Having only liability on your vehicle does have some risks. Liability only means your insurance will only cover the costs for the other cars in the event you cause an accident. You will have to pay to repair or replace your vehicle on your own. The policy may also limit what the insurance company will pay the other driver and that means you may have to pay out of pocket to fix the other driver’s vehicle and any damage caused in the accident.
Another thing to consider if you only have liability on your car is that you won’t have comprehensive damage repair. Comprehensive damage includes weather damage, such as hail or flood, or a rock hitting your windshield. If you have only liability and hit a deer, you will be responsible for fixing your car. When deciding whether to go with liability only, you need to consider the cost of repairing your vehicle out of pocket.
When it’s time to purchase or update your car insurance, liability only may seem like a great deal since it is so much cheaper. If your car is only worth a small amount of money, or if you have a large savings, liability may be the way to go. However, if you can’t afford to replace your car or pay for repairs, it may be worth it to pay the extra each month and keep more insurance coverage on your vehicle.