How Much Insurance Should You Have For An Older Oregon Vehicle?

How Much Insurance Should You Have For An Older Oregon Vehicle?

farnsworth agency

It doesn’t matter if you’re driving an older car because, it’s a sentimental favorite that you just can’t bear to get rid of, or your car is a classic and you’re passionate about driving it, you will need Oregon car insurance for that vehicle and it’s important to know how much car insurance you should have to avoid overpaying or buying the wrong car insurance policy.

What Car Insurance Coverage Should You Have?

For a vehicle that’s paid off, and 10 years or older, you should consider only having liability only car insurance coverage and eliminating comprehensive insurance coverage because, liability coverage will cover you if you cause bodily injury or property damages to the other vehicle.

With comprehensive Oregon car insurance, you should consider eliminating this policy because, it will only pay you what your vehicle is worth, after an a car accident and the total value of what you could pay into an Oregon Car Insurance policy could ultimately exceed what your vehicle is worth over a one year period.

Know What Your Vehicle Is Worth

Before eliminating Oregon car insurance coverage it’s important to know the blue book value of your vehicle just so you’re aware of how much it’s worth in case you were to get into a car accident and your vehicle was totaled.

In many cases Oregon residents who drive older vehicles, that have high Bluebook values, should consider keeping more car insurance because, their vehicles would be too costly to replace or repair after a car accident.

For an Oregon resident to learn more about what their vehicle is worth they should utilize online resources like Kelly Blue Book, Edmunds.com or even eBay.com to see what other sellers are selling similar vehicles for.

To learn more about the latest car insurance news or to get an affordable Oregon car insurance quote, contact the Farnsworth Agency today by calling us at (541) 318-8835. 

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