Keep it or get rid of it

[Blue_Oval_Ford]

I was talking to my insurance agent today as my truck insurance is due at the end of the month. He said now that my truck is 8 years old, full coverage is a waste of my money, and should carry only liability insurance. My question is, should I keep full coverage or jut go with liability insurance. My trucks total value is $6250.00, and looks brand new.

 

[metstalker]

thats a hard call to make what is the difference between the two payments i still think that 6200 is a high number and persornally i would keep full coverage

 

[X~FACTOR]

I have a similar truck like yours. I stopped the full coverage right after I made the last payment 3 years ago. Weird at first. You start driving more cautiously. But don't worry it only last a week then you go back to driving like its not yours.

 

[thewishkah]

Well as of march 15 of this year(build date) my truck will be 11 years old and Is still coverd by FULL coverage. Alot of people might call that a waste but when someone bust out a window on my truck its good to know that its not coming out of my pocket, It is kind of since I pay the insurance but I would rather pay the payments and know its coverd then having to worry about paying for damages if It wasnt coverd. The truck is mostly rust free(front bumper has a spot on the corner) and there are no DENTS just tiny dings and only like 4 of them so to me its worth it. Living in NYC with some of the worst drivers I think its crazy not to have it. I do get a little break on my insurance though I have defensive driving, and cevo/apps class (for driving ambulance) but they deduct some from your insurance for having them.

 

[IAmTodd]

Had my '95 at full coverage. Although I did pay more, when I hit that deer, only $50 came out of my pocket to fix the $2500 worth of damage. Its honestly up to you. If you're not strapped for money and plan on keeping your truck for a while, as well as drive it a good bit, I say stick with the full coverage.

 

[97BlackX5.0]

it matters how much your payment is.... i was 20 at the time and having full coverage on a v8 explorer was almost 1000 bucks for six months..after the rates went up.... so i went with liability only for only 200 for six months...

 

[Blue_Oval_Ford]

Well, the truck was paid off four years ago so I do not owe anything on it, my deductible is $200, and the value of the truck is $6250. However, I do plan on keeping it for a few more years as it has been a good vehicle for me, and not having full coverage only saves me an extra $180 a year. It just worries me that someone will hit me and I will have to flip the bill out of my own pocket, which does not have much in it anyway. Thanks for all your replies though as it really help.

 

[IAmTodd]

If its only $180 I would just keep it. Its not worth dropping.

 

[Critical_Level2]

If its only $180 I would just keep it. Its not worth dropping.

I would agree. If the truck was only worth $1500, then I could see only having liability. If something serious were to happen, like it got totaled, would you rather have $6200 to use to buy something else with full coverage or nothing at all with only liability.

 

[XplorerKid]

my 25 year old Jeep has full coverage, yet my 86 ranger only has liability though, but thats cuase im not worried bout it getting damaged, it isnt worth what Full insurance would cost....

Ide keep the full...... i had full coverage on the Explorer, and when the hurricane came through and dropped a tree on it, they paid everything but the 250$ Deductable..

 

[goobenet]

I have full on my 94, mostly because i'm putting the girl through college and have piss credit so buying a new vehicle for me is pretty agonizing. (ie. cash up front) The diffrence for me was $200/6mo. Where the hell are you people who get 200 dollar deductables and less than 1000/6mo? I pay 590/6mo and my deductable is 500.

 

[Roadking]

If you want to keep the full coverage and save some money why don't you raise your deductable to $500 or $800. I just raised the deductable on my '97 from $250 to $750 and it saved me $125/yr.

 

[Blue_Oval_Ford]

After giving it some thought last night I decided to keep the full coverage on my truck. I will just have to put in a little overtime if my boss lets me, or get a second part-time job.

 

[A Wise Guy]

Where the hell are you people who get 200 dollar deductables and less than 1000/6mo? I pay 590/6mo and my deductable is 500.

I have a $500 deductable and only pay $585. Oops, that is a year not 6 months.