How much insurance do you need for an older car?


Author's Note

Car insurance has been on my mind lately, probably because the rear bumper of my trusty four-wheeled steed now has a sizable dent. After a breakfast meeting at a local restaurant, I returned to my car and discovered that someone in the parking lot had backed his vehicle into it and left -- without leaving a note.

In all likelihood, the other driver didn't have insurance, as I was advised by a police officer who happened to drive into the parking lot as I inspected the damage. On the bright side, at least I do -- and that's sure to soften the blow as I gather repair estimates from area body shops.

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Sources

  • Insurance Research Council. "Uninsured Motorists, 2011 Edition." April 1, 2011. (March 12, 2012) http://www.insurance-research.org/research-publications/uninsured-motorists-2011-edition-march-2011
  • Ohio Department of Insurance. "Guide to Automobile Insurance." (March 13, 2012) http://www.insurance.ohio.gov/consumer/ocs/completeguides/completeautoguide.pdf
  • Reed, Phillip. "How Much Car Insurance do you Need?" Edmunds. Aug. 25, 2011. (March 12, 2012) http://www.edmunds.com/auto-insurance/how-much-car-insurance-do-you-need.html
  • Schrage, Andrew. Personal interview. March 13, 2012.
  • Smart Money. "How Much Auto Insurance do you Need?" July 9, 2008. (March 12, 2012) http://www.smartmoney.com/plan/insurance/how-much-auto-insurance-do-you-need-10731/
  • The Wall Street Journal. "How Much Car Insurance do you Need?" (March 12, 2012) http://guides.wsj.com/personal-finance/insurance/how-much-car-insurance-do-you-need/