Deciding whether to keep full collision and comprehensive coverage on a 10-year-old car depends on the vehicle's remaining market value and your personal financial situation. If your 10-year-old car has high mileage, a low resale value of a couple of thousand dollars, and you could easily afford to replace it with cash if it were totaled, dropping full coverage in favor of liability-only insurance can save you hundreds of dollars annually. However, if the car holds strong residual value and you rely on it daily, keeping coverage is wise.
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