If you're Max is paid off and doesn't have full coverage insurance... alarm?
03-24-2011, 10:19 AM
#1
If you're Max is paid off and doesn't have full coverage insurance... alarm?
Hey guys, my car is finally paid off. I know it's a 02 but I took out a loan to buy it, anyways I have a question about car insurance.
I pay close to 150 a month for full coverage here in FLA, since my car is paid off I wanted to take off the full coverage and just get basic pip.
1. Do you think this is a good idea?
2. Would you put a alarm on your Max?
I know alot of you have nice maximas so I assume you have alarms and all that stuff but if it's stolen and you don't have FC, you're pretty screwed.
What do you think is more sensible? Since
I pay close to 150 a month for full coverage here in FLA, since my car is paid off I wanted to take off the full coverage and just get basic pip.
1. Do you think this is a good idea?
2. Would you put a alarm on your Max?
I know alot of you have nice maximas so I assume you have alarms and all that stuff but if it's stolen and you don't have FC, you're pretty screwed.
What do you think is more sensible? Since
03-24-2011, 10:34 AM
#3
I don't care for all that remote start stuff.
03-24-2011, 10:41 AM
#4
you need to see how theft is in your area, depending on maximas/break-ins/hondas/etc...but if i drop insurance, better believe i'm getting the best on the market or close to it.
have you shopped around for better coverage/rates?
have you shopped around for better coverage/rates?
03-24-2011, 11:02 AM
#5
I live in South Florida... Fort Lauderdale to be exact so I might have to pony up for a better alarm.
03-24-2011, 11:14 AM
#6
Member
Join Date: May 2010
Location: Ottawa, Canada
Posts: 112
i dont need an alarm... i let my pitty/bullmastif sleep in my car lol
honestly thoughm compare the rates between FC and liability (thats what we call in up here) and see if its worth it. there would also be nothing worse than taking off FC and then having an acident that is at fault
honestly thoughm compare the rates between FC and liability (thats what we call in up here) and see if its worth it. there would also be nothing worse than taking off FC and then having an acident that is at fault
03-24-2011, 11:17 AM
#7
Regardless, I don't know about dropping your car insurance. It's a gamble that you may regret should your car get into an accident. What if you get pulled over by the cops? Have you thought about that yet?
03-24-2011, 11:23 AM
#9
when i was thinking about relocating to fort lauderdale a few years ago i asked geico how much my insurance would go done...it DOUBLED. florida is full of old people who cant drive which is why the rates probably suck
03-24-2011, 11:48 AM
#11
Senior Member
Join Date: Dec 2008
Location: NYC
Posts: 1,799
Wow!! Insurance rates in Florida are a complete rip or you have a horrible driving record.
Regardless, I don't know about dropping your car insurance. It's a gamble that you may regret should your car get into an accident. What if you get pulled over by the cops? Have you thought about that yet?
Regardless, I don't know about dropping your car insurance. It's a gamble that you may regret should your car get into an accident. What if you get pulled over by the cops? Have you thought about that yet?
03-24-2011, 11:51 AM
#12
I would definetely drop it to liability then as long as there is a big price difference.
As far as the alarm, how hard is it to bypass NATS?
03-24-2011, 11:54 AM
#13
Senior Member
Join Date: Dec 2008
Location: NYC
Posts: 1,799
That, and I'm sure the hurricanes aren't helping either.
03-24-2011, 01:04 PM
#14
If it were me I would drop to liability but keep comprehensive insurance then you don't have to worry about an alarm.
Comprehensive auto insurance coverage
Comprehensive insurance coverage includes all direct and accidental losses not caused by collision or upset to your insured vehicle or to a vehicle damaged by you, including its equipment.
Generally, comprehensive auto coverage includes:
Comprehensive auto insurance coverage
Comprehensive insurance coverage includes all direct and accidental losses not caused by collision or upset to your insured vehicle or to a vehicle damaged by you, including its equipment.
Generally, comprehensive auto coverage includes:
- Contact with a bird or animal
- Falling or flying objects
- Theft or larceny
- Fire
- Windstorm
- Hail, water or flood
- Malicious mischief or vandalism
- Riot or civil commotion
- Breakage of glass
- Explosion or earthquake
03-24-2011, 01:26 PM
#17
Senior Member
Join Date: Apr 2009
Posts: 2,132
And definitely don't drop BI (bodily injury). If you injure a few people, you're at fault, and their lawyer comes after you for $100,000 in medical bills and hardship, you're protected...without coverage, again you're on the hook personally.
