What and how much insurance would you have for a 2004 Camry?

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1

<p>Sort of embarrassed to say that I have kept the same coverage on this car for the past 10 years . . . pretty sure it needs updating! Close to 140,000 miles, just replaced the power steering column but otherwise no issues at all. Advice?</p>

2

<p>Remove your collision insurance - if it got banged up you would not repair it correct?</p>

3

<p>Sometimes it makes sense to keep comprehensive (broken windows etc) on old car when you remove collision. </p>

4

<p>Hmm. I have a 13 year old car, and I still have collision with high deductible, and I would definitely want it repaired if it were "banged up. I wouldn’t want to drive a car that has obvious damage,even if it’s old, but I realize not everyone feels that way.</p>

5

<p>I would think that your rates would be decreasing a bit annually as your car ages, and replacement value decreases. You don’t want to reduce your liability insurance, so that coverage should stay the same, regardless of the age of your vehicle.</p>

6

<p>We have kept full coverage on even our older cars. For one, even an older car is usually worth 7 or 8 thousand if totaled. Two, we are required to keep some collision in order to buy liability insurance. </p>

7

<p>Call your insurance agent. Ask them how much would they give you if you got in an accident and the car was either totaled or needed a major repair. There usually is a point where they will total it instead of repair it. We kept full coverage on our older vehicles until the it didn’t make financial sense.</p>

8

<p>We have no collision coverage on my old car because it has 180,000+ miles. I keep it because it reduces insurance cost for the youngest one who has less than 3 years of driving record and she is in college. The bluebook value suggest about $2000, I can sell it for cheap for those who need a car for $500, it makes no sense to buy collision coverage. I also don’t drive the car that often, only use it to pick up construction stuff.</p>

9

<p>We kept collision coverage in a ten year old vehicle…and good thing. It was totaled. We got more than the book value because we were able to demonstrate it was in excellent condition, with new tires, and current and continuous service records. </p>