by Guest » Fri May 24, 2013 12:31 pm
I’ve insurance coverage through Progressive. I have a 2000 Honda Accord EX V6 complete leather interior, sunroof. It was the most expensive model made in that time. The machine runs like a giant and even holds a salvage title. I knew this very well while purchasing but since it was my first car I didn’t want to drain a lot and more than likely damage it. The vehicle also has 253600 miles on it. A lot of miles really. So considering all this I don’t know if it is worth a $88 per month insurance full coverage premium/ $530 every six months. The car may be worth $3500-$4000. But I also have a $500 deductible included to the policy. Where can I get the car’s value from? I don’t want to KBB since they don’t do salvages. Moreover, is it wise to have full coverage or lesser liability coverage only? My guts feeling say that it’s not worth the price. ANy thought or suggestion?
Posted: Sat May 25, 2013 03:40 am Post Subject:
You should never minimize LIABILITY coverage -- in fact, generally speaking, you should carry the most liability coverage available -- usually somewhere around $500.000 to $600,000 for personal auto insurance ($1,000,000 and up for commercial auto).
As for collision and comprehensive, that call is yours to make. You could first raise the deductible(s) to lower your premium, or you could drop either or both of those coverages (you usually cannot get collision without comprehensive, but you can get comprehensive without collision),
As for valuing your car, try nada.com
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