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Originally Posted by benebob
subtract a dectuctable of $500 and your down to $3500 assuming you're paying $400 a year for the coverage to break even you would have to total your car every 9.5 years based on todays value. Of course you can always get 'em up a bit but not more than a couple $1000s at best. Now who's getting nothing.
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If I total my car tommorow I'd gladly take $3,500 versus the $0 I'd get without the insurance. Seeing as how I've only owned the car for 4 years, I'm ahead of the game as far as yearly payments are concerned (esp if you throw in the 2 windshields they replaced for free...each windshield was more than I pay to insure both my cars for a year). Sure, I payed more than $3,500 to get the car so obviously I'd take a loss, but not nearly as much of a loss I'd take if I got $0 back!
Dave