{"id":196,"date":"2023-03-27T04:00:00","date_gmt":"2023-03-27T04:00:00","guid":{"rendered":"https:\/\/www.brockandpoole.com\/blog\/?p=196"},"modified":"2023-03-28T03:30:47","modified_gmt":"2023-03-28T03:30:47","slug":"my-car-is-old-is-full-coverage-insurance-a-waste-of-money","status":"publish","type":"post","link":"https:\/\/www.brockandpoole.com\/blog\/my-car-is-old-is-full-coverage-insurance-a-waste-of-money\/","title":{"rendered":"My car is old. Is full coverage insurance a waste of money?"},"content":{"rendered":"

Auto liability insurance is required to drive in every state legally. However, auto liability insurance is a necessary minimum insurance requirement. You may need more insurance depending on your particular situation. Typically, drivers who lease or finance their car will have to carry full coverage auto insurance. However, other circumstances may make it beneficial to carry more than just liability insurance. Our Brock and Poole Insurance Agency team can help Collierville, TN drivers determine the best insurance coverage for their unique situations. <\/p>\n

Liability vs. Comprehensive and Collision Insurance<\/strong><\/h2>\n

Auto liability insurance covers damage and injuries that others sustain when you’re found at fault for an auto accident. It will not cover any damage to your car or any injuries you sustain. This insurance expressly covers damage to other people’s property, vehicles, and personal injuries. All drivers are required to carry auto liability insurance. Conversely, comprehensive and collision coverage, often referred to as full coverage insurance, covers damage to your car, your personal injuries, and damage your vehicle may sustain from non-moving accidents or situations. <\/p>\n

My car is old. Is full coverage insurance a waste of money?<\/strong><\/h2>\n

Maybe. Once a car reaches ten to fifteen years old, it loses its value significantly. Overinsuring a vehicle, you would not be compensated for in an accident may not be the wisest way to spend your money. Typically, full coverage insurance isn’t practical once the cost of insurance is equal to or greater than the cost\/value of your car if it’s declared a total loss in an accident (totaled). You may also consider dropping full coverage insurance if you can afford to pay for your car’s repairs or may opt to buy another car if your car is totaled in an accident. If you have questions regarding how much auto insurance is best for your unique situation, call us. We’d be happy to help you explore your options. <\/p>\n","protected":false},"excerpt":{"rendered":"

Auto liability insurance is required to drive in every state legally. However, auto liability insurance is a necessary minimum insurance requirement. You may need more insurance depending on your particular situation. Typically, drivers who lease or finance their car will have to carry full coverage auto insurance. However, other circumstances may make it beneficial to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[6,8],"class_list":["post-196","post","type-post","status-publish","format-standard","hentry","category-auto-insurance","tag-brock-and-poole-insurance-agency","tag-collierville-tn"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t