Best Answer – Chosen by Voters You need to get what's called "Comprehensive" insurance and also what's called "gap insurance" and that should cover it all.

It really depends on the age and value of the car.If you are driving a car that you couldn't easily replace if it got totaled then keep the full coverage insurance. That is what it's for.But if you are driving around a car that you could replace at low cost then why pay for all that coverage. The money you save on insurance could be used to purchase a replacement car if it gets wrecked. In other words, why pay $2400 a year for full coverage insurance on a car that is only worth $5000. But if your car is worth $20,000 then spending $2400 for replacement coverage is a pretty smart plan.Keep the insurance costs in line with the value of the vehicle.

I've never seen replacement insurance for a car. The best you would ordinarily get is blue book value. I had full coverage until my car was 7 or 8 years old and then dropped collision as the blue book value was fairly low. My parents, on the other hand, kept collision on their Marquis until it was 10 because it held its value so high. So, depends on your car AND I might add your finances. Could you afford to suddenly replace your car?My current 10 year old van has collision for at least another year due to the high blue book value.

without knowing what kind of car it is, it is purely a judgment call…my wife's car is a 2008 jeep liberty we paid cash for, and i keep full coverage on that, simply because it is only 2 yrs old. My truck is a 92 silverado, and I just keep basic coverage on it, without the comprehensive… I've gotten my miles out of it, and it is paid for so if it gets totaled, I am not out much,.My toy is an '85 buick grand national, I am in the process of rebuilding. It never gets driven so it has what my insurance man calls collectors car coverage,,, we agreed on a value for the car, and that is what the car is insured for. If anything happens to it, the ins co sends me a check for the full value.

full coverage for sure as far as insurance to buy a car of equal quality…..good luck with that, the best you are gong to do is get what the insurance company says your car is worth. Sometimes but not often this works in your favor but most of the time you will have to put money with it to get the same quality car as what you had Source(s): been there

I always get full coverage. It may seem expensive, but it pays off if the car is totaled. Because of the quality of your car, this is the way to go. Of course of you drove a beater, that was worth very little, I would recommend less insurance.