Call Us (469) 388-1443 ☰ ˟
(469) 388-1443
Logo
  • Home
  • Blog
  • Resources
    • Secure File Area
    • Refer a Friend
    • Important Files
    • Insurance Glossary
    • Frequently Asked Questions
    • News Center
  • About Us
    • About Buckley Insurance
    • Location Map
    • Employee Directory
    • Partners
    • Customer Testimonials
    • Privacy Policy
  • Contact
    • Contact Us
    • Join Our Newsletter
Home > Blog > Keep Full Car Insurance
FRIDAY, DECEMBER 29, 2017

Keep Full Car Insurance

Should You Keep Full Car Insurance Coverage? 

Do you still have an auto loan? Lenders almost always ask for full car insurance coverage.

However, have you paid off your loan? You may think about dropping parts of your coverage like collision and comprehensive insurance. If you only keep liability coverage, you might reduce your auto insurance bills. But, stop and think before you make this decision. You should still figure out if dropping this extra insurance will really save you money in the long run.

Should You Keep Full Coverage on Your Older Car?

You should first make certain you know what different kinds of auto insurance cover. These are very brief definitions:

Liability: Most states require this coverage. It covers the other guy in case you cause an accident. Your policy can assist that driver with repairs or medical needs.

Collision: This pays to fix your car after a wreck if another driver isn't responsible.

Comprehensive: This pays to fix your car after you have a non-accident loss.

You may feel tempted to save money by limiting your insurance to liability coverage. You can see the problem, here. If you do cause an accident, you'll likely still need to pay to fix or replace your car. Also, if your car gets stolen, flooded, or damaged by hail, you won't have an insurer to help pay bills.

When Should You Drop Collision and Comprehensive Insurance?

You need to think about the impact of losing your car. Can you pay the repair bills or to replace a junked car? Could you rely upon other transportation until you can save money to pay the bill? After you wreck your car, you may even need to pay to have it towed and stored until you can fix it.

No matter what, damage to your car will cost money. Having an insurance company to pick up the bills could be something that you take for granted now. You won't take it for granted after you have an accident without that kind of protection.

You might find money-saving advice that tells you to drop full coverage after you pay off your car. If you can put your savings aside in case of an emergency, this might be a good idea. However, always remember that you may not have the money to make full repairs on a moment's notice. Many people choose to keep full coverage for the peace of mind. It's an individual decision, but you should not make it lightly.

For more information, call Buckley Insurance Agency at 469-388-1443.

 

Source: Insurance Technologies Corporation

Posted 5:19 PM

Tags: full coverage, car insurance
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2019
  • 2017
  • 2016

  • business insurance(5)
  • auto insurance(4)
  • insurance(4)
  • home insurance(3)
  • quote(2)
  • homeowners(2)
  • buckley insurance agency(2)
  • car insurance(2)
  • frisco(2)
  • climate change(1)
  • panels(1)
  • diminished(1)
  • office move(1)
  • auto insurance trends(1)
  • accident(1)
  • minimum coverage(1)
  • texas republic insurance(1)
  • plano(1)
  • smart home technology(1)
  • deductibles(1)
  • republic auto insurance(1)
  • independent agent(1)
  • homeowners insurance coverage(1)
  • homeowner insurance(1)
  • smoke damage(1)
  • black friday tips(1)
  • republic auto texas(1)
  • value(1)
  • other insurance(1)
  • travelers(1)
  • insurance coverage(1)
  • auto insurance coverage limits(1)
  • estate administrator(1)
  • reputation insurance(1)
  • fireplace(1)
  • home and auto insurance(1)
  • insurance products(1)
  • inverter(1)
  • fire extinguisher home(1)
  • surety bonds(1)
  • earthquake(1)
  • copyright infringement(1)
  • homeowners insurance(1)
  • full coverage(1)
  • new address(1)
  • condominium insurance(1)
  • auto(1)
  • solar energy(1)
  • safeco mobile(1)

View Mobile Version
Logo
Quick Links
Home Our Products Customer Service Payment Options Report a Claim
About Us Refer A Friend Our Carriers Blog Contact Us
Location
4645 Wyndham Lane
Suite 220A
Frisco, TX 75033

Two blocks North of Main Street off Legacy Dr.
Phone: (469) 388-1443
Fax: (469-388-1444
Em: Steve@stevebuckleyinsurance.com
Social Social Social Social
© Copyright. All rights reserved.
Powered by Insurance Website Builder