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Do Auto Insurance Premiums Reduce When The Car Value Depreciates?

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Do Auto Insurance Premiums Reduce When The Car Value Depreciates?

Postby Aengus » Sun Oct 01, 2017 2:08 pm

There is no hard and fast rule that rates drop because of depreciation.
However, if you no longer are required by the lien holder to have full coverage on the vehicle, you can reduce your premiums by dropping things you don't need, or raising the deductible amounts.

You might want to talk to an independent agent to see what options you have with other companies.
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Do Auto Insurance Premiums Reduce When The Car Value Depreciates?

Postby Nessan » Wed Oct 04, 2017 6:42 am

The premium for physical damage (comp/collision) usually goes down with age, up to 10 years (as old as a car gets for insurance purposes), but claims experience can change that; if claims are higher than expected, it can stay high or even go up as the car ages.

The premium for liability coverages does not change due to age, but only by claims experience.
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Do Auto Insurance Premiums Reduce When The Car Value Depreciates?

Postby Eadward » Sat Oct 07, 2017 5:11 am

it truthfully relies upon on which corporation you're insured with as pronounced in the previous. On an entire nonetheless if the vehicle is below 12 months old (which i'm presuming yours is) then maximum companys will replace the written off kind with a similar kind. If even nonetheless you have lost faith in mentioned kind you're able to barter that extremely than getting a like for like swap over you've the montery cost.
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Do Auto Insurance Premiums Reduce When The Car Value Depreciates?

Postby Shea » Tue Oct 10, 2017 8:08 pm

sooooooooooooooooo drop collision and keep liability and comp
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