If you buy a car in full do you need to have collision coverage in your car insurance?

20Dec2007 Filed under: Used Cars Author: admin

jaehoppa asked:

If you buy the car in full (pay for the car at once, not lease or financed) do you need to have collision coverage?
If I get into an accident with somebody, wouldn’t the other person’s insurance pay for my car’s damage?
I’m planning to buy a used car for $17000 (paying in full) should I get collision coverage?
also somebody explain Liability and full coverage for me (I guess full coverage is selecting every coverage when you lease for finance your car).

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7 Responses to “If you buy a car in full do you need to have collision coverage in your car insurance?”

Sparkles
December 23rd, 2007 at 5:55 am

Buying a car and paying $1700 in full for it only requires you to have liability insurance. Save the money and put it in the bank that you would be paying for the collision insurance. Your car would be depreciating, and if you did have an accident, you would have the cash to pay for another one from the money you saved instead of throwing it away on a car that is worth $1700 and depreciating.
pamela d
December 23rd, 2007 at 3:03 pm

lf lt`s a brand new car well yes you should get collision on lt.
bigsportsnut2
December 24th, 2007 at 3:03 am

in liabiltity if the accident is your fault they will fix the other persons car and not yours.if you have full coverage if its your fault you will only have to pay the deductible and they will fix your car.also if the person at fault didnt have insurance or was underinsured you could still get your car fixed.if the car is bought and payed for you dont have to have full coverage as longs as you are willing to take the chance you wont be in an accident
Fred C
December 24th, 2007 at 8:07 pm

The other person’s insurance pays for damage to your car if an accident is the other person’s fault. Hit a tree, slide off the road, have your car vanadalized or stolen, you need your own insurance, unless you can afford to turn around and buy another car out of your pocket.
john_brinkl
December 25th, 2007 at 5:41 pm

In a wreck if the other person is charged with it there insurace will pay for it that is assuming they have insurance.I would just save the money you would spend on collision.
DERECK A
December 28th, 2007 at 11:53 am

as long as you are not financing or leasing the car, you need to have at least a liability insurance by law. with a liability insurance in case of an accident and you are at fault, your insurance company will fix the other persons car or pay for the damages and medial bills. your car does not get fix and your medical bills does not get paid. if its not your fault then the other persons’ insurance company is suppose to pay for the damages of your car. now if you have a full coverage and you get into an accident and its your fault, your insurance company will fix both you and ther other persons car but you have to pay a deductibles usually 500 to 1000 dollars depending on the insurance company and your credit.
scsriver
December 29th, 2007 at 10:23 am

No if you don’t want unless your state say you have to have it.
You will have to have Liabillity aganst the other person.
and your riders. But for 17,000.00 i think i would get it.
Full coverage INS. is both plus it will fix your car if the other
person don’t have any.
The States says that you have to have liabillity. THE OTHER PERSON.

Collision is just to fix your car. Hope this help you.