Is this plastic cover important? Mine is ripped and hangs down about 2 inches off the ground and I hear it dragging all the time. Should I get it replaced or just take it off?

 

Take it off, its no big deal.

 

Definitely try to get a replacement. It's there for a reason. It protects the bottom from large debris and moisture. My friend took his off and over time the bottom of his engine and crossmember were filthy and rusty.

 

If it snows a lot around you I might worry about it. Otherwise I wouldn't.

Mine has been off for near 3 years now and there is no rust nor filth on my engine or crossmember.

 

its called splash guard. Yes it stops mud and crap getting flicked all over your engine bay.

 

You're in PA? Yeah, as a fellow Mid-westerner, I would higly suggest getting that tacked back up / replaced.