At what point would you drop full coverage and just have liability on your car?

can you afford to buy your own car if you are hit by someone who does not have insurance, or is underinsured? or can you afford to fix your car if say a tree branch falls on it?

quote:

Originally posted by Ronnie P.:
At what point would you drop full coverage and just have liability on your car?

When you can no longer afford full coverage.

What type of car do you have? What is the car's cash value? When the cars worth is lesser than what the insurance cost is per year or couple of years, then I would drop collision and keep the rest. Most folks in this area do not have insurance at all. So if you were in an accident and it was their fault, you would be stuck. You could go through the crap of getting a judgement against them but they still don't have to pay. Been there and done that and lost in the end. Anyway, look at the car's value and what you pay for insurance per year. If the car becomes totalled, what would it cost to replace that same car with a used one of the same condition. If the replacement cost is close to what you would be saving by dropping coverage, then drop it. I still have full coverage on my 2000 4x4 F150 Lariat but it only has 60k on the odometer. If I had more miles on it, it's worth would be less and I would drop my coverage.

Now if you still owe money on your car, you have to carry full coverage.

We bought my daughter a car that was A 1996 model and we only put liability on it. I do not understand parents that buy a first year driver a new car. I want the best for my child also but use a little common sense.

Consumer's reports says drop full coverage if the vehicle is valued at less than 4k. I sell car insurance...it costs about 150 bucks for collision and 100 for comprehensive. Remeber too, in Alababma uninsured motorist coverage does NOT cover your car...If some idiot with no insurance (cuz he/she's got no money and/or a horrible ability to drive) hits your car...you lose it ..now ya have to get another one and put full coverage on it if financed...just my free advice and arguably worth what ya paid

I have had to replace one car because I had nothing but liability. Two others were totaled by non-insured drivers and one by a horse. One driver was taking his wife to work and ran right out in the highway. Both had good jobs and no insurance.
The other was a neer do well trying to fake and draw disability. I got a judgment against him, but he never paid; City employee that had all kinds of judgements against him. Cannot understand why they are not jailed if they fail to have insurance. Sad that you try to do what is right and you wind up losing.

It's a 2002 but has almost 200k on it. It looks like it is worth more than 4k but after I hit 200k I might think about dropping the full coverage. The difference is about $60 a month.

Thanks for all the helpful feedback.

quote:

Originally posted by pineywoodscat:
I have had to replace one car because I had nothing but liability. Two others were totaled by non-insured drivers and one by a horse. One driver was taking his wife to work and ran right out in the highway. Both had good jobs and no insurance.
The other was a neer do well trying to fake and draw disability. I got a judgment against him, but he never paid; City employee that had all kinds of judgements against him. Cannot understand why they are not jailed if they fail to have insurance. Sad that you try to do what is right and you wind up losing.

In Alabama, there are too many scofflaws who drive without insurance. They make one monthly payment on a policy to get the ID card confirming that they are insured; then they quit paying and their insurance is revoked, but they still have the ID card as "proof of insurance." In Georgia, that will not work, since that state requires insurors to notify the DMV when a driver's insurance has lapsed. and law enforcement officers can query the state's electronic records from the police car's on-board computer to determine whether a vehicle is or is not insured. As usual, Alabama is behind in this kind of technology. Maybe our political leaders don't want to offend the scofflaw voters by tightening up the insurance tracking system to make it truly useful and timely.

We got too many Reps with Macaroni for a backbone. I am ashamed to say I voted for some of these Meatballs; NOT AGAIN! All they can seem to do is stand up and wiggle and waffle and never say anything. Not a Man in the crowd.

quote:

Originally posted by pineywoodscat:
We got too many Reps with Macaroni for a backbone.

This has to be the quote of the day!

What do you have...macaroni for a backbone?

quote:

Originally posted by unclegus:

quote:

Originally posted by pineywoodscat:
We got too many Reps with Macaroni for a backbone.

This has to be the quote of the day!

What do you have...macaroni for a backbone?

Well it must be Democrats because we never sent a Rep(ublican) from North Alabama. Always sending somebody acting like they got a hushpuppie in both jaws. You get about as much back as what you sent down there.