a leg to stand on against their insurance company.
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Toast
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Post by Toast » Sat Feb 11, 2012 11:09 am

Well, I think I'm gonna keep full coverage for another year. There's just too many deer in my area not to. Once the value of the car drops below $2500 I may reconsider.
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Post by Public Disturbance » Sat Feb 11, 2012 11:43 am

Toast wrote:Well, I think I'm gonna keep full coverage for another year. There's just too many deer in my area not to. Once the value of the car drops below $2500 I may reconsider.
I would have never guessed a 03 rt would be worth even close to 2500 there is one local with 132xxx for sale and they want 4700

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Post by Danteneon » Sat Feb 11, 2012 12:05 pm

You have to remember that worth is not the same as retail value.
If I could just figure out how to meld the Outback and the Neon into one car...

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Post by jonnymopar » Sat Feb 11, 2012 12:14 pm

I've had full coverage as long as I've been able to afford it. That's the only reason I didn't have full coverage when I was younger.

My insurance at age 16 on one car with the most stripped-down coverage possible was $1400 annually. My insurance at age 30 with two cars, both fully covered, is $1300!
darthroush wrote:Never worth switching to essentially nothing IMO.
^ This.
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Post by cgneon » Mon Feb 13, 2012 5:49 pm

45$ a month for full coverage... i was gonna drop it and just take liability, but like others have said.. the bulk is liability, might save me 10$.. so meh.. 01SE 75k miles and its paid off... i cant complain too much..
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Post by socialblasts » Wed Feb 15, 2012 8:16 am

Moderator Edit:

Spaming asshole wrote: I might reconsider.
You might reconsider cominghere and pushing your shit.

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Post by heyybaker » Thu Feb 16, 2012 10:05 pm

I had liability on my Sunfire. Let's just say that didn't end well. I didn't like that car, though. If you like yours (I hope so :o), and wish to continue to drive it without worrying about space junk smashing in the roof of your car (okay, unrealistic.. but tree branches? Deer? Other cars?), I'd keep full coverage for as long as you drive it regularly. Definitely if you put some good $ into it.

My full coverage is $110/month, which isn't bad for a 'young, new, inexperienced and high risk' driver (no tickets or anything though). But I also have the more pricy full coverage (there were three options, ranging from $79-$120) with a few changes and added coverage for up to $1500 custom additions (I'll be keeping my receipts in a safe place!).
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Toast
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Post by Toast » Fri Feb 17, 2012 7:06 am

Yeah, I've got two vehicles and she's my daily driver, so might as well hang on to the full coverage. Thanks guys/gals!
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Post by C1DoG » Fri Feb 17, 2012 7:13 am

Yeah full coverage is best. I have it on my daily driver and after yesterdays minor accident. I am glad I did.
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Post by BigMac » Sat Feb 18, 2012 2:22 am

Don't forget that as your car gets older and worth less, it will also take less damage to have the insurance company total it. At some point it's not worth paying full coverage for a car that will be totalled for only $1000 damage.

I don't know about other states, but IIRC here in MD liability coverage must by law include uninsured motorists coverage, so I don't think that in itself is always a valid reason to stick with full coverage.

Edit: My 100th post -- woo hoo, that didn't take too long! :rofl:
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Post by neil.hank202 » Fri Feb 24, 2012 2:31 am

SPAM


BAN ME!










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Post by Dabuh » Fri Feb 24, 2012 10:39 pm

When I bought my neon in 2005 for 3k The insurance was like 2750 for full coverage and I just couldn't afford it, so I've never had it. This was my second car since I had been driving (18 when I bought it). Personally if I were to get another neon then I still wouldn't get full coverage on it, although I have not seen how much it would be for full coverage now that I am over 25...
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Post by INVUJerry » Fri Feb 24, 2012 10:58 pm

Full coverage and liabilty only is a $9 difference on my 95 neon. I'll gladly pay the $108 a year.
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Post by dblsg » Sun Feb 26, 2012 5:11 pm

i still pay full coverage on a 95 :lol:
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Post by darthroush » Mon Feb 27, 2012 5:00 am

BigMac wrote:Don't forget that as your car gets older and worth less, it will also take less damage to have the insurance company total it. At some point it's not worth paying full coverage for a car that will be totalled for only $1000 damage.

I don't know about other states, but IIRC here in MD liability coverage must by law include uninsured motorists coverage, so I don't think that in itself is always a valid reason to stick with full coverage.

