Do I keep full coverage on my 13 year old TA ?

**Street Fighter** · 12-12-2012, 06:37 PM

I have talked to my wife time and time again about dropping full coverage on my 13year old TA but she seems to think I should keep it.I don't think it is worth it to play the high cost of full coverage on a 13 year old car. The car is like new with only 42,456 miles on it, but I don't think The car is worth what we play for full coverage. I have older cars that I have only liabilty on. would that be the best way to go with this 13 year TA?

**35th-ANV-SS** · 12-12-2012, 06:43 PM

What do you consider high cost? I think I pay like $30/month for my Camaro SS which has 24,XXX miles on it for full-coverage. You may look into dropping the rates by listing is as a show car. You just need to keep the miles below your specific insurance company's criteria for listing it as such. Mine is under 7K miles a year driving.

**Spikito** · 12-12-2012, 07:21 PM

mines a DD and doesn't see 7k a year, lol.

Mine is about 90 a month for full, but thats because between me and my wife we had 18 points on our record. in 6 months 14 will fall off, and will drop me to about 50 a month....with Progressive

**Too Fast** · 12-13-2012, 02:44 AM

Originally Posted by Street Fighter

I have talked to my wife time and time again about dropping full coverage on my 13year old TA but she seems to think I should keep it.I don't think it is worth it to play the high cost of full coverage on a 13 year old car. The car is like new with only 42,456 miles on it, but I don't think The car is worth what we play for full coverage. I have older cars that I have only liabilty on. would that be the best way to go with this 13 year TA?

Your car is only worth $500? I don't understand that sentence. If you never drive it, you may be able to talk to the insurance people and write a different policy. My full coverage is about $375/year.

**devildogws6** · 12-13-2012, 03:38 AM

I hate you all!! Mine is $245 a f%-cking month lol but that what I get for being 26 and a crappy driving record haha

**initechpeter** · 12-13-2012, 04:28 AM

Yes, shop around on insurance. I have mine as a show/restoration on my insurance and its about $50/month, but the draw back is I can only put 7,500 miles a year on it. If you don't drive it year round then your fine. I live in Des Moines where we have snow and ice for about 4 to 5 times a month. So it works out. I haven't been able to drive mine for about 2 months, but thats due to a bad fuel pump, but that give me more miles during the summer time when it matters the most. I just drive my 2008 Avalanche during this time of the year.

**SteveC** · 12-13-2012, 04:34 AM

If you get into a collision accident, the insurance company will asses the damage. Lets say for argument sake, " The vehicle is " Structurally Totaled" ", the insurance company then goes to one of the many blue books, and based on the condition of the vehicle, and recent sales of your vehicle (if any, in a 150 mile radius), offers you a payout MINUS your collision deductible.

Now that being said the question becomes " How much money am I paying for "Collision Insurance, how much is my collision deductible, and how much is my vehicle worth (not to you, but in dollars to them?)". Over all how much do I pay a year for insurance?

In my case I pay $360 a year for full coverage insurance, and my driving is under 5k miles a year, and the vehicle is garaged, so the above equation (for me) does not apply.

SteveC

***SMWS6TA*** · 12-13-2012, 06:20 AM

I have full coverage on mine. God forbid something happens to it. I do it because there are way to many uninsured drivers in this state. Hell AL made it mandatory about 12-15 yrs ago, up till then only need it for vehicles that had a lien on them. What is odd was insurance was way cheaper back then.

Having a teen driver has up my rates......even on the TA and I'm the only driver.

**SteveC** · 12-13-2012, 07:39 AM

Originally Posted by SMWS6TA

I have full coverage on mine. God forbid something happens to it. I do it because there are way to many uninsured drivers in this state. Hell AL made it mandatory about 12-15 yrs ago, up till then only need it for vehicles that had a lien on them. What is odd was insurance was way cheaper back then.

Having a teen driver has up my rates......even on the TA and I'm the only driver.

All you have to have is "Uninsured Motor Vehicle" option in your full coverage, and your insurance company will pay you out.

The problem is, if you have a well taken care of vehicle, with low mileage and no dents or dings, you will never be able to replace it with the payout.

You should have your teen driver ON HIS OR HER OWN POLICY, not on yours, that way your rate should stay the same.

SteveC

***SMWS6TA*** · 12-13-2012, 07:44 AM

When he get's his own car that will happen until then he's a rider under mine.

**98TransAmWs-6** · 12-13-2012, 09:20 AM

I have USAA and I only pay $72 per month for all 3 of my cars and I am under 25. My TA has full coverage I think for 1k or less miles a year and my Daytona has full coverage as does my wife's minivan.

***SMWS6TA*** · 12-13-2012, 10:54 AM

USAA here too, but I pay 300 month (3 cars, 2 still have a yr left of payments, + teenager premium)

**35th-ANV-SS** · 12-13-2012, 01:07 PM

I pay $130/month for full coverage on 2 vehicles. That also includes a $30/month premium for life insurance

**Firebirdjones** · 12-13-2012, 01:14 PM

It seems states differ slightly on what minimum coverage is so rates can also vary.

