Ouch, trampoline vs. Civic sounds rough... but hey, at least it wasn't a cow or something (I've seen those videos, they're wild). Honestly though, I totally get the temptation to drop comprehensive coverage once your car hits a certain age. I've been there myself a couple times. Here's how I usually approach it now:
First, I look up the actual cash value of my car (KBB or Edmunds works fine). If it's still worth more than I'd be comfortable losing in one freak accident—like hail, trampolines, or random falling branches—I keep the coverage. If it's getting pretty low, I check what comprehensive actually costs me each year. Sometimes it's surprisingly cheap, and that peace of mind is worth skipping a few coffees each month.
But yeah, sometimes even the best logic goes out the window when Mother Nature decides to throw something weird your way. Glad you can laugh about it now though... that's the right attitude.
I had a similar debate with myself last year after a neighbor's tree branch came crashing down on my driveway—missed my car by inches. It was one of those moments where you pause and rethink your life choices, insurance included. My car's not exactly new, but it's our main family vehicle, and I realized I'd be pretty stuck if something totaled it tomorrow. So, I ended up keeping the comprehensive coverage, even though I grumbled about the extra cost at first.
Funny thing is, my brother-in-law dropped his comprehensive coverage a while back, figuring he'd save some cash since his car was older. Of course, a month later, a massive hailstorm hit his area. He got lucky—only minor dents—but it did make me wonder... does anyone actually set aside the money they save from dropping comprehensive coverage into an emergency fund? Or is that just wishful thinking?
"does anyone actually set aside the money they save from dropping comprehensive coverage into an emergency fund? Or is that just wishful thinking?"
Wishful thinking for most people, I'd say. I mean, in theory, it sounds great—drop coverage, pocket the savings, and build yourself a nice little cushion. But realistically, life happens, and that extra cash usually ends up going toward groceries, bills, or random stuff you didn't plan for. I tried something similar a few years back, thinking I'd be disciplined enough to stash away the difference. Spoiler alert: I wasn't.
Honestly, comprehensive isn't just about the car's age or value; it's about peace of mind. If your vehicle is your family's main ride, like mine is, then having that safety net can be worth the extra cost. Sure, it stings a bit every month when you pay the premium, but not nearly as much as being stuck without wheels because of some freak hailstorm or rogue tree branch. Just my two cents...
"realistically, life happens, and that extra cash usually ends up going toward groceries, bills, or random stuff you didn't plan for."
Exactly this. I tried the "I'll just save it myself" approach once—lasted maybe two months before the money vanished into everyday expenses. Comprehensive coverage is basically my sleep-better-at-night fee now, lol.
I get the peace-of-mind argument, but honestly it's not always worth it—especially if you're driving something older or rare. I keep thinking about my old '72 Mustang; comprehensive coverage on that thing was insane, and when a storm hit, the payout wasn't even enough to properly restore it. Sometimes you're better off just setting aside a small emergency stash...assuming you can resist dipping into it, of course.
