It requires a premium vs value decision. I insure a 20 year old diesel pickup because their values remain high and my premium low. I have a newer Camry sedan that I don’t cover because any hit makes it a total loss and it’s not worth much and I would be lucky to get $2,500 for it. The one coverage that you should never drop is uninsured/under insured motorist.
@NativeNewYorkCityGir10 ай бұрын
THANKS for taking the time to share such valuable info.!
@heritageadvises10 ай бұрын
Glad it was helpful! Thanks for watching!
@JOHNSMITH-rq6nw2 ай бұрын
if your monthly insurance payments are more then 10% of the value of the car then its time to change to third party insurance
@HiddenGemindasunshine10 ай бұрын
I just paid off a 32k 2018 Kia Optima sedan, and the Bluebook value is on 3k 😢 disgusting. I am taking off the full coverage as soon as the title transfers.
@heritageadvises9 ай бұрын
Oooof, ya, that is a tough pill to swallow. I just had something similar happen to me. Good luck!
@feliciaglover16 ай бұрын
There you go honey, let these insurance companies have it, when they see people aren’t putting up with their slick tactics, then may be they will come around and be more forthcoming coming , and fair about handling business.
@merveilmeok241627 күн бұрын
Accidents happen everywhere, even in some people's driveway 😂 but if you live in the short list on this article: "The Cities Where You’re Most Likely To Get In A Car Accident" article written by Christy Bieber, J.D. (Forbes, October, 2023), then the factor of full coverage insurance must be a good idea.
@southe1018 ай бұрын
The problem is, if you get in an accident and it is not your fault, third-party insurance claims are a byotch. You will realize how sleazy the insurance companies truly are if you have to experience this.
@JiraiyaSanninPervySage8 ай бұрын
Yep they always drag ass and act like they don’t want to do anything for you.
@feliciaglover16 ай бұрын
I agree, it’s like throwing away money to the insurers.
@user-ih6vg4rr9r3 ай бұрын
What do you mean?
@robertwhite27923 ай бұрын
I have, my car is a 9 year old Chevy Spark with low mileage. I was T-boned after I came over railroad tracks and was crossing the street that ran parallel to the tracks. I told my insurance carrier about it. They told me that since I only had liability that they would not talk to me and I was on my own. The other persons carrier kept blaming me for the accident even though she had admitted to causing it in the police report. It took me a month and a half to get my car into the shop. Lesson learned, sue for as much as you can get. The cops in this town violate the intersection all the time, they don't know what a right of way is.
@timothythompson4036 Жыл бұрын
Also used car values have skyrocketed. Even if you have an old car it could still be worth $15000. That would be a big loss.
@heritageadvises Жыл бұрын
100%. Great point. Thanks for chiming in and sharing your advice.
@faisalalmannai57472 ай бұрын
Scenario A: A vehicle destroys a liability insured vehicle. Scenario B: A vehicle destroys a comprehensively insured vehicle. Will the compensation amount be the same in both scenarios?
@marktweet73959 ай бұрын
Banks are pros at this game! Multi car discount! Can’t have umbrella policy! Get ready!
@JOHNSMITH-rq6nw2 ай бұрын
BOILS DOWN TO RISK RISK HOW COMFORTABLE YOU ARE
@feliciaglover16 ай бұрын
I don’t see the point in keeping full coverage? You have people hit your car, and if you have to many claims out you cannot fix, or restore the car. They don’t pay anyway, if you have to many claims. It’s like throwing away money, to the insurance companies, when you could just save on your own.
@user-ih6vg4rr9r3 ай бұрын
I agree. Took me years later, but I agree.
@Support_Ad_Blocker4 ай бұрын
If you have a decent vehicle, then keep full coverage. If you bought a POS (which is most of them), then no.
@borg3862 ай бұрын
So if of your car is not very valuable. Should you have full coverage collision? And if not, should you at least have insurance to cover medical for you and the other party if an accident is your fault? My wife says we need to keep our full coverage collision insurance in case we our car hets ruined. Buty car is only worth around 3k, and my deductible for collision is $1,500. It seems I should only keep the medical insurance rather rhan the colision also, because they probably wouldn't even givee much if my car was totaled. Any advice?
@chacaloredo4513 ай бұрын
can i take it of full coverage if i am still paying a loan?
@america2revoltАй бұрын
Yeah, but you are only responsible for your vehicle if you are the cause of the accident.
@coolroy43006 күн бұрын
If you never make a claim and the value of the car is constantly going down why insurance go up every year ?. Am I paying for other peoples mistakes like a good democrat 😂