How much car insurance should I get on a cheap old beater in Florida?
I just bought a cheap car from my friend, and it's my first car. What type of coverage should I get in Florida?
Apr 23, 2021
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Answered at Apr 23, 2021
FloridaLiability CoverageCar Insurance
“Typically, people employ the 10% rule as far as car insurance goes. This means that if you add up collision and comprehensive coverage, plus the deductible, and it’s more than 10% of the value of your vehicle, you don’t need this added coverage. From what you’ve described, this rule will probably apply.
In that case, you’ll only need liability insurance. Just remember that the state-minimum requirements are typically too low to fully cover you in an accident, especially in a no-fault state like Florida. Increase your coverage to something like 50/100/50 or 100/300/100 to make sure you aren’t paying out of pocket if you’re in an accident.”
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