Do You Need Full Coverage Insurance on Your BMW 330 ZHP?

[Marcus-SanDiego]

I know a lot of us own these cars outright. When it comes to insurance, you have to make a decision: do I fully insure it or do I just go with the minimums?

I just saw a thread where a guy had his 745 ripped off. He owns the car clean and clear. He only had liability insurance on the car. If the car isn't found, it will be a total loss to him, since he didn't have anything other than liability. Ouch.

There are some rules of thumb when it comes to insurance. My pal, Liz Weston, has written about this topic many times (in her column).

http://articles.moneycentral.msn.com/Insurance/InsureYourCar/DumpTheInsuranceOnYourClunker.aspx

For the record, I have full coverage on my ZHP.

Get a Free Quote From Geico Insurance Here (http://www.tkqlhce.com/click-4193730-10358738).
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[Alphatek45]

For me, I would have full coverage on any vehicle worth more than $7500.00. Since the average nice ZHP is about double that, I say get it.
If you have a 5K beater (and it wont destroy you financially if it disappears) then I say go for the lower monthly premium.

Guess it depends on financial situation, location,daily storage (garage/outdoors) and exposure (ie. if its a DD) mostly.

[danewilson77]

I recommend it, and get total loss protection...

[gr330zhp]

Both my ZHP and Jetta are full coverage....

[Marcus-SanDiego]

My Jeep, meanwhile, is not fully insured. In the event of a total loss, I would be ass out. That's no biggie, though. I have decided I can eat the loss (and financially it makes sense).

[mimalmo]

Full coverage. My rates are low enough that it doesn't make sense for me to not have full coverage. Just one of the benefits of being over 35 and living in the country.

[Mtnman]

i have full coverage, and a lesson for this who dont, so im reviving this thread. 4 weeks ago i was driving down the local highway in a 45-50 mph zone (dont remember which) it was a 4 lane road, with only a center stripe, not a divided highway. i am riding in traffic at normal speeds, when all of a sudden there are 2 landscaping blocks in the middle of my lane. I mean blocks that one would build retaining walls with. The jeep in front of me drove right over them. I had no where to go to avoid them, so went over them as well. Kinda. So immediately, BAM! i pull in to the va hospital and look for leaks. Nothing. But he car is shaking like hell at idle. Pull out to the gas station 1 mile away, and there it was. Drop of oil. Get it back to where i can leave it and thankfully no lights come on, but oil is streaming out of it by this point. Get it towed to my mechanics and call my insurance company. Damage- busted oil pan, skid plate, transmission pan/cover, oil service, transmission service (auto) alignment. (cant remember but might have been control arms too) cost-3,000k. Insurance said it was unavoidable, and they were going to call it a comprehensive claim. Out of pocket for me-500. also, because it is comprehensive, my rates dont go up. Im not a kid anymore, and have some cash, but even for me a 3,000 unexpected bill is a bitch. 500 i can handle without a hiccup.
David

[mimalmo]

^^^Great example of why I keep full coverage on mine.

[az3579]

Where I live it's not what I would call the best of places, so full comprehensive coverage is a must.
I live right on a street corner with a stop sign right in front of the house. If I was to sit there and watch, 7/10 people would roll through the stop sign doing at least 15-20 mph. This is the very same street corner that my brother got hit on his motorcycle, with the person that hit him driving off without even checking to see if he was OK. He broke his arm and is lucky to be alive.

Every day I witness idiots changin lanes with signaling WHILE cutting you off (double no), or tailgating you even though there isn't any place for you to pull over or speed up, or just yakking on the cell phone or texting. If you don't have insurance here, you WILL NOT survive, because the chances of getting into an accident due to someone else's error is way too high.
Plus, it's not the safest of neighborhoods. To give you an idea, shitty cars with 20" chrome wheels and Hondas with flat black paint jobs and fart cans is a COMMON sight. Every 3rd or 4th car is one that makes me gag plainly because of the owners lack of taste. These are the kinds of people I don't want to be surrounded by plainly because the way they drive and act (all "gangsta") and makes me want to plop them in the head with a heavy shovel.


YOU NEED INSURANCE ON A ZHP. Period.

[kayger12]

Full coverage with a $50 comprehensive deductible :)