Is Full Coverage Worth It for Your Minivan?
Whether full coverage makes sense depends on your minivan's current value and your financial situation. At 60,000 miles, most minivans have depreciated significantly from their original price.
Here's what you need to know:
Full coverage includes comprehensive and collision insurance on top of liability. This protects you if your minivan is damaged in an accident, stolen, or harmed by weather or vandalism. The tradeoff is higher monthly premiums.
According to AAA's 2025 driving costs study, insurance premiums average $1,700 per year for vehicle owners. Full coverage typically costs 40 to 60% more than liability-only policies.
When Full Coverage Makes Sense
Keep full coverage if any of these apply:
- Your minivan is worth more than $5,000 to $7,000
- You're still financing or leasing the vehicle (required by lenders)
- You have limited savings to cover a major repair ($3,000 to $10,000)
- You live in an area with high theft, vandalism, or severe weather
- Your deductible is reasonable ($500 or less)
When You Can Drop It
Switch to liability-only if:
- Your minivan's value is less than 10 times your deductible amount
- You have $5,000 or more saved for emergency repairs
- The vehicle is paid off and you own it outright
- You can absorb the cost of a total loss without financial hardship
The Math
If full coverage costs $80 to $120 per month more than liability, that's $960 to $1,440 per year. If your minivan is worth $4,000, you're paying roughly 25% of its value annually just for coverage. In that case, liability-only becomes more practical.
Use your vehicle's current market value as your guide. Check online listings or get an estimate from a dealer to see what similar minivans with 60,000 miles are selling for in your area.
One More Thing
Review your policy annually. As your minivan depreciates, the value of full coverage decreases. You might be overpaying without realizing it. Shopping around for quotes every year can also reveal better rates from other insurers.
Sidekick helps you track your true ownership costs, including insurance, so you know exactly what you're spending and can spot savings opportunities.