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Old 09-30-2016, 08:55 AM   #21
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Maybe it is worth $6k on trade in but what is it really worth if you had to replace it "in kind"? I looked up the 2006 Pilot on KBB and then looked at eight 2006 Pilots for sale in my area. Trade in value was ~$6,146 and the closest comp near me was $10k with close to 100k miles on it. Isn't the insurance going to pay out "replacement value", not trade-in? So you would have $10K coverage or more, right? Insurance coverage on a totaled vehicle is a fuzzy number and is negotiable. Sometimes ending with them buying the replacement car for you. (at least it used to be the case)

I have a 2000 vehicle that I keep comp and collision on, because it is not much money to do so. Maybe I should reconsider.....
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Old 09-30-2016, 10:50 AM   #22
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Another thing I would strongly suggest is to make sure you have full-coverage on the glass portion of your Comp coverage. You can buy comp with a deductible on the other causes of loss, for sure, but because glass losses are by far the most common and usually least costly (compared to the other, more severe causes of loss, make the coverage worthwhile by paying a few dollars more to eliminate the glass deductible.
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Old 09-30-2016, 10:51 AM   #23
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I tend to used the vehicle value of $5K as my transition point to drop collision. I might keep comprehensive in addition to liability. Whether to keep comprehensive depends on vehicle use, and if good chance of it being damaged or theft. Such as one that drives to work or around town a lot, might keep comp. Collision is up to my driving, and I have never caused an accident, so I feel good to drop that when vehicle value gets below the $5K.
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Old 09-30-2016, 11:13 AM   #24
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IMHO, Comprehensive coverage is one of the few "values" when it comes to auto insurance. My window replacement even with a $50 deductible always "pays" the premium even if it only happens every couple of years.
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Old 09-30-2016, 02:27 PM   #25
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That's so weird about the glass replacements rates y'all are having.

I've had to replace exactly 1 windshield in 30 years of driving. I think one or two of my old cars had small cracks, low down and on the passenger side, but they never bothered me and never spread before I got rid of them.

Is this a Northern winter/snow thing?
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Old 09-30-2016, 02:35 PM   #26
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Quote:
Originally Posted by fh2000 View Post
My 10 year old Honda Pilot has now 72,000 miles on it. I work from home, so do not drive much for 4 years. I just checked KBB using condition 'good', and see a trade-in value $6000.

My Geico insurance quoted with $200 savings a year, if I drop full coverage down to liability. DW says that if we keep it for 5 more years, we will pay total extra $1000, for $6000 asset.

So, would you drop full coverage and go liability at this value? Or wait a couple of years since the savings is low value?
Actually won't you have paid $1,000 for an asset that will be worth less than $6,000 by the time you've paid the extra $1,000 for five more years?
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Old 09-30-2016, 02:48 PM   #27
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Originally Posted by Sarah in SC View Post
That's so weird about the glass replacements rates y'all are having.

I've had to replace exactly 1 windshield in 30 years of driving. I think one or two of my old cars had small cracks, low down and on the passenger side, but they never bothered me and never spread before I got rid of them.

Is this a Northern winter/snow thing?
No, not a northern thing entirely. Since we have moved to Texas (Houston area), we have replaced three vehicle windshields and have had rocks crack/chip several others. Lots of freeways, lots of big trucks, lots of small stones and caliche.
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