State Farm notifies the DMV and if your registration stays in effect you can get a flag on your license and have to pay a penalty . I don't know of the timetable for it , but we traded in a vehicle and cancelled the insurance . The dealer sat on the paperwork and my license got flagged . I was able to prove what happened and it worked out ok
Anyone adding collision coverage to their daily driver beater?
- Thread starter GON
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'registration' goes w/plates (& excise tax) in MA. We can do anything we want w/plates now (mail back, throw in trash, etc).
When we say "Done" it is, rebates thru our own efforts, good luck on partial yr.
Insurance, same. A lill easier to recoup (I pay my 500$ yr all at once for savings, U can pay monthly). You DO hafta insur to register but they are not tied togeter when a vehicle sits idle (U have to be active in closing each, seeking refund). One can have a vehicle that is registered but not insured. One can not register a vehicle w/o insurance. Capiche`?
When we say "Done" it is, rebates thru our own efforts, good luck on partial yr.
Insurance, same. A lill easier to recoup (I pay my 500$ yr all at once for savings, U can pay monthly). You DO hafta insur to register but they are not tied togeter when a vehicle sits idle (U have to be active in closing each, seeking refund). One can have a vehicle that is registered but not insured. One can not register a vehicle w/o insurance. Capiche`?
A year into having the car, I probably would have spent more in insurance than I have into the entire car 😂
Nope.
I never removed it 🤷♂️
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I’m at the point where I’m contemplating dropping all but basic coverage on my wife’s and my daily drivers. Problem is, mine is a 2016, and her’s is a 2012 Mercedes. I toy with this every year, and every year I wait, the more money I lose. I probably would save $1,000 bucks a year, maybe more. But is that worth chancing?
Usually I don’t hesitate and I take that chance, and I save. I’m actually at the point where I’m considering removing fire and theft too. I’ve never had a vehicle catch on fire in all the years I’ve been driving, and not had one even close to being stolen. I’m rarely ever in a high crime area. And most vehicles that do get stolen come back with throw up in the back seat and a broken window and some wiring damage. I don’t think anyone would really want to steal a Toyota Avalon anyway.
Usually I don’t hesitate and I take that chance, and I save. I’m actually at the point where I’m considering removing fire and theft too. I’ve never had a vehicle catch on fire in all the years I’ve been driving, and not had one even close to being stolen. I’m rarely ever in a high crime area. And most vehicles that do get stolen come back with throw up in the back seat and a broken window and some wiring damage. I don’t think anyone would really want to steal a Toyota Avalon anyway.
I always carry comprehensive coverage on beaters, mainly for glass and deer damage. Whack a bambi and it's totaled at least you get more than scrap. Windshield replacement to get through state inspections.
Insurance, you don't need it until you need it. Comprehensive coverage is cheap, most folks spend way more yearly on barley pops and they get wizzed out an hour later.
Insurance, you don't need it until you need it. Comprehensive coverage is cheap, most folks spend way more yearly on barley pops and they get wizzed out an hour later.
If I wreck one of my vehicles I’ll just replace it with another cheap vehicle. My emergency fund is my collision insurance.
I carry liability and comp only so no collision coverage on 3/5 vehicles I have ('13 Focus, '08 RX350, and the '03 Passat). My insurance with 2 younger drivers is so much money I just have to save where I can. On an older car at some point it's just not worth the little bit of payout you would get. For the Passat, considering doing Hagerty for a guaranteed value policy since it's worth quite a bit more than the insurance will value it. I have done liability only on other vehicle, my '00 Jetta was only wroth may be $2K and at that point again, not worth it.
Yes, comp is cheap, collision is not and that's the one that's can be worth dropping on older/low value vehicles.
Ok, I actually did a full look at my auto policy based on this and added collision back to the Ford and Lexus. They are worth enough to justify the premium increase which wasn't as much as I thought/remember when I did this analysis a while ago. A few $'00 a year to cover a $5K and $8K vehicle is probably worth it. I also dropped my W8 off and picked up a Hagerty gauaranteed value policy - $10K coverage vs. the basically zero I had before with a normal liabiliy/comp policy that I was paying $600 a year for...now I'm at a grand a year but at least I can get some of what I have into it back....it's worth about $10K or so at this point. I have quite a bit more into it but $!0K is an ok value for me if I totalled it. Plus, if someone else hits me now I have a company that can go to bat with the other insurance for the actual value vs. the insurance value I would likely get with my regular policy.
We typically self insure when possible (when I don't have a loan) and replacement would not be a hardship. Have not had comp or collision in some time, though our non-beater is a 2013 Cruze which would probably be in the beater class or close to it for some. Carry 250/500 liability which is needed for our umbrella.
Zee09
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I have an estate clunker that I keep until things get resolved for $84 a year liability...it's 23 years old so no comp... But if I daily drove it I would.
I added collision to all of my vehicles after my mother got hit by an uninsured motorist and we wound up out a car. Its a couple hundred bucks a year to know that I will get something for a vehicle if something happens.
Uninsured is separate from collision here in VA.
Still not adding collision, not sure it’s “wise”—one’s 20 years old, the other’s 23. The 23 year old one is my daily, 25k/year, it’d hurt to replace I guess, but that doesn’t mean the money spent adding collision will actually get me that much for its replacement in the unlikely event of totaling it. At least that’s what I am assuming?
That's how I approach it. At some point you are self-insured and less your deductible a grand or so at most on a beater/older vehicle isn't worth the '00s a year in premium. Just a math problem really.
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