Why would I need full coverage on a 15-year-old car?

I am insuring my mom's 2006 Honda Civic and she's insisting that it needs full coverage. Why would a car that old need to have full coverage?

“Insuring a 15-year-old car with full coverage car insurance isn’t recommended for most people. In general, you don’t want to have full coverage car insurance if it doesn’t fit the 10% rule. The 10% rule states that if the annual costs of full coverage car insurance is more than 10% of the value of your vehicle, it’s probably not worth the money.
However, it’s all dependent on your financial situation or your mother’s financial situation. If your mom wants her vehicle insured with full coverage, it may be because she wants to keep the additional protection on it. While the cost of collision insurance and comprehensive insurance may outweigh its value, it’d at least pay out for repairs or the actual cash value if totaled.
Since you are insuring her car, you can see what the cost of coverage would be and compare this to the value of the vehicle found on sites like Kelley Blue Book.
From there, you can compare whether full coverage is worth it. You may be able to convince her otherwise if you show her the cost of coverage versus her vehicle’s value. Furthermore, you can show her rates for full coverage vs. liability when you sign up for Jerry. In just minutes, you can help her make the right policy decision and even pull the trigger on a new policy.”
Emily Maracle
Answered on Sep 10, 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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