A lot of well-meaning people will tell you that, if your car is paid off and not worth very much, you should drop full coverage and only carry the mininum required by law. They will tell you to think about all the money you can save when you have a lower insurance premium.

Those people mean well, but they are basing their advice on the fact that you won’t be able to recover very much of the value of your own vehicle if you are in an accident. That is true, but there are other reasons keeping full coverage through The Shay Agency could save you in the long run.

Minimum Coverage

If you live in Wilkes-Barre, PA, you are mainly required to carry liability coverage. If you are at fault in an accident and only have minimal coverage, the maximum amount your insurance will pay out to cover damages is $5,000 for property damage and $15,000 for bodily injury, with a total of $30,000 for each accident for bodily injuries.

You will also need to carry uninsured and underinsured, in case the other driver isn’t properly insured but causes the accident.

What You Will Be Missing

You probably noticed right away that those policy limits wouldn’t be enough unless the accident was relatively minor. Anything insurance doesn’t pay you would still owe, if the accident was your fault.

If you keep your collision and comprehensive insurance, you are still protected in single car accidents where the damage was to a fence or a pole. You can also get roadside assistance, rental car coverage and other extras.

If you live in Wilkes-Barre, PA and you’re thinking about dropping full coverage, or if you’re thinking about adding it, call The Shay Agency so we can find a policy that fits your individual needs.