when should i get rid of comprehensive car insurance

What are people's thoughts on how long to keep comprehensive coverage on a vehicle, if there is no loan involved (and therefore no lender requirement to maintain such coverage)? Would you drop the comprehensive coverage as soon as you could comfortably replace the vehicle out of savings, essentially self-insuring? The book value of the vehicle in question is about $7,500, so we're not talking enormous sums. Asking because my insurance has just gone up to $1,600 per year thanks to a fender bender involving a deer several months ago and that feels like a lot. I'm not sure how low it would be if I just cut back to liability; will have to inquire with my insurance agent next week. For example, let’s say I have a $10,000 car and a $1,000 deductible when should i get rid of comprehensive car insurance.
However, if I only had a $2,000 car and a $1,000 deductible I’d only expect about $1,000. Copyright © 1998-2015 by Quinstreet, Inc. All Rights Reserved. Insurance licenses. I am guessing your comprehensive deductible is around $500, and a totaling of your car would net only a $5000 payout car insurance quotes ni.

when to get rid of comprehensive car insurance

I figured out it's time to drop comp and collision and just save the money towards a new car when to get rid of comprehensive car insurance. Let’s say it costs you $1,000 per year to add comprehensive and collision with a $500 deductible vehicle insurance articles. If your car is only worth $2,500, the most you’d receive if it were stolen is a check for $2,000 — so it probably wouldn’t be worth the expense. To perform this calculation for yourself, check your car’s current value at. I have a 2000 Nissan Altima and am paying $980 annually without comprehensive coverage new car deals with free insurance for 19 year olds.