Kevin G. wrote:
> Hello,
>
> I am asking for advice as to whether I should remove collision
> coverage on my 1998 Civic DX coupe that has 156,000 miles on it. I
> bought the car brand new 10 years ago.
>
> If I remove the coverage, it would save me approximately $20/month.
> Kelley Blue Book states that the trade-in value of the car would be
> anywhere from $2,000 - $3,000, depending on the car's condition. I
> would say that my Civic is in-between fair to good condition. It
> still runs good and I have kept up with it maintenance-wise.
>
> Thanks for your advice,
> Kevin
>
collision coverage means that if you have any re****ted collision, the
insurance company owns your car, and they write it off. you get a check
for "fair value" and no car. and "fair value" isn't much.
if you "insure" the car for collision yourself, /you/ get to decide
whether the car gets written off. if it's a minor event, you can afford
to pay the repairs and keep the car running - you wouldn't have that
option with collision coverage. if it's major, you go buy a new car and
sell the crashed one for parts.
oh, and if you /do/ pay for crash repairs yourself, it's usually a lot
cheaper than an insurance repair. you know, cash, beer, barter, etc.
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