What kind of insurance do I need?

Question

what kind of insurance do i need when i am getting a car loan from bank?

So far i had my cas-bought saab that had simpe insurance that was covering partly. $1955/year

now i want infiniti g35 coupe which costs 20 bucks more with same options.

do i need a full coverage insurance for a car that i pay with bank money?

thanks

Answer 1

Full coverage means, minimum liability, collision, and comprehensive.  It does NOT mean you are fully covered.

You WILL need collision and comp if there's a loan on the car.  But you might ALSO consider other coverages - like rental, medical payments, towing, gap, etc.

Answer 2

Your lender will let you know exactly what kind of insurance you need to protect their interest. If you have lots of money, and might get sued for it if you cause an accident or an injury, then get more.