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Re: Insurance and minimal coverage. Anyone do this? Posted by SWEDECAR [Email]  (#112)  [Profile/Gallery]
(more from SWEDECAR) on Sun, 5 May 2013 09:49:16
In Reply to: Insurance and minimal coverage. Anyone do this?, bender   [Profile/Gallery]
, Sat, 4 May 2013 20:17:30
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I have been doing it for years.
My car is not an eye candy but very reliable and suits me well. It is worth nothing for the insurance company and I wouldn't get squat for it.
Since no one out there can be under insured for my cars value, it is no use to have under insured and it is certainly no use to have comprehensive on the ol gal, so I only have uninsured collision which pays up to a certain amount which I think might be $4500.00 in my case. This is still more than I would get if someone totaled my car.
I do however have a high limit on the liability portion due to if I would be at fault.
It certainly comes a point in a cars life where it doesn't make sense to to pay for the cars restoration over and over again but some people also want that warm fussy feeling that everything is taken care of if something happens and they can pick up a rental car right away.
Me, I just lock the door and walk to work if that would happen.
A funny story from my old work place.
All the mechanics had their cars parked on the street by the shop and this lady came down the street and was allegedly forced to swerve because a car in the left lane started to move into her.
She sideswiped and climbed up over 5 of our cars and managed to total them all as far as the insurance company cared. That kind of tells you what cars we mechanics are driving.
Her insurance company informed us that we probably wouldn't get the full value of the cars since she was underinsured and asked us to look into our own policy's for coverage.
When all was sad and done, her low limit was still enough to cover all 5 totaled cars value. Isn't that a hoot.
Anders
, Sat, 4 May 2013 20:17:30, Sun, 5 May 2013 15:37:57
, Sun, 5 May 2013 12:35:29, Sun, 5 May 2013 12:22:13, Sun, 5 May 2013 09:49:16 <-- Viewing This Message, Sat, 4 May 2013 23:29:02
, Sun, 5 May 2013 16:47:13
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