If you are asking yourself if comprehensive or liability auto insurance is still necessary for high mileage cars that are paid off, the resounding answer is "Yes, positively!" Ask yourself this question also: Can you get along without a car? Your car can still become a total loss no matter how much you do or do not owe on it; without some insurance coverage you will have nothing left toward replacement of that vehicle. Basic insurance protection depends on vehicle worth; liability and comprehensive damages are a different matter.
Some drivers believe that just because a vehicle or home is paid off, they can drop all insurance coverage. This is a worst-case decision, because accidents can always happen. Without proper insurance coverage on a fully paid-off vehicle, all accidental damage costs will come out of your own wallet. The minimum coverage for comprehensive damage should be maintained, as should liability coverage. Your responsibility when someone else is hurt on, in or because of your vehicle hitting them or their property does not end with a final vehicle payment. Liability lawsuits can involve astronomical dollar amounts you could possibly owe.
One example for maintaining comprehensive damage insurance on a paid-off car would be spring and summer hail storm damage. Yes, hail stones do fall that are as large as golf balls and baseballs. These can cause multiple breaks in glass and deep dents in metal. Large hail can even break through metal surfaces. Without comprehensive damage coverage, you bear all repair costs.
It’s wonderful to have a vehicle fully paid off, but remember to keep minimal insurance coverage in effect to protect yourself from liability claims, accidental damage and vandalism. A small monthly payment is much better than paying hundreds or thousands of dollars out-of-pocket.