Should I take full insurance coverage off my 11 year old car?

I always pay my insurance in full every 6 months, I just got the bill and it’s $534 which is pretty standard for what I’ve been paying for years. I don’t have any accident claims on this car(which has been insured with allstate for over 7 years), No DWIs or even tickets, clean record.(also I’m a 29 year old male)

In comparison to other people it’s pretty damn low, however it’s full coverage and I have a $1000 deductible on both comp and collision, I set this insurance up back when I had much less money. Thing is the car is only worth $3000 – $4000 so I’m not sure having collision or comp is even worth it anymore. Also I’m shopping around for new insurance regardless cus I’m pretty sure I’m getting wrecked. I did a quote with geico and even with the same exact coverage it was ~$200 cheaper.

submitted by /u/LucefieD
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Author: /u/LucefieD

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