Eliminating these coverage's is just wrong. For the BI, 250,000/500,000 minimum.
Dropping full coverage on a car that's only worth maybe $6000 is the only smart move. But even then, you may only save $40 a month, as it's the other coverage's that are going to cost you the most. May not even be worth removing it.
If you want to save some money, raise your deductable on collision to $1000. That way at least you still have some coverage, but it's only for total loss that you'll actually benefit from it.
03-24-2011, 01:28 PM
#18
Keeping full coverage on mine, definitely need uninsured and under-insured protection here and comprehensive covers me in case of hail which is very common here in the spring. My car is fully paid off and if I have an accident that is my fault, I don't want to come up with the money to fix or replace it.
My recent accident shows why it is important-the other guy's insurance was offering me quite a bit less for my car than my insurance did. Plus it made the process a lot quicker, able to get paid for the car faster through my insurance (and let them go after the other guy) than going through the insurance company of the guy who hit me.
My recent accident shows why it is important-the other guy's insurance was offering me quite a bit less for my car than my insurance did. Plus it made the process a lot quicker, able to get paid for the car faster through my insurance (and let them go after the other guy) than going through the insurance company of the guy who hit me.
Last edited by Scottwax; 03-24-2011 at 01:30 PM.
03-24-2011, 01:31 PM
#19
Dude, you couldn't be more wrong. Liability protects you. What if it's your fault and you cream an $80,000 car, among others in a rearender? You're on teh hook for all the property damage...and I think in most states it's the minimum required along with PIP, so you can't drop it entirely.
And definitely don't drop BI (bodily injury). If you injure a few people, you're at fault, and their lawyer comes after you for $100,000 in medical bills and hardship, you're protected...without coverage, again you're on the hook personally.
Eliminating these coverage's is just wrong. For the BI, 250,000/500,000 minimum.
Dropping full coverage on a car that's only worth maybe $6000 is the only smart move. But even then, you may only save $40 a month, as it's the other coverage's that are going to cost you the most. May not even be worth removing it.
If you want to save some money, raise your deductable on collision to $1000. That way at least you still have some coverage, but it's only for total loss that you'll actually benefit from it.
And definitely don't drop BI (bodily injury). If you injure a few people, you're at fault, and their lawyer comes after you for $100,000 in medical bills and hardship, you're protected...without coverage, again you're on the hook personally.
Eliminating these coverage's is just wrong. For the BI, 250,000/500,000 minimum.
Dropping full coverage on a car that's only worth maybe $6000 is the only smart move. But even then, you may only save $40 a month, as it's the other coverage's that are going to cost you the most. May not even be worth removing it.
If you want to save some money, raise your deductable on collision to $1000. That way at least you still have some coverage, but it's only for total loss that you'll actually benefit from it.
Last edited by rosader; 03-24-2011 at 01:40 PM.
03-24-2011, 01:37 PM
#20
Member
Join Date: Mar 2011
Location: Cincy, OH
Posts: 92
If it were me I would drop to liability but keep comprehensive insurance then you don't have to worry about an alarm.
Comprehensive auto insurance coverage
Comprehensive insurance coverage includes all direct and accidental losses not caused by collision or upset to your insured vehicle or to a vehicle damaged by you, including its equipment.
Generally, comprehensive auto coverage includes:
Comprehensive auto insurance coverage
Comprehensive insurance coverage includes all direct and accidental losses not caused by collision or upset to your insured vehicle or to a vehicle damaged by you, including its equipment.
Generally, comprehensive auto coverage includes:
- Contact with a bird or animal
- Falling or flying objects
- Theft or larceny
- Fire
- Windstorm
- Hail, water or flood
- Malicious mischief or vandalism
- Riot or civil commotion
- Breakage of glass
- Explosion or earthquake
03-24-2011, 01:43 PM
#21
Senior Member
Join Date: Apr 2004
Location: Atlanta
Posts: 1,861
Insurance is meant to pay for things that you can't necessarily pay for out of pocket or managing your risk.
If you can afford to pay out of pocket or choose to chance it… that’s your call. No one here can tell you what to do.
