Should I take off full coverage and just get liability insurance on my car?

cocoanutt

you need full coverage if you have a loan. otherwise, it's up to you if you want to gamble. I own one car so I have full coverage because I would need to replace it immediately. And KBB prices aren't what you would get for replacement cost I don't think, plus you're not likely to total your car.

Mark

it will give you more of a peace of mind to get full comp, than just liability. accident(s) can happen, no matter how careful you are. don't just consider your car's value, there are other things that might be involved in an accident. it might be your fault, or somebody else's. full comp gives you a lot of options, and coverage (that's why its full comp). :)

Gnome

I think it depends on what you can realistically afford.

While it is tempting to just dump full coverage and go with liability, should you, (God forbid) have an accident, be advised it doesn't take much of an accident to be assessed as a total wreck. So, it isn't an easy decision, but the drama of dealing with the whole kabash of having to go on a car search is a pain in the butt.

Without full coverage, you are going to have to foot the bill for a different car.

Do the math because it can be a really surprise expense and only you know what resources you have available.

michael r

NO! KEEP THE FULL COVERAGE. YOU NEVER KNOW WHEN SOMETHING MIGHT HAPPEN. MY BROTHER HAD LIABILITY AND WHEN HIS CAR WAS STOLEN HE WAS "ASSED OUT" BECAUSE HE COULD NOT CLAIM IT DUE TO ONLY POSSESSION OF LIABILITY. ALSO I RECOMMEND GETTING UNINSURED MOTORIST. I GOT INTO AN ACCIDENT ONE TIME AND THE DRIVER DID NOT HAVE INSURANCE, THEREFORE I WAS "ASSED OUT" UNTIL I REALIZED THAT I HAD UNINSURED MOTORIST. MY INSURANCE COVERED MY MOTORCYCLE AND WENT AFTER THE GUY WHO HIT ME.

Answer Man

It's true that if you do not have a lein on the car you can run with liablity only.

But consider this. Say you hit a deer or your car is hailed on. Niether of those things can be controlled by you.

Not sure if you have ever hit a deer before. They pop up out of nowhere and 9 out of 10 times you'll hit it. In most cases you would be looking at least $2000 in damage, but probably higher. I've had a car totalled out from a deer hit. These would be protected under comprensive insurance.

If it were my car and it was paid for, I would at least carry comprehensive to cover "acts of God" such as deer and hail. Comp also covers fire, vandalism and theft. You can carry a low deductable and it still would hardly be more than you would pay for liablity only.

Collision insurance on the other hand protects you from accidents that are your fault and involve other cars. If you ran a stop sign and t-boned a car or if you rear ended someone at a red light, collision covers that. This is the most expensive coverage because it carries the most risk.

If you car is paid off, then it's up to you. But if you don't have a car payment, why not carry full coverage to protect your car? Say you don't have full coverage and you hit a deer or you have an accident that's your fault and your car is totalled, you will lose $5000 in the snap of your fingers.

Personally I wouldn't run the risk.

Kiffin # 1

If the car is paid for entirely and you don't mind if it is totalled, you can save a few bucks by eliminating the Collison and comprehensive coverage. Just be aware that you will lose some important coverage rights if you do decide to drop the Full coverage.

PeppermintandPopcorn

The generally rule of thumb is to keep coverage on the vehicle until it's 10 years old.

However, you can choose what every you want for your vehicle as you own it.

The answer depends on you. If the vehicle gets damaged where you are at fault or the vehicle has glass damage or vandalism; can you afford to fix it yourself?

If yes, then go for liability.

Staveros

keep the full coverage. The cost is minimal for the comprehensive at roughly $100 / year for that car. Ask your agent what the cost is. You aren't saving much by just having liability

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