You buy insurance to cover (indemnify) you in case of a loss. You don't ever want to pay more for insurance than the property you are protecting. If it costs you $100 in Comprehensive premium plus you have to pay your deductible ($100 to $500), then you would hope that your car is worth more than that expense. Every decision is unique so we cannot put a dollar amount on the vehicle for all situations. In this scenario, you are paying $200 to $600 to get indemnified for your car.

As an agent, I always recommend to keep the most coverage that you can afford. Now that may sound like a car salesman trying to sell you the most expensive car in the lot, but it is simple and true.

Reviewed your physical damage costs and the value of your vehicle. Determine if the amount you are paying gives you these benefits:

• If you were in a fender bender, it would cost the deductible, plus what is paid in premium to get the car repaired.
• If the car was totaled, you would get a check for the fair market value of the vehicle minus the deductible.
• Without the coverage, can you be out the full value of the vehicle?

You should research your car's value and see if the value of your car is worth losing these benefits of physical damage coverage (Comprehensive is one component of Physical Damage coverage).

You should buy as much insurance as you can afford. Follow this link to learn more about auto insurance coverage.