Am I better off dropping all my car insurance except liability at this point?

As long as you have enough cash laid back to assist you in replacing the vehicle if you have an accident of your own or another driver with no insurance hits your vehicle, then go ahead and drop the comprehensive insurance.

As long as you plan to throw it away if someone hits you, Just pay the liability.

" if I got just liability it would probably be $300-400"

You're guessing. Until you know for sure, don't change anything. My guess is that you've got it completely backward. The required liability portion probably costs about $1600 and the optional comprehensive collision coverage is only $400 additional. That's the way it is for most people.

And if you think it's "dumb" to pay that much, try dropping your insurance altogether then getting into an accident where you seriously injure or kill several people and you're on the hook for a couple hundred thousand bucks of liability.

I would just have liability on it, no sense in wasting your money.

Its your gamble - how much can you afford yo gamble possibly using losing the whole value in an accident that is your fault.

I wouldn't, and don't. I own two vehicles older than yours and carry collision and comprehensive on both.

Why. Because if some unknown or uninsured motorist plows into the vehicle and totals it I will get paid for their full value. With only liability, I would not get a penny.

Plus, liability is generally as much or more that collision and comprehensive combined.

It depends on your driving habits. If you don't get distracted and keep you

Mind on the road while driving I would just buy liability. If you text and chat

On the phone or eat or play with the stereo or look at girls while driving keep

The full coverage. Your a car crash waiting to happen. How big of a risk are

You? Think about it.

No, it won't drop that much if you remove Collision coverage. Find out what it will actually cost before you make the decision, your broker / agent / whatever will tell you if you ask them.

Once your finance contract is complete, whether or not you carry Collision coverage is entirely your decision. To make that decision, ask yourself this: If your car is heavily damaged in a collision type of loss (at fault accident, hit & run damage, etc), can you personally absorb the cost of repairing or replacing it? And when you answer that question, answer honestly. Don't just tell yourself what you want to hear, and don't fool yourself into thinking you just won't get into any accidents.

Also, you need to know something before you remove your optional coverage. Accidents don't usually happen at the worst possible time and place, they always (no exceptions) happen at the worst possible time and place. I can't count the number of people who removed their Collision coverage and then smoked their car in an accident within six months. It's as if the mighty and whimsical luck gods watch everyone's insurance policies.

Probably. Especially if your deductible is high, but maybe even if it's not.

One exception would be if you expect the car to get stolen or crash soon.

No, it is not half, but about 1/3 of the value. Can you just go out and buy another vehicle? Granted that amount may only be a decent (down payment) on another financed car, or could buy another of the same value.

But when I saw $300-400 per year for liability only, that tells me, most likely you have the MINIMUM coverage for liability. That is where you should be worried.

Do you realize that whatever the limits are and (if) you don’t have enough they can sue YOU, if you are found at fault for an accident, if that amount is (not) enough to pay for vehicle damage and injuries. .

I am paying roughly $600 a year for (full) coverage on a vehicle that is worth like yours only $5,000, but my liability limits are ½ a million, which is my biggest concern vs. paying for my car.

You need to talk to a (real) agent for advice. My guess if you decide to take off the collision and comprehensive on your policy will see that you do (not) have enough liability coverage to protect YOU from being sued, if found at fault for an accident.