insurance company state car older than 12 years can not buy insurance
insurance company state car older than 12 years can not buy insurance.
Jan 28th, 2012 7:09 pm
Jan 28th, 2012 8:04 pm
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Jan 28th, 2012 8:31 pm
Jan 28th, 2012 10:37 pm
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Jan 29th, 2012 11:36 am
Jan 29th, 2012 4:26 pm
Jan 29th, 2012 5:22 pm
Jan 29th, 2012 5:55 pm
kneevase wrote: ↑Jan 29th, 2012 5:22 pmMy guess is that you may have misunderstood what the insurance agent was saying. It's likely that you cannot obtain collision insurance for cars that are 12 years old or older. However, 3rd party liability is probably not a problem to obtain.
Personally, if it's just collision or upset that you cannot insure, I wouldn't worry about it. For most 12 year old cars, you're really not insuring anything. A 12 year old car is typically only worth $2,000 so if you have a $1,000 deductible then your maximum net indemnity from collision is only $1,000. While I do not know anything about your personal financial situation, my opinion is that if you need to insure a $2,000 car against collision, you really are too poor to be a car owner. Anyone else would just establish a modestly funded emergency fund to repair or replace such an old car.
Personally, I took collision insurance off my car when it hit 9 years of age. It was costing me about $400 for collision premiums with a $1,000 deductible to insure a car that red-booked at $4,500. Effectively they wanted to charge me $400 annually for a maximum net indemnity of $3,500? No thanks... At that price, I'll self insure against at-fault collisions or upset.
Jan 29th, 2012 6:38 pm
COSMIC5 wrote: ↑Jan 29th, 2012 5:55 pmhaving physical damage coverage on a vehicle 9+ yrs old does not mean you are poor even if the value is only $2000. I have alot of clients that have this on theirs, not to mention I also have 1 vehicle over 10yrs old with full coverage on it. Maybe some ppl that have older vehicles take care of them and not to mention collision coverage will also protect you in the event of a hit and run...some have only a $500 deductible... oh, and my 10 yr old vehicle is worth more than $2000....
Jan 29th, 2012 7:11 pm
Quiying wrote: ↑Jan 29th, 2012 1:31 amthis is a spare car in our family , i was trying to renew my insurance policy just for few months but the broker told me "insurance company i spoken to " states cars over 12 years old can be rejected selling insurance to me.
lol insurance company don't want my money
Jan 29th, 2012 10:33 pm
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Jan 29th, 2012 10:43 pm