Why old car doesn't need to buy full coverage (Collision & Comprehensive) insurance? Why it's not worth?

Question

Why old car doesn't need to buy full coverage (Collision & Comprehensive) insurance? Why it's not worth?

Answer 1

Because you pay more in insurance, than the car is worth.

Answer 2

Check Kelly Blue Book value of your vehicle @

www.kbb.com

Figure what Comprehensive & Collision on your vehicle would cost you for 3 years... people on average have 1 claim every 3-5 years.

Would you get your $s worth?

Do you have the option of Comprehensive only??

I know Integon and State Farm both allow it. Then if it's an act of God (flood, tree falls on it, wind) or animal (hitting a deer) or your windshield gets cracked by a rock; you'd have coverage. Comprehensive is the less expensive portion of your full-coverage - because the claims are not your fault.

Collision takes care of occurances that are your fault and hit&runs - that's why it's more expensive.

IF you have only one vehicle and no means to replace it - you do need it. Don't take your agent's opinion if you know you need it. If they're not willing, find another agent

Answer 3

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