At what point do you change a full coverage vehicle to liability only?

[Sgt Beavis]

The only time you drop comprehensive and collision insurance is when you are SELF INSURED. That means you can go and buy a replacement car OUT OF POCKET without putting yourself under financial distress. IMO that starts when your car has depreciated below $5000 but that number is different for different people..

So, it would be incredibly stupid for you to drop that coverage.

[Phoenix]

The rates i've gotten is 175 a month for full coverage on mustang liability on z if I got full coverage on both its 250 a month.

You are getting bent over at that price. Are you young or do you have a bad driving record?

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[2011GT]

You run liability only when the loss of a vehicle will not hurt you financially in anyway. If losing 30k on a new mustang will not hurt then it's ok to run liability only. But for 30k not to hurt you, you would probably need to be worth north of 100 million.

[2011GT]

You are getting bent over at that price. Are you young or do you have a bad driving record?

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I'm 29 and have full coverage with 1k detuctibles no added bullshit like road side or rental car and I pay 65 a month through Geico.

[SMKR]

Changing car insurance companies probably gonna give geico a shot.

I have the 12 5.0 paid off so am wondering if I should put it as liability only or keep the full coverage. At what point do most people change to liability only?

I would only do that if I was self insured.

[CJ]

I say when the annual premium is more than half the value of the car, that's when you go liability only.

[TexasT]

When you can afford to replace it. No sense in buying fear if you don't worry about loosing it. My dailies are all liability. Why pay for something you won't get back, bank the difference and be self insured. If you do well you'll come out ahead.

[The King]

I keep liability, uninsured motorist, comprehensive on cars after they are paid off, but drop collision.

[Baron Von Crowder]

full coverage on my truck that is worth 15k + to replace, and liablity only on my miata that would be under 2k to replace.

[Cooter]

full coverage on my truck that is worth 15k + to replace, and liablity only on my miata that would be under 2k to replace.

if you've got 100hrs labor in that car, at $75/hr, it'll cost you a hell of a lot more than $2k to replace...

[Baron Von Crowder]

if you've got 100hrs labor in that car, at $75/hr, it'll cost you a hell of a lot more than $2k to replace...

um, I might have 4 in it?

[DON SVO]

um, I might have 4 in it?

He's thinking Lemons car.

[Cooter]

He's thinking Lemons car.

that I was

[Stng5Pnt8]

Your vehicle is too "new" and unless you don't to have protection on your car, I would at the very least make sure to carry uninsured/underinsured motorist coverage if you feel like the need for comp/collision isn't necessary on your car. Read below.

A recent report by the Insurance

Research Council (IRC), “Uninsured
Motorists, 2014 Edition” provides
readers with some insight into this
confusing topic but doesn’t provide any terribly reassuring results.

The report compares the ratio of “insurance claims made by individuals who were injured by uninsured drivers to claims made by those who were injured by insured drivers.” While this rate has gone down in the last decade it still sits at a 12.6%. This equates to approximately 30 million uninsured motorists or 1 in 8 drivers. The state with the highest ratio is Oklahoma which sits at a 26%.

[Baron Von Crowder]

He's thinking Lemons car.

that I was

well that makes more sense. It's not worth insuring, policies that cover on track incidents are hard to get and extra CHOO$$$ CHOOO$$$$. It's not streetable.