Excerpt from a blog originally from Why Platinum?
"My car's paid for. Why insure it?"
or, "It costs more than the car's worth?"
You have to have the liability coverage, but what about the rest?
In some cases Collision Coverage is expensive relative to the benefit of insuring an older car. But what about the Comp Coverage? People often drop both, but they are not attached. Comp, sometimes called "other than collision", is often an inexpensive part of the policy.
Consider keeping the "comprehensive" coverage even if you drop the "collision."
Comp (Comprehensive) Coverage covers physical damage to your car from hazards such as (but not limited to):
- Fire
- Theft, Vandalism, & Riot
- Lightning
- Hail
- Flood
- Earthquake
- Explosions
- Damage from Contact with an Animals
- Falling Objects like Trees and Branches
These are all risks that even great drivers face since they don't always involving the skill of the driver. They happen to the car, often when not even moving.
Animals?
