To reduce auto insurance premiums as your car depreciates in value,you should consider self-insuring which of the following risks?

Question

Quizplus · Accepted Answer

Self-insuring collision and comprehensive (other than collision) can help reduce auto insurance premiums as these coverages are directly related to the value of the car. As a vehicle depreciates in value, the potential cost to repair or replace decreases, making it less necessary to have these coverages. However, it is important to consider the potential financial burden and risks associated with self-insuring and to have enough savings set aside to cover any potential expenses. Bodily injury liability and property damage liability should always be maintained as they provide coverage for third-party damages and injuries.

To Reduce Auto Insurance Premiums as Your Car Depreciates in Value,you