I owned a 2005 failry new car, how much on collision and comprehensive should I get?

Comments

1. J MONEY! says:

   February 2, 2010 at 5:45 am

   500 500
2. MSAD says:

   February 2, 2010 at 6:00 am

   With collision and comprehensive coverage – you don’t purchase an amount to insure your car. You select the amount of your deductible. This can usually be 250, 500 or 1000.

   The deductible means – that if damage happens to your vehicle, you will pay the first 500 (or what ever deductible you select) for damage to your vehicle if the insurance company will pay the rest after that.

   The higher the deductible – the lower the premium.

   Set the deductible based on how much money you can get your hands on. If you walked outside right now and a tree had fallen on your car and crushed it – can you get 250? 500? 1000?

   You don’t get a warning with a claim. You don’t have time to save up b/c you know your car will get hit next month. And you can’t make payments on your deductible.

   Most people tend to carry a 500 deductible. But it really depends on who much money you can get your hands on.