Comprehensive and Collision Insurance Worth It?

Thanks for clarifying!

 

That makes sense to Me. I always had actual value, however I’ve been told by more than 1 Agent, over the past 15 yrs or so, it doesn’t matter what I’m insured for, aside from a Super Truck of sorts, they only cover cost to replace like equipment. I still use stated value option. But at a realistic ( a little higher) than replacement cost. Just in case. My opinion to the OPs question is get the insurance. It’s cheap enough. If something happens it will be well worth it. Maybe even a blessing in disguise. This has been my experience, never a rate increase, wether it’s hitting a deer or a minor parking lot mishap, or a Total Loss. Always worked out to my benefit. Instead of a total loss disaster, you get to go shopping for a new, better Truck. Usually pays more than you could have sold it for anyway, nothing lost financially. If I hit a deer tomorrow, I’d get a new radiator, grill, ac condensor, bumper ata cooler, all for the cost of deductible. What a deal. Heeeaaaarrrrrr Bambi!!!!!

 

The semi is out of luck. Best case scenario, Semi could file a mini tort claim, if other Driver was found at fault. Essentially suing for $500 or $600, last I heard. With insurance, same applies, filing a mini tort claim, on top of Ins. Payout. If the semi has what’s called “ full” Comprehensive Collision, Deductible is waived when not at fault, no need to sue/ file mini tort claim. Ins company will handle it.

 

I know 100% with Progressive you can have whatever value you want on it but they still will only pay what they deem it to be worth. However, if you insure it for less then what they deem it worth, then they will only pay out the amount you had listed.

I’m fairly certain most other trucking insurance are the same.

They like to have their cake, and eat it too.

 

Yes, this is Progressive that I was speaking about.

 

UPDATE—

So my insurance went down about 3k with the deductibles at $2,500. Next year I will probably ask for a 5k deductible and possibly remove the comp and collision coverage for my truck as it won’t be worth much next year.

 

Congrats. Now your deductible is prepaid so to speak, or a little damage you wouldn’t have turned in anyway you can pay for with this new savings.

 

Hey yalll

 

1st year 20k
2nd year 27 with progressive because dot score but 17k with Canal. With alot more coverages.
Is canal worth it?
I have comp collision unlimited and 1k deductibles with non owned trailer interchange put on by new agent.
If I put 500 radius, high deductible and no comp collision and my paid for Reefer trailer I obtained this year instead of tk interchange.
My new policy would be probably like 12k for renewal now which is 15k difference just because progressive dot score policy smh hahaha.what a difference right?!?!?

 

Maybe start a new post...this week e is 4 yeas old....