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Is liability auto insurance a good idea if you own a home?

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Auto Insurance

I own a home and have 150/300k full coverage on my auto. My car is a commuter with 150k miles and is worth about 5k. My car is horrible on insurance and costs me about 0 a month(I have a clean driving record). Would it be a good idea to lower coverage to liability? Can I still keep my 150/300k coverage for financial protection and save money by no longer having full coverage?

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