Car insurance gone up..time to drop some coverages??

simoncooper93 · February 2011

So my car insurance rates have gone up, and while going through my policy I find that I haven't made any significant changes to it in the last 5 years except move to PA. My '01 Toyota Highlander is almost 10 years old. Time to drop some coverages. Planning to do away with collision and comprehensive. The Blue book value is about 6-6.5 grand, so its not completely a beater. Whats your opinion?

brokend · February 2011

I dropped collision and comprehensive on my husband's one car because there was no loan on it. Have you shopped around with different car insurance companies to see if rates are any lower?

t2mofok · February 2011

Ours went up quite a bit and they told us it was because of the claims this year especially with hail damage. We shopped around and got better coverage and it was $60 less every six months. Good luck

jjenkins · February 2011

My husband just got a new car literally 2 weeks ago today and we were shocked at the rate his insurance company gave him for the new car. We knew it would go up some but it was crazy. He went from an '04 suzuki forenza to a '11 honda pilot which is a MUCH safer vehicle with alot more safety features and they wanted to charge him almost double. Needless to say he's shopping around.

simoncooper93 · February 2011

It seems I might need to shop around too. What a pain Sad

wernerwhiteman · February 2011

If you can afford to pay for any damages to your car out of pocket you can think of dropping both coverages because any claim you make on a 10 year old car will take into account depreciation and wear and tear; so after using up your deductible, you might not really have a significant amount in hand. Also, PA car insurance rates usually go up after you make a claim?.IMO just save the money into an emergency fund and drop the coverages.

Car insurance gone up..time to drop some coverages??

Re: Car insurance gone up..time to drop some coverages??

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