Full insurance coverage for your vehicle is essential because it gives you peace of mind. While liability is being determined (and we know that can take forever sometimes) your rental is covered, your vehicle is getting repaired, and you are being taken care of. Sure, it is more expensive to get full auto insurance coverage but it is so worth it. This is the scenario that you don’t want to be in – someone hits your car and they claim that you are at fault for the accident. The police is called to the scene, and need to investigate to determine liability. You only have liability insurance and as a result you out of a car because your vehicle is not drivable. You also don’t have rental coverage and cannot afford to pay out of pocket. By the way, you still need to get to work and drop the kids off at daycare/school!
I really don’t see how you save here. You will be stressed out that the police report is taking forever. Your out of pocket expenses may skyrocket because you may have to rent a car to get to work, and you might also be injured from the accident. Please get full auto insurance coverage if you can, it is simply not worth the headache to be without it.