The year I drop collision insurance is the year I wreck it

PSA keep your collision insurance fellas. Think I must have the best luck ever... Drop home insurance and the AC and hot water heater go out the next month.

Think to myself “why are you spending close to $1k a year on insurance on the 2007 Tacoma regular cab 4cyl 4x4 when it’s only worth maybe $5k?” Decide to drop collision and literally 2 months later hit a cable guard rail taking out 6 of the poles on I-24.

Now gotta decide if it’s worth it to fix. Driver side lower control arm mounts are bent to shit with the LCA tab gussets also bent to shit. Driver side CV axle somehow fine but passenger side needs replaced. Whole driver side body panels are scratched/dented to shit. Core support bent to shit
Yay. At least I’m alive

 

JD Fabrication can help you with the LCA mounts. Man your homeowner insurance covered AC and hot water heater. What kind of Home owners insurance does that. Mine only covered the big stuff fire, theft, storm damages, liability if someone got hurt on my property.

 

You dropped your insurance??!?

Didn't anybody tell you it's still 2020?

 

To be fair I never carry more than liability on a vehicle unless it was financed. If it get thrashed I'll come out of pocket for repairs or just get something new. I do complex probability what if maths to figure that the reality of paying that much extra in full coverage I can save and do other things with that will make me money vs gambling with insurance that I'll need to pay a deductible to use it. Plus some companies you make a claim on comprehensive or collision and rates get jacked up not all.

 

Keeping full coverage is a waste of money on many vehicles. I still keep full coverage on my 07 Tacoma because it is worth about $8000-$9000. That is more money than I'm willing to risk. But we have an 09 Honda that is only worth $2000-$2500. I saved about $300/year by dropping collision. That was 4 years ago. If I'd kept full coverage I'd have paid my insurance company about 1/2 what it is worth in extra premiums. If I lose $2000 at this point that is a risk I'm willing to take.

On a $5000 vehicle it is a close call that could go either way. You were just unlucky. Had you gone a few years without a crash you'd have been money ahead.

 

Full coverage is like $20 more a month,why would anybody drop it as expensive as these trucks are today.

 

Not in my case. I was spending almost $1k a year and when I dropped collision I was spending about $200 a year

 

Nice. Appreciate the JD Fab recommendation. And sorry - meant home warranty not home insurance. Still have home insurance lol

 

Oh yeah my 1850s era farm house would of never qualified for a home warranty .

 

That’s badass though wish I was in an old farm house with some land