[Shotimes] Re: Stated Value Insurance

[Ron Porter]

It's a cost-to-benefit ratio. In my earlier examples, it pays to have it. If
you are paying $1,000/year for Comp & Collision on a $1,500 car, probably
not worth it.

Besides, what's wrong with "> $1,500/year"??  I know it depends where you
live, but for two of us on 3 cars (and one in storage), our total bill is
$3,055.60 this year (clean records for 6 years now). $165 for the Fiero GT
in storage, just under $1K for each of the other cars. Comp ($100 deduct.)
on my '95 MTX is $131.20/year, Broad Collision w/$500 deduct is
$440.40/year. Well worth it for a car with a replacement value of $5,395 per
KBB retail values.

Ron Porter

-----Original Message-----
From: shotimes-admin@autox.team.net
[mailto:shotimes-admin@autox.team.net]On Behalf Of
fwhittle@mindspring.com
Sent: Monday, April 14, 2003 7:12 PM
To: shotimes@autox.team.net
Subject: [Shotimes] Re: Stated Value Insurance


NEVER, you say?  What if you're paying >$1,500 per year?  And a good chunk
of that is Comp and Collision?  Yeah, you can probably guess what happened
to ME 3 1/2 years ago.  Thankfully, there was no accident and no one was
hurt.  I was simply driving at the wrong time of the morning (though I
shouldn't try to make excuses).  Just one more reason not to DUI.  I plan to
drop Comp and Collision as soon as my car is paid off (maybe very soon so I
can start saving some money).  Yeah, my insurance company LOVES me!!! (and
I've not had a claim for 10 years).

Frank Whittle
'95 ATX

From: "Ron Porter" <ronporter@prodigy.net>
To: <shotimes@autox.team.net>
Subject: RE: [Shotimes] Stated Value Insurance
Date: Mon, 14 Apr 2003 13:30:20 -0400

I would NEVER drop Comp on any car, and I carried Collision on the '89 for
all 10 years I had it. For a $500 deductible, the cost dropped into the
$200/year range, and the car was still worth around $2K if it got totaled.
Remember, the replacement value is the Retail book value. On an 8-10
year-old car, getting bumped at a traffic light will total it! Seemed like
a
good deal to me!

Ron Porter

-----Original Message-----
From: shotimes-admin@autox.team.net
[mailto:shotimes-admin@autox.team.net]On Behalf Of
Mike.Wojton@us.o-i.com
Sent: Monday, April 14, 2003 8:12 AM
To: shotimes@autox.team.net
Subject: Re: [Shotimes] Stated Value Insurance


I had thought about dropping comp and collision coverage when
I had the green car.  I figured it was paid for, what the heck.
Boy am I glad I didn't!  It was a hit and run in the middle of the
night.  I'd have been out of luck if I had.

You never know what's going to happen.


Mike Wojton
Toledo, Ohio

-'95 Green MTX  3/01-1/03
   ShoShop y-pipe

-'95 White MTX
   '96 Brake Upgrade

None of us is as dumb as all of us.
_______________________________________________
Shotimes mailing list
Shotimes@autox.team.net
http://www.team.net/mailman/listinfo/shotimes