When can you reduce coverage on your car insurance?

I am carrying full coverage and liability limits of 100/300. I'm trying to save money and am considering reducing my coverage. Is there a recommended time to reduce do so?

Answer
“Before reducing your car insurance coverage, consider a few of these ideas.
First, experts agree that you should always carry as much insurance as you can afford; you can’t be over insured. As an example, your liability car insurance should always be maximized. As this covers other damages and injuries to other motorists, it’s protecting you from having to pay out of pocket.
Secondly, it is possible to remove comprehensive insurance and collision insurance on your vehicle, but you’ll need to look at your finances.
If your car was totaled tomorrow and you could afford to replace it, you could remove full coverage. If it would cause financial hardship, you should keep it.
If reducing coverage isn’t an option, shop around for insurance. Use the Jerry app and you can pore over dozens of rates from top insurers to find the best coverage for your needs.”
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Emily Maracle
Answered on Aug 20, 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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