That’s a good point about the deductible versus car value—on my last car, the numbers were so close it almost didn’t make sense to keep full coverage. I’ve heard mixed things about Liberty Mutual and older vehicles. A coworker had hail damage on a 12-year-old Camry, and the payout barely covered half the repairs after depreciation and deductible. It’s a tough call... sometimes just rolling the dice with liability feels less stressful, especially if you’re not driving anything too fancy.
I’ve been down this road before—literally and figuratively. Had a ‘09 Accord that was worth about as much as my last camping trip’s gas bill. I kept full coverage for a while, thinking I was being “responsible,” but when I finally did the math, it just didn’t add up. The deductible alone was almost half the car’s value, and after hearing stories like your coworker’s, I started to wonder who full coverage was really protecting.
Honestly, once I switched to liability only, I felt a weird sense of relief. Less paperwork, less arguing with adjusters over what counts as “wear and tear.” Sure, if a meteor lands on my hood, I’m out of luck... but on an older ride, it feels like less of a gamble than paying premiums that could buy me another set of tires. Maybe if you’re driving something you’d cry over losing, it’s different—but for my trusty road trip beater? Liability’s been just fine.
That feeling of relief you mentioned after dropping full coverage is something I can relate to. There’s just a point where the numbers don’t justify the cost anymore, especially on an older car. Like you said,
—that’s the moment the math really starts making sense.“the deductible alone was almost half the car’s value”
I’ve run into the same dilemma with a ‘10 Corolla that’s seen better days. I kept full coverage for too long, mostly out of habit or maybe just fear of the “what ifs.” But when I realized that the annual premium could almost buy me another beater if something happened, it seemed kind of pointless.
Of course, there’s always that nagging thought of some freak accident, but for most of us driving older vehicles, it’s usually not worth the extra expense or hassle. Liability covers the big stuff you can’t pay out of pocket, and for a car you wouldn’t lose sleep over, that’s often enough. It’s good to see others weighing the real risks and not just defaulting to what insurers recommend.
Yeah, I totally get what you mean about the “what ifs.” That nagging feeling is hard to shake, especially when you’ve always had full coverage. But like you said,
—that’s the part that finally got me too. I had a 2008 Civic and realized after a fender bender that my deductible plus premium was more than the car’s blue book value. At some point, it just feels like you’re paying for peace of mind that isn’t even all that practical. Do you ever wonder if insurance companies count on us sticking with old habits?“the annual premium could almost buy me another beater”
I get where you’re coming from, but I still lean toward keeping full coverage, even on an older car. One bad accident and you’re out way more than just the blue book value—medical bills, lawsuits, all that stuff. Sometimes peace of mind is worth a little extra cash, even if it feels like overkill.