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Post by Peace Sign on Sept 1, 2022 20:27:12 GMT
I’m super impressed you were able to find a car at that price! The ten year old minivan I bought Logan (plus service plan) cost pretty much the same as DD’s brand new Honda HRV. Which is why she bought a new car instead of used. We always get full coverage insurance. About the rental car cost, when dd totaled her old car she was given a budget of $50 per day for rental. Anything over that would be out of pocket. there are a lot around here for that price, just in varying degrees of mileage and upkeep! we looked for several months and ended up buying from a private seller.
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Post by iamkristinl16 on Sept 1, 2022 20:40:16 GMT
We had a vehicle for our older two sons that we bought for $2000 from our neighbor. At the end of the school year he was hit in the school parking lot (even though the police officer and the insurance agent said that in parking lots it is always 50/50 liability) so we didn’t get that fixed. We only had liability on it. Last month dh was driving it and someone turned in front of him and the car was totaled. It was the other persons fault and their insurance gave us more than expected for the car. We paid about $5000 for the replacement and got full coverage because for us, that is a decent amount of money to come up with if something happens to it and repairs in the parking lot situations could be expensive if we wanted to fix them. But I guess it depends how easy it is for you to replace the car. At least that was my thinking.
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Post by calgaryscrapper on Sept 2, 2022 3:06:25 GMT
We have a paper in each car from the Insurance company with everything you need to ask the other driver if you are in an accident. We also take pictures of both cars. A teenager hit my car once and they told their insurance company that his Mom did it. She wasn’t in the car. I got everything but his blood type.
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Post by chaosisapony on Sept 2, 2022 3:09:59 GMT
I continue to have full coverage on my old car that's only worth about $4500 because if something were to happen I would need that $4500 towards a new vehicle. However I only pay about $700/year. I'm a cautious person, in your situation I'd probably evaluate whether or not your son could afford to replace the car entirely without insurance money if he were to get in an accident and go from there.
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sweetpeasmom
Pearl Clutcher
Posts: 2,592
Jun 27, 2014 14:04:01 GMT
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Post by sweetpeasmom on Sept 2, 2022 17:23:53 GMT
This is what I always tell my clients. If something were to happen and it was a total loss, can you afford to eat the $4700? Can you replace the vehicle easily? If not, then take the collision coverage.
Get them to quote with a $500 deductible too. Sometimes you'd be surprised that the premium isn't much different between $500 and $1000.
And I highly recommend the roadside service.
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Post by SallyPA on Sept 3, 2022 1:27:14 GMT
I have - unfortunately - more experience than I care to dealing with teens and auto insurance. Never, ever would I/will I ever again do anything except liability with roadside assistance.
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Post by Jamie on Sept 7, 2022 15:03:34 GMT
I still have full coverage on my 18 yr old Explorer. I pay like $20 a month. The full glass coverage alone is worth what I pay.
Honestly, for full coverage at just over $1100 a year, I would take it in case he was in an accident. Just to have that extra piece of mind. Might look into a lower deductible, but even then I would still take it.
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Post by tealpaperowl on Sept 7, 2022 17:55:38 GMT
Both of my sons got their own insurance in their name at 18. They had collision and the state requirements but not rental car coverage.
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