Summary
Consider your needs in light of your assets and income. How much can you afford to pay if there's a big judgment against you because of an accident? What about deductibles? Deductibles lower your premiums, most commonly for collision and comprehensive coverages, but increase the amount of loss that comes out of your pocket. How much additional risk are you willing to take in order to save? Should you carry collision and comprehensive coverage? As your car's value decreases, you might consider dropping these coverages and pocketing the savings on premiums. But consider if the savings are enough to offset the risk of footing the entire cost of repairing or replacing your car.
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Extract
Shopping for Auto Insurance
Whether you're a first time buyer of auto insurance or already have it but are looking for a better deal, you shoul...
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