When Should I Drop Collision or Comprehensive Coverage on an Older Car?

As your vehicle ages, you may wonder if it still makes sense to carry collision or comprehensive coverage on your auto insurance policy. Shelby Insurance Agency can help you weigh the pros and cons to make an informed decision that fits your needs and budget.

Key Factors to Consider

Before you make any changes to your policy, take a look at the following:

• Your car’s current market value: Check what your vehicle would sell for today, not what you paid for it.
• Your deductible: If your deductible is close to, exceeds, or is a significant percentage of the car’s value, a claim may pay out very little after you cover your portion.
• Your financial situation: Could you replace or repair the vehicle out of pocket if it were totaled or stolen? If not, dropping coverage may carry a significant financial risk.
• Your driving habits: High-mileage commuters may face more exposure than someone who drives occasionally.

How We Can Help

We can help you review your policy, discuss your options, and help you find the right balance between coverage and savings. We understand the needs of drivers in Hemphill, TX and can guide you through every step of the decision-making process.

Contact us today to discuss your options and request a quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.