Should I drop comprehensive and collision coverage on 2006 Ford Taurus to save money on premium?

I own a second car which is a 2006 Ford Taurus. Market value of approx. $2750. It is in good condition, with 63,000 miles. Stays in garage, driven sparingly. Current insurance on it has comprehensive ($124 premium/$250 deductible) and collision ($285 premium/$500 deductible).

I'm not sure how your insurance works, but without those, would you have coverage in case you are in an accident and have to pay for other car and medical?

I would say yes.

No, not unless you can afford to repair or replace it outright.

You could, but I'm going to recommend against it. I've seen people in your situation over a hundred times, in fact one of them was my mother.

People would call me up and ask me if it was 'worth it' to keep the Collision and Comprehensive coverage on their cars, and they'd say the same thing as you: The vehicle is getting old, and it won't be worth very much if it's written off. I would tell them how much they're paying for those coverages, then I would insist that they had to tell me if it was worth it. (An insurance guy can only tell someone the options, can't make the decision for them.) Some people decided to keep the coverage, because it didn't cost much, others decided to drop the coverage and save some money. But then I noticed a pattern.

When people drop the optional coverage from their vehicles, it usually takes less than a year for something to happen (accident, stolen vehicle, fire, whatever) that would have been covered. But they dropped the coverage just a few months / weeks (sometimes even days) ago, so now it's not covered at all. And it was their decision, so they have nobody to blame but themselves. And it happens a lot, so often that I started insisting that my customers make those requests in writing and sign them.

Nobody knows why it happens, but it happens a lot. When you carry optional coverage on a vehicle for years and then remove it, that's when stuff happens to the vehicle.

If you are prepared to lose all the value of the car if you prang it then yes drop it - if not then don't.

All the Nervous Nellies on here will say no, but I would say yes. The car isn't worth that much anyway. And despite what anyone on here tells you, the odds of you getting in an accident are low, especially if you're a safe driver.

Hi so how you intend to insure your car is between you and your insurance company.

Drop the insurance. I always suggest people insure cars when the value is over $5,000.

You should if YOU want to. I certainly would not carry either collision or comprehensive on a car worth only $2750. I would carry only liability. 'Sup to you.

I've never kept comp/collision on a car that I wasn't required to have it on (i.e. Outstanding loan balance, etc.)

It's up to you though.