You’ve saved, researched models and brands, and now you’ve finally taken the plunge and bought a car—congratulations! But before you hit the open road, you need to take care of a few things first, and that means it’s time to buy yourself some car insurance. Since you just dropped a big chunk of change on your car, you might think the smart thing to do is save a few bucks a month by picking the minimum required coverage, right?

Don’t do it, it’s a trap! Okay, so maybe it’s not that dramatic, but going with a minimum coverage plan could end up costing you a lot more than you’d expect. Here are a few things to consider when you’re tempted to pick the cheapest option.

Why minimum coverage is not a good deal

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