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Re: Auto insurance - when to drop options
Posted: Sat Sep 13, 2014 9:00 pm
by Pointedstick
My criteria is not to carry either of them when I'm at the point where I could easily purchase a comparable replacement car in cash without the expenditure making a noticeable dent in my finances.
Re: Auto insurance - when to drop options
Posted: Sat Sep 13, 2014 11:52 pm
by Reub
When I retired in 2012 I dropped coverage on my older Toyota Avalon since I wouldn't be driving as much. Hurricane Sandy destroyed the car 2 months later and it cost me about ten grand.
Re: Auto insurance - when to drop options
Posted: Sun Sep 14, 2014 6:39 am
by Mountaineer
Collision and comprehensive coverage rates are very reasonable in my area so I tend not to drop them; I don't know if it makes a difference, but I live in a "no fault" state. $1000 deductible for collision is also a good idea. Cost for zero deductible comprehensive is not much - i.e. several years worth of premiums are much less than one windshield replacement.
... Mountaineer