Should I get collision and liability car insurance or just liability?

I just purchased a 97 Jeep Grand Cherokee Limited for $3600. I'll be putting about $500 into it to change the brakes and charge the AC. The insurance will cost me $107/month with collision or $73/month without collision. I'm pretty sure the deductable is $500. Is it really worth the extra $408/year for collision on a $4000 vehicle?

S17V

Depends, can you afford to purchase another vehicle if you cause an accident and total your vehicle? It really depends on your own financial situation. Most people do not put comp/collision on a 10 year old vehicle, like my parents, once the cars hit 7 or 8 years, they take off the comp and collision, but if the car got totalled and they caused the accident, they could afford to purchase a new vehicle.

queenofqueens

please try this http://www.tkqlhce.com/click-1748196-10426323
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roadhunter02

If you don't feel comfortable with liability put comprehensive on it that will cover it if you hit a deer. If you live in the country that is.

oklatom

If you paid cash for it, and there is no lender involved insisting on certain conditions in insurance, I wouldn't. especially if it's high miles, likely with a 10 year old vehicle.

l337_n3w813

If you can afford to buy another car if this one is totaled, or if you don't care about having to drive around with a smashed fender, you don't need collision.

Richard P

No 400 a year is too much on this car. And what is the blue book value of it?

Gregory C

If I were you I would go with straight liability unless you are paying a note in which case collision is usually required by the seller. I say this because your insurance company will only give you the value of the vehicle if it is totaled (or repair costs are greater than the total value) which will be less than what you paid for it any way. What you might want to do is put aside some of the money you'll be saving in the difference and when you're ready, use that savings towards repairs on your vehicle in case of an accident. Sometimes it's cheaper to pay out of pocket. It cost me about $250 to repair the front bumper on my 2005 Crown Victoria. I paid that out of pocket and my insurance premium did not changes as I did not file a claim.

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