Anyone adding collision coverage to their daily driver beater?

[SC Maintenance]

I switched insurance recently and finally removed comp from my Xterra. My old agent always convinced me to keep it as it was only an extra $100 a year or something, but book on the 387,000 mile car is under $3K, so that is my total risk. Its worth more to me, but thats all they will pay either way. I really don't want any claims, even supposedly comp claims that don't affect your score, as I still have young ones in the house, so I likely would not have made any claims anyway unless it was totaled.

I have claimed exactly 1 windshield in 30 years. With my high deductible I might as well just pay myself.

If my beater was worth $10K I might think differently.

 

[zzyzzx]

Collision was such a small amount that it didnt make sense to not carry the coverage. For some crazy reason a car with a 5 star crash rating and more airbags than lugnuts is crazy expensive to insure due to the medical portion. Way more than my brand new Silverado. It makes no sense, but thats the insurance business.

I dropped collision years ago due to the excessive expense. As on 1 year of collision would cost around 40% of the car's value. But that was before all this craziness started and I had 2 cars at the time. Not sure if a 1999 Alero is worth getting collision on, even though it only has 80K miles on it and it's my only car, and I don't work remote. I should think about this.

 

[SC Maintenance]

I dropped collision years ago due to the excessive expense. As on 1 year of collision would cost around 40% of the car's value. But that was before all this craziness started and I had 2 cars at the time. Not sure if a 1999 Alero is worth getting collision on, even though it only has 80K miles on it and it's my only car, and I don't work remote. I should think about this.

My question is how much would they pay you for a 99 Alero. It might be worth a lot to you - but book says its $1000. Good luck with comps as well.

You should check how old your state has to be to classify as antique. Once it hits that level there might be some low cost options for you - but they might come with restrictions, like when and how much you can drive.

 

[64bawagon]

Since we are a "no fault" state it exposes us to financial issues if another driver hits you and YOU dont have collision. For me it didnt make any sense to drop the collision since that was actually the only portion of the policy that was anything close to a decent value. I could have saved a little bit of money had I dropped portions of the catastrophic medical coverage but I have seen people that were seriously injured and their only means of carrying on any kind of life was because they had adequate long term care. Not a risk I want for my family.

 

[TiGeo]

Since we are a "no fault" state it exposes us to financial issues if another driver hits you and YOU dont have collision. For me it didnt make any sense to drop the collision since that was actually the only portion of the policy that was anything close to a decent value. I could have saved a little bit of money had I dropped portions of the catastrophic medical coverage but I have seen people that were seriously injured and their only means of carrying on any kind of life was because they had adequate long term care. Not a risk I want for my family.

My policy lists a separate "uninsured motorist" coverage that isn't tied to your collision portion of the policy- do you not have that in your state?

 

[64bawagon]

Yes, we have that as well but the uninsured motorist coverage only protects the insurance company against loss. You dont get anything beyond your level of coverage. This is the problem with no fault. There is a mini tort section where you can collect your collision deductible up to $1000 from the other party if they are found at fault. If someone schmucks your car and its totaled and you dont have collision youre limited to the mini tort amount and even then its possible you may have to take them to small claims if the at fault driver isnt covered.
Insurance is a huge scam in this state and we have some of the highest premiums in the country, the insurance syndicate owns the capital in Lansing. Our legislators cars would look like NASCAR sponsored cars if the truth was really told. Money talks.

 

[chrlsful]

so many details to the Q I hesitate to answr.
For my Commonwealth (MA) and every thing particular (& there are quite a few, this is the "Land of Suits" , more attorneys than other professionals per % population, my rig, points, goals, current costs of new/used autos, etc) no, currently no coverage beyond that required by law. I have'n would (again) w/different circumstances. Plez research (like U R doing now) ur specific case.