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Insurance, comprehensive coverage, what do you [long] Posted by bender [Email]  (#268)  [Profile/Gallery]
(more from bender) on Wed, 29 Dec 2010 17:17:00
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Saabers have?
I was reading this in a mag today, how you could consider dropping comprehensive coverage on your car, especially if it isn't worth that much. It then got me thinking on how most of insurance is psychological (Oooo, I get the "platinum" coverage....really makes you feel comfortably protected. Just the thought of no insurance makes me feel as though I'm going out there naked, if I may).
I don't know the exact numbers, but say your car was bought for 3k and to them it's worth 2k, just what is the point in paying them for all of this coverage? I'll gladly take the money I would have paid them, deposit it into another account and keep it in case something happens. Or, if my car gets totalled, I'll risk the 3k I paid for it (not to mention I'd be saving all this money by not paying them) and get another. If I could just calculate how long it would take me to pay the insurance company the value of my car, I think it'd be a no brainer on what I should do. They just take advantage of stupid people (sorry, but it's true).
This, goes for any car I'd own (what I mean by that is, if the car got totalled I'd buy another with the saved money) except for one which I currently own. It's a little bit different, (2001 red Viggen, 5 door, pristine condition, super rare, super sentimental value) as it has a great deal of non-monetary value to me. If someone hit my car, or scratched my door so badly that I'd have to fix it, I would feel that some value has been stripped from it in that it will *never* really be quite the same (not the original paint, not factory etc...). So, even if I'm "covered" by the insurance company, I still feel that the coverage isn't worth much to me since they wouldn't be able to bring it to like new condition. In fact, the only person who will be able to do this is me. I would rather buy my own bumper, take it to the best body shop to get painted and then install it myself etc....
So, how much is this insurance coverage really worth? I'm paying a heck of a lot more in the long run...Is it better to have less insurance?
Was hoping to get your thoughts on this as I feel a lot of this is wasted money. I am one who is not afraid to wrench and I do think a lot about my money and where it ends up.
I wonder how much more safely people would drive if they didn't have insurance....
Thanks for sharing, as always.
Bender.
_______________________________________ bender 2001 9-3 Viggen Laser Red 5 door 44k miles 2000 9-3 SE Midnight Blue 5 door (Sold)
, Wed, 29 Dec 2010 17:17:00 <-- Viewing This Message
, Thu, 30 Dec 2010 07:28:28, Thu, 30 Dec 2010 07:14:57
, Fri, 31 Dec 2010 08:21:24
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