The Insurance My Car Needs, The Insurance My Car Deserves

Post date: 2018-11-10 04:52:01

I have a 2007 Toyota Prius. Is it still financially worthwhile for me to have comprehensive insurance for it?

My insurance premium is about $1300 for a year. That, to me, seems ridiculous. I really would like to be paying less on car insurance, so I've been considering dropping the comprehensive coverage on it.... Since the car is so old at this point, it seems like maybe the comprehensive coverage isn't actually worthwhile anymore. Maybe? I don't really understand the financial implications of my car's age, and how to determine when or how comprehensive coverage is worth it.

Is comprehensive coverage always a good thing to have on your car? Or is there a point, given your car's age, when it is no longer worthwhile? Or could I be completely backwards, and is comprehensive coverage even more valuable, the older the car gets?

Please help me understand what's in my own financial best interest. Thanks!

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