[quote=spdrun]Don’t carry anything other than liability (to $500k) and medical. Problem solved. “Book value” may be low, but the devil you know is often better than the devil you don’t know.
I’m not big on safety — my ideal newer car would be a Tesla Roadster, Lotus Elise, or Fiat 500.[/quote]
That’s another problem. Because then when you go off somewhere and rent a car, you get gouged by paying for car rental supplemental collision insurance. You can’t waive it if you don’t have collision coverage on any of your cars.
Versus if you actually own a beater, collision coverage is dirt cheap… My beater’s collision is $25 for 6 month, and it has no deductible, while my newer truck has a $500 deductible….
However when I rent a car, the better collision policy on either car applies to the rental (no deductible).
Also, comprehensive ends up being extremely cheap on a beater. I think a no-deductible comprhensive ends up being a few bucks too. That takes care of things like if you’re driving on the freeway and a rock hits your windshield and it cracks.
