What is the least amount of car insurance I need to have on a car that doesn’t have a loan on it?
Related posts:
Category: Insurance Registration 6 comments »
6 Responses to “What is the least amount of car insurance I need to have on a car that doesn’t have a loan on it?”
Leave a Reply
You must be logged in to post a comment.
January 31st, 2010 at 7:32 am
Content supplied by UK Yahoo Answers
Call your local insurance agent and tell him you want the basic liability auto policy for your car. This will cover any damage you are at fault for but will not cover your car.
February 3rd, 2010 at 6:17 am
Content supplied by UK Yahoo Answers
You should qualify for liablity insurance instead of full coverage. The actaul amount of insurance depends on what your car is worth right now, how old it is, your past driving record and your hi risk lable will definately have an effect. You’ll have to get quoted at a few different places to be sure what company has the lowest rate for you.
February 3rd, 2010 at 6:19 am
Content supplied by UK Yahoo Answers
What you are asking for is basic liability insurance. It covers your for your liability in an auto accident but does not cover your car. If you are going to be added to your husbands policy eventually, you want to be sure that you have the same liability limits as him.
I would suggest 100/300/100. It’s not too much more expensive than basic liability but it’s definately worth it. Minimum liability in your state is 25/50/10. That means the MOST that the insurance company will pay out if there is a loss is $25,000 per person, $50,000 per accident and $10,000 for property damage.
So basically, if you hit an expensive car, or more than one car, the insurance company will only pay $10,000 for the damage to the vehicles you hit. Also, if someone sues you, they will only pay $25k per person at a max of $50k. That’s not very much at all. Getting 100/300/100 is definately worth it. Plus, there are many insurance companies that wont even give you insurance if you dont have at least 100/300/100 as previous insurance.
PS in your state, iIf you have no insurance, you are required to show financial responsibility. This basically means that you have to prove to the DMV that you have at least $60k cash at any time. If you do not provide the department of motor vehicles with that proof… then Yes, you are required by law to carry insurance.
Hope this helps!
February 5th, 2010 at 3:44 am
Content supplied by UK Yahoo Answers
Whatever WI state minimum liability limits are. Comp collision are extra.
February 5th, 2010 at 1:10 pm
Content supplied by UK Yahoo Answers
I love Wisconsin, you don’t need to register your vehicle, you can drive a car with any plate(tag), you don’t have to have insurance… Just nice but the insurance companies might not be as easy as the dmv. Call them and ask but 6 months it’s not enough to clean 4 years off your record
Why are you getting insurance anyways… it’s not required BY THE law…
February 7th, 2010 at 1:03 pm
Content supplied by UK Yahoo Answers
If you are trying to save money, The smartest thing to do would not have comp/collision, but have GOOD liability limits, say if you start a chain reaction accident, you rear end a car and it pushes that car into more cars – your minimum property damage limits will be GONE, even worse if you injure someone, – and you and your husband will be in big trouble as you will have to pay out of pocket when the other insurance companys come after you for what they paid out – people always think they are saving money, but belive me, I am a claim rep and I see the aftermath, it is a disaster when you do not have high enough limits