Full Coverage Vehicle Insurance; For How Long?

[FJR]

Zip code does play a part.

http://www.dmv.org/insurance/car-insurance-rate-factors.php

My bike is the most expensive at around a grand per year. My personal truck is around $600/yr. I think it is an interesting topic trying to determine the line when full coverage should be dropped.

 

[CurSedVoyce]

I think one needs to ask one's self that if they can take and hold back the amount they would normally pay in an account they will not touch each month. Then have that money to purchase a vehicle if shat happens. Can you afford to cash out on another vehicle or make monthly payments on a loan?? Can you replace what you have if you lose it tomorrow?
I don't have mass transit here. I would be screwed if I could not have my vehicle replaced or repaired.

 

[MasterBlaster]

That's a Most Excellent post, Stephen.

 

[MasterBlaster]

And YES! I have to have my horse. Hell, how can one live w/o one???

 

[CurSedVoyce]

Thanks.

 

[Tucker943]

Butch, i think is keep the full coverage. So if you do happen to wreck it, regardless of your exact finances on that day, you'll have money towards getting back on the road quickly. Thats just my opinion.

 

[MasterBlaster]

And I'm down with your opinion.

It's just a fricking high price to pay. Go figure, lol.

 

[CurSedVoyce]

Another way to drop your insurance rate is by lowering your miles driven per year on your policy.

 

[MasterBlaster]

So far, Geico is rocking my world at around 1100 bucks. That's 300 cheaper, if I'm reading all the shit right.

 

[Al Smith]

Your home zip code and many other factors play a big part in determining your insurance costs. Maybe the insurance companies don't like Butch's neighborhood?

On that I had an insurance company give me a quote on a Harley once but they used the Cleveland area as a base .At that time a Harley had about 10 minutes until it got stolen in Cleveland if left unattended .So yes the area makes a big difference plus the fact insurance companies are a legal form of thievery .

 

[SouthSoundTree]

Another thing to think about is if your work truck is totalled, will they pay you the money for the signage put on the truck. I have to add an extra rider (which I don't) for my vinyl signage. My P/U, Dump, chipper signage cost $1k with design costs, IIRC. Someone with a vehicle wrap (probably spendy) might not be covered for it if their vehicle is damaged/ totaled.

 

[MasterBlaster]

Well, I guess I everyone wants to rip me off. Geico, Progressive, and others all wanna charge me just about the same as what I'm already paying; some even wanted more. It must be because I'm not a homeowner and this state orrrrrrr something.

Lordy, what a racket. I'm still gonna keep trying, I've got a month to decide.

 

[treesmith]

I get a discount on my auto insurance because I'm a homeowner, and I get a discount on my homeowner's insurance because I have my autos insured with them. I wonder if it's just a volume discount, or if there's some study showing that homeowners are safer drivers...

 

[lumberjack]

With State Farm that's called a multi line discount, Scott. My renters insurance would save me 12%, but my parents home owner's saves me 17% so I still have them listed.

 

[treesmith]

I know once you get to a 3rd vehicle, you get a multi-car discount with Alfa.

 

[SoonerFan]

Butch, is it just a personal pickup or do you have it listed as a company/work truck?

Maybe the company trucks are more...

 

[MasterBlaster]

I sure as heck don't have it as a work vehicle!

 

[SoonerFan]

Then your premium just doen't make sense.

 

[MasterBlaster]

And I've had the same insurance people for decades.

 

[treesmith]

When I was carrying insurance on my 1980 GMC 1-ton dump truck, $800+/year was the best I could find for liability only. I was using it to haul off shingles from roofing jobs, and calculated that my yearly usage was under 5000 miles, but that was the best rate I could find. I discovered it ran fine without insurance. I tried to insure it as a personal vehicle, but my company treats anything bigger than a 3/4 ton as commercial.

 

[MasterBlaster]

Well I said frig it, no more full coverage. Just liability, 735 bucks. What a racket!!!