Tawakal Towers Blog

Auto Insurance Rates — If You Have These For That Old Car You’re Spending Way More Than Is Wise

I’ll discuss a proven step that will make you qualify for a huge discount or attract cheaper auto insurance rates: If you have collision and/or comprehensive for an old car that isn’t a classic, then you are spending much more than you should. This is because you’re reimbursed based on what is known as the Kelly Blue Book value of your vehicle at the time you file a claim. So even if you have paid your premiums without default for several years but the Kelly Blue Book value says your vehicle has zero value, you will get nothing from the insurance company and they will be fully protected by the law.

Therefore, stop wasting your money. As soon as a vehicle gets old, leave out collision and comprehensive coverage types on it. You will be saving much if you do this.