Do I need to keep comprehensive insurance on my car?

Do I need to keep comprehensive insurance on my 2008 Land Rover that's paid off?

Answer
“Most experts recommend keeping comprehensive insurance if you aren’t able to afford to replace your vehicle if it is totaled.
Since your vehicle is paid off, you aren’t required to carry either comprehensive insurance or collision insurance.
To decide whether it’s worth keeping, you’ll want to look at the actual cash value of your vehicle and the cost of comprehensive insurance on your policy.
If the actual cash value of your vehicle is less than the cost of comprehensive insurance or you can afford to replace your vehicle, you likely won’t need to keep comprehensive insurance on your policy.”
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Emily Maracle
Answered on Jul 14, 2021
Emily Maracle is a car insurance specialist living in New York. Originally from the Pacific Northwest, she has a degree in English Literature and a background in customer service. She enjoys cooking, gardening, and living sustainably. In the future, she can't wait to upgrade to a hybrid or electric car.
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