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Liability or Full Coverage?

822 Views 4 Replies 5 Participants Last post by  bahearn
Hey guys, my insurance agency told me that its dumb to have full coverage on a car 7 years or older. What do you guys think on this? I'm looking into buying a 97 mitsu eclipse GST or a 97 prelude.
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Full-coverage makes sense only if someone else's money paid for the car, like a bank. They will require full-coverage to protect their collateral. Once it's paid for and the title is in your hands, the resale value isn't usually enough to warrant the expense. Now, if you paid off BMW 750, you would probably want to maintain full coverage. For your Mitsu, what's the point?
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