Is it worth paying extra for full car coverage in VA?

Is It Worth Paying Extra For Full Car Coverage In VA?

I wrestle with this every year when my renewal comes up. Here’s how I break it down: First, check what your car’s actually worth. If it’s a 10+ year old ride, chances are the payout after your deductible isn’t gonna be much if something happens. Like, if you’re driving a 2010 Corolla, insurance might give you $2k after a total loss... minus your deductible, which could be $500 or more. Not exactly a windfall.

But then, Richmond weather is no joke. I had a branch take out my side mirror last summer - wasn’t even a storm, just a random gust. If you park outside a lot, comprehensive might still make sense for peace of mind. Collision, though? Unless you’re prone to accidents or your car’s worth more than a couple grand, I’d probably skip it and just stash the savings for repairs.

It’s a bit of a gamble either way. I lean toward dropping extra coverage once the car’s value dips below what I’d pay in premiums over a few years. But hey, if you sleep better knowing you’re covered for anything, that’s worth something too.

I get where you’re coming from. I’ve got a ‘97 Miata that’s not worth much on paper, but it’s my pride and joy. I dropped collision a while back, but kept comprehensive for stuff like hail or random tree limbs - those repairs can add up fast. For me, it’s about protecting against the weird, unpredictable stuff, not fender benders. If your car’s just basic transportation, I’d probably do the same - ditch collision, keep comp if you park outside a lot.

Totally get that. I did the same with my old Corolla - dropped collision once it hit about 12 years old, but kept comp. Like you said,

“protecting against the weird, unpredictable stuff, not fender benders.”

For me, the peace of mind is worth the few extra bucks a month. Collision just didn’t make sense anymore with the car’s value.

Honestly, I see this question come up a lot, especially around here where storms can get wild and those tree branches aren’t messing around. The way you’re thinking about it - splitting comp and collision - makes sense for a lot of folks with older cars. Once your car’s value drops below a certain point, collision coverage can start to feel like you’re paying more than you’d ever get back if something happened. But comprehensive is usually pretty cheap, and it covers all that random stuff: hail, theft, falling limbs, even those squirrel attacks (which are more common than people think).

I’ve had clients who regretted dropping comp after a freak storm or vandalism, but rarely do people miss collision on a 10+ year-old ride unless they’re still making payments. It really comes down to how much risk you’re comfortable with and whether you could stomach paying out of pocket if something weird happens. For some, the peace of mind is worth it; for others, it’s just not.

But comprehensive is usually pretty cheap, and it covers all that random stuff: hail, theft, falling limbs, even those squirrel attacks (which are more common than people think).

I totally get this. Last year, a neighbor’s tree dropped a branch on our minivan during a storm - comprehensive saved us a ton. I do wonder sometimes if I’m just being paranoid, but with kids and all, I’d rather not gamble. Anyone else ever get surprised by what comp actually covers?

I do wonder sometimes if I’m just being paranoid, but with kids and all, I’d rather not gamble.

Honestly, I don’t think it’s paranoid at all, especially when you’ve got a family. Stuff just happens, and it’s always the stuff you never see coming. A couple years back, I had a raccoon somehow get into my garage and do a number on the wiring under my old Accord. Never would’ve guessed that was something insurance would cover, but comprehensive took care of it (minus the deductible). Saved me a headache and a few hundred bucks.

It’s wild what falls under comp - sometimes it feels like overkill, but then you get that one weird incident and you’re glad you have it. I’d rather pay a bit extra and sleep easier, especially with unpredictable weather and, yeah, those rogue squirrels. Doesn’t seem like wasted money to me, just peace of mind.

Not gonna lie, I see where you’re coming from with the peace of mind angle, and yeah, comprehensive can be a lifesaver in those oddball scenarios. But sometimes I wonder if it’s always worth the extra monthly hit, especially if your car isn’t super new or valuable. Like, if you’re driving an older ride that’s paid off, does it really make sense to keep paying for full coverage year after year? Those premiums add up fast.

I’ve had clients who were shelling out more in premiums and deductibles than what their car was even worth after a few years. In those cases, dropping down to just liability sometimes makes more sense, especially if you’ve got a decent emergency fund stashed away. Plus, not everyone’s got rogue raccoons running around their neighborhood (though, honestly, the stories I’ve heard... you never know).

On the flip side, if you’re in an area with crazy weather or high theft rates, then yeah, comp and collision might be the way to go. But I’d say it’s not always a black-and-white call - it really depends on your car’s value, your risk tolerance, and how much you’d stress if something happened. Sometimes “peace of mind” is just as much about not overpaying as it is about being covered for every possibility. Just my two cents.

Not sure I buy the “older car, just drop to liability” logic for everyone. Here’s my take:

- If you drive anything high-end - even if it’s a few years old - full coverage is a no-brainer. Repairs aren’t cheap, and parts can be a nightmare to source.
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“Those premiums add up fast.”

Title: Full Coverage Still Makes Sense for Some Older Cars

I get where you’re coming from, especially with high-end or specialty vehicles. Parts and repairs can be brutal on the wallet, and I’ve seen friends get burned by skipping full coverage on something that wasn’t exactly a “beater.” That said, I think there’s a middle ground depending on the car’s value and your risk tolerance.

