car insurance

[rbalonis]

when do you stop paying full coverage for your car that is payed for??

[patti4me]

lol  I may be throwing money away but I have a 1999 Tahoe that I still have full coverage on and its been paid for for years.  I'm just hesitant to drop the full coverage as there are so many ppl out there with no car insurance at all!!  I know cause one with no ins. totalled a cadilac of mine several years back.  He was drunk and flying down the road like a maniac.  I tried to avoid him but that didn't work.  Anyway, if I had just had liability I wouldn't have gotten that car replaced. 

[dauna]

Keep in mind that If your car is totaled and you have coverage for physical damage (and it's something you have to fix or replace yourself and not due to someone else's fault) what you receive is the actual cash value of the vehicle at the time the incident occurred minus your deductible.

Now--keep in mind too that if your car is damaged or totaled and all you have is liability coverage that you will have to repair/replace out of your own pocket.  So whether or not you keep or remove full coverage will depend on how valuable a vehicle is and how willing and able your are to carry the coverage and pay the deductible if something happens vs how willing and able you are to take care of it all out of your own pocket.  Each situation is different, and each auto owner has to make up his/her own mind about it.  I have a 2001 Kia Sephia, and that is likely less valued that a 2001 Mercedes.  And, yes, it is now insured for liability only.