I've bought another vehicle, which means getting car insurance for it. I did that as soon as possible so I could be driving it right away. See, in our state you have 30 days to pay the sales tax and get the vehicle licensed, but you must have car insurance before you drive the car anywhere at all, even without the tax and license being paid. I'm sure there are similar restrictions in other states, so this comes as no surprise to most of you.
The last car I bought was priced low enough that the lien holder didn't require full coverage. I wasn't making a whole lot of money then, so I got the state minimum requirement for liability insurance. The dealership where I got the car had a low cost plan in place where you could pay about $3 a month more and guarantee the car would be paid off if it was wrecked, had at least 70% damage, and the wreck wasn't your fault. I took them up on the offer, but was glad I never had to use the payoff insurance.
I got my newer vehicle from a different dealership and they don't offer that, plus the vehicle was priced higher, so I went with full coverage for it. It makes sense to me to be covered just in case, God forbid, I got in a wreck. I opted for the highest deductible so that my monthly payments would be lower. I have a pristine driving record, which helps me get a lower priced policy.
Weighing all the options makes good sense to me. I don't want to be left out on a limb, but I also don't want to be paying any more than necessary to get the coverage I need for my vehicle.
