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Unread 08-26-2013, 12:44 PM   #1
gs69350
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1996 XJ Cherokee 
 
Join Date: Aug 2012
Location: Sellersburg, IN
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Insurance...

I just read a post where a Wrangler guy wrecked his Jeep and this got me thinking...

What coverage do you all keep on your XJ?

Mine is a 96 with 226k miles but has a nice lift and mods that make it mine. I bartered for some of the stuff and have less than $2000 out of pocket including the purchase price of the Jeep. Is it worth putting comprehensive and collision on it?

In my case, I'd be adding $10-20/month to my premuim...

Whats your thoughts?

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Unread 08-26-2013, 03:13 PM   #2
dmill89
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It's ultimately up to you but I'd say no.

Basically if it is involved in any accident worth filing a claim for it is going to be totaled (remember insurance companies use the cost of new OE parts and Dealer labor costs, so even a minor accident will result in several thousand dollars in damage the way they calculate it, and most insurance companies will total a vehicle if repair costs exceed 70% of the vehicle's value, some will total at as low as 50% of the value), you'll get a ~$2,000 check (likely ~$1,500 after deductible) and your insurance rate on your replacement or other vehicle will go up at least 20-30% (some companies will raise rates 50%+)for the next 3-5 years.

Comprehensive might be worthwhile though it can be difficult to get comprehensive without collision. The vehicle would still be totaled with just about any damage worth filing a claim for but deductibles are lower and your rate won't go up as much if at all for filing a claim.
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Unread 08-26-2013, 03:18 PM   #3
Nick05
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i just keep liability, state minimum, because down here cherokee's are numerous and easily replaced, although i haven't seen more then one other with the 2.5 around here.
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Unread 08-26-2013, 03:38 PM   #4
dmill89
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Quote:
Originally Posted by Nick05 View Post
i just keep liability, state minimum

Personally I wouldn't want just minimum liability. I suppose it depends what the minimum in your state is but here in PA it is $5,000 property, $10,000 medical which won't cover much of anything in a major accident (these haven't been updated since the 70s when that would have been decent coverage) remember you are personally liable for any damages or medical bills in excess of your policy limit if you are found at fault in an accident. I only have liability on the XJ but I have $250,000 property and $500,000 medical liability. I do have full coverage on my Mustang (both because I have a loan on it and because it is worth $30K+).


My personal rule for vehicles is that anything worth less than $5,000 doesn't get full coverage but I carry very good Liability coverage (as stated above) on everything.
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Unread 08-26-2013, 07:26 PM   #5
Nick05
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liability here is 25,000/50,000. i am also payin ind. for two xj's and a zj
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Unread 08-26-2013, 07:50 PM   #6
dmill89
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Quote:
Originally Posted by Nick05 View Post
liability here is 25,000/50,000. i am also payin ind. for two xj's and a zj
That's not too bad, it will cover most accidents. So long as you don't hit and total someone's brand new Porsche, Ferrari, Mercedes, BMW, etc. or cause really major injuries. That would probably be about the bare minimum that I would carry.

PA's minimum is a joke, it was set in 1974 (when liability car insurance was first mandated) and never updated. Back in 1974 $5,000 would pay for most cars on the road and $10,000 would cover medical for all but the most severe injuries. Today it will barely cover the damage and injuries from a minor fender bender with a moderately priced vehicle.
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Unread 08-27-2013, 07:31 AM   #7
Nick05
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well, this is arkansas. the only real "exotic" cars i have seen are a older bentley and the occasional viper.
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Unread 08-27-2013, 08:37 AM   #8
Motorcharge
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I keep full coverage on both my Jeep and my pickup. Costs me a whopping $60/m from State Farm.
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Unread 08-27-2013, 11:22 AM   #9
VegasGT
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I keep liability with comprehensive. If anything happens to it Ill just buy another and swap my parts over.
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