Tag: vehicle value

Liability insurance is typically mandatory, but lenders often require collision and comprehensive coverage. While these “full-coverage” options protect your vehicle in accidents, theft, or damage, they significantly increase premiums, which have risen over 20% recently. Dropping them can save money, but is generally not recommended unless your car’s value is low, you have a substantial emergency fund, or you aren’t driving the vehicle. Collision coverage addresses damage from accidents, while comprehensive covers other incidents like theft