Should I put comprehensive insurance back on my truck?

[The motor guy]

I'd estimate my 07 dodge ram 2500 is probably around 15k. Honestly, im not sure if their is much difference in cost between liability and full comprehensive insurance. I pay $50/month for this truck. I guess its one of tbe benefits to having an older vehicle. The biggest difference is who the carrier is.

 

[mk378]

In a crash not your fault, it is very hard to get paid by the other guy's insurance if you don't carry Collision. When you have Collision, your company will demand the other company pays otherwise they would have to cover you themselves.
In my state collision and comprehensive are paired together you can't buy just one.

 

[CarbonToast]

Really have to know the cost of each liability, collision, comprehensive.

On our fleet which is a 2017, 2015, and 2008 all are liability only as of 6 months ago but each is only worth around $10k.

Also, if its worth $15k, you are only going end up coming out with maybe $10k after deductible and the salvage value. Or you will get a payout and fixable truck.

 

[NiwradND]

I like comprehensive incase of deer/animal hits and storm damage like hail.

 

[The motor guy]

Really have to know the cost of each liability, collision, comprehensive.

On our fleet which is a 2017, 2015, and 2008 all are liability only as of 6 months ago but each is only worth around $10k.

Also, if its worth $15k, you are only going end up coming out with maybe $10k after deductible and the salvage value. Or you will get a payout and fixable truck.

Why would I only only get 10? My deductible is 500

 

[supton]

I have to wonder if the insurance company will really pay out $15k. But ultimately that has to be weighed against the cost of increased insurance cost, and if you'd be better off self insuring.

 

[CarbonToast]

Why would I only only get 10? My deductible is 500

Pessimistic, if you think its worth 15k they probably low ball you at 10k. Or you get closer to what's kbb trade in value.

A good way to save is increase you deductible to $1000

 

[2005jettatdi]

Pessimistic, if you think its worth 15k they probably low ball you at 10k. Or you get closer to what's kbb trade in value.

A good way to save is increase you deductible to $1000

My deductible is $2,000. But then, I have a significant amount in my rainy day account.

 

[brages]

1. How easily could you absorb a complete loss of your truck?

2. Does having the insurance give you a quality of life benefit? (For example, you can more easily enjoy going downtown to watch a ball game because you know if your truck is stolen, you will be covered)


I believe it can be wise to insure against losses that would be hard or impossible to absorb. For smaller losses, you're just playing the odds -- when you insure, the odds favor "the house".

Finally -- I don't think this can be stressed enough -- the "uninsured motorist" coverage you may have with your liability insurance probably doesn't cover property, only medical payments. Even if YOU are a careful driver, your car could be totaled by an uninsured motorist (you see all those expired temp tags driving around? How financially responsible do you think those drivers are?) and YOU will could still be footing the entire bill. This is kind of a sore spot for me because it happened to me.

 

[The_Jeff]

If you do they might have you bring it in somewhere for a stem-to-stern inspection, just in case there's preexisting damage.

Most people get the insurance when a vehicle is brand new and by definition undamaged.

As others wrote, it will make things convenient if you get whacked; just file the claim with your guy and then let everyone fight it out behind the scenes.

 

[dogememe]

In the day of every repair on a car costing $$$$ and cars getting totalled for minor stuff because the parts are impossible to get, in addition to the large number of underinsured or uninsured drivers, comprehensive/collision are a must.

If you have comp/collision, your insurance company will pay you, and go after the other driver and/or their insurance company. Keep in mind that even if they have the minimum insurance, that doesn't get you very far.

In California, the current minimum insurance coverage required is the following... as you can see, setting aside the medical aspect of it, $15,000 covers what, a 10 year old used car??

$30,000 bodily injury/death per person, $60,000 bodily injury/death per accident, and $15,000 property damage

 

[JayhawkRoy]

Comprehensive ins for my grandson (in his late 20's) is 1.3 times the cost of his liability coverage, with a large number of discounts. 2014 Hyundai Santa Fe with 136K miles on it.

