General Question

mirifique's avatar

Should I get collision and/or comp coverage on my 98' Nissan?

Asked by mirifique (1537points) October 11th, 2009

A lot of people have been telling me not to get these coverages, because the value of the car is simply too low (~$2500). However, I’m worried I will have an accident that will set me back $1500. Collision insurance with a $500 deductible will raise my premium about $230/year. To me, this seems worth it, even over a 3 year period (considering damage of $1500). Yes, I do have some savings to pay for major repairs; but being fairly new to city driving the risk of getting into an accident might be higher than I originally anticipated. Having taken the car to the shop a bit already, I am aware that any repairs, particularly body damage is extremely expensive. However maybe the only damage I am truly liable to cause would be body damage, perhaps caused while parking, which I could live with. Any thoughts?

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3 Answers

jackm's avatar


if you think you will get in a wreck in the next three years and you think you will have to fix it and the price is greater than 1190 then the insurance is worth it.

galileogirl's avatar

You wouldn’t get high blue book, probably less than $1000 on a 14 yo car (2012) and a car of that age would be totaled anyway, Even more likely there will be an expensive mechanical breakdown. Take $500 and open a car account. Add $230/year as long as the car is running. If you have an accident or the car dies, you’ll have a downpayment on a better one.

sarahclif's avatar

amica is super cheap insurance (beat geico by 6 months for my husband’s old car) and amazing customer service. price it with them and it’ll probably be worth it.

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