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+--- Thread: Just Liability or Comp and Collision? (/showthread.php?tid=225139)
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Just Liability or Comp and Collision? - Microman - 01-25-2019
Buying a neighbors 1998 Toyota Sienna. 131K, Great Body. No clear coat flaking. New Tires and Battery. New radiator, etc, Driven 20K in last 7 years. Only paying $1230 after me paying for two additional new tires.
Going to Southern Cal Auto Club, to add to my policy with two other cars that have Comp and Collision.
Should I just get Liability on this Van, or price it out, and if its not too much go for Comp and Collision?
Re: Just Liability or Comp and Collision? - PizzaGod - 01-25-2019
For $1230, it's kind of a throwaway-if you get a low deductible, that would eat up the price pretty quickly. Get a high deductible (like $1000) and why bother?
Third vehicle, how much are you going to use it?
Unless you have a great company and full coverage is dirt cheap I'd pass on a 20 year old car. Actually, writing this, I think that they would look at book value and total it out in most cases anyway.
Re: Just Liability or Comp and Collision? - JoeH - 01-25-2019
Depends on your state, but you might want to have Comp with a high deductible. In many states that gets you coverage for windshield/glass damage without a deductible. Any other major damage would not be worth it for Comp or Collision coverage with a lower deductible.
Re: Just Liability or Comp and Collision? - cbelt3 - 01-25-2019
JoeH for the win there...
Re: Just Liability or Comp and Collision? - wurm - 01-25-2019
When I had older cars with diminished value, I would often opt for what's called Limited Collision. This is in MA, so I don't know if it's available in other states, but if it is it might save you some money.
Re: Just Liability or Comp and Collision? - NewtonMP2100 - 01-25-2019
......so you are saying that your neighbor.....has a great body.....??
Re: Just Liability or Comp and Collision? - graylocks - 01-25-2019
i kept Comp on my 2004 van long after i dropped collision as it would have covered hitting a deer which happens a lot where i live. so far so good for me, though.
Re: Just Liability or Comp and Collision? - Microman - 01-25-2019
It was $130 more for just liability.
$250 for the works, with $250 deductible.
Re: Just Liability or Comp and Collision? - Bill in NC - 01-25-2019
I have several vehicles and comprehensive coverage with a $100 deductible is only around $50/year for each.
So I keep comprehensive coverage on them all, even the ones where I've dropped collision.
Re: Just Liability or Comp and Collision? - Acer - 01-25-2019
I keep collision on until the car is really on its last legs. My logic is that if I do have a less-than-totaled damage, I get access to the insurance company's negotiated rates on repairs, rather than the full sticker price of repairs.