Skipping comp just doesn’t add up unless your car’s basically worthless already.
I get where you’re coming from, but I’ve actually done the opposite with my 10-year-old Civic. Here’s how I looked at it: first, checked the car’s value—barely $2k. Then, added up the comp premiums over a few years. If I go claim-free, I’d pay more in premiums than the car’s worth. Plus, my area’s low risk for hail or theft. For me, dropping comp made sense, but yeah, if you’re in a stormy spot or park outside a lot, it’s a different story.
Honestly, I get the math on dropping comp for an old beater, but I’ve seen folks regret it. My neighbor’s Corolla was about as old as your Civic—he figured it wasn’t worth much, then a tree branch smashed his windshield during a freak storm. Out of pocket, it stung more than he expected. Sometimes it’s not just about the car’s value, but how much hassle you’re willing to deal with if something random happens. Guess it’s a gamble either way.
That’s a tough call. I always wonder, is there a certain age or value where folks feel comfortable dropping comp, or is it more about how much you drive and where you park? I’ve kept it on my old Outback just because I’m paranoid about hail or random stuff like that... anyone else find peace of mind worth the extra few bucks, or do you just roll the dice?
Honestly, I just can’t bring myself to drop comp, even on my older cars. Maybe it’s the fact that I’ve seen a few neighbors get their windshields cracked or cars dinged by random stuff—one guy even had a raccoon trash his convertible top. Is it overkill? Maybe, but peace of mind is worth a bit extra to me, especially when you consider how unpredictable weather (and wildlife) can be. Does anyone actually feel comfortable going without it if they park outside a lot?
peace of mind is worth a bit extra to me, especially when you consider how unpredictable weather (and wildlife) can be.
Honestly, I get where you're coming from. I park outside too, and after seeing a buddy’s car get wrecked by a falling branch, I just can’t risk it. Maybe it’s not “necessary,” but I’d rather not gamble with stuff like hail or random animal damage.
