Auto Insurance

24digger · Post by **24digger** » Thu May 15, 2008 1:44 am

At what point do you guys drop full coverage insurance?

With the price of gas getting so high, trying to save everywhere I can.

I currently have 5 vehicles and full coverage on 3.

All of my vehicles are in good shape and even though they probably aren't worth a whole lot, they are to me.

04crewvt · Post by **04crewvt** » Thu May 15, 2008 2:09 am

I drop collision when I feel I would replace instead of repair a vehicle or the insurance company would total it out for next to nothing. I will carry it on the crew for at least a few more years since it's value is still upwards of 12-14k. In my case I carry a 1000.00 deductible since anything under that I will not claim and these days it doesn't take much to get to that point, it keeps my premiums lower than if I went with a low or no deductible plan. If you have a good driving record shopping around can net vastly different prices for the same coverage. Just for an idea my coverage for the crew which is bundled with my 89 Silverado and my house for maximum discount is just over 425/yr with full collision.

barch97 · Post by **barch97** » Thu May 15, 2008 2:52 am

minutes after I received the title from the bank

Post by **HenryJ** » Thu May 15, 2008 4:07 am

There is $100 premium difference per year between full coverage and just liability for me.
I had intended to drop full coverage, but by going to $1000 deductible the difference is not too bad. The windshield shop I use will waive the deductible on glass, so that in itself may be a good justification for the increased amount of the premium.

I too am one of those who would drop the coverage when it becomes less than cost effective. After five years it usually doesn't make financial sense. Once the value of my truck drops below $10k, I look at the situation closely.

24digger · Post by **24digger** » Thu May 15, 2008 11:28 am

I may try the 1000 deductable route and see how much of a difference I get, I think I have 500 now.

Buy the way my crew has only, I hate to say this, 14000 miles on it so it is like new. Its like my pleasure vehicle I only drive it on nice days.

So that is really my delima. It just turned 6yrs old on monday.

border man · Post by **border man** » Thu May 15, 2008 5:06 pm

I carry $0 deductible full coverage including glass, towing and rental car. I priced the higher deductibles, but the difference for me was only about $100 a year. I will probably drop the full coverage on the wife's car and my truck (both 8 years old) this year. That should save me quite a bit over the year. I'll need it since the new bike will cost me $396/year by itself

roadrunner · Post by **roadrunner** » Thu May 15, 2008 6:54 pm

I carry liability only on all mine except the Crew. Still making payments on it so full coverage required. I have 1000 deductible on both comp and collision. Makes a difference on premiums in my case worthwhile.

barch97 · Post by **barch97** » Fri May 16, 2008 3:33 am

border man wrote: the wife's car and my truck (both 8 years old) this year.

You've got a "2000" S-10CC?

Post by **HenryJ** » Fri May 16, 2008 4:03 am

barch97 wrote:
border man wrote: the wife's car and my truck (both 8 years old) this year.
You've got a "2000" S-10CC?

Yes he does. His is the preproduction conversion.

F9K9 · Post by **F9K9** » Fri May 16, 2008 5:04 am

barch97 wrote:
border man wrote: the wife's car and my truck (both 8 years old) this year.
You've got a "2000" S-10CC?

Glad you were all over that one, Barch

You're just 3.5 yrs behind the Hoffmiester

barch97 · Post by **barch97** » Fri May 16, 2008 5:25 am

border man · Post by **border man** » Fri May 16, 2008 9:38 pm

My truck is actually a 2000 Ext Cab Sonoma according to the VIN. It was converted into a crewcab by Centurion with GM's blessing using parts that were already available in Brazil during that time. I guess it was GM's way of "testing the waters" to see if they should go into actual production in the US.