Do you need comprehensive and collision on a auto policy?

Answer 1

This really depends. For example- John has a 1992 Toyota Corolla. The car is worth about 2000 dollars. He has no lien or lease on it. He doesn't need comp or collision.

Mary has a 2009 Toyota 4runner, its brand new, low miles and has a lien on it. Since she has a lien on it, she is required to have comp and coll. Also considering the car is worth 20,000k she would be crazy not have it.

At certain points you will find that their will be an in-between type of time where the car is paid off, but it also worth some money still. At this point you will have to way your options. Does having comp or coll add up over time to be the best way to go? Or should I take my chances and do away with it to save money? At this time, this is up to you to make the call.