Originally posted by Huli
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Originally posted by DriverOne
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Over 8 yrs ago I talked with my insurance company and they did a Kelley Blue Book check on my bare-bones, 88L with probably 160,000 miles on it then and they said the KBB value of it was a whopping $260. Because of that they recommended I get rid of all excess coverage beyond what the state law required (in other words, eliminate collision, comprehensive, etc) because they said they wouldn't pay anything over the $260 so why carry the coverage? I thought they made a good point (since they said they would NOT pay anything over the $260) so I dropped the excess coverage. However....
Now that I'm in the process of fixing it up (including a $1400 paint job later this week) I've wondered about insurance. 'Self-insuring' it, ie, it gets damaged and I pay for all of it, would absolutely suck. :nightmare:
BTW, my insurance company is USAA.
Thoughts?
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