- Joined
- Jun 20, 2021
- Threads
- 12
- Messages
- 1,141
- Reaction score
- 1,662
- Location
- United States (TN)
- Vehicle(s)
- 22 Maverick XLT Iconic Silver
- Engine
- 2.5L Hybrid
Good points, it is risk tolerance and maintaining strict discipline. While I typically maintain comprehensive as it is relativity cheap, and even collision when the vehicle's value constitutes a catastrophic loss, there is a time when it doesn't make sense. As for accidents, knock on wood, but so far, a pristine record for 40 years of driving.No, I'm good.
I have the funds, that's not the real question. It's the accident that bothers me. There is minimal metal and chrome on vehicles today that can be straightened. It's ALL plastics and electronics. When involved in an accident there is typically a lot of damage.
Case in point, we had a Lexus and our grandson was learning to drive. He turned left into the driveway at his house after returning from his final driving lesson. It was a typical 2 lane residential street. He made the turn and instead of hitting the brake he hit the gas. Drove the Lexus into the ass end of a pick-up. No damage to the trucks rear bumper. The insurance company totaled the Lexus. The amount they gave us was peanuts on the dollar to replace the vehicle. So in this case the insurance did me no good as for repairs but they did give is a third of the price of a car. Had there not been any collision insurance, we wouldn't have received a dime. Not really sure what it would take to repair the car if it was even repairable. Without the insurance it would have been a hard pill or should I say bill to swallow.
Not sure if my savings would have covered a repair or paid for a new car. That was why the question. I have the discipline, that was never the question. It's the accident that bothers me. They don't occur on purpose or are they ever planned, thus they are accidents. I pay $41.50 per month for both Comprehensive and Collision w/$1,000 deductible. Had I not had the insurance and socked the $41.50 away, it would take awhile to accumulate enough to replace or repair a totaled vehicle. That is all I'm saying.
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