 

[HowAboutThis]

I put various changes into my insurance account online and it gave me the premiums for the change before confirming. I don't know if this affected my account in any ways or if they log in checking on things. I ended up just raising the deductible as it wasn't worth the lack of getting a few thousand back if they were totaled. It's kind of up to you. Can you afford 10-15k? Really depends on the monthly cost difference to figure it out for your personal situation. Usually you can call or check different scenarios online in you account

 

[brages]

If you do they might have you bring it in somewhere for a stem-to-stern inspection, just in case there's preexisting damage.

Most people get the insurance when a vehicle is brand new and by definition undamaged..

I've never had to have a car inspected for insurance, and I've only owned used vehicles.

No idea how they prevent fraud, probably just gouge enough on the premiums to make up for it.

 

[repairman54]

Depends on the state for it getting insurance inspected. I moved from NJ to NY and had to get my vehicles inspected in NY. Same Ins. Co also., State Farm, and was with them for years in NJ.

 

[GON]

If you owned a super duty 2017 or newer and lived in the greater Houston Austin, or San Antonio area adding comprehensive might be a good course or action.

Not sure the theft rates of entire vehicles.or certain parts like led headlights for. 2007 Dodge pick-up.

I read.stories of the following almost daily:

The theft of Ford F-350 tail lights is a widespread and costly problem because the high-end LED assemblies, which often contain blind-spot sensors (BLIS), are expensive and easy to remove. Replacement costs can range from $4,000 to over $6,000 for a pair, including labor and damage repairs.

San Antonio a hotspot for truck tail light theft, replacement can cost thousands https://share.google/Rma69ba4GQXvTvhNi

 

[Arc]

If you owned a super duty 2017 or newer and lived in the greater Houston Austin, or San Antonio area adding comprehensive might be a good course or action.

Not sure the theft rates of entire vehicles.or certain parts like led headlights for. 2007 Dodge pick-up.

I read.stories of the following almost daily:

The theft of Ford F-350 tail lights is a widespread and costly problem because the high-end LED assemblies, which often contain blind-spot sensors (BLIS), are expensive and easy to remove. Replacement costs can range from $4,000 to over $6,000 for a pair, including labor and damage repairs.

San Antonio a hotspot for truck tail light theft, replacement can cost thousands https://share.google/Rma69ba4GQXvTvhNi

I fault the guy who buys a truck with thousand dollar tail lights. It's almost as if people just woke up one morning and asked to be abused by the auto industry. Had everyone stopped tolerating this and sales dropped it would have all gone a different direction.

 

[dogememe]

I fault the guy who buys a truck with thousand dollar tail lights. It's almost as if people just woke up one morning and asked to be abused by the auto industry. Had everyone stopped tolerating this and sales dropped it would have all gone a different direction.

I don’t entirely agree. Many things on a modern car are very expensive but the safety improvements or convenience is often worth it.

I suspect Ford actually saves money by just having different tail lights depending on vehicle options. That said, should those tail lights cost $4K? No. $1K would probably be more fair.

 

[The motor guy]

I've never had to have a car inspected for insurance, and I've only owned used vehicles.

No idea how they prevent fraud, probably just gouge enough on the premiums to make up for it.

Idk. They wanted like $1800 for the little chrome face piece on my front bumper. Insurance gave me $1100 and in my pocket it went. They little chrome face bar is like $350 if I did want to buy it. I don't care about a little scratch though

 

[Arc]

I don’t entirely agree. Many things on a modern car are very expensive but the safety improvements or convenience is often worth it.

I suspect Ford actually saves money by just having different tail lights depending on vehicle options. That said, should those tail lights cost $4K? No. $1K would probably be more fair.

I just can't see how putting heaters and circuit boards in a tail light makes is safer or saves money. A simple led lamp in a regular tail light would have been wiser. Who will buy a 15 year old truck if they have to pay four grand for a tail light? Who will buy an older vehicle if the manufacturer locks down the software after x amount of years? The big picture says they are taking control and forcing people to continue to buy new vehicles after x amount of years.