I have had full coverage on my 99 Ram 2500 since I purchased it in 2000. I am moving the truck from my personal insurance to my business insurance and they are asking if I want full coverage for $1300 a year or PLPD for $850.

I just wanted to see what everyone here was using for insurance.

Also, what would you think a truck like mine (99 4x4 2500 ext cab) would be worth if it was totaled out?

 

When my car was totaled out a few years ago they went off NADA value. Look it up and see what they have for your truck. My guess would be around 6-7000. Depends on mileage, options, etc. For $350 more a year I'd probably just stick with full coverage.

 

The best way to go if you can pull it off: Keep enough money saved somewhere to replace the truck if you have a wreck that no one else will pay for, and carry PL/PD with reasonable limits. If you go this route and don't have health insurance or carry passengers who don't, be sure to get uninsured/underinsured motorist coverage.

It's a lot cheaper to keep your own money on hand than to pay someone else to keep his on hand for you.

For the current value of the truck, just hit kbb.com and plug in your particulars.

 

i would say if you starting your own business it might be a wise idea to go for full coverage. couldn't you right a good part of it off as a business expense come tax time anyway?

 

Lessons learned -- make sure your policy has UM (Underinsured Motorist) coverage in the event of a very serious accident. Even though my son was not in my vehicle when he was killed in a collision in October we were still able to file a claim against the UM portion of my policy as well as my ex-wife's and also the policy of the mother of the driver whose vehicle he was a passenger. Carry MedPay as well.

Insurance is something people complain about a lot. Granted, it's something you hope you never have to use, but it comes in extremely handy when that moment comes.