Indiana is the same for full coverage insurance. If you have financed the car, you must keep it fully covered.
Even though I bought the '02 Dreamer with cash and owe nothing on it, I keep full coverage insurance.
A $2500 beater isn't worth full coverage, and at that price it wouldn't be financed.
If I bought a 98 Sebring today, it would be for cash.
If you bought it new, and got stuck with 5 or 6 years of payments, then full coverage on a 7 year old car would really suck!
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