Anyone adding collision coverage to their daily driver beater?

[RhondaHonda]

There is no "Salvage Category" in the KBB. How does the Insurance Company arrive at a "fair price"?

When the adjuster inputs the info into CCC, which is what the majority of insurers use for vehicle valuations it will notify them there’s a branded/salvage title. Then CCC will ask if you want the valuation run as if the vehicle had a salvage title or if you want it run as a normal title. Then somehow CCC adjusts the number, sometimes significantly, if requested to run with the salvage title. On older vehicles, in my experience, the salvage designation didn’t impact the value as much as a newer vehicle. This was years ago, but I imagine it’s still done the same way.

 

[CKN]

When the adjuster inputs the info into CCC, which is what the majority of insurers use for vehicle valuations it will notify them there’s a branded/salvage title. Then CCC will ask if you want the valuation run as if the vehicle had a salvage title or if you want it run as a normal title. Then somehow CCC adjusts the number, sometimes significantly, if requested to run with the salvage title. On older vehicles, in my experience, the salvage designation didn’t impact the value as much as a newer vehicle. This was years ago, but I imagine it’s still done the same way.

Good info. Thanks!

 

[hardcore302]

Yes. I my last 4 cars have been salvaged titles. All have had collision. Peace of mind and used it twice. Better than shelling out more money for repairs.

 

[wtd]

I still keep collision on my two 98 Chevy trucks because it's not that more than liability.

 

[chrlsful]

Anyone (adding) collision insurance coverage to their daily driver beater?

like to give that a conditional "yes". As I only expect to carry it a few yrs.
This is due to what the vehicle is and the inflated used costs bubble we're in.

Just went thru 4 big hassels when 'buying back' insur co's 'totals'. Deffinitly the
right financial decision each time, and so very easily repairable. One was a nightmare w/the
insur co and Commonwealth tho (my own). That 1 took 3 mo on wrking w/those 2 alone. Nother
went smooth (even tho inter-state & 1,800 mi away). 3rd the insur co's repaired did lousy job and customer
is not gunna let that go (radiater leaks, trim falls off, poor paint match, etc). 4th is taking forever for adjuster/insur
co to communicate w/client. All better than fine as I get storage fee from co as it sits here waitin on them. Customer is
not happy but has other vehicles (she loves her '90s Rav4, has put 10K$ into it here over the last yr B4 some 1 rearended her).

 

[kschachn]

One hopes the OP made a decision in the year since this thread was started.

 

[chrlsful]

nov '21? nov '22?
all the same to this car guy...

important topic as ck the current new/used $ bubble...
(and GON s a 'regular')

 

[andrew_j]

….

 

[GON]

Just a update, I am paying collision and comprehension on all six of my vehicles.

If used vehicle prices were not so pricey, I would not have collision or compressive coverage. Heck, I am covering a 2002 F350 with 220k miles with collision/ comprehensive. And the truck sits 360 out of 365 days a year. I have not filed an at fault insurance claim in this century. But think it is best to have protection. I understand the thought process the insurance company will not pay much for my old vehicles, but my gut says in today's market- it is the right thing to do.

Going with my gut.

 

[SubieRubyRoo]

I thought about it but Liberty Mutual won't let me put anything other than liability on a 20 year old DD

You mean Liberty won’t let you pay only for what you need? What a sham! They should change their name to Lucas Mutual!

 

[chrlsful]

trouble is...
w/the 4 cases I cite above the co.s want to pay U what they went for 2 yrs ago (see my remark abt "bubble") when if one goes out to try'n purchase, real market effects are in exsistance. As said in post #45 I'll do this for a short while till it comes back round to 'normal' (if ever? I bet we have 7, 9 mo left). thnx out to andrew and ksch~

 

[64bawagon]

You mean Liberty won’t let you pay only for what you need? What a sham! They should change their name to Lucas Mutual!

I had been with Liberty for 15 yrs, switched about 10 yrs ago and cut my rate in half. I have zero loyalty towards insurance companies.

 

[michaelluscher]

People don't have comprehensive/collision coverage on their daily drivers?

 

[chrlsful]

I dont usually. Currently, it is financially sound, to do so.

 

[nomas]

I wouldn’t assume anything. My brother has State Farm and has had a salvage title on his Jeep since 2015. When it’s down for repairs or he just isn’t using it much, he uninsures it. This last month he asked them to reinstate it, but they added the same coverages to it as his truck which included full coverage. He had to ask them to remove it since it has a salvage title.

How can you have a registered vehicle with no insurance ?

 

[chrlsful]

How can you have a registered vehicle with no insurance ?

state's not expired yet, insur co is or was canceled

 

[Nick1994]

How can you have a registered vehicle with no insurance ?

I'm not sure I understand this question? You can cancel the insurance on any car you want. Just don't drive it.

 

[supton]

People don't have comprehensive/collision coverage on their daily drivers?

I don’t. Value not there. its 20 years, not much value at all.

Although these days it would be impossible to replace—well for a reasonable amount.

 

[nomas]

I'm not sure I understand this question? You can cancel the insurance on any car you want. Just don't drive it.

In Louisiana if you have a vehicle that is registered ( has valid plates ) it must be insured . Doesn't matter if it moves or not .

 

[Nick1994]

In Louisiana if you have a vehicle that is registered ( has valid plates ) it must be insured . Doesn't matter if it moves or not .

And if you call up State Farm and say "uninsure it" what happens?