There is nothing better than driving a car that is paid off. Drivers who go only with liability insurance can save even more money. But make sure you read the fine print in your insurance policy.

Joy Wasim paid off her two cars -- A Ford Taurus and an Audi -- which meant legally she did not need collision or comprehensive insurance. So she opted to save a few more dollars and dropped both policies. It was a money-saving idea until one cold January night.

"I was in watching TV, heard a loud boom. The whole house shook from the impact of the green car hitting the garage door," Wasim recalled.

Wasim said that car, possibly stolen, barreled into both cars, totaling both them. Worse yet, the driver jumped out his car and left the scene.

Hours of paperwork, picturing taking and phone calls to police did not erase the fact that Wasim carried only liability insurance. She won't get any money for her totaled vehicles.

"In this case, I mean insurance didn't cover it because it's just simple liability," Wasim said.

KMBC's Lara Moritz reported that the fine print in most insurance policies states something to the effect that as your car's value decreases, you might consider dropping the coverages and pocketing the savings on premiums. But experts said you should consider if the savings are enough to offset the risk of footing the entire cost of repairing or replacing the vehicle.

"Also, they want to carry the minimum liability," insurance agent Rex Hoy said.

Hoy said that too often dollar signs blind people into thinking as little insurance as possible is OK.

"An agent is obligated to try and give the person the coverages they should have in case something happens," Hoy said.

But sometimes something does happen. Money saved in premiums does not compare to the amount of money joy needs to get just one car.

"Had we at least had full coverage on one car or the extra collision on it, we would have some sort of transportation ... something to fall back on," Wasim said.

Wasim not only needs to buy two new cars, but the police department will ticket her if she does not tow the cars soon. Towing is also not included in liability insurance, Moritz reported.