Should you drop full coverage?
Comprehensive and collision only ever pay out your car's value minus the deductible. Once the yearly cost gets close to that ceiling, they stop being worth it. Plug in three numbers and see where you stand.
Use only the comprehensive + collision portion of your premium, not liability, PIP, or PDL.
Before you drop anything: if your car is financed or leased, your lender requires comprehensive and collision, so this doesn't apply yet. And even if you drop them, keep strong liability and uninsured-motorist coverage. This is a guideline to think with, not insurance advice.
How this works
“Full coverage” is shorthand for adding comprehensive and collision on top of Florida's required PIP and PDL. Those two coverages pay to repair or replace your car, but only up to its actual cash value, minus your deductible. That ceiling is the whole game.
A common rule of thumb: when the annual cost of comprehensive and collision approaches roughly 10% of the car's value, or when you'd pay the car's worth in premiums within a couple of years, it's worth asking whether the money is better kept in your pocket. This calculator just makes that math visible.
Two things it can't decide for you: if your car is financed or leased, your lender requires these coverages, so dropping them isn't an option yet. And whatever you do, keep solid liability and uninsured-motorist coverage, since those protect your finances and don't shrink with the car's value.
Informational only, not advice. This is a guideline to help you think it through, not a recommendation for your specific policy. Confirm decisions with a licensed Florida insurance professional.
For the full picture, see our guide on what full coverage actually means in Florida.