2012 Highlander , Minimum coverage?

[soccerluvof4]

Just curious what most would suggest. We have a 2012 Toyota Highlander with 102k miles on it that we only use to tow things around once in awhile, use as third car, drive on bad days in winter, and we just want to keep it for now as in two years more kids will be driving. So my question is simply at this point should i put minimum coverage on it? Yes we could afford to make damage repairs if something happened. I just put all new brakes, rotors and new windshield on and went through everything so hoping it lasts another 10 years.

[CoffeeR]

Just curious what most would suggest. We have a 2012 Toyota Highlander with 102k miles on it that we only use to tow things around once in awhile, use as third car, drive on bad days in winter, and we just want to keep it for now as in two years more kids will be driving. So my question is simply at this point should i put minimum coverage on it? Yes we could afford to make damage repairs if something happened. I just put all new brakes, rotors and new windshield on and went through everything so hoping it lasts another 10 years.

To each their own. How much money are you saving? Can you raise your deductibles and reduce the cost of full coverage? I would probably not do this, but it is an option.

I dropped full coverage on a 2013 car with 55K miles on it. I self insure when I think I can. I do retain high liability limits.

One counter-argument is that with full coverage you can get your insurance company involved in a 3rd party claim (e.g. someone damaged your car and their insurance should pay) and avoid some of the hassles of dealing with 3rd parties and 3rd party insurance yourself.