Year/Make Model: 2002 Chevrolet Silverado and 2010 BMW 328 XI |
Ownership Status: Own |
Discounts: EFT, paperless, |
Liability Only With Suncoast Insurance |
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Bodily Injury Liability: $25,000 Per Person, $50,000 per accident |
Property Damage Liability: $25,000 Property Damage |
Uninsured Motorist Bodily Injury: N/A Comprehensive: none Collision: none |
Other Rejected Coverages: medical payments, roadside assistance, rental car reimbursement |
How can you own two vehicles, including a BMW, and only have to pay under $100 a month? Liability only insurance. If your vehicles don’t have a high MSRP, and you own them, liability only coverage is a great option to consider. If you don’t drive often, and you aren’t overly concerned about all of the “What-Ifs” liability only coverage can greatly lower your monthly rates. However, just be sure to at least have the liability limits and coverages required by the state.
Total 6 Month Premium: $481
Liability-only insurance covers damages or injuries you cause to others in an accident but does not cover damages to your own vehicles. This is a cost-effective option if your cars are older or not financed.
Factors Affecting Rates for Two Cars:
- Driver’s Record: Accidents or violations will increase premiums.
- Vehicle Models: Newer or high-performance cars may cost more to insure, even with liability-only coverage.
- Location: Urban areas like Denver or Colorado Springs often have higher rates due to traffic density.
Monthly Installments: $99
ips to Save on Liability-Only Coverage for Two Cars:
- Multi-Vehicle Discount: Insuring both cars on the same policy can reduce rates by 10–20%.
- Bundle Policies: Combine car insurance with homeowners or renters insurance for additional savings.
- Safe Driving Discounts: Maintain a clean driving record for lower premiums.
- Compare Quotes: Rates vary significantly between providers—companies like Progressive, Geico, and State Farm often offer competitive multi-car discounts.
- Pay in Full: Paying the premium annually instead of monthly can lower costs.
When to Choose Liability-Only for Two Cars:
- Older Vehicles: Cars with low market value don’t justify the cost of full coverage.
- No Loan or Lease: Financed or leased cars typically require full coverage.
- Limited Usage: If the cars are rarely driven, liability-only may be a better option.