Insurance

I own a 1998 Camry LE with low milage. My insurance is up for renewal and continuing collsion and comprehensive will cost about $700 a year ( I live in New York City). Based on an internet search I estimate the value of the car at $5-6 K. Does it pay to keep the collision and comprehensive? What value does it have to drop to discontinue them?

Barry Howze

Reply to
Barry Howze
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Sounds like you're about due - my Camry was a year or 2 older when I dropped collision and picked up property/bodily coverage for uninsured motorists.

Collision covers damage to your car caused by collision with another vehicle/object. Collision costs a lot compared to uninsured motorist coverage (a lot, too, compared to comprehensive). Seems to me the only problem with dropping collision is if the other guy is uninsured.

Comprehensive covers stuff like fire, theft, vandalism, falling objects. I don't know whether you'd have a need for that.

Reply to
Hopkins

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