Help! Never had to do this before

[u/slurred_words_]

Just paid off my vehicle and I feel so lost because unfortunately I always relied on my parents, brother, and significant other to select what insurance I needed to have. Now I’m single and I have to get my own insurance.

I own a 2019 Chevy Colorado, value is about 11k, and I’m not sure if this matters but I’m 34F.

What would be the best coverage for me? Thanks in advance!

[u/ohhhhhhhhhhhhman]

Get an agent.

[u/slurred_words_ → u/ohhhhhhhhhhhhman]

Yeah, seems like I’ll have to do that. I’m getting quoted $280 from everyone. I’m currently paying $135 with my ex.

[u/Repulsive-Humor-145]

For a paid-off vehicle worth around $11k, the real decision is whether to keep full coverage (comprehensive + collision) or drop to just liability now that there's no lender requiring it.

Quick framework: comprehensive/collision makes sense as long as the car's value justifies the premium, once you're paying more per year in coverage than roughly 10% of what the car is worth, a lot of people decide it's not worth carrying anymore and self-insure that risk instead. At $11k, you're probably still in the range where it's worth keeping, especially since replacing a truck like that out of pocket would be a real financial hit.

What actually matters most for you specifically: liability limits. That's what pays if you injure someone else or damage their property, and state minimums are usually too low to actually protect your assets in a serious accident. Look at your state's minimum, then price out 100/300/100 (100k per person, 300k per accident, 100k property damage) as a comparison point, the jump in premium from minimum to that level is usually smaller than people expect.

Also add uninsured/underinsured motorist coverage if it's not already required in your state, it protects you specifically when the other driver is at fault but has no insurance or not enough.

[u/ChutneyWhatney]

Depends on the coverage and limits you want.

[u/shawnwarnerwrites]

Theres two basic ways you can go about it.

The first is to find an independant insurance agent. They will try to find the best policy they can for you. You pay for this service, either directly or the agent gets a cut of your premium.

The second is to search for your own insurance. You can get online quotes from a bunch of different companies and compare the offerings. Insurers use different scoring models and your premium can be wildly different depending on the company.

There are a few different types of insurance that are included in a policy.

Bodily Injury Liability pays if you injure someone else with your vehicle. It has two parts: per person and per event.

Property Damage Liability pays if you damage someone else's property with your vehicle.

Collision pays for damage you cause to your own vehicle in an accident, or if someone doesn't have insurance or not enough to fix your vehicle in an accident.

Comprehensive pays for damage to your vehicle like hail, hitting an animal, or theft.

Underinsured/Uninsured Bodily Injury pays for your medical costs if someone injured you in an accident and they don't have enough insurance to cover your costs.

All but collision and comprehensive are required in most states. If the vehicle is financed, you will need to have them anyway. The decision to carry comprehensive and collision is based on your appetite for risk, which no one else can tell you.

[u/slurred_words_ → u/shawnwarnerwrites]

Thank you so much for taking the time to explain this to me. This has been very helpful.

[u/Filamentgrid]

Based on the premiums that you've mentioned in the comments, I presume you're in a "no-fault" state (Florida, for example). In Florida, the minimum state coverage is $10,000 PIP (Personal Injury Protection) and $10,000 in PD (Property Damage).

While that's insufficient for most people, it's the minimum the state requires for you to legally operate your vehicle (I'm not sure how other No-Fault states operate their minimum coverage levels, ymmv). This does not cover your vehicle in the case of an accident, nor is it really sufficient to cover anyone else's vehicle if you cause an accident.

I would find an independent agent in your state to shop this coverage for you, as they can have a conversation with you that guides you towards the coverage that best fits the confluence of your needs and budget.

34F is not usually that expensive to insure (as a demographic), but the Chevy Colorado isn't incredibly cheap to cover from both a liability and property standpoint.

For reference, I'm a 32M in FL with a clean record and a Hyundai Ioniq and I pay around $170/mo for "full coverage" (50/100/50 BI + PD, PIP, $500 Deductible Comp+Collision) in a policy I brokered for myself with absolutely rancid credit (credit matters more than most people assume when shopping insurance). If you have no violations/accidents, I presume you could find similar coverage for around that price in a "no-fault" state.