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Old 05-23-2016, 06:33 AM   #21
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My collision is pretty cheap... $141/year with a $500 deductible for a truck that is worth $8,000 so about 1.9% of my coverage.

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Old 05-23-2016, 06:53 AM   #22
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Originally Posted by pb4uski View Post
My collision is pretty cheap... $141/year with a $500 deductible for a truck that is worth $8,000.
Here in MI, I was surprised when DW traded in a 10 year old Taurus for a new CRV and the total rate was the same within a few bucks. Collision on both.

Yes, I have achieved work / life balance.
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Old 05-23-2016, 07:18 AM   #23
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I'm in the $3-5k mark, but own Hondas so not sure my car will ever make it to that valuation. The other thing is what your paying for insurance, our plan only costs $550/year vs. my friend in CA says he pays over $2k for similar vehicles.

Though I'm extremely grateful I had insurance since I just got my car back from the shop 3 days ago from an accident my BF was in, got hit right in the door hinge so had to replace quit a bit, $7800 in damages, 8 weeks in the shop. So I paid my deductible and called myself lucky since insurance picked up the tow, car rental and rest of the damages. I was surprisingly happy with the insurance company (especially since I had just switched to them in Feb so they only had 2 payments from me before we filed a claim) and I'm positive my previous insurer would not have been nearly as good.
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Old 05-23-2016, 02:07 PM   #24
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The comprehensive coverage is usually very low. It covers theft and older cars are frequently a theft risk.
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Old 05-23-2016, 07:17 PM   #25
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We learned that in our state, when damage to your vehicle is greater than 75% of value it can be considered a total loss.

Our insurance co almost refused to repair our old car after an uninsured motorist hit it (while it was parked in our driveway!). They were contemplating only giving us our blue book value of our car.

Thankfully, they did repair it. And then we dropped collision. Realized at that point that it definitely wasn't worth it.

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less stuff, more time

(48, married; DH 52. I am fully retired as of 2015 (well ok, I still work part-time but only because I love the job and have complete freedom to call off if I want to travel with hubby for work), DH will fully retire 2018 when he turns 55 to access 401K penalty-free)
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