Edit: My 100th post -- woo hoo, that didn't take too long! :rofl:
You also need to consider that your car, and only your car, may not be the only thing damaged/hurt in the accident. ;)

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Post by biggrobb1995 » Mon Feb 27, 2012 7:40 pm

My 02 is fully covered but the insurance companies in Ca don't do full coverage on 95 and older cars so the fiance's 95 only has liability. The difference in price wasn't big enough to drop my coverage to liability. A few extra bucks is worth a lil more piece of mind.
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Post by darthroush » Thu Mar 01, 2012 4:00 am

biggrobb1995 wrote:My 02 is fully covered but the insurance companies in Ca don't do full coverage on 95 and older cars so the fiance's 95 only has liability. The difference in price wasn't big enough to drop my coverage to liability. A few extra bucks is worth a lil more piece of mind.
Where'd you get that from? My '86 F150 has more than liability on it...

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Post by RawkBunny » Sun Mar 04, 2012 8:54 pm

Full coverage all the way. Not worth the risk!
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Post by robertknueppel » Mon Mar 12, 2012 5:27 pm

Lol, i pay 500 a month for full coverage -_____- but prolly worth it. I dont plan on crashing my car, but its always good to have it, you never know.

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Post by BigMac » Mon Mar 12, 2012 9:26 pm

darthroush wrote:
BigMac wrote:Don't forget that as your car gets older and worth less, it will also take less damage to have the insurance company total it. At some point it's not worth paying full coverage for a car that will be totalled for only $1000 damage.

I don't know about other states, but IIRC here in MD liability coverage must by law include uninsured motorists coverage, so I don't think that in itself is always a valid reason to stick with full coverage.

Edit: My 100th post -- woo hoo, that didn't take too long! :rofl:
You also need to consider that your car, and only your car, may not be the only thing damaged/hurt in the accident. ;)
That's exactly what liability covers, at least in this state. Full coverage only adds protection for your own vehicle.

Another thing to consider when evaluating whether to keep full coverage is your deductible. If you have $1000 deductible you're not going to get much for an old car anyway when it's totaled.
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Post by darthroush » Wed Mar 14, 2012 2:43 am

BigMac wrote:
darthroush wrote:
BigMac wrote:Don't forget that as your car gets older and worth less, it will also take less damage to have the insurance company total it. At some point it's not worth paying full coverage for a car that will be totalled for only $1000 damage.

I don't know about other states, but IIRC here in MD liability coverage must by law include uninsured motorists coverage, so I don't think that in itself is always a valid reason to stick with full coverage.

Edit: My 100th post -- woo hoo, that didn't take too long! :rofl:
You also need to consider that your car, and only your car, may not be the only thing damaged/hurt in the accident. ;)
That's exactly what liability covers, at least in this state. Full coverage only adds protection for your own vehicle.

Another thing to consider when evaluating whether to keep full coverage is your deductible. If you have $1000 deductible you're not going to get much for an old car anyway when it's totaled.
Liability in your state covers ANY and ALL costs for all injuries, damages and potential lawsuits up to an infinite amount? The insurance companies must hate doing business in MD...

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Post by occasional demons » Wed Mar 14, 2012 8:19 am

darthroush wrote:Liability in your state covers ANY and ALL costs for all injuries, damages and potential lawsuits up to an infinite amount? The insurance companies must hate doing business in MD...
BigMac wrote: I don't know about other states, but IIRC here in MD liability coverage must by law include uninsured motorists coverage, so I don't think that in itself is always a valid reason to stick with full coverage.

I don't see where he stated "up to an infinite amount". It is the same in Ohio, but I'm sure as in Ohio as in MD, it is only limited to the amount of state minimum. In Ohio for example, they will only pay up to $7,500 for your car, if you only have liability coverage, and an uninsured hits you. The logic is, if you only have liability, chances are your car is not worth over $7500. God help you, if you need more than $25,000 medical.
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Post by LowNSlow » Wed Mar 14, 2012 12:41 pm

I fully insure everything I own...
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Post by BigMac » Tue Mar 20, 2012 12:31 am

darthroush wrote:Liability in your state covers ANY and ALL costs for all injuries, damages and potential lawsuits up to an infinite amount? The insurance companies must hate doing business in MD...
Actually, I choose the various amounts of coverage, and the cost of liability is adjusted accordingly. It's not really rocket science. My uninsured-motorist coverage is 100/300/100.

occasional demons wrote:I don't see where he stated "up to an infinite amount". It is the same in Ohio, but I'm sure as in Ohio as in MD, it is only limited to the amount of state minimum. In Ohio for example, they will only pay up to $7,500 for your car, if you only have liability coverage, and an uninsured hits you. The logic is, if you only have liability, chances are your car is not worth over $7500. God help you, if you need more than $25,000 medical.
Doesn't Ohio allow you to pick the amount of liability you want to pay for? I'm from OH originally, but it's been a long time since I had insurance there.
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