Car insurance rates and metaphorical sodomy

[Jake]

I really need to shop around for full coverage. I know eventually something stupid is going to happen, plus I feel like $114 a month is a lot for just liability.

Sent from my SM-N950U using Tapatalk

That is definitely a lot, although some of the cost (compared to, say, Matthew's Fit) is the cost of repair. I'm guessing body panels and various bits of a Mini are generally more costly than a Honda. 

I was pretty staunchly "liability only on cheap old cars" until I had the white E36 convertible. Old cars are cheap, save the money you would spend to have full coverage and just fix it if it breaks or is hit, right? A friend of mine got run into in his E36 M3 in a parking lot and it was totaled... he got a bigger check than he thought. 

Anyway, I upped my coverage on the white car - keep in mind, this was a $2500 BMW that had a Total Loss marking on the Carfax but had a clean title. When I hydrolocked it in the OBX, Geico covered it under flood damage, given there was only the one road out of the OBX and it was flooded, thus impassable. I got a check for double what I paid for that car. I also easily had the car towed to a shop in Richmond due to my towing coverage, and could have had a rental car while it was either being inspected or repaired.

Long story short - the extra cost for full coverage is probably worth it, even on an older, paid-for car, otherwise you could be fairly SOL. When I drive that 15-year-old Ranger home in a few weeks, it'll have full coverage just as a CYA.