I look at it a bit differently so don't be offended. I don't see these 4th gens as being all that collectable as of right now (and maybe never) but as they stand now, they are at an age where they really aren't worth much, book values are low, so insurance payouts are low. Technically you can't replace a totalled 4th gen with a new vehicle based on insurance payouts.

So the question remains, how much do you drive the car? Is this a weekend pleasure vehicle?

If it's pleasure, and seldom driven, then collector insurance would fit you better than a run of the mill policy. they are cheaper to have, you generally consult with the company on an agreed value, full coverage, and even an appraisal on the car with a walk around video and/or pics is a good idea to keep on file.

On the other hand, if you don't care, personally I don't like to pay full coverage on anything older than 10 years that isn't collectable, because you are throwing alot of money out the window every 6 months for a car that might pay out $6k if totalled, they won't give you what you might think it's worth to you.
Technically you only need liability to get paid for a totalled vehicle as long as the accident isn't your fault, and the other driver has insurance. Because of this I carry a minimum of liability and uninsured motorist, so at least I'm guaranteed payout on beaters that I drive.
In some cases I also like to carry Comprehensive (especially since moving to AZ) so it covers busted windshields. Seems to be an issue around here with rock covered roads and sand/dust (wish they'd run the street sweepers more often). It also covers running into a deer or other stray object in the road, so that's something to keep in mind (liability won't do squat for this

)

For what it's worth, I keep liability, uninsured, and comprehensive on my wifes daily driven 2000 SS camaro. I kept the same coverage on her older 97 Z28 when it was rearended and totaled, and got paid in full (more than I thought the car was even worth at the time). It's about the cheapest coverage you can get with these cookie cutter insurance companies and still get your stuff fixed or replaced. Frankly I view our 4th gens as toss away cars, if something happens they are cheap to buy right now so I'm not even remotely interested in fixing one even if it's repairable, I'd strip the drivetrain and find a classic to drop it in

.
Otherwise, it's collector car insurance for me on the cars I don't drive often.

**az gt eater** · 12-13-2012, 02:46 PM

You also should keep in mind if the person can feasibly replace the car given their current financial outlook. I know in my case, if my car was stolen, or I caused the accident, I wouldn't be able to get another vehicle without full coverage. I have USAA, and what an awesome insurance company to have. If I call them with a tow bill, they only have two questions for me. 1) How much was the bill. 2) What is your bank account number. I ruined my laptop a few months ago, I had money in my account two days after I called. They deposited it while I was on the phone with them.

**98TransAmWs-6** · 12-13-2012, 04:24 PM

Originally Posted by az gt eater

You also should keep in mind if the person can feasibly replace the car given their current financial outlook. I know in my case, if my car was stolen, or I caused the accident, I wouldn't be able to get another vehicle without full coverage. I have USAA, and what an awesome insurance company to have. If I call them with a tow bill, they only have two questions for me. 1) How much was the bill. 2) What is your bank account number. I ruined my laptop a few months ago, I had money in my account two days after I called. They deposited it while I was on the phone with them.

^Agreed, when determining whether to full coverage or nit, consider how much you drive it and your financial state like previously stated. USAA is pretty awesome although for me at least when I was in my teens they tended to rather pay out even if I wasn't at fault in an accident, or assumed fault even if the facts didn't point in that direction. That isn't the case anymore though. I haven't ever had to pay for a tow which is nice. The driver messed up my transmission by acting like it was a manual and pushing the lever without pressing the release. USAA paid to fix it.

**2002ssslp** · 12-13-2012, 07:14 PM

I pay 110.00 per month for my 02 SS and I have a perfect driving record and I am 52 years old. That is what you get in New Jersey.

**Too Fast** · 12-14-2012, 02:21 AM

^^^OMG Keith!

What kind of robbery is that???? Right up the arse on that, eh? Is all auto insurance that expensive, or do they penalize V8 cars?

**04yellowjacket** · 12-14-2012, 05:18 AM

well in oklahoma it is not that bad. I have 04 gto on liability, 08 surburban full coverage, 99 chevy silvarado full coverage, and a 2012 honda civic full coverage. and i pay 900 every six months for everything. oh yea a motor home also. i am 53 and had 1 speeding ticket in 1978, no wrecks, and have been driveing a kenworth pulling oversize for better part of 20 yrs. been driving trucks for 32 yrs. my local agent said i am in the gold rating as far as insurance goes. i use guide one. and my daughter and her soon to be husband are both on my insurance. he lives with us.

**2002ssslp** · 12-14-2012, 05:24 AM

Originally Posted by Too Fast

^^^OMG Keith!

What kind of robbery is that???? Right up the arse on that, eh? Is all auto insurance that expensive, or do they penalize V8 cars?

NJ has had the highest car insurance rates in the country for years. There are many factors involved with this. One is the fact that we have 9 million people in a super small state. We also have about 500,000 driver without insurance that the insured have to pay for in an accident. We are also called the "Sue me state" because every accident, including bumper taps ends up in court with people faking injuries. It goes on from there but let me tell you that I have four drivers in the house and all have good driving records. Son 23, Daughter 21, Wife 51 and I am 52. Six everyday vehicles cost me 10k per year. No kidding. I have a neighbor who's son had a DWI. He pays 6500.00 for full coverage for his 2010 Camaro SS.