Got into an accident today, 2012 mustang GT
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Joined: December 14, 2007
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From: State of Jefferson Mountains USA
That's not the issue. The issue is its current value and whether you have cash reserves to pay out of pocket. If you don't have cash reserves then a person would be wise in having full coverage - regardless if there is a loan attached to the vehicle or not.
Same decision making process for homeowners coverage, health insurance, etc. If you have assets - and don't want to lose them to unforseen events - or worse have to file banko because you don't have enough cash reserves to replace material assets or get proper medical care - then the wise money manager buys insurance.
Same decision making process for homeowners coverage, health insurance, etc. If you have assets - and don't want to lose them to unforseen events - or worse have to file banko because you don't have enough cash reserves to replace material assets or get proper medical care - then the wise money manager buys insurance.
Last edited by cdynaco; Sep 2, 2012 at 12:34 PM.
Shelby GT500 Member
Joined: December 20, 2011
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From: CenTex...sort of
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That's not the issue. The issue is its current value and whether you have cash reserves to pay out of pocket. If you don't have cash reserves then a person would be wise in having full coverage - regardless if there is a loan attached to the vehicle or not.
Same decision making process for homeowners coverage, health insurance, etc. If you have assets - and don't want to lose them to unforseen events - or worse have to file banko because you don't have enough cash reserves to replace material assets or get proper medical care - then the wise money manager buys insurance.
Same decision making process for homeowners coverage, health insurance, etc. If you have assets - and don't want to lose them to unforseen events - or worse have to file banko because you don't have enough cash reserves to replace material assets or get proper medical care - then the wise money manager buys insurance.
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Joined: March 9, 2011
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Originally Posted by Will3212
I have a gated drive way that I always park the car. Other than that it's usually at the garage parking my job offers. I pay about $100 a month right now for insurance. Full coverage would be close to $350 a month.
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Originally Posted by Will3212
My house has a driveway with a locked gate. My job offers garage parking. I pay about $100 per month now for car insurance. Full coverage is $350 per month. I didn't feel I needed full coverage.
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Do you feel like you need full coverage now? That's what insurance is for, to cover UNFORESEEN events. It doesn't matter where you park your car, you still have to drive it places. That is where you would really need the full coverage. Even if your car is paid off wouldn't you want to protect that investment? It's fairly easy for even a minor collision to cost thousands of dollars. It's your car and your money so do what you like but just remember, 'a fool and his money are soon parted'.
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Joined: November 6, 2011
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From: Texas
Originally Posted by LagunaBeach
Do you feel like you need full coverage now? That's what insurance is for, to cover UNFORESEEN events. It doesn't matter where you park your car, you still have to drive it places. That is where you would really need the full coverage. Even if your car is paid off wouldn't you want to protect that investment? It's fairly easy for even a minor collision to cost thousands of dollars. It's your car and your money so do what you like but just remember, 'a fool and his money are soon parted'.
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$6,500 but I have great comprehensive insurance that covers my aftermarket parts and rims. If I blow my engine they pay for a new one, oh and no deductible. I've never had an accident and never had a ticket ( go on my record, lol ) and my wife's mother is an insurance agent so it only costs me $96 a month. I love my car and I won't get rid of her and never let her die
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Joined: March 24, 2011
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From: Roswell, New Mexico
Wow. I pay $68.00 a month for full coverage, Gap, 250 comp/collision, 350K medical, 100K property.
Looks like you have a crappy insurance company or your driving history is crap.
Looks like you have a crappy insurance company or your driving history is crap.
Mach 1 Member
Joined: January 12, 2012
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From: Suburbs of Dallas
What are you? A 17 year old with a license that's already been suspended from tickets and wrecks?
I carry full coverage for both myself and my wife on both my '12 Mustang and her '09 Camry, and that only costs me $135 per month.
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nope, never been in an accident, I'm 24 years old though, male. I have geiko
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Originally Posted by Moustang
What are you? A 17 year old with a license that's already been suspended from tickets and wrecks?
I carry full coverage for both myself and my wife on both my '12 Mustang and her '09 Camry, and that only costs me $135 per month.
