Will just liability be enough for an older car?
2006-11-20 13:29:28 · 7 answers · asked by odandme 6 in Cars & Transportation ➔ Insurance & Registration
I'm not getting a loan, paying cash for the van.
2006-11-20 13:36:18 · update #1
It's not a matter of need, so much as a matter of do you want comp and collision. Can you afford comp and collision? If the van got totalled, would you want it fixed? If it's in good condition and had a fender-bender, would you want it fixed? You just have to weigh those options...premiums vs scrapping it if you have an accident.
You definitely need liability, but the comp/coll is up to you in the end.
2006-11-20 13:34:14 · answer #1 · answered by chefgrille 7 · 2⤊ 0⤋
No, you don't need it. If it gets any moderate damage to it, it will be considered a total though in all likelihood, so you might want to make sure if that happens you can get another car and won't need to be paid for the value of it. It will cost more to buy comp and collision than the vehicle is worth when you pay the premium over a short period of time.
2006-11-20 22:41:53 · answer #2 · answered by Chris 5 · 0⤊ 0⤋
Comp and collision are optional coverages, but liability only protects you against lawsuits. If that is all you buy, and somebody torches or steals the van, it is gone. If you slide into a lamp standard, you will have to cover the cost of repairs.
2006-11-20 16:56:04 · answer #3 · answered by Fred C 7 · 0⤊ 0⤋
If you are getting a loan - most likely will be required to have full cvg. However, with most vehicles over 10 yrs of age, you usually end up paying more for the insurance than it would cost to just replace the vehicle should something happen to it.
2006-11-20 13:32:43 · answer #4 · answered by ~ â?¥ ~ Annette ~ â?¥ ~ 3 · 0⤊ 0⤋
id just have liability on it,and besides that most insurance company's wont put full coverage or comp,on one that old anymore,but basic liability will be plenty for that old of a vehicle,,good luck,i hope this help,s.
2006-11-20 13:34:18 · answer #5 · answered by dodge man 7 · 0⤊ 0⤋
Just tell them you want the legal minimum...for LIABILITY ONLY.... if the vehicle gets stolen or totaled, it will NOT be covered under the insurance, the only thing it will cover is damage to other peoples property.
2006-11-20 13:34:47 · answer #6 · answered by John P 3 · 0⤊ 0⤋
If you can afford to buy another one, in case you total it , or if it gets stolen, etc, then you'll be ok without. First I'd see how much it is. Maybe go with a $500 deductible for each.
2006-11-20 13:42:31 · answer #7 · answered by Papa John 6 · 0⤊ 0⤋