For example, I drive a 10-year-old sedan that’s in great shape, but it’s not rare or expensive to fix. When I ran the numbers, the annual cost of full coverage versus what I’d actually get back if my car was totaled just didn’t add up. After factoring in the deductible and depreciation, I’d be getting a pretty small payout. In my case, putting that money aside in an emergency fund made more sense than paying extra every month.

Of course, if you’re parking outside all the time or live somewhere with crazy weather (hail is no joke), it’s a different story. And yeah, peace of mind is worth something too - some folks just sleep better knowing they’re covered for anything.

But I do think people should really look at their car’s current value and not just default to full coverage out of habit. Insurance companies are happy to take your money even when the math doesn’t work in your favor anymore. It’s not always black and white - sometimes liability plus a little savings cushion is the safer bet for an older but reliable ride.

That being said, if you’d lose sleep over a scratch or dent, or if your car’s resale value is still significant, then yeah...full coverage probably makes sense. Just don’t assume it’s always the best move for every “older” car out there.

I get where you’re coming from, but I’m still not totally sold on dropping full coverage just because a car’s older. Like, yeah, the math might not always work out if your ride isn’t worth much, but what about stuff like deer hits or random vandalism? That’s not really something you can predict or budget for easily.

“sometimes liability plus a little savings cushion is the safer bet for an older but reliable ride.”

I’ve tried that route before - kept liability and stashed away what I would’ve paid for comp/collision. Then my neighbor’s tree decided to fall on my car during a storm. The “savings cushion” didn’t even come close to covering it. Ended up paying out of pocket and regretting dropping the extra coverage.

I guess it depends on how much risk you’re comfortable with, but in VA with all the crazy weather we get, I kinda lean toward keeping at least comprehensive even on an older car. Maybe not collision if it’s not worth much, but still… one freak accident can wipe out years of savings.

Yeah, I hear you on that. Comprehensive can be a lifesaver, especially in VA where storms and deer seem to come out of nowhere. I’ve seen folks drop it thinking they’ll save, but then a random hailstorm or a run-in with a raccoon ends up costing way more than the premium would’ve. Collision’s a tougher call on older cars, but comp usually isn’t that pricey. Guess it’s all about what you’re willing to risk, but I’d probably keep comp for peace of mind, even if the car’s not worth a ton.

Collision’s a tougher call on older cars, but comp usually isn’t that pricey.

That’s true, comp is usually pretty reasonable. But do you think it makes sense to keep collision if your car’s only worth a couple grand? I always wonder where folks draw the line on that.

I dropped collision on my old Civic once it hit about 10 years and wasn’t worth much. Honestly, the premium just didn’t make sense compared to what I’d get if it got totaled. I’d rather put that money aside for repairs or a down payment on the next car. Comp’s cheap enough that I keep it for stuff like hail or theft, but collision? Not really worth it for a beater, in my opinion.

I get where you’re coming from, but I can’t say I’d risk it myself. I’ve had a couple fender benders that weren’t my fault, but the other driver bailed or didn’t have insurance. If I didn’t have collision, I’d have been totally screwed.

“the premium just didn’t make sense compared to what I’d get if it got totaled”

Honestly, I’ve wrestled with this myself. I get that the premium can seem like a waste if you never use it, but after seeing my neighbor pay out of pocket for a hit-and-run last year, I started thinking twice. Even if you’re a careful driver, stuff happens - sometimes when your car’s parked or someone else takes off. For me, the peace of mind is worth the extra cost, at least until my car’s value drops a lot more. If you’ve got savings to cover those random incidents, maybe it’s less of a worry, but I’m not quite there yet.

I totally get where you’re coming from. It’s wild how you can be the world’s most cautious driver and still end up with a busted taillight from someone who just ghosts. I’ve seen folks regret dropping full coverage right before something random happens - like a tree branch outta nowhere. But yeah, if your car’s getting older and you’ve got a decent emergency fund, sometimes it feels like you’re just paying for peace of mind. Guess it depends on how much you trust your luck... or your parking spot.

I hear you, but honestly, I dropped full coverage on my old Civic last year and haven’t missed it. Yeah, there’s risk, but between the deductible and what I was shelling out every month, it just didn’t add up anymore. Maybe if I had a newer car or lived somewhere sketchier, I’d reconsider... but for now, I’ll take my chances.

I dropped full coverage on my old Civic last year and haven’t missed it. Yeah, there’s risk, but between the deductible and what I was shelling out every month, it just didn’t add up anymore.

Honestly, I get where you’re coming from. With older cars, sometimes the math just doesn’t work in favor of full coverage. I did the same with my ‘09 Corolla a couple years back - once its value dipped low enough, paying for comprehensive and collision just felt like tossing money away. That said, I always tell folks to double-check what it’d actually cost to fix or replace their ride out-of-pocket. For me, peace of mind mattered less as the car got older, but everyone’s risk tolerance is different.

Yeah, I totally get that logic. I hung onto full coverage a bit longer than most probably would with my old Accord, just because I’m a worrier by nature. But honestly, once I saw what the payout would actually be if something happened, it just didn’t make sense anymore. Sometimes you’ve gotta trust your gut and the numbers.