I got liability insurance for my car, my brother said I am stupid for not getting full coverage, is he right?

schoolot

Depends on how old the car is. Full coverage is good if the car is newer and has some value. An older car that was not expensive, has minimal resale value, and you aren't going to drive for a long time should have just liability.

tantiemeg

Depends on the value and age of the car.

My husband and I drive newer cars that are retaining a lot of their value. We have full coverage. Even though we owe nothing on my husband's car, this is less expensive for us. It would save us less than $20 a month to drop collision on his car.
Our daughter, in college and living at home, has an older car which has not kept its value. She keeps the replacement cost in her savings account. The difference for her between full coverage and having liability only is $50 each month. She has saved $1200 in two years. Her car is worth about $1500.

Not if your vehicle isn't worth much. If the trade value is only a few thousand, then it won't pay to make the extra payments...noper.

Mrs. Strain

If your car is worth under $5000, then don't bother. If it's worth more than that, then only insure if you can't afford to replace your car. It mainly depends on your personal finances.

savannah

If it is a new car, most states, or the people you bought it from, will make you have full coverage. However, if it is an older car, (well, no matter how old, it just matters if you've paid it off - as far as the law is concerned,) and you are a good driver -- I would just add uninsured motorist and underinsured motorist to my policy, they are very cheap to add on, probably around $2.00 - $5.00 a month.
You have to figure the price of replacing the vehicle against how much you will pay out in full coverage.

tantiemeg has good reasoning....

CowboyBill

Hell, who knows? Do you drive a Rolls Royce Silver Spur or a '78 Chevy Vega?

avery

I would think it would depend on the car you have,, if its paid for, liability should be fine. I have liability only on mine.

karen m

depends, is the car financed, is the car a beater car..many other questions to answer this...

Bigz

He could be...My car is paid off and was about 10 years old so i figured i would be cheap and put liability on it. I was in a hurry one day and didnt set the parking break good and it rolled out the driveway and hit a tree...my insurance didnt cover that and i lost my *** in all the custom work that was already done to my car...so if its something u just drive...then yea, but if u put a lot of money in it, get full coverage....

helo pilot cfi

what value does your car have it condition any car over 10 yrs old not woth it because if an any accident they go by book value

same as above

Yup!

bostonianinmo

That depends upon the value of the car. If you're driving a brand new car, your brother is probably correct. If you're driving a 15 year old beater, he's nuts.

Chris

He could be, if your car is a newer vehicle. If the premium for full coverage is more or close to the car's value it may not be worth it to do so.

foothill4fun

let me guess , your brother sells insurance for a living , full coverage is nice if it is a brand new car , but if your a safe driver and a older car liability is legal enough to drive

brandiwine72

That all depends on the vehicle your driving.
Liability insurance covers any car you may hit. It in no way covers your car. If you hit someone their car is fixed and you get your car back the way it is. With Full coverage the insurance co will repair the vehicle you hit and also repair your vehicle. This is why finance co require full coverage for financed vehicles. If you drive some old clunker car full coverage is a waste.

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