Whether you are buying a car for the first time, or you are shopping around for a new auto insurance provider for the first time in years, it is important that you get the right coverage to meet your needs. Yet, if you are not familiar with car insurance policies, you may be unsure how much insurance you actually need. To help you make an informed decision, and to ensure that you are protected in the event of an accident, here are just a few