[quote=flu]BG… There’s a time to save money and pennypinch, and there is a time not to… And when it comes to insurance, it’s an area where you don’t want to skimp on…..You have one car, and basically, what you are suggesting is n to not have collision and not have comprehensive coverage…Bad idea, really bad idea…for the following reasons…[/quote]
Thanks, flu. I’ll leave it as it is. I didn’t think of these issues. The potential savings is about $28.35 mo but I pay bi-annually. I DO find myself having to rent a vehicle about once every 2-3 years and also borrow friends’ pickups on occasion to deliver/pick something up. Also, it would be nice to get the $2-$3K if I should be at fault or partial fault in an accident or have a medical emergency while driving and ditch the vehicle or run into something. The comprehensive coverage issues (theft/weather/hazards, etc) are something I encounter also (i.e. can’t get around a string of rock trucks on the open road, caught in a hailstorm, driving with cables mounted on narrow roads, etc), as I DO drive in the mtns and interstate as least 2x per year. I think my vehicle’s bottom value would/will be probably $2K – $3K, even if it didn’t run. It might be worth at least that in parts, lol! After a vehicle gets this old, the private-party “price” they’re worth is somewhat subjective, depending on service records. Surprisingly, there are LOADS of vehicles exactly like mine (and older) still on the road. That speaks volumes about the quality.