{"id":54842,"date":"2019-05-24T04:15:50","date_gmt":"2019-05-24T11:15:50","guid":{"rendered":"https:\/\/lenpenzo.com\/blog\/?p=54842"},"modified":"2020-05-24T07:27:00","modified_gmt":"2020-05-24T14:27:00","slug":"full-vs-limited-tort-car-insurance-are-the-savings-worth-the-risk","status":"publish","type":"post","link":"https:\/\/lenpenzo.com\/blog\/id54842-full-vs-limited-tort-car-insurance-are-the-savings-worth-the-risk.html","title":{"rendered":"Full- vs. Limited-Tort Car Insurance: Are the Savings Worth the Risk?"},"content":{"rendered":"

\"insurance<\/a>Insurance. Guarantee. Protection. These are things that we want to have when we’re talking about big investments like a house or a car. It’s only right to think that way, especially because these things are the fruits of our labor. After all, we toil in order to accumulate possessions that add value to our net worth.<\/p>\n

We invest, we save, and we manage our finances.<\/p>\n

But one thing that’s often overlooked is the fact that we, too, need to protect more than just our money<\/a>: We need to protect our property<\/strong><\/em>.<\/p>\n

There are many undeterminable variables and there are simply too many things that can go wrong without warning. While it’s nice to have safeguards against a wide variety of worst-case scenarios, we shouldn’t forget to consider ourselves in the process.<\/p>\n

We love cars. It’s undeniable and to say otherwise is strange. Why would we have such bad traffic if that statement wasn’t true? The trouble here is that in our excitement to ride off toward the sunset, there are many details that are often glossed over.<\/p>\n

The least appealing part of car ownership is dealing with car insurance<\/a>, and choosing between full tort or limited tort coverage. What are the key differences between these two and are the cost-savings you get from a limited tort car insurance plan worth the risk?<\/p>\n

Premiums<\/b><\/p>\n

As you may have already guessed, limited tort car insurance policies cost significantly less than their full tort counterparts. Though, it’s also important to consider the depreciation of the value of your car. Newer and top-of-the-line models are going to have a higher premium regardless of what type of car insurance policy you’re getting.<\/p>\n

Functional Coverage<\/b><\/p>\n

Now, this is where things get more interesting. In case you find yourself in a car accident, you’re going to want to get a personal injury lawyer to help you with your insurance claim. The following illustrates the effects of having one or the other car insurance policy:<\/p>\n