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Question

What is the minimum coverage I should keep on an old car that I am selling that isn’t worth much?

I am purchasing a used minivan and selling my old one. The old van is a 2002 and has 198,000 miles on it. With this old van, I currently have bodily injury liability 50,000/100,000, property damage liability 100,000, medical payments 1,000, and uninsured motorist bodily injury 50,000/100,000. This van is only worth about $1,200. It will be driven once or twice a week for short errand-running trips until it is sold.

Agent Answer

Kristine Lee

In Ohio, the state minimum liability requirements are 25/50/25 — comprehensive and collision are optional. If you’re looking for the lowest coverage and the cheapest rate, that’s the best option though this decision is completely up to you and what you’re comfortable paying.

If you’ll still be driving the van occasionally you need to be extra careful — if you get the minimum about of liability coverage, any damage to the vehicle caused by you or an uninsured driver wouldn’t be covered and you would likely lose your investment. Furthermore, if you exhaust the state minimum limits, you would have to pay the remaining balance.

Below is some information you might find useful. If you have any other questions, don’t hesitate to ask.

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