OT: Collision insurance?

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Getting ready to return to the US after a long hiatus, and working out insurance issues.
Last time I was in the US, it was common to drop collision off the
insurance policy on older vehicles. Was wondering if that's still the case, with vehicles getting more expensive to maintain?
My Dakota's a 2001...
Thanks for any advice.
jmc
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wrote:

We carry "full" insurance until our trucks are paid off, then go to "liability only".. Works for us..
mac
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Suddenly, without warning, mac davis exclaimed (3/8/2008 10:50 AM):

Mine was paid off when I bought it :)
jmc
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On Sat, 08 Mar 2008 20:12:06 +0930, jmc

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On Sat, 08 Mar 2008 07:53:04 +0930, jmc

Though the actual values and rules vary by state, I'd say it is really how much do you want to self-insure? If the worse happens, you slide on ice, total the truck, can and are you willing to replace it?
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wrote:

I think that you hit the nail on the head here but replace it with what? That insurance payoff isn't going to amount to much due to the age of the vehicle and they are going to jack his payments thru the roof on the next one if he reports it and attempts to collect.
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Suddenly, without warning, TBone exclaimed (3/9/2008 12:16 AM):

Valid point. The truck is in excellent condition, but it *will* be 8 years old by then. Since the kbb value is less than 8k, it really doesn't seem worth it.
Thanks.
jmc
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Suddenly, without warning, jmc exclaimed (3/9/2008 8:35 AM):

Since the point has come up in other parts of this thread, let me clarify. I'm not talking about not being insured. Of course, I'll insure the truck. I'm only considering dropping collision, not the rest of it.
jmc
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wrote:

You might want to consider raising the deductable. That will save you some bucks and still give you some protection in the event of a total lose. I have had a 1K deductable for years.
Roy

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I've a three year old 2500, and insurance is a must. The fact it is paid for doesn't even fit into the equation, either! <bg>
There is a 'magic' point when collision insurance is not worth the ocst, but one must be careful to not make a blanket decision.
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wrote:

I agree completely. I kept collision on my Ram until it was six or seven years old and then dropped it and I paid cash for mine as well. At three years old, it is still worth enough to keep it on but an 8 year old Dakota just might not have enough book value to make it worth it.
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I believe you have to carry insurance to protect those who you may injury in a accident. Damage coverage to your truck is up to you unless there is a lein on it. I sorta figure if the car/truck is a throw away way bother.
Roy
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Roy is correct. All you are legally obligated to have is personal liability coverage in a specified minimum amount (as determined by your state of residence). However, in order to protect your own personal assets in event of an accident where you are at fault, you are usually well-advised to carry far more than just "state minimum". Seems everyone these days is lawsuit happy. We carry $500,000 liability coverage just for that reason.
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In New Hampshire we are not required to have insurance at all. Unless you've been convicted of DWI or some other major mv offense. If you've been in an accident the state might make you either get insurance or show that you are capable financially to take care of your liabilities. And of course a mile down the road from my town we have the commonwealth of Mass. who hold the nationwide record of being the worst drivers.
writes:

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No friggin insurance!! That's why us horrible drivers in MA have to get uninsured motorist coverage to protect ourselves from you nondriveing pricks in your shit box's!<G>
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That's all we dare drive because of that state to the south... I'm not saying MA drivers are bad, but one doesn't have to look at the plate to tell where they are from!
Roy, if you really are in MA, come up for the next NEHOG run...
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I'm in FL now. Still own a house in MA. Spent 50 years living in MA.
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what's snow???
mac
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wrote:

Another year here and I'll probably forget what it is too.
Roy

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Hell, I've only seen it 3 or 4 times in my life.. and that was about 4 times too many..
mac
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