I went with liability only for my first car too, mainly because it was a 15-year-old Civic that already had a few dents. Here’s how I looked at it: first, I checked the car’s value—if your payout wouldn’t be much after the deductible, full coverage just didn’t seem worth it. Then I figured out what I could actually afford to lose. Like you, I kept a small “car emergency” fund in case something major happened. Never needed it, but having that backup made skipping full coverage less stressful. Sometimes you just have to weigh the odds and your own comfort level...
Yeah, I did something similar with my first car—liability only, since it was already pretty beat up. Here’s how I broke it down:
- Looked at my driving record (not great, honestly), so my premiums for full coverage were way higher than average.
- Ran the numbers on what I’d actually get if the car was totaled. After the deductible, it barely covered anything.
- Factored in my risk tolerance. I drive a lot in busy areas, so I kept a bigger emergency fund just in case.
One thing I’d add: if you’re a higher-risk driver, sometimes liability is the only thing that makes sense financially, even if it feels a bit risky. Just gotta be realistic about what you can handle if the worst happens...
Yeah, I did something similar with my first car—liability only, since it was already pretty beat up. Here’s how I broke it down:- Looked at my driving record (not great, honestly), so my prem...
Makes sense. For older cars, liability is usually the only practical option—especially if, like you said, full coverage barely pays out after the deductible. I’d just add that people often forget about uninsured motorist coverage. Even with liability only, it’s worth considering since not everyone out there is insured or responsible. Seen too many folks skip it and regret it later. Otherwise, your approach checks out—no reason to overpay for coverage you’ll never use on a beater.
Honestly, I get the logic, but I went full coverage on my old Civic just for peace of mind. Yeah, it cost more than the car was worth, but after my cousin’s “mystery tree branch” incident, I got paranoid. Sometimes overpaying means sleeping better... even if my bank account cries a little.
I totally get where you’re coming from. I’ve seen folks regret skipping full coverage after a random hailstorm or, yeah, the classic “tree branch outta nowhere.” One guy I worked with had a 15-year-old Corolla and figured liability was enough—then a deer totaled it and he got nothing. Sometimes the extra cost stings, but that peace of mind is real. It’s not always about the car’s value, honestly... sometimes it’s just about not having to stress every time there’s a thunderstorm.