95-96 Full Coverage Insurance?
01-14-2005, 08:20 AM
#1
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Location: Boston, MA
Posts: 22
95-96 Full Coverage Insurance?
How many of you 95-96 guys have full coverage insurance? I called my insurance company yesterday, I could save almost $300 bucks a year if I drop it. I asked how they determine value if I were to wreck the car. They told me they look at what similiar cars are selling for in the area and go from there. So they don't even go by the book value.
It would suck to total the car, which wouldn't be hard to do if I was in any kind of accident given the cars age, and get nothing for it, but for $300 bucks a year.......
Just curious what you all have
Thanks
It would suck to total the car, which wouldn't be hard to do if I was in any kind of accident given the cars age, and get nothing for it, but for $300 bucks a year.......
Just curious what you all have
Thanks
01-14-2005, 08:31 AM
#5
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Location: Boston, MA
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Full coverage is $700 a year. I have a clean record.
I explained how they value the car in my first post. They can't give me a definitive answer other than "looking at what other cars like it are selling for in the area"
I explained how they value the car in my first post. They can't give me a definitive answer other than "looking at what other cars like it are selling for in the area"
i hate being young (cant gamble, buy alchohol, go to clubs, and he insurence is high as a ****) Oh well nothing i can do
01-14-2005, 09:59 AM
#14
Originally Posted by mgk1068
Sorry to hear that man. So they didn't total your car and give you jack **** for it? How much damage?
01-14-2005, 10:09 AM
#15
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Join Date: Jul 2004
Posts: 148
over 3000 a year for full coverage
Liability 100k/300k
Property Damage 50k
Med Expense 250k
uninsured underinsured motorist
bodily injury 100k / 300k
property damage 50k
EDIT: this is with state farm insurance....this was my first six months of coverage....I will be shopping around now
Liability 100k/300k
Property Damage 50k
Med Expense 250k
uninsured underinsured motorist
bodily injury 100k / 300k
property damage 50k
EDIT: this is with state farm insurance....this was my first six months of coverage....I will be shopping around now
01-14-2005, 10:29 AM
#17
Originally Posted by caudio51
Don't complain about insurance premiums until you live in New Jersey.
NJ insurance does suck. i have full coverage and i pay over 3k a year with a clean record. but then again im still young so its gonna be high anyway. even when i had a beater (89 dodge aries) with liability i still payed a good bit of money. nj is the worste state 
01-14-2005, 10:43 AM
#18
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Join Date: Jan 2005
Posts: 225
I can say that for those who have heavily moded Maximas, its probably a good idea to have collision or comprehensive, or both. On the other hand, some, like myself, see liability coverage as sufficient because gawd forbid you wouldn't want to be financialy liable for an injury or property damage to others. Some are over-insured.
01-14-2005, 01:03 PM
#20
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Posts: 148
Originally Posted by ALC252DM
I can say that for those who have heavily moded Maximas, its probably a good idea to have collision or comprehensive, or both. On the other hand, some, like myself, see liability coverage as sufficient because gawd forbid you wouldn't want to be financialy liable for an injury or property damage to others. Some are over-insured.
in this situation if they dont know about any mods all you will get is blue book value
01-14-2005, 02:29 PM
#22
Originally Posted by DAVE Sz
I'm under my parent's policy so I pay $800 a year for full coverage at allstate. If I wasn't under their policy, $2k+ easily.
my mom is the "full time driver" on the max...for me it would be the same as dave, $2500 is not out of the price range for me on my car....and i have to have full coverage cause im making payments on it
01-14-2005, 02:51 PM
#23
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Join Date: Jan 2005
Posts: 225
This is just the gist of how they determine the value of your car according to an email my insurance carrier sent me when I was considering full coverage.
"Normally we do not recommend carrying Comprehensive and Collision coverage on a vehicle of this age due to the low value that it would be assigned. In a total loss situation, we determine the value off of the cost new of the vehicle, and depreciate the value based off the age of the vehicle. We then adjust this value based on the condition of the vehicle.
"Normally we do not recommend carrying Comprehensive and Collision coverage on a vehicle of this age due to the low value that it would be assigned. In a total loss situation, we determine the value off of the cost new of the vehicle, and depreciate the value based off the age of the vehicle. We then adjust this value based on the condition of the vehicle.
