SVT3391
CEG'er
Full coverage for all cars we own.
I think I'll end up keeping it on. I plan to drop it to only fire and theft during the winter months while it's stored.
unless its a hit and run like what happend to mekinda a waste of money since the value of the car keeps dropping no matter how pristine the car is. Insurance companies dont really factor in collectability of a vehicle, coolness, or much else, they just plug in the standard formula for depreciation. Also you have to consider the fact that modifying a car actually decreases its value on open market, while it is worth more to an enthusiast, it is worth much less on a car lot. So.... If your car is modified, unless you are carrying customization insurance, you are losing value there too.
Anyways, I would say on nearly any car older than 2000, if they are paid off, full coverage is a waste of money. Just drive safe, if someone else causes an accident, then their insurance will pay, if you cause an accident, then you deserve to lose your car, and you can always put theft coverage on your vehicle. Other than that, if your car is parked in your garage and there is a fire or a storm, your homeowners insurance should cover damages.