When u pay your vehicle off, do u keep full insurance on it or just libability (sp?)

[mamaofficer]

I have am 2004 Grand Am, and i was thinking about dropping the full insurance.

[Hottmomma607]

Actually DH&I are the verge of paying off both vehicles. And we have been having this same discussion. We think we are not going to keep full coverage.

[1214Choc]

That's totally up to you but you know that liability only covers the other person's property, not yours. So if you have a wreck in your paid off car, and it's your fault or even if it's not your fault, but the other person is uninsured, then you either have to drive around in a tore up vehicle or get another and start payments all over again.

[Candy2]

I paid cash for my car 7 years ago, its an 03 Accord. I've always had full coverage & wont ever drop it. I've had several accidents, none were my fault however, the last 2 had no insurance. If it weren't for full coverage I would have been a$$ out. For me just the benefit of rental car coverage is enough to maintain f/c So......its up to you.

[ikesmommy]

I keep full coverage with no deductibles! I like the idea of walk-away insurance.

[Kdsangel]

word of advice: exactly 1 week after paying off our car dh crashed it - our vehicle was the only vehicle involved.  And while i was upset we would now have to pay a car note I was also glad to receive that check as a down payment for the next car.So I would only drop full coverage if there's  a huge change in cost and if fixing your car would be less than paying the deductible.

[Mishandia]

We keep full for the reason(s) stated ^^. 

[1214Choc]

Also let me add that if your insurance premiums are high enough to have you considering to only carry liability, it may be time to shop around for a new carrier. Now if you have a jacked up driving record, you just disregard everything that I just said. But seriously, It doesn't cost anything to get a quote, so if you don't find anything lower, there's no harm done.

Going directly to an insurance company (as opposed to going through an agent) will almost always get you a lower rate. Also, if your credit isn't the best...and actually even if it is, refuse them to run your credit for a quote. They'll make it seem like you HAVE to let them run your credit, but you don't have to. Lastly, stay away from janky (for lack of a better word) insurance companies....companies like Direct General and A-Affordable, etc and go to a REAL insurance company like GEICO, Esurance, or Progressive.

I'm just throwing a suggestion out because I used to hold insurance licenses in five states and most people view insurance as an unnecessary bill until they need to make a claim. And my insurance is probably one of cheapest bills I have and I have both of our vehicles fully covered.

[JayRo00]

Full coverage

[smiley83]

I dropped full coverage on mine a couple years after paying it off.

[Kandie7113]

I'm paying mine off next week & keeping full coverage