"Had a fender-bender once in Little Rock—by the time I paid the deductible, it barely saved me anything."
Yeah, I hear you on that. Had a similar situation myself a couple years back—small scrape in Fayetteville, and after paying my deductible, I was left wondering why I'd bothered with collision coverage at all. But here's the thing: comprehensive and collision aren't really about those minor dings and scrapes. They're more about protecting yourself from the big financial hits—like if your car gets totaled or stolen. If you're driving an older car that's already lost most of its value, dropping those coverages can actually make sense financially. On the other hand, if you've got a newer vehicle or you're still making payments, skipping them could leave you seriously upside-down if something major happens. It's all about weighing your car's value against what you're paying each month...sometimes it's worth it, sometimes not so much.
Yeah, totally get that. Had a minor bump in Conway last year—same story, deductible ate up most of it. Still, I keep collision coverage mainly for peace of mind...you never know when something bigger might happen. Better safe than sorry, I guess.
Totally see your point, but for me collision coverage just isn't worth it anymore:
- My premiums shot up big-time after a couple speeding tickets (oops).
- Did the math—between monthly costs and my deductible, I'd have to total my ride to break even. 😅
- So now I stash away some cash each month instead, kinda like DIY insurance.
- Fingers crossed nothing major happens, but at least I'm not throwing money down the drain every renewal.
I get where you're coming from, but doesn't it make you a bit nervous driving without collision? I had a similar thought last year after my premiums jumped (thanks to a fender-bender that wasn't even my fault...). Thought about dropping collision too, but then my neighbor backed into my parked car—totally random. Without coverage, repairs would've wiped out my savings stash. Guess it depends how much risk you're comfy with, but have you thought about scenarios like that?
I totally get the hesitation about dropping collision. A couple years back, I was tempted to do the same to save some cash before a big road trip. Glad I didn't, because halfway through Arkansas, a deer jumped out of nowhere and clipped my front bumper. Wasn't even a major hit, but repairs still cost way more than I expected. Guess you never really know what's around the corner...
