Hello Guys,

I just realized that I am paying about the same amount of money I would pay if I had brand new, 2004 Maxima. My car is 1997 GXE with 146k miles now, but the funny thing was the insurance premium is the same if I bought a brand new Maxima off the lot.

I talked with the insurance company (State Farm) and they said that if they need to total my car, they would give me a check for a comparable Maxima with the same year and mileage. Honestly, I don't think a smooth-revving, tight-handling, 1997 Maxima with 146k will fetch me a lot of $$$ (probably close to, what...$6k?).

So, I wonder how you guys with high-mileage cars setup your insurance coverage, care for sharing some info?

There are two bags in the Maxima, and if I hit anything that will blow those bags, that's it, the car is totaled.

 

id say your car gives you about 5k with those miles you have

 

Agreed. The funny thing was, I did lead a friend of mine to buy a 88k, 97 GLE fully loaded here in Miwaukee (private seller) for $5500.

It was a terrific deal....and if we use that as a benchmark, my car is worth...like...$3500?

 

shop w/ another insurance co.

 

what kind of deductables do you have?

 

If you have full coverage then you can lower your payments by going with liability coverage and add anything else you want.

 

that is weird


I pay the same on a 2000 max with over 110k miles as i paid on a 97 SE with 140k +

i actually had them transfer the policy over from the 97 when i sold it to the 2000.
I also pay maybe $50 more on a 98 GXE with 75k miles under the same policy

i agree
shop around with other insurance

I am with Geico they treat me good

 

My 2002 SE has the same premium as my 1995 GXE with high miles. They don;t consider miles though. Why not drop collision coverage. or comp and collision. 2 years of no premiums will cause you to break even if you had a loss after that...

 

With Allstate there is no significant difference between my 92 SE my 03 SE and my 96 Yukon.

The real decision is up to you as to weather or not you want to increase your deductables to say $500 or even $1000 or drop your collision & comprehensive altogether and hope that you can run 3 or 4 years without an accident (while actually banking the priemium reduction every 6 months) to make up the difference.

 

Mr. Peabody,

I guess I am just bumped with the way insurance company insure high mileage cars. You are right on the money when you say that the only way to save is to drop my collision and/or comprehensive, expect cheaper payments (since you have less coverage) and go on with life.

I was not happy with the way they work....just like you put in your example, same premium for your 92Se and your 03.....even though one is significantly more expensive to replace. That's not fair, in my opinion, but apparently that's the way they work.

I have extremely lucky with my car in the past few years, but I decided not to go the "cheaper" way and drop my coverage. I was looking for going cheaper without affecting my coverage, but that's simply undoable.