Do I still need full coverage on a Subaru Impreza that's paid off and valued at $5,500?

I just paid off my Subaru Impreza. It's now nine years old and worth $5,500. Do I still need full coverage, or can I switch to liability?

Answer provided by
Eric Schad
Answered on May 04, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
“The choice is entirely up to you, but it should be based primarily on your finances.
If you totaled your Subaru in an at-fault accident, could you afford to get a new car? If the answer is no, you might want to stick with full coverage.
If you can afford to get a new car, sticking with just liability coverage should save you some cash that you can put away for a new vehicle in the future.
Whatever you decide, do yourself a favor and go to Jerry to compare quotes and find the best rate.”

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