Old car up for renewal

by Guest » Wed Nov 21, 2012 01:55 pm
Guest

I already have minor damages on my car. I don't use it much since I have got another one as well. However, the policy for it is up for renewal. I have collision cover for the old car. Shall I include comprehensive as well? Can they deny coverage if I decide to change insurer?

Total Comments: 2

Posted: Fri Nov 23, 2012 12:43 pm Post Subject:

Even I have a damaged car,last moment I met with an accident and still the car is with dents.even I wanted to know all these things. [link removed per TOU]

Posted: Sat Nov 24, 2012 12:02 am Post Subject:

I have collision cover for the old car. Shall I include comprehensive as well?


Generally speaking, this is likely a complete waste of your premium dollars. All your vehicle is worth is Actual Cash Value which is Replacement Cost minus Depreciation. IF your car is worth less than $1500 - $2000, you probably should drop the collision coverage.

Can they deny coverage if I decide to change insurer?


Insurance companies love to take your money in exchange for virtually no risk of loss. You will make them very profitable. They would decline to insure you based on your driving record, not the condition of your car. If you want collision and comprehensive, you may have to repair the vehicle first.

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