Dishwasher Posted February 2, 2018 Share Posted February 2, 2018 I would not do that unless it was a car that you did not care if got $0 for. I had a car that I dropped full coverage on, thinking I would just be responsible if the accident was my fault. It was such a hassle to deal with the other insurance company. The cliff notes of the accident were - it was clear cut it was the other drivers fault, the other insurance company ruled it 50-50, they gave me a ridiculous evaluation for my car (The 1st check was for $350!) from some book I had never heard of. I had to appeal to the MA insurance board to get a fair book $3k value and bring them to small claims court to get the 50-50 over ruled. Never again This. Go liability only coverage if your vehicle is worth less than your deductible. Brought to you by Pfizer Link to comment Share on other sites More sharing options...
3.0r413 Posted February 3, 2018 Share Posted February 3, 2018 I'm not interested in such a policy. In fact I am thinking of dropping full coverage on my OBXT as its value doesn't appear to be worth the additional premium. KBB puts the private party value at $4K - $5K. I might be able to get a little more as they're popular here in CO. I was able to get paid out 7.5k for my 2005 OBXT auto w/ 125k. Other drivers insurance company went with the average price they were listed for at dealerships in the area. Not sure if i just got lucky or what. Link to comment Share on other sites More sharing options...
sunny5280 Posted February 3, 2018 Share Posted February 3, 2018 This. Go liability only coverage if your vehicle is worth less than your deductible. It all depends on what the savings are from dropping full coverage. If my deductible is $500 and I'm spending $100/month for full coverage than it might make sense to drop full coverage. In two years one would have basically saved the cost of the vehicle. Sadly I've discovered these cars aren't worth what I thought they were. Thankfully full coverage doesn't cost me nearly $100/month so it's likely I'll keep it. Link to comment Share on other sites More sharing options...
sunny5280 Posted February 3, 2018 Share Posted February 3, 2018 I was able to get paid out 7.5k for my 2005 OBXT auto w/ 125k. Other drivers insurance company went with the average price they were listed for at dealerships in the area. Not sure if i just got lucky or what. That was more in line with what I thought they'd be worth. However, after researching it some, I discovered they're not worth that much...at least not on paper. Link to comment Share on other sites More sharing options...
hadvw Posted February 4, 2018 Share Posted February 4, 2018 Dude, that's gonna be a tough call. I got rear-ended (chain reaction, not my fault) 3 years ago and they only repaired the rear end, no real front end damage, and it was >$5k on my '05 Wagon. That front looks pretty messed up. Plus, keep in mind that if there was structural damage, you're putting yourself at more risk in the next collision. Link to comment Share on other sites More sharing options...
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