New Car-Liability Insurance only- Would You?

[Zee09]

No and neither do I have the Stupiditude to have liability only on a new vehicle.

Seriously I believe you could pull it off if anybody could.

 

[TheLawnRanger]

Nope

 

[Rand]

Seriously I believe you could pull it off if anybody could.

Right back at ya, For some reason you took my comment as personal. It wasnt.
It is however stupidity to not carry full insurance on a new vehicle
An example in my case the savings would take 60 years+ to equal 1 wrecked car.

Whats next who has the "fortitude" to not carry home insurance during hurricane season in Florida?
That wouldnt be fortitude either.

Definition of fortitude: strength of mind that enables a person to encounter danger or bear pain or adversity with courage​

Definition of stupid: given to unintelligent decisions or acts : acting in an unintelligent or careless manner​

I ask you which(or both) fits the definition of not carrying full insurance on a new vehicle.

 

[michaelluscher]

On the other side of the coin, I kept full coverage on my old Rav4 with over 350,000 miles on it. Finally dropped collision when it hit about 380,000 miles.

I thought I was a wild man when I went two weeks without health insurance while changing jobs.

If it's a newer vehicle, whether bought cash or credit, I wouldn't feel comfortable leaving the lot without full coverage w/GAP

If it's totalled on the way home, you could probably sue for your down payment back

Everything in my signature has full coverage
We priced out not having it, we'd save maybe $400 a year on all of them
With the used market around my area (NYC) and how people drive around me (NYC) if your cars worth keeping to next inspection or registration, you have full coverage on it
It paid off on my late Taurus

 

[Zee09]

Right back at ya, For some reason you took my comment as personal. It wasnt.
It is however stupidity to not carry full insurance on a new vehicle
An example in my case the savings would take 60 years+ to equal 1 wrecked car.

Whats next who has the "fortitude" to not carry home insurance during hurricane season in Florida?
That wouldnt be fortitude either.

Definition of fortitude: strength of mind that enables a person to encounter danger or bear pain or adversity with courage​

Definition of stupid: given to unintelligent decisions or acts : acting in an unintelligent or careless manner​

I ask you which(or both) fits the definition of not carrying full insurance on a new vehicle.

You have described yourself well. No need for me to comment further. Happy 4th to you.

 

[97prizm]

Alot of insurance companies require full coverage on new vehicles

 

[Cujet]

I'm thinking about purchasing a new Accord Hybrid. I may carry only the minimum insurance required.

Over the years, the auto insurance premiums I've paid, far outstrip the cost of a brand new luxury vehicle.

The same goes for my Cessna 177RG. I do not carry insurance on it, and the savings over the last 15 years of ownership would pay for it's replacement, 100% plus a hangar full of spare parts.

The more you own, and the more you self insure, the farther ahead you will be, even with a few setbacks. Remember, your used vehicles can be replaced for a cost lower than new, often much lower. Yet the premium is often as high or higher on older vehicles. My 2009 F150's full coverage premium costs me 10% of the vehicles value every year.

 

[Cujet]

Alot of insurance companies require full coverage on new vehicles

Do you mean lenders?

 

[Andrew1972]

Do you have the fortitude to get only liability insurance on a new vehicle.
Of course this means no loans on it. Paid off! Well????????????

If you can replace the vehicle cash without thinking about it or effecting your financial situation sure. I mostly self insure except vehicles and home owners. I buy no one extended warranties.

 

[Zee09]

I'm thinking about purchasing a new Accord Hybrid. I may carry only the minimum insurance required.

Over the years, the auto insurance premiums I've paid, far outstrip the cost of a brand new luxury vehicle.

The same goes for my Cessna 177RG. I do not carry insurance on it, and the savings over the last 15 years of ownership would pay for it's replacement, 100% plus a hangar full of spare parts.

The more you own, and the more you self insure, the farther ahead you will be, even with a few setbacks. Remember, your used vehicles can be replaced for a cost lower than new, often much lower. Yet the premium is often as high or higher on older vehicles. My 2009 F150's full coverage premium costs me 10% of the vehicles value every year.

Absolutely....
I have full coverage on everything but like you it gets old. Use it once and you get screwed anyway.
My houses I do insure as well because they do worry me. They are all paid off but the minute I drop insurance they would burn...