01-14-2005, 02:54 PM
#24
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Join Date: Nov 2000
Posts: 3,883
Statistically speaking, insurance is never worth it, that's why there is something called the insurance industry. Many people take out loans on vehicles, so they have no choice but to insure. On the other hand, it's difficult to spread the risk out over 1 vehicle. Sure, Hertz doesn't buy insurance, they self-insure, but they have a huge fleet in which they have diversified the risk.
If you're a numbers guy, you can use math to prove it's definitely not worth an extra $300 on a 95-96. If you're a practical guy, a night on Broadway with the g/f is well over $300, so give up that night out on the town and you got the coyne to pay for 365 days of collision. Just tell her Mamma Mia and The Producers only had balcony seats left and she'll understand...
If you're a numbers guy, you can use math to prove it's definitely not worth an extra $300 on a 95-96. If you're a practical guy, a night on Broadway with the g/f is well over $300, so give up that night out on the town and you got the coyne to pay for 365 days of collision. Just tell her Mamma Mia and The Producers only had balcony seats left and she'll understand...
My car is under my parents name... no accidents, no tickets... I'm paying $3000 a year full coverage
01-14-2005, 03:16 PM
#27
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Join Date: Jan 2005
Posts: 225
True, but its the law to have insurance coverage to own any vehicle. It all depends on how fancy you are going to get with your car and how much do you want to protect it. Geographical location is a big deal as well.
Originally Posted by Frank Fontaine
Statistically speaking, insurance is never worth it...
01-14-2005, 03:33 PM
#28
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Join Date: Jan 2005
Posts: 225
True but isn't it funny how having mods on your car wont help its value when you are trying to trade it in or sell it? 
Originally Posted by caudio51
make sure if you get insurance that you tell them about the mods....
in this situation if they dont know about any mods all you will get is blue book value
in this situation if they dont know about any mods all you will get is blue book value
01-14-2005, 06:05 PM
#31
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I have full cover with Allstate and pay $750 every six months, so $1500 a year with a $1000 dls. deductible. On my wife's 92 Accord $800 a year with $500 deductible; I really think I am paying a lot, but got no choice because where I leave is not a very save town next to the Bronx and NYC and thieves do not sleep around here. If dropped full cover will be only $800 a year; Besides a have a red color car, calls lots of attention, may dropped full cover when car gets a little older. I bought car a year ago with 45000 miles for $11,200 so if get stolen at least may get some money, maybe $8000.
01-14-2005, 06:41 PM
#33
Rofl dont complain intill you live in Nj, full insurance for me under my name was 2800 for 6 months with state farm, go fig im a full time student where do you think ill find the time to make that much money and pay for expenses on top of that.. The insurance is under my mothers name. I drive the car part time "wink wink". Never got a ticket never pulled over (knock on wood). From the last time I saw the insurance bill just for liability is 840 for 6 months. We are trying to switch over to NJR new jersey remanufacture. With full coverage the bill will be 900 for the year.
01-14-2005, 06:45 PM
#35
My post wasn't directed to you. Nj and NYC insurance rates are just about the same. My post was directed to everyone else who pays less that 800 a year with full coverage and complain. Its hard being in nj and nyc, I hear you.. trust me.
01-14-2005, 07:07 PM
#36
I'm 16 and my dad has bmw x5, on the X5 he has full coverage and on the maxima also full coverage.... we pay 2400 a year... its kinda high cuz im young.... but i expect the x5 to be higher than the maxima. BTW im in New York and have Geico
01-14-2005, 08:01 PM
#37
you guys have absolutely nothing to complain about....with my max, i was paying $3200 every SIX months....thats close to 7k a year....21 year clean record in CT
now with my evo, im up to close to 8K a year...
who wants to complain?
now with my evo, im up to close to 8K a year...
who wants to complain?
01-14-2005, 08:13 PM
#38
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Join Date: Mar 2003
Posts: 996
my thoughts are this..... do you have the money to fix or replace your car if it was crashed..... say 10min from now???? do you need your car for work/school.... do you have a second car you can use if your car was gone???? I carry full coverage on the Max .... well once you have 3 cars on the policy it really is not that much additional to carry it on the older car...... you know the funny thing the oldest car cost the most to insure.....even worse than that is I only drive my 300ZX a few thousand miles a year. My wifes 04 SAAB is the cheapest car of the 3 to insure... go figure
