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You should only drop the physical damage part of your insurance if your vehicle is paid for in full and when you no longer would need help replacing or repairing the vehicle if a claim occurs. Also you could say that when the price of the physical damage coverage exceeds the benefit of replacing the value of the vehicle.
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Do the laws about car insurance North Carolina say I have to have insurance on my car?
In most states, including North Carolina, you still have to maintain some form of car insurance coverage. If the car is paid off you can drop your policy from full coverage to liability insurance.
How long do I need full insurance coverage on a financed vehicle?
In California, anyway, you need full insurance coverage on a car the whole time it is financed. After its paid off, you can drop a bunch of the coverage and just carry liability.
Can a car be repossessed because of no collision insurance when standard insurance was active on the car?
If your contract requires full coverage and you do not have full coverage, you are in violation of the contract.
Does car insurance in Indiana reimburse you for hail damage?
Yes, you will be reimbursed if you have full coverage on your car. If you do not have full coverage then you will not be covered.
How old can a car be and full coverage insurance?
There is no age limit although the value of the car may not justify the cost of full coverage.
Do you need full coverage insurance if your car is 5 years old?
Full coverage requirements have nothing to do with the age of the car. If you still make payments on the car then you still have to have full coverage. If you own the car outright, then you do not have to have it.
If you have full coverage insurance and a person who is not licensed gets into an accident in your vehicle can insurance cover your car damage?
Yes.Thats what full coverage covers
Can you put full coverage insurance on a car with a salvage title car in Georgia?
I know of no insurance company in any U.S. sate that will give you full coverage on a salvaged vehicle.
How does full coverage insurance pay offs work?
Full coverage insurance will help you get your car fixed after it has been wrecked. You can also get a new car if it has been completely totaled.
Do I Need Full Car Insurance In Colorado?
If the car is paid off, then only liability insurance is needed. If it is not, then you will need a full insurance coverage plan.
Can you buy full coverage car insurance without liability?
No
Do car insurance Nebraska laws require me to have full coverage insurance?
In Nebraska, you're actually not required to have full coverage. You'll only need to have minimum liability insurance.
