There are several factors to consider before choosing a policy - including your budget and lifestyle. There is no correct answer, which puts the decision in your hands. While minimum coverage upholds liability protection, it does not pay for the replacement or repair of your vehicle in the case of an accident. Full coverage includes and collision coverage - but it comes at a higher cost. Meaning, the more coverage you buy, the higher your premium will be. With that being said, a used car owner may opt out of comprehensive or collision coverage when his/her vehicle is older than 10 years. For example, if your 11-year old Honda Accord has seen better days, then full coverage may be a waste of money. Essentially, buying full coverage may cost you more over time than the actual cash value of your car if an accident occurs. Since insurance rates do not change drastically in accordance with value, you should stay mindful of how much your used car is really worth insuring. The following will highlight two insurance companies that provide excellent coverage for used car owners.