This question is about car insurance!

[maxinmotion]

When is a car too old to have full coverage insurance? My car is thirteen years old, I was told I should not have full coverage insurance on it. What do you think? 

My son-in-law had an accident in that same car on Thursday, the accident was not his fault, the other driver ran a red light. No one was hurt just broken grill in front of my car and side damage to the other car. Do I need to report this to my insurance company.

[oonamas]

When is a car too old to have full coverage insurance? My car is thirteen years old, I was told I should not have full coverage insurance on it. What do you think? 

My son-in-law had an accident in that same car on Thursday, the accident was not his fault, the other driver ran a red light. No one was hurt just broken grill in front of my car and side damage to the other car. Do I need to report this to my insurance company.

No, you need to report it to his insurance company if it was his fault and he's accepting responsibility (or if you can prove responsibility). It would only need to go on your insurance if the other driver was uninsured.

Once the car is basically no longer depreciatating (I'd say anything under $3k blue book) you should definitely change to liability insurance only. If you do total a car that old and cheap, you can just sell it for parts if it's in an accident and be fine. Your insurance will be a lot cheaper.

[maxinmotion]

Thanks, since the accident is still new should I wait before I change the insurance to liability. I will blue book it first. The car is a 1999 Chrysler Concorde.

[cobson]

I think you should get full cover.  specialy it's an old car must be less expansive.  friend of mine get his policy for his 88 VW for $300 a year

[lorraine_bka]

I would check and see how much my deductible is and price a grill. Which ever is cheaper is what I would do that is if the other drivers insurance does not cover it but it should.  Now about the rest I don't think that you what to take full coverage off of you car. Here is why I had a 2003 Cavalier and my insurance company told me when I first bought it that they didn't think that I needed full coverage because the car was not worth that much. Even though it was a good car with low miles. Well a year after having it my husband hit a deer in it, and now we can't pay to fix it. When I called the insurance company to take it off my insurance because it is not drivable they said well why didn't you have full coverage on it like the rest of your cars? Really? So I would keep full coverage on it. Yes it is a little more but you don't want to be like me and not have a way to fix it. At least if they won't repair it if you get in a serious accident they will pay you what it is worth so you can put it down on another car. Please keep full coverage.

[dreamyxo]

I agree about dropping coverage on an old car.  When my car reached 10 years old (it's 12 now) I dropped it down to cover only liability.  If the car is totaled the amount to fix it may be more than the car is worth.  It's not worth it to me to pay for extra coverage when I'm not going to get a decent value of the car.  Right now my car is only worth $2k tops. I don't want to pay more for insurance than what the car is worth.

[dreamyxo]

I would check and see how much my deductible is and price a grill. Which ever is cheaper is what I would do that is if the other drivers insurance does not cover it but it should.  Now about the rest I don't think that you what to take full coverage off of you car. Here is why I had a 2003 Cavalier and my insurance company told me when I first bought it that they didn't think that I needed full coverage because the car was not worth that much. Even though it was a good car with low miles. Well a year after having it my husband hit a deer in it, and now we can't pay to fix it. When I called the insurance company to take it off my insurance because it is not drivable they said well why didn't you have full coverage on it like the rest of your cars? Really? So I would keep full coverage on it. Yes it is a little more but you don't want to be like me and not have a way to fix it. At least if they won't repair it if you get in a serious accident they will pay you what it is worth so you can put it down on another car. Please keep full coverage.

Because they want to get more money out of you.  How much would it cost to fix the car?  I suspect the cost of repairs was probably more than the car is worth.  Insurance will only pay for the value of the car minus your deductible.  A deer can completely total a car.  I live in fear of a deer hitting my car.

[vp44]

I would shop around for the best coverage and prices. Only Insurance agents can let you know what is best and also by shopping around you can decide then which is best. Where I live I dont have any chance of hitting a deer, so Im safe on that. I have 95 Olds and I have only what the state law requires you to have. Normally when you have full coverage its because your still making payments on it and a leasing company is listed on your dmv registration.

[scollontrade]

Go to the newspaper, craigslist or local pennysaver style advertiser to see what you can buy your car for and that should decide it for you.

[kaitsilva]

Go with full coverage, especially where it's so much less expensive for older cars! It way not be worth much as far as sale value, but I'm sure it still means a lot to YOU if it's your main means of transportation!

[vickysue]

I worked for an insurance co. Usually it is best to drop full coverage after 10 years. Although i know an insurance company that was charging full coverage on a car that was 25 years old, The old lady was 90 years old and on a fixed income. That was very dishonest. I did not work for that company. If you have older relatives driving old cars, please check their insurance. Because they don't need the full coverage. 

[dauna]

I work in insurance and this question comes up all the time.  And whether or not you should keep physical damage coverage on a car is something that in the end only the individual can answer.  In other words..it depends.  If something happens to total the car out--even if it's "only" a couple of thousand dollars--are you in the position to repair/replace on your own?  If you take off the coverage for comprehensive and collision and something happens, it's all on you.  A few thousand dollars may not mean much to some.  To others trying to come up with that amount would work a real hardship.  Keep in mind that whenever a vehicle is totaled the insurance company will offer you the actual cash value of the vehicle at the time of the incident less your deductible.  This is assuming you are responsible for repairing your vehicle; if it's the other guy's fault then his insurance should cover you.  Unless he isn't insured.  And that's why you carry uninsured motorist coverage.  Right?

Earlier the question came up about reporting an incident to your insurance company.  It's a good idea to do it, even it the fault is clearly with the other party.  I've seen it happen more than once that the other party (and the other party's insurance) will drag their feet a little, or try to get off cheaper than they first stated, or both.  Sad but true.  Your company can go to bat on your behalf if need be.  And (last but not least) if you are involved in an accident with someone and the police show up, go ahead and get a copy of the police report even if you're as innocent as the morn.  It can be a very handy thing to have.

There--I've said my piece.

[vmcutshall]

When is a car too old to have full coverage insurance? My car is thirteen years old, I was told I should not have full coverage insurance on it. What do you think?

My son-in-law had an accident in that same car on Thursday, the accident was not his fault, the other driver ran a red light. No one was hurt just broken grill in front of my car and side damage to the other car. Do I need to report this to my insurance company.

I think it is a good idea to report it to your insurance because in some states it is the state law. My son totaled their 4runner and no he did not have full coverage and our insurance did not even cover the doctor bills or the emergency bills now they have about $30,000 in bills because of the accident.

When my daughter was rear ended by an armored truck our insurance paid all of her medical bills and then they went after the other insurance.

My self I believe in carrying full coverage but sometimes you just can't afford it.

[candyterrius]

I think it’s best you consult with your auto insurance agent with this question. You’re still going to have to decide what you want at the end. I don’t have full coverage. My car is around 14-15 years old and I just buy the basics. I have seen people choose the option to not report the accident to their auto insurance agent because it would stay on their auto record with high insurance premium. Both parties would reach a mutual agreement of the person at fault offering to pay for the damages privately.

[healthfreedom]

I THINK IT'S GOOD IDEA TO HAVE COLLISION INSURANCE ON A CAR EVEN IF IT'S OLD. IT ALL DEPENDS ON HOW "YOU" VALUE THE CAR.