Question:
I have a 1998 Chevy Cavalier LS 4 door. Right now I have full coverage. Since the car is 10 yrs. old I was thinking of just having liability coverage. The car is in real good condition though. No rust, little damage, just some scratches and a couple of small bb dents on the passanger front door. Since the car is as old as it is the value isn't that great I'm sure, would it benefit me to drop comprehensive and collision coverage and just have liablity?
Answers:
Drop collision and comp car insurance?
Normally for old cars It is better to have a high Liability Insurance and little/no comprehensive and collision coverage.Because sometimes the premium what you pay for the coverage for this car might be more than the value of the car itself.Better calculate your premium and worst case loss that you may suffer due to damage to your car and decide to go for whichever is better.How long will it take me to get my driving licence?
Depends, do you have it financed?My father has a car with a liability insurance can i take my driving test with this car?
Just keep your liability.Drop the rest.(providing it does not have a lein)
Will my insurance rates go up?
yes...if you count the deductible you pay if something were to happen...you're losing $...although...you'll probably save only $50 to !00 off your yearly premiumSince the car is paid off the decision is up to you. If you get into an accident and you only have liability that is only going to cover the other person so if your car is total you are out of luck. If you keep full coverage on the car and it is total your insurance will pay you some amount of money allowing you to get another car.
How much does it usually cost to switch car tags over between states?
I think that you should keep the full coverage even though the car is 9 years old. I say that because the couple of hundred dollars that you will save just taking liability you will get double that in the even of an accident. Meaning lets say just taking liability will decrease your policy by $500, but if your car is involved in an accident 9 times out of 10 the damages will cost more than $500. Keep the full coverage and take the lowest deductible you can get. If your car is totaled your insureance company will pay you what the car is worth and you will still be able to get another car. With liability only, they won't pay any thing leaving you to get another car on your own.You need to take a look at a couple of things. Check on www.nada.com and see what the market value is of your vehicle. Then find out how much you are paying for the comprehensive and collision coverages per year on your car. By checking out these two numbers you should be able to see whether it is worth it to have full coverage.
My car was stolen and crashed. I only have liability coverage.?
It would make sense in this case to drop the comp and collision. But understand that if you have an accident and it's your fault (or you can't get paid by another company) that you won't be compensated for your damages or total loss of your vehicle. You'll be on your own to fix or replace it.More Questions & Answers ...
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