- You are required by your state to carry only a minimum liability policy. This is the cheapest policy you can purchase for your automobile. Liability insurance covers an accident that is your fault so you won't pay to have damage repaired for other people's property. You'll save money choosing this policy.
- A comprehensive policy covers your vehicle in the event of an accident caused by an event other than collision, such as damage caused by nature or animal impact. This coverage is usually a few dollars more in comparison to liability and can save you money should an event occur. Collision insurance includes comprehensive, and covers both your vehicle and damage caused to others or property so you don't have to pay yourself. Policy add-ons have the potential of saving you a lot money if you do have an accident.
- Carry as much car insurance as you can afford. If you don't need collision coverage (often unnecessary and expensive for older vehicles), add a comprehensive policy to your coverage. You can also increase your state limits. For example, choose coverage of $100,000 per accident even if your state requires only $50,000 in coverage. Talk to your insurance provider to compare costs. If you need the policy coverage because of a serious accident, the difference in payment is worth it.
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