Why should I keep full coverage on my Honda Pilot if my rates are already high?

"I currently have full coverage on my Pilot, but I'm considering dropping it due to my high premiums. I'm 20 and pay $2,000 a year for insurance.

I know if I submit a claim, my insurance rates will increase even more. Is it worth even having full coverage?"

Answer provided by
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Emily Maracle
Answered on May 18, 2021
“Before dropping your full coverage. you should look into raising your deductibles for your collision car insurance and comprehensive insurance, as this can lower your rate.
You should also reach out to your carrier and see if there are any discounts you may be eligible for.
If you’re not able to find any additional savings, try shopping around. By comparing rates with multiple carriers, you may be able to find a more affordable rate for full coverage.
Should you not be able to save additional money with another carrier, you need to consider your financial situation and whether you’d be able to afford a new vehicle if your car is totaled tomorrow. If you can, you can feel confident about dropping your full coverage. If not, you should consider keeping your coverage as is, regardless of how a claim may impact your rate. “
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