Should I Carry Comprehensive and Collision on My Older Vehicle?

To determine whether to carry full coverage or liability only, consider the cost of the insurance (broken down by liability and physical damage) and whether or not you have money in your emergency fund to replace the vehicle if totaled, stolen, or damaged. Most of the time, the savings for dropping the comp/collision is fairly small, and Dave recommends keeping it in place if the car is crucial to your household income and you don’t have the money to replace it. Remember, carrying the appropriate level of liability insurance is the most important issue since your greatest risk to your personal assets is usually operating a vehicle. Get a free, instant quote to see how affordable auto insurance can be.