It has been five or six long years of monthly car payments. You have finally paid off your vehicle. That is a significant relief, and it is saving you a lot of money. You may be wondering if you can save even more money by dropping your car insurance. The simple answer to this question is no. You can not get rid of all your auto insurance coverage. Wisconsin has minimum auto insurance requirements. At Johnsen Insurance in Baraboo, WI, our agency was founded in 1965, and we make sure all our customers are compliant with the law.
In Wisconsin, you are required to carry liability and uninsured motorist insurance. This protects other people from you to the tune of at least $25,000 per person with a max of $50,000 for each accident. $10,000 in damage to property must also be included. The same 25/50 is required in uninsured motorist coverage.
Depending on the value of your vehicle, this may be enough. But, if you were in an accident where you are fully or partially at fault, would you be able to pay to repair or replace your vehicle? This is a hardship for most people, and living without a vehicle is not an option. With Collision coverage, your insurance pays to repair or replace your car after the deductible is paid.
Other things can damage or destroy your vehicle. Comprehensive coverage protects against things like storms, theft, vandalism, and other hazards beyond your control. Glass coverage is something most people count on.
You may not be required to carry additional insurance beyond liability, but that doesn’t mean it is a good idea to do without it. Why not give us a call or stop by the office of Johnsen Insurance in Baraboo, WI and let us give you a quote.
