Is getting full coverage insurance worth it? Insurance companies are for profit corporations and they spend a lot of resources determining how much to charge you to be sure they won't be losing money, so statistically you're very likely to pay them more than they will ever pay you.

>>28522010 (OP)
>full coverage
Define full coverage. This shit varies state to state as to what your minimums are.

Also unlike other forms of insurance (Dental, Eye, Health) the need to use it is almost entirely out of your hands. Just because you know how to drive doesn't mean Shaneeqa isn't going to T-bone you out of the blue while running a red light at 80mph. Same goes for uninsured issues where Laqueefa decides to key your car or Jamal backs into it while you're in a store and then leaves the scene before you see it.

>>28522010 (OP)
Yes, but depends.
If you have a shitbox that's worth less than $10k, I would still get collision on it.
If you crash and its your fault, you'll get that $10k for it.
Also, if you ever rent a car, your insurance will cover it in case you fuck something up.
Rental insurance is trash and will double your costs.

>>28522010 (OP)
The principle reason to carry collision is that so if you get hit by a dipshit and they aren’t insured or have a terrible insurance company, you make a claim against your insurance and then your insurance recovers against The General or whomever. If you have a clean record and a good credit score, it won’t be that expensive.

If you drive every day, have a commute longer than 30 minutes each way or have to deal with rush hour traffic, and aren't financially comfortable with getting a new car the moment your current one breaks down then sure. Otherwise it's a waste of money

>>28522051
>>28522055
But all of those risks are already factored into the price they give you, right? If everyone was out there getting t-boned faster than they can pay up, insurance companies would be going bankrupt left and right.

>>28522407
Do you want to spend $80 a month and be fine, or do you want to drive every day knowing you're fucked if a nog T-bones you? That's basically what it boils down to.

>>28522010 (OP)
Is the car new? Is it owned by the bank? Get full coverage, it's mandatory here.

>>28522407
>driving without insurance or bare minimums
>end up in an accident where you're found at fault somehow
>could be potentially looking at tens of thousands of dollars in damage between your car and the other people involved
>god forbid you also caused any property damage during the crash which is another huge liability
>even if it's a freak accident (ie: lost control on ice, tire blew out, etc) you could be on the hook for a shit ton

>>28522010 (OP)
Two things to remember.
Your insurance pays for what you did to the other person and,
Statistically, you'll be in maybe 1 accident in your entire life that justifies a coverage level one slot above the minimum.

Now I can't help if you drive like shit, but paying $100/mth or whatever the inflation equivalent for 40 years instead of $35 is something like $30,000 which you'd have earned way more on if you managed to save/invest it.

>>28522518
It still depends on the vehicles value. If you have a sub $5k shitbox and they give you $5k for it you're still sort of fucked because you aren't getting fuck all for $5k these days. I had full coverage on my shitbox before it was totalled and while I got $2k for a car that was worth maybe $150 on a good day I still wouldn't call that a win because I've been paying for full coverage for years with no accidents. Like others have said I probably would have been better off just saving or investing that $100/mo.

>>28522010 (OP)
No. Even if you're at fault and someone sues you for damages they can't legally make you pay. Just ignore their calls. As long as you didn't do anything criminally wrong they can't force you to pay in civil matters.

>>28522776
>>driving without insurance or bare minimums
Nobody said that, just skipping on full coverage.

>>28522010 (OP)
For an old car probably not. They will severely undervalue your car.

>>28522518
Will the other person not be obliged to pay for the damage if they're at fault in the US? I've never had insurance and have always just been paid out by the other person's insurance company.

>>28522010 (OP)
>Is getting full coverage insurance worth it?
My shit box I for $500 was hit by a Mexican.
Insurance paid me out $3,000.
I kept the car and the money and drove it another 100K miles.
Well worth the extra $20 a month

>>28523303
fun fact everyone on the road in the US is a beaner with no insurance

>>28522010 (OP)
It would be worth it if you rely on your car to get you to your job and couldn't afford to buy a new one if it got totaled. In that case, totaling your car would also entail losing your income, and that could theoretically make insurance have a positive expected value.

In reality, I'm not sure how often this situation can exist considering that if you totaled your fully owned yet uninsured car you would just be able to take out a loan and get a new one. In most circumstances the risk-discounted loan payments would be so much less than the insurance that I don't think it could ever make sense to buy comprehensive insurance.

>>28522790
Well yeah, if you drive a shitbox there's not much point. I'm assuming a half decent, relatively new vehicle.
>>28522811
>someone sues you for damages they can't legally make you pay
>they can't force you to pay in civil matters.
What fucking retard told you this? If they sue you and you just ignore it, they automatically win, and if you don't pay they can just put a lien on all of your property and possibly get your wages garnished.
>>28523303
There's a not insignificant chance they don't have insurance, and or flee.