Is Comprehensive and Collision Insurance worth it for a used vehicle?
Find answers to your legal question.
Is Comprehensive and Collision Insurance worth it for a used vehicle?
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I own a 96 Ford Tauras GL with auto everything. It's in good shape. I have regular maintenance and keep everthing in top working order but have over 200,000 miles. I was wondering if it is worth having Comp and Collision on it since the blue book value is low due to mileage.
Additional Details
If there was a wreck, would insurance cut off the payment at the blue book value?
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David L
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You would have to decide if the cost of the comp and collision insurance that would repair your car is worth getting the car fixed if it is damaged. If the car is in really good shape... keep the insurance. If it gets severely damaged and you have no insurance, you will have to pay for it yourself, or buy another car. |
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scott h
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Its probably not necessary to have full coverage,but definitely worth having uninsured motorest coverage |
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CowboyBill
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Tough call -- usually comp. and collision on a '96 anything is so inexpensive you may as well keep it. If you are driving a bomber, then the answer is NO. |
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doofuss
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Not worth it |
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tonalc1
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Comp maybe. Collision definitely no. |
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gjkishere
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Depends on how much it costs. When i lived in New York City and it would have cost an additional $3000 - $4000, i'd say, what, you crazy?
Living now in a small town in Ohio, where it's about $120 tops, sure, what can you lose? |
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kookie
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I would keep the Ins. only what is necessary to be driving.The other costs I would eliminate.Hopefully you have faith in your driving skills not be causing a accident and that the person who may be at fault,should a accident happen,(god forbid) that they have Insurance to cover any expense.Should you need to repair.Cost of bone yard parts and you, or a friend have fixing aptitude, it is cheaper in the long run.. |
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RAUL S
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NOOOOOO; |
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questions
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Tough one, your call. What would the car be worth totalled vs what does the coverage cost. I would probably keep comp for the glass coverage, but windshield replacement is a must where I live with lots of gravel.
So get your estimated cost for collision from your agent or insurance company, then compare with the cost of the auto. If you will pay more for the coverage than the auto is worth, then no I wouldn't keep it. Sometimes though the coverage can be really low, especially if you have a good driving record and all that.
I would check your other coverages while at it, uninsured motorist and medical payments.
Best wishes |
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