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Thread: Car Insurance

  1. #1
    oklagp1200r's Avatar
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    Car Insurance

    I have a 2001 Ford Explorer Sport Trac with 138,000 miles on her and still running strong! This is our only vehicle and we have since it was new had full coverage insurance on her. My question is when is a vehicle to old to have full coverage on it instead of just liability coverage? Blue book value is $4200 by the way.


  2. #2
    boostedpgt's Avatar
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    you can get full coverage on anything, but you have to weigh how much you spend on the insurance vs. how much the car is worth. if you make a claim, the insurance is only going to give you book value, if that.

  3. #3
    YoYamma's Avatar
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    The coverage on that $4,200 vehicle probably isn't costing much; I think a big chunk of the cost for auto insurance these days goes to cover you in case you rear-end somebody and they come after you with a greedy ambulance chasing attorney (in FL these are on every street corner now, they run television ads 24/7 on every channel, they have giant billboards on every @#%$& highway and full page ads in the yellow pages too).

    Now when you hit that guy and he screams "whiplash" then comes after you with his trained shark, you'll find out what your insurance is really worth. Without tort reform, this culture of litigation we have in this country is going to keep taking its pound of flesh out of every working person's azz in the nation and helping to destroy living affordably America as we know it. But the insurance companies themselves are also ripping people off too; making a fortune in the process.

    Same thing for medical insurance; the entire thing has turned into a @#$% racquet in my opinion and the hospitals are in on this scheme too. I had a stomach ache a few weeks ago and went to a Centra Care; they thought I might have appendicitis and sent me to the local ER. I was there for about 3 hours for a scan, turned out to be nothing (walked in and walked out) and they slapped my insurance with an $8,000 invoice. Somebody has got to stop the insanity at some point.

  4. #4
    83Gator's Avatar
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    Quote Originally Posted by boostedpgt View Post
    you can get full coverage on anything, but you have to weigh how much you spend on the insurance vs. how much the car is worth. if you make a claim, the insurance is only going to give you book value, if that.
    What boosted said: When a couple years of premiums for "full coverage" is more than enough to have paid for the vehicle (based on it's retail value), then it's usually time to drop the collision/comprehensive. Another rule of thumb would be to carry liability only when you feel you can replace the retail value of the vehicle, from your own funds, w/o any duress on your own finances.

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