So you live in California, you’re young, and you drive an old beater car. In California, auto insurance is mandatory, so if you want to drive, you have to bite the bullet and buy auto insurance. But how much auto insurance do you get if you don’t have a lot of money on hand? Most states require drivers to purchase at least the minimum amount of car insurance for their vehicles. If you are young and don’t have a lot of money at your disposal, auto insurance can be a hefty expense, so naturally you want to cut as many costs as you can. If you drive an old vehicle, it may be prudent to purchase the minimum amount of auto insurance … as long as you make some decisions about what is most important to protect with the premium that you can afford.
Your first step in determining the amount of auto insurance you need is to find out how much your car is worth and how much money you would need to replace it if you got into an accident. Kelley Blue Book is an excellent source for determining the worth of your vehicle. The Kelly Blue Book website will show you the estimated value of your car and estimated private sale value.
Let’s say that your car is only worth $1,500. If you are in a fender bender, chances are that fixing the car is not going to be worth it. Likely the cost to repair your bumper will overshadow what the car’s value is. If you have a $1,500 deductible, there is also no point in fixing the vehicle. It’s prudent to opt out of covering your car in the case of an accident. However, it is not prudent to opt out of covering yourself! You want to have enough coverage that you can cover other damages that may occur as a result of the accident: bodily injury (yourself and others) or another person’s vehicle or any other property that is damaged during the accident. Be sure that you have both bodily injury liability and property damage liability covered.
It is imperative that your auto insurance covers you and any passengers who may be injured in an accident. Medical expenses can be overwhelming … a huge expense if you don’t have adequate insurance. If you are lucky enough to have health insurance, it may cover some of these costs; however, your health insurance won’t cover any wages you may lose as a result of being hospitalized and unable to work. You can add medical coverage, underinsured/uninsured motorist protection, and personal injury protection to your California auto insurance to cover some of these expenses. Underinsured/uninsured motorist protection is especially important in case you are injured by a driver driving without auto insurance.
Get an INSTANT free California auto insurance quote. CHEAP Insurance offers personal auto, commercial, trailer, cycle, watercraft, home, and renter policies. With access to hundreds of Insurance Companies, we can find the right insurance to fit your budget. Make your insurance purchase online at http://www.cheapinsurance.com/ over the phone at 916.485.6969 (or toll-free 800.486.1866), or visit us at 8928 Volunteer Lane, Suite 210, Sacramento, CA.
Insuring Your Old Beater in California