Is it time to go down to just liability coverage on my 2012 Nissan Altima?

"I have a 2012 Nissan Altima that is in so-so condition. I have full coverage with a $2,000 deductible, but now the car is paid off.

Should I remove full coverage to save some money since I am not driving much right now? Its value is around $5,000."

Answer
“We are all looking for ways to get cheap car insurance. Before you remove your coverages, here are some things to think about:
  • Do you have enough saved up for a down payment to purchase another car?
  • If your car is totaled in an accident, will you need a rental car to drive right away?
  • After paying the deductible, is the amount left over for your next car worth it? Or are you better off putting the savings aside?
Keep in mind that there is also another option. You can remove the collision coverage and keep the comprehensive coverage with a lower deductible. Comprehensive coverage is very inexpensive, and you will be covered from losses like fire, theft, and vandalism. “
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Shannon Martin
Answered on May 12, 2021
Shannon is an expert in personal lines liability insurance with 13 + years of insurance industry experience. She also served as a special insurance liaison to AARP members for 6 of those years. She is a graduate of UL Lafayette and currently resides in NY with her family. Shannon is also an amateur juggler, ukulele player, and is a time travel paradox theory enthusiast.
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