At what point do you remove Comprehensive and Collision?

[red-beard]

Looking at the insurance for my wife's BMW. It is 10 years old but still worth ~$10K.

Up for consideration is removing C&C which is about $400 of the insurance bill for her car.

When you do normally remove the C&C?

Car is worth between $9K and $10K from KBB. I expect that the insurance company will value it lower (wholesale). Deductible is $1K.

[masraum]

Can you easily afford to do your own repair or replacement if necessary? Would it be more of a hassle to get the ins co to fix things (and then the corresponding increase and/or cancellation if you end up having 3 claims in a year or whatever their criteria are). How nice is the car. Is it essentially perfect (for a 10yo driver). Are you guys in love with the car and want to keep it for another 5 or 10 years, or would she welcome some new wheels?

I'd think when the value is somewhere between $5k and $10k depending upon the folks paying the insurance, the cost of the ins and the car.

[bob deluke]

After cars are over 6 years old, I take off collision. Have a 2013 and 2014 Volvo, both in great shape. Since retiring, wife and I don’t put a lot of miles on the cars. State Farm has given me great service over 40 years. Most people I know drop collision after cars are paid, or over a certain age. I did have collision on my 77 Porsche because of its value. Not on my daily drivers though.

[greglepore]

Comp is cheap and keep it on most vehicles. Recently had a tree limb fall on my 04 Superduty while driving and it did 4k in damage. The $50 or so annually for comp looks cheap. Windshields etc are covered, as are animal strikes, a real issue here with large deer herds.
Collision is another matter, as it really just protects me against my own stupidity. I figure any vehicle worth 10k or less is a write off if I wreck it.

[KFC911]

Gone. My "drop it" number is higher than yours too. I do have C&C on the Carrera still (mebbe 2/3 of it's value) .... it's not for replacing the car however ... it will buy me a big azz beer to cry in .

[Crowbob]

Lepore sounds right.

Deer strikes are common, here.

[aschen]

The comprehensive is 400 per year or 6 months?

For 800$ a year savings Id be tempted to drop it, but its a personal thing of course. I had a 2006 wrx wagon as a DD until a year or 2 ago, but when I tried to go to liability only the quote was 150$ a year less or something so I didn't bother.

[red-beard]

Comprehensive is about $200/yr. Collision is $200/yr.

[LWJ]

A great question. I have physical damage on my 2000 landcruiser / 2002 boxster / 2006? Subaru.

Then there is that ratty Volvo for my kids to drive...

Mathmatically? I probably shouldn't. Hmmm. Considering I make my living in Commercial Insurance, I guess I should have given this some thought. But I didn't.

Funny. The Cobbler's kids wear no shoes.

[Gogar]

Take it off when you know that any collision other than cosmetic will total the car, or if your heart tells you you wouldn't want the repaired car anyway.

[sc_rufctr]

Regardless of value I always keep my daily on full comprehensive insurance.

If something happens at least you don't have to worry about money as well.

[stevej37]

I keep Comprehensive because of the 'rats with antlers'
Haven't had collision on any of the four cars for the last twenty or more years.
It's worked out fine for me.

[greglepore]

Originally Posted by red-beard

Comprehensive is about $200/yr. Collision is $200/yr.

Wow. My comp is only $100/yr, collision like 3x that

[Tervuren]

I drop it as soon as I am comfortable with my driving in the new to me car.

In my XK it was a week.
My Corvette was a lot longer.
In my case, I've underspent my car savings.
I can immediately replace.
I limit my driving distractions.

[asphaltgambler]

For me I keep it on even cheap cars. From experience if anything happens it protects my 'asset'. There have been times where I did not do this and it bit me in the behind financially. I think you should look at the cost, shop your coverage around instead.

[cabmandone]

I run comp on all of my cars just in case one of my kids hit a deer or have a rock break the windshield. I have collision on my higher value vehicles. I typically wait to drop collision until the value of the vehicle no longer justifies having collision coverage.

[masraum]

Originally Posted by cabmando

I run comp on all of my cars just in case one of my kids hit a deer or have a rock break the windshield. I have collision on my higher value vehicles. I typically wait to drop collision until the value of the vehicle no longer justifies having collision coverage.

having a rock hit a windshield around here is not a free fix like it seems to be in some places. They will wave the deductable for a windshield chip, but it will still count as a claim.

Houston has some of the worst roads for rock chips on windshields. I think a big part of it is due to the soil around here being primarily clay based. So there's always all sorts of trucks driving around dropping tons of mud and rocks on the freeway.

I've had more rock hits and chips and breaks here driving on the freeways than I ever had in FL putting on 2-3x as many miles.

[RANDY P]

What everyone else said, it's such a small amount compared to liability it's worth it.

rjp

[KFC911]

I have never filed a claim for any of my cars or houses... ever. I can replace/fix/write off most of them "out of pocket" at this point and not lose any sleep over it. I've never purchased any extended warranties, etc. either. No regrets....

So far

[GH85Carrera]

I have had my 911 for 26 years and the El Camino for 30 years. They have both gone up in value in those years, so waiting for them to drop in value ain't gonna happen.

In 2007 one of the crazy California (redundant) deer attacked my 911 and bounced of the hood. That was an expensive repair. I took it to my local Oklahoma Porsche specialty body shop and told him to make it look new again. He fixed it to perfection, and it was just a giant bug hit. That one repair will pay for many years of comprehensive insurance.

I can verify that driving down the 405 in LA during rush hour, with a smashed windshield held together with clear packing tape is intense. I had a new windshield installed in San Diego and drove it home to get fixed.

Comprehensive coverage costs me 58 cents per day. I pay $342 per year for full coverage, with an agreed value of $46,000 for the 911.