Car Insurance

shipill · 04-14-2011, 01:39 PM

I have a 2007 335 E92 fully paid off, no car payments. The car worth probably around 30K and it's in excellent condition.

I don't know whether or not to drop full coverage and go just to liability. Can someone give me their advise about

whether I should keep full coverage or just drop to liability?

MMachines · 04-14-2011, 01:51 PM

That's one heck of an uninsured liability to have, especially when it's out there in the world with all those other drivers and thieves.

2kaccordocoupe · 04-14-2011, 02:42 PM

Quote:

Originally Posted by MovinUp

That's one heck of an uninsured liability to have, especially when it's out there in the world with all those other drivers and thieves.

+1
If the car was worth say less than 5k or whatever then yes liability only.

Jeff@TopGearSolutions · 04-14-2011, 07:48 PM

I'm an ex insurance agent...

I can tell you unless the car is 10 years old you should keep full coverage.

That is a good rule of thumb.

You should never drop liability... Ever.

Dropping collision or comprehensive down the road is a different story.

99three · 04-14-2011, 09:25 PM

Full coverage for such a car. If you're worried about the payments you can do one of two things.

You can leverage the premium in your favour by increasing the coverage deductibles.
Sell it.

shipill · 04-14-2011, 10:53 PM

Quote:

Originally Posted by 99three

Full coverage for such a car. If you're worried about the payments you can do one of two things.

You can leverage the premium in your favour by increasing the coverage deductibles.
Sell it.

Money is not an issue.

quantumx · 04-14-2011, 11:11 PM

Quote:

Originally Posted by shipill

Money is not an issue.

If money isn't an issue, then what would be the point of dropping coverage in the first place? Did I miss something?

shipill · 04-15-2011, 07:35 AM

Quote:

Originally Posted by briandev

If money isn't an issue, then what would be the point of dropping coverage in the first place? Did I miss something?

Because I don't believe in insurance.

MOAB · 04-15-2011, 08:23 AM

Quote:

Originally Posted by shipill

Because I don't believe in insurance.

I tend to agree re: insurance, but I view property insurane and car insurance as sacrosanct.

04-14-2011, 01:39 PM	#1
shipill Major 454 Rep 1,292 Posts Drives: F10 528 Join Date: Jan 2007 Location: East iTrader: (7)	Car Insurance - Full Coverage or Liability? I have a 2007 335 E92 fully paid off, no car payments. The car worth probably around 30K and it's in excellent condition. I don't know whether or not to drop full coverage and go just to liability. Can someone give me their advise about whether I should keep full coverage or just drop to liability? Last edited by shipill; 04-14-2011 at 10:26 PM..
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04-14-2011, 01:51 PM	#2
MMachines BMW Owner 46 Rep 532 Posts Drives: 2008 E92 M3, 2006 4Runner Join Date: Mar 2009 Location: Oregon iTrader: (1)	That's one heck of an uninsured liability to have, especially when it's out there in the world with all those other drivers and thieves.
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04-14-2011, 07:48 PM	#4
Jeff@TopGearSolutions 3481 Rep 79,210 Posts Drives: C6 Z06, 09 335i, 10 335xi Join Date: Dec 2008 Location: www.TopGearSolutions.com iTrader: (37)	I'm an ex insurance agent... I can tell you unless the car is 10 years old you should keep full coverage. That is a good rule of thumb. You should never drop liability... Ever. Dropping collision or comprehensive down the road is a different story.
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04-14-2011, 09:25 PM	#5
99three Banned 28 Rep 838 Posts Drives: 993, e92, e36, F355, Z32, Jag Join Date: Sep 2010 Location: in the 416 iTrader: (3)	Full coverage for such a car. If you're worried about the payments you can do one of two things. You can leverage the premium in your favour by increasing the coverage deductibles. Sell it.
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