In another thread I was slammed for having the minimum car insurance and being ignorant. The person saying so even berated me for not having comp and collision, which last time I looked covers the policy holder only.
I have the minimum because I have a 14 year old Honda which I rarely drive, averaging 10 miles a week in a rural town. Anyone paying for C&C on an older car is throwing money away, so the issue is really about liability. I use my 92 year old dad's car often, which has plenty of coverage. The required liability in my state is adequate. If someone sues me for more, they will get my share of a very valuable piece of land - fine, they are covered. I and my dad meanwhile live on SS very frugally. I don't have accidents or violations. I know 'most accidents occur a few miles from home' but that includes all the people backing out of their driveways, and I don't find it meaningful anyway, since most driving is close to home. I think I made a reasonable and informed choice, and it costs me <$300 YEAR. Years past I had plenty more liability as needed for the situation, but never C&C because I always buy older cars. My older sister and her husband, who have far more assets but who are also retired, have the minimum also, and they pay even less in their state.

I would like to hear from others. The person yelling at me not only was wrong about C&C, but was really nasty (and a site moderator wrote an agreeing comment under that response)!

In another thread I was slammed for having the minimum car insurance and being ignorant.Hello j:

If the minimum is all that the law requires of you, you're doing just fine. If you have NO assets to protect, WHY in the world would you buy MORE insurance that protects OTHER people and not yourselves?? Some people's kids.

excon

I went in search of the thread you mentioned, joy. We up here in Canada only carry the minimum because of costs. I have deductible which is $500. I am on the road every day with my job from client to client, but actually all in town and rarely far affield. What you want to carry in order just to say solvent and be mobile is your own business.

I agree with exxy.

Tick

Thanks I feel better

Thanks. I do have the land asset, but whoever I injure can have it if they deserve it.

I agree about the collision - the cost to repair is probably more than the car is worth, and given a reasonable deductible of $500 probably not worth it. Comprehensive is pretty inexpensive - if you don't carry it you're basically saying you can come up with the cash to buy an equivalent car if you had to. The amount of liability to carry depends on your assets - if you have investments, an IRA, a house, or valuable personal property you want to make sure they're protected. But if not - then go with the minimum.