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How should I determine what kind of car insurance to buy in case of a car accident?

Tucson, AZ |

I'm buying a used car that isn't worth a whole lot - just $5200 - and would like to know how much coverage I should get. If I get full coverage, will I be paying too much for what the car is worth, if I should get in an accident?


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Attorney Answers 3

Posted

Talk to an insurance sales agent. Lose the term "full coverage" as it is meaningless, IMHO.
Your main concern should be liability should you be at fault in an accident. You also want to be sure that you are adequately covered as to under and uninsured operators. AZ may limit that amount to your liabiity coverage.

The above is not intended as legal advice. The response does not constitute the creation of an attorney client relationship as this forum does not provide for a confidential communication.

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Posted

In your case, the coverage should be about protecting you and not necessarily your car. The more liability the coverage you have the more you're protected from personal liability. If you're at fault in an accident, you're personally liable for whatever your insurance doesn't cover. I never advise getting the basic minimal coverage, especially if you have assets.

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Posted

Damage to your car is covered by collision/comprehensive coverage. When you own a low value car, you may decide that collision/comprehensive coverage is more expensive than is justified by the risk you are insuring against (damage to your car). The decision on collision/comprehensive coverage and the deductible amount is simply a cost v. benefit analysis. However, the more important issue is making sure you are covered for the damage/injuries you cause to others (liability coverage) and for the damage/injuries others cause to you (uninsured/underinsured/medical payments coverage). Make sure you talk with an insurance agent about what coverage limits are appropriate for your financial status.

Disclaimer - We have not created an attorney/client relationship. Please do not consider this legal advice addressing your specific case.

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