Milledgeville, Georgia
1947 N Jefferson St.
Milledgeville, GA 31061
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Here’s When to Switch to Liability-Only Auto Insurance April 24, 2017

Milledgeville, Baldwin
Here’s When to Switch to Liability-Only Auto Insurance, Milledgeville, Georgia

Switching to a liability-only auto insurance policy can save you hundreds of dollars per year, but for many car owners, it’s not a safe strategy. According to the owner of Craig Massee Insurance Agency in Milledgeville, GA, making the switch before the time is right can be disastrous. Below is his guide to knowing when to call your insurance company to make the change and save big bucks without putting yourself, or your property, in danger.

What’s the Difference Between Insurance Types?

auto-insuranceLiability-only auto insurance protects you from legal damages in case of an accident. Comprehensive insurance policies, on the other hand, also protect from collision damage so that you will be reimbursed for necessary repairs.

When Is It Safe to Switch?

As a basic rule, once your car has less value than the cost of a big repair job, collision coverage is no longer worth it. If accident damages could easily cost the same as or more than the value of the car itself, it makes sense to save money with liability-only auto insurance. That way, instead of paying every month for a level of insurance that costs more than the value you’d get back, you can save money for a down payment on a new car.

What if I Switch Too Early?

The time to switch to liability-only auto insurance policies comes down to your personal judgment. Craig Massee Insurance Agency recommends switching when the car’s practical resale value drops below $5,000 to $5,500. At this point, any repair job beyond $4,000 will basically count as a loss. It all depends on how much risk you’re willing to take of an accident happening before you replace your car.

Call (478) 452-3539 to talk to a rep at Craig Massee Insurance Agency for even more money-saving tips and free insurance quotes. Their agents are experienced and knowledgeable, and they are determined to get you the coverage you need for the lowest price they can find. Visit them online for more information on their services and 45-year history in the Milledgeville community.

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