"Should I have full-coverage or liability-only insurance on an old Honda Civic? "
I own a 2010 Honda Civic with 126,000 miles that's worth around $5,000. I am paying $718 every six months for full coverage with $500 deductibles. Liability-only coverage with the same insurance carrier costs $491 every six months, saving me $454 a year. What would you do?
- Is this your primary vehicle, driven daily, or a rarely driven second car?
- Do you rely on this vehicle to fulfill your obligations (work, errands, picking up the kids, etc.)?
- Would you be able to easily replace this vehicle if something were to happen?
- Are you a safe driver with a clean driving record?