Comprehensive and Collision Insurance Worth It?

First few years I had my authority I declined those coverages. I had a really old truck and trailer and was just myself, a close friend, or my brother driving.

It was probably just in my mind but I felt like this along with having the highest deductible told Progressive that I was lower risk and my policy was cheap.

 

Also how would that work out in places like MI that uses no fault insurance?
If the 4 wheeler with MI no fault insurance hits a semi without comprehensive coverage?

 

The question you should be asking is how much can I afford to pay if my vehicle is totaled, whether by uninsured motorist, my own fault, or act of God (for comprehensive) without going bankrupt or spending years in financial recovery. That should be your deductible. The deductible amount may hurt, but you will still be on your feet.

It is all about how much risk you can afford to take.

 

I tend to go the other way. I carry a personal liability in addition to vehicle insurance and several other insurances. They can stick a fork in that at judgement in court after it's all over.

My own vehicle is worth 500 book, but if I smash a 70K German Sedan then it's ok.

 

Comp is generally pretty cheap compared to the liability part of the insurance.
I had a tire and wheel come off a rig in Canada once, it did over 10 grand damage to my truck, and I never knew whose truck it came off of. I did not have comp on mine, but my uninsured motorist clause took care of the damages.
I do not carry comp on my log truck. unless something happened that totaled the truck and all the log gear, I could easily replace it for 20 grand or maybe even less.
I laid it on it's side once, and did have comp at that time, I had to wait a couple of hours before anybody came along, and during that time I decided I would not turn it in on my insurance. just use the components on another truck if need be. It turned out the snow was deep enough, the only damage was a mirror and bracket. lol

 

I have both of them with $1000 deductible. it's not expensive.

 

ones for natural causes. the other one is for dumb people causes