Posts Tagged purchase car
When to Drop Collision Coverage on an Older Vehicle
When you purchase car insurance, one option available to you is to buy collision coverage in addition to the minimum insurance requirements for your state. Collision coverage is unique because it insures your car and yours alone if you are in an accident. Another type of coverage, known as liability insurance, covers damage done to another driver’s car if you are at fault (this type is mandatory). If you are in an accident that results in costly repairs, collision coverage can save you a lot of money by paying the total cost of all of your repairs, minus your deductible. As a car ages, however, collision insurance becomes less valuable and may eventually end up costing you more money than it is worth.
How Collision Coverage Works
Tags: car value, collision, insurance, purchase car, r cars, vehicleRelated posts
