looking for a bit of advice

I'm looking for a bit of advice also so I might as well ask my question here. I bumped my motorcycle trailer while moving my truck, no damage to the trailer but put a nice dent in the door of my truck to the tune of 2 grand to get it fixed. My truck is a 2010 Tundra with 99000 miles on the clock and other than this dent the truck is in excellent condition. So my question is if I report it to my insurance company, USAA, will my rates go up? My truck is in near perfect condition but I really don't want to spend 2000 dollars to repair a dent nor do I want my rates to increase. Thanks

My question is more basic. Once a vehicle is paid for it doesn’t seem reasonable or to keep platinum coverage - so what is the minimum one can get away with?

quote:

Originally posted by nhtagmember:
My question is more basic. Once a vehicle is paid for it doesn’t seem reasonable or to keep platinum coverage - so what is the minimum one can get away with?

I believe the minimum coverage requirements are state specific, your local agent should be able to help you with that question.

My BIL is an insurance agent here in AL, he probably can dig up the #'s for your state but he is on vacation and will not be back until next week. If you still need the info then send me an email.

Nerd Wallet - Minimum Auto Insurance Requirements by State

That or the better thing to do would be to bid your insurance out every year through an insurance broker to get the best possible rate on Home, Auto, and Umbrella insurance.

The minimum liability requirements of each state have nothing to do with the value of the vehicle or whether or not it is paid off.

Because it is paid off, nobody can tell you that you have to have property coverage on the vehicle, so get as much or as little as you want.

There is a coverage that you can buy that is very inexpensive that will cover your vehicle from other people, but not you. In other words, if you run it into a tree (or a trailer) there is no coverage, but if someone hits you, there is coverage.

quote:

Originally posted by nhtagmember:
My question is more basic. Once a vehicle is paid for it doesn’t seem reasonable or to keep platinum coverage - so what is the minimum one can get away with?

My personal opinion on coverage depends on the age of the vehicle, miles and value. When my mom's Camry reached a certain age and miles the value of the car didn't justify carrying full coverage so we dropped collision and kept everything else. There's no need to pay for full coverage when your premiums exceed the value of the car after a few years. So if you're paying a thousand dollars a year for coverage and your car is only worth several thousand dollars because of age, condition and mileage you're probably better off dropping some coverages to reduce your premium