Yeah, I hear you on the random stuff—last month a bird somehow managed to wedge a pinecone under my wiper blade and scratch the glass. Never would’ve guessed that was possible. I’m with you on weighing the car’s value vs. the premium, though sometimes I wonder if I’m overthinking it. My car’s not new, but repairs still add up fast. I park outside all year, so hail and tree sap are always lurking. I keep telling myself I’ll drop the coverage when the car hits a certain age, but then something weird happens and I chicken out.
I get the anxiety—every time I think about dropping coverage, I remember my neighbor’s car got totaled by a falling branch during a windstorm. Statistically, it probably makes sense to drop it at some point, but my brain keeps running “what if” scenarios. Maybe I’m just risk-averse, but those random events really mess with my logic.
When Does It Make Sense to Drop the “All-In” Coverage?
That “what if” loop is real. I’ve been there—sat at my kitchen table with a calculator, staring at my old Subaru and thinking, “Am I really paying this much for a car worth less than my mountain bike?” But then, just when I’m ready to pull the plug on comprehensive, I’ll see something wild on the road. Last summer, I watched a raccoon try to play chicken with traffic and lose. The guy in front of me swerved, hit a mailbox, and—yep—his insurance didn’t cover it because he’d just dropped comp. That stuck with me.
I get wanting to save money, though. My general rule has been: if the car’s value is down to where the extra coverage is basically just protecting pocket change after your deductible, it’s probably time to let it go. But it’s not always that simple. Some years back, I had an ‘02 Civic that was basically held together by duct tape and hope, but I kept full coverage because I was parking under these sketchy trees all the time (and yeah, one finally did drop a branch... missed by inches).
Still, there’s always that nagging feeling—like as soon as you drop coverage, fate’s gonna test you. Maybe it’s superstition or maybe it’s just that we hear about those freak accidents more than the boring years where nothing happens.
I guess for me it comes down to how much risk you can stomach versus how much you’d actually get back if something happened. If losing the car would wreck your budget or leave you stranded, maybe hang onto it a bit longer. If not? Maybe it’s time to roll the dice and pocket the savings for your next road trip—or emergency raccoon fund...
“if the car’s value is down to where the extra coverage is basically just protecting pocket change after your deductible, it’s probably time to let it go.”
Couldn’t agree more with this. I’ve dropped comp/collision on older cars once the math just didn’t make sense anymore. That “what if” feeling never fully goes away, but honestly, paying $300 a year to maybe get $400 if something happens? Not worth it for me. I do keep liability high, though—never want to gamble with that. Your “sketchy trees” story hits home... sometimes you just gotta trust your gut about your own situation.
Honestly, I think people hang onto comp/collision way too long just out of habit or fear. If your car’s barely worth more than your deductible, what’s the point? I’d rather stash that money for repairs or the next car. But here’s a twist—what about folks who park on the street in cities? Does that change the equation for you, or is it still not worth it? I’ve always wondered if location should matter more than age or value.
