<p>I’m talking zero deductable, full collision coverage, maximum comprehensive coverage. I don’t think you can get that for less than $150/month.</p>
<p>And if you have a $2500 deductable, you better have that much or more cash in the bank to cover it in case you have an accident. Hopefully you won’t but you never know. Hope for the best, prepare for the worst, enjoy life.</p>
<p>And I’m excluding 401k as savings because you can’t tap into it in an emergency. Nor can you use it before you’re 65 without incurring significant penalties, that will probably wipe out any tax savings and returns you made on that money. I’m talking cash savings that are sitting in, say, a high-yield savings account. Ideally, you want to have at least 8 months’ savings in an “emergency” fund. But if you got credit card debt, pay that off first.</p>