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Are you trying to save money on your auto insurance?  I am sure you have already seen several articles that may tell you to remove coverage such as comp or collision.  Yes it is true, one of the many ways to save money is to remove coverage.  Some of the most popular recommendations to self insure once your car is paid off is by removing comprehensive and collision coverage.  The question then becomes is this form of self insuring a good idea?

Let's take a look at collision coverage and see if it is a good idea or not.  Collision coverage does not only cover you for when you cause a collision or accident.  It also covers you when you are in an accident with someone else who is uninsured or under-insured.  That surprising time where wait a minute you think you are going to be covered but somehow it just did not happen.  So when considering removing this coverage first consider how much will it cost to replace or rebuild your car?  For instance if you pay your car off, it does not mean that it is worth only $500.  It may still cost a good chunk of change to replace it.  So the other question we have to ask when thinking about this.  If the unexpected happens am I okay with forking out ______ dollars to replace my car if I do not have coverage.  Where will that money come from? 

While there are many things to consider when looking at changing coverages these two thoughts will get you started in the right direction.  For more on getting the best deal on auto insurance in Minnesota call the Garsys Agency at 866-432-4753 today!
Posted 2:01 PM

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