Group vote! Car insurance renewal question - Page 2

Laura14 · ‎06-09-2014

@deepwaterdotter wrote:
If financially feasible, I would sell the vehicle that has been repaired three times as soon as possible. That's too much time in the body shop for my comfort. Get what you can for the current vehicle and purchase a new car. You'll feel safer, and your dollars spent on collision insurance will be worth the expenditure.

@deepwaterdotter I went down that road when the accident happened because I thought I was totaled and a new car can't be bought for minimum $20,000 and that's an economy car.

A used car would be frankly what I have now and I'm more comfortable with that than another car I have no idea about.

I didn't think it made sense to spend $20,000 when I have a low mileage vehicle for free even with all of the repairs which are guaranteed for life.

chickenbutt · ‎03-09-2010

I think that if it has not sustained damages that could not be completely fixed, they it retains its value.

If you put that $300 a year in the bank toward your next car it would take ages to have enough to make a difference.

OTOH, I totally see wanting to save that money if you think the value of the vehicle is permanently dimished.

I hope all that made sense. Sometimes things make sense in my head and they don't make sense outside my head.

Laura14 · ‎06-09-2014

@Lipstickdiva wrote:
Unless my car was super old (and I don't consider a 5 year old car to be old) and on its last leg, I would never, ever drop collission on a vehicle that I drive every single day. You just never know. You could be in an accident that isn't really your fault and get cited for it and end up with a wrecked car and no insurance to pay for it.

@Lipstickdiva Did not even think of that. Thank you!

Jordan2 · ‎03-16-2010

$150 isn’t a lot of money to buy you peace of mind, I would keep it.

151949 · ‎03-09-2010

If I had 3 accidents in the short period of time I owned the same car (say 3 to 5 years) I would absolutely be thinking there is something wrong with the way I drive. Just because in the sometimes bizarre way they judge fault in accidents has happened to fall your way - no one has 3 accidents by without being somewhat at fault.I haven't had 3 accidents in 53 years of driving(knocking on wood). And of the 2 accidents I have had one was because I had a seizure which was a side effect of my chemo. & the other was a drunk went thru a red light and hit the side of my car as I was making a left turn. Anyway - since you do seem to be pretty darn accident prone - if I were you I'd stay fully insured.

Laura14 · ‎06-09-2014

@chickenbutt wrote:
I think that if it has not sustained damages that could not be completely fixed, they it retains its value.

If you put that $300 a year in the bank toward your next car it would take ages to have enough to make a difference.

OTOH, I totally see wanting to save that money if you think the value of the vehicle is permanently dimished.

I hope all that made sense. Sometimes things make sense in my head and they don't make sense outside my head.

You make total sense @chickenbutt. I appreciate it so much. I've actually gotten two checks for "diminished value" after two of the accidents because of some law here in Georgia. They haven't been huge but I guess the consensus is that I am being premature here and I should keep it.

And I had plans for an extra $150 to spend. LOL

chickenbutt · ‎03-09-2010

Thanks for hearing me, Laura!

I was in insurance for about 10 years, but it's been a very long time so I cannot really speak with any major authority. I'm mostly just thinking about based on what I would think I might do.

I don't know the value of my vehicle but it's almost 21 years old. I still have full coverage on it but my whole ins bill for a year is around $600 so it's not too bad. Don't know how much of it is for comp & collision.

I actually love my vehicle and it's actually my last car so I hope nobody else hurts it. I might just go crazy on them! Furthermore, I bought it brand new and have less than 50,000 miles on it. Every time I take it somewhere for servicing the mechanics try to buy it from me. I told my husband that if I die and he doesn't want to keep my car just go to these places and make sure you get top dollar.

Laura14 · ‎06-09-2014

@151949 wrote:
If I had 3 accidents in the short period of time I owned the same car (say 3 to 5 years) I would absolutely be thinking there is something wrong with the way I drive. Just because in the sometimes bizarre way they judge fault in accidents has happened to fall your way - no one has 3 accidents by without being somewhat at fault.I haven't had 3 accidents in 53 years of driving(knocking on wood). And of the 2 accidents I have had one was because I had a seizure which was a side effect of my chemo. & the other was a drunk went thru a red light and hit the side of my car as I was making a left turn. Anyway - since you do seem to be pretty darn accident prone - if I were you I'd stay fully insured.

@151949 If you want to take my inventory, here you go. You be the judge.

#1 Man in pickup rear ended me when I stopped at a stop sign and he did not.

#2 County building parking lot demolished the concrete island they had in the middle of the drop off point without marking it in any way leaving a huge giant 8 foot pothole. I accidentally hit it when I turned because a pedestrian was walking and I didn't want to scare him by driving behind. I paid for this by myself since the government was not even worth the effort to collect from and the insurance company thought so too.

#3 Man in pickup truck ran a stop sign (I had none) and hit my driver door. Had he not slowed down because of the need to turn either way, I would probably not be here which may have made you very happy.

Before these three incidents, I had a clean driving record for over 25 years. Sometimes, like someone else said, it's a run of bad luck and frankly the distracted driving we have going on these days and a lack of common sense by a construction crew.

123SuzyQ123 · ‎03-09-2010

You would not believe how many folks out there drive uninsured! It would be my luck that one of those folks without insurance demolish my car! So, I've kept comp and collision on my old car for all these many years!!

Laura14 · ‎06-09-2014

I appreciate it more than you know @chickenbutt. I kept full coverage on my last car that I had for over 12 years. I guess I'll do the same here. Thank you so much for taking the time to help me.