Personally, I choose to manage my risk with full coverage and I’m also thinking about adding an additional umbrella policy. That’s because I have a wife and 1 yr old son that I have to think about. If it was just me and I was younger I’d probably say, “F it!”
I have an '03 and it's been paid off for years.
If you can afford to pay out of pocket or choose to chance it… that’s your call. No one here can tell you what to do.
Personally, I choose to manage my risk with full coverage and I’m also thinking about adding an additional umbrella policy. That’s because I have a wife and 1 yr old son that I have to think about. If it was just me and I was younger I’d probably say, “F it!”
I have an '03 and it's been paid off for years.
Last edited by UGAd13; 03-24-2011 at 01:45 PM.
03-24-2011, 01:48 PM
#22
Senior Member
Join Date: Jun 2009
Location: Dallas, TX
Posts: 489
I wouldn't keep the full coverage if your not prone to accidents. I just have liability on mine and for 6mo it's about $185. I saved a little by paying the 6mo in advance.
So for the year it will cost me $370 total. Use the money you save towards saving incase something happens. Car comes with anti-theft so unless you just live in crazy hood I wouldn't waste on aftermarket alarm. Just get a club!!
So for the year it will cost me $370 total. Use the money you save towards saving incase something happens. Car comes with anti-theft so unless you just live in crazy hood I wouldn't waste on aftermarket alarm. Just get a club!!
03-24-2011, 02:02 PM
#23
Senior Member
iTrader: (1)
Join Date: Mar 2001
Location: Manhattan Beach, Ca / Dallas, Tx
Posts: 3,751
Keeping full coverage on mine, definitely need uninsured and under-insured protection here and comprehensive covers me in case of hail which is very common here in the spring. My car is fully paid off and if I have an accident that is my fault, I don't want to come up with the money to fix or replace it.
My recent accident shows why it is important-the other guy's insurance was offering me quite a bit less for my car than my insurance did. Plus it made the process a lot quicker, able to get paid for the car faster through my insurance (and let them go after the other guy) than going through the insurance company of the guy who hit me.
My recent accident shows why it is important-the other guy's insurance was offering me quite a bit less for my car than my insurance did. Plus it made the process a lot quicker, able to get paid for the car faster through my insurance (and let them go after the other guy) than going through the insurance company of the guy who hit me.
03-24-2011, 02:18 PM
#24
I have a 02 I payed cash for. I put a system in it that quickly got stolen out of a high end gated community in knoxville tn which is not a crime filled area. I have liability only for now. I am adding the comprehensive soon. The only thing that will not be covered with liability and comp is going to be if you hit someone else. You can always look at increasing your deductibles as well as said before. Liability still comes with UM/ UIM on the majority of policies. When my car was broken into, They stuck a screw driver behind the glass and gave it a pressure break. No impact, nothing for the shock sensor to notice... NO ALARM WENT OFF> Made off with about $2000 in audio. I now have a Viper alarm system (just so happens it came with a remote start anyway which is really nice now that I have it) I got off a freind who owns an audio shop that I work at on the weekends so I got it at cost. You can find a remote start installed for about $300 roughly. At least you can around here. Bottom line is I have liability (will have comp at renewal of the policy) AND alarm. IMO its your best bet.
BTW: I am a licensed insurance agent:
BTW: I am a licensed insurance agent:
03-24-2011, 03:22 PM
#25
I'd stay with full coverage if you can afford it. Driving down here in So Fla is pretty hectic. Plus they're a people that go from riding animals, mopeds, and bicycles in their native country to driving motor vehicles in the US/FL, which is dangerous enough.(no offense to anyone out there).
03-24-2011, 07:50 PM
#27
Senior Member
Join Date: Sep 2009
Location: Ruston, LA
Posts: 317
Im 22 years young.. lol.. and my insurance is $124 per month for my 01 maxima and my gfs 04 mazda 6.. that is liability ONLY.. I dont have any tickets or anything on my record, and that is the lowest i could find.. and i have it with progressive btw..
03-24-2011, 07:52 PM
#28
Senior Member
Join Date: Sep 2009
Location: Ruston, LA
Posts: 317
I'd stay with full coverage if you can afford it. Driving down here in So Fla is pretty hectic. Plus they're a people that go from riding animals, mopeds, and bicycles in their native country to driving motor vehicles in the US/FL, which is dangerous enough.(no offense to anyone out there).
i am from one of those countries and i must admit u r right..
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