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When should you drop Collision and Comprehensive on an older car?
Wiki User
∙ 14y ago
When the value is so low that it costs less to replace it, than pay for the extra insurance and damage if you are in an accident. For example: A Nissan Sentra 1987 is not worth insuring, you can get another one in good condition for less than $1000 if you wreck it.
Wiki User
∙ 14y ago
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When is the best time to drop full coverage auto insurance Vs collision comperhension?
You have to weigh the value of your vehicle versus the cost of the insurance. If your vehicle is still financed you are required to keep full coverage on the vehicle. Another good option is to drop collision and keep comprehensive on the policy. Collision is if you hit something or turn it over and comprehensive is everything else including animal collisions and broken glass. The higher premium is on the collision.
When is it best to drop collision and comp auto ins?
When you own the car free and clear and know you will be able to repair or replace the car without insurance if there is a loss, or when you know you don't really need the car or the value of it if you no longer have it or the use of it due to a loss. Note also that you can drop Collision but still carry Comprehensive, and if you hit an animal, that would normally fall under Comprehensive rather than Collision. Since Collision is normally much more expensive than Comprehensive, this is worth considering if you're a safe driver and not likely to have an at fault collision. With this option it's even more important to carry Uninsured/Underinsured Motorists coverage.
Why might you decide to drop collision and comprehensive coverage?
You have a very cheap car and any repair will "Wright it off" I have a friend that drives a 1990 Sundance. Retail value $500.00. Comprhensive and collision, For him, $550.00 with $500.00 deductible. Just does not make finacial sense.
When can you drop collision car insurance for your used car?
Anytime after you have paid off the loan on it.
How can you reduce the cost of your insurance?
Choose a higher deductible and drop comprehensive coverage
Cut Costs on Auto Insurance?
In order to lower your auto insurance rates, it is essential that you drop any policy that you do not need. Many people think that if they have a car, they absolutely need collision coverage at all times. The truth of the matter is that as long as you do not have a loan on your vehicle, you do not have to carry collision insurance. By getting rid of this type of coverage, you should be able to save yourself hundreds of dollars every year. This is why it sometimes pays to own an older car for yourself to drive in.
Can insurance on a car be dropped - if is not going to be driven?
Yes but it is not without consequences. If you drop coverage completely then you have no coverage if it is stolen or vandalized. If that is a concern then drop collision coverage but keep the comprehensive portion of the policy. Also, if you are tempted to drive it at all remember that you have zero coverage so if your hit someone or something the entire cost will be yours. Send someone to the hospital and your financial life may be ruined.
How old does a car need to be to not require full coverage in New Jersey?
Let start assuming by full coverage you mean Comprehensive and Collision coverage is included on the policy. Comprehensive and Collision coverage is always optional no matter how old or new the car may be if you have the title to the car. If you don't have title, meaning it is financed or leased, then your lender most likely will require that you keep Comprehensive and Collision coverage. The decision to have or not have Comphrensive or Collision is a personal one that needs to be based on the value of the car and how much you will have to pay for the Comp and Coll premiums. You also have the choice of just deleting Coll. but keep the Comp. By doing this you would reduce your premiums but still keep coverage for damage covered by Comp. Also consider adding Uninsured Motorist Property Damage if you drop the Coll. By doing this you think that because you are a good driver and unlikely to be the cause of the accident you retain coverage for things that are out of your control and save money at the same time.
How did the meteorite collision at the end of the Mesozoic affect the atmosphere and the biosphere?
There would have been a huge temperature drop
For what reason would collision car insurance be needed?
Many people with newer cars keep collision coverage on their policies, but they also may not know when or if they should drop this coverage. While there's no set of rule for determining wether collision coverage becomes unnecessary for your particular situation, there are some simple considerations to make if you're debating wether or not you rshould keep it on your policy.
What is a good general rule as to when to drop Comp and Collision on an old auto?
When insurance for the car, costs more than the car is worth. Well, anonymous is definitely right. If it has reached that point, you probably need to buy a car that's worth insuring. I'd suggest that you drop the C&C when you feel that you could comfortably afford to buy another vehicle of equal value. I've heard a good general rule of thumb is when your annual collision and/or comprehensive premiums start to exceed 10-15% of your cars current market value.
How do you drop hints to older guys that you like them?
How much older? How old are you?,,,,,,,,,,,,, Pretty much just act like you like them, they will get the point. Just be yourself and you will automatically drop hints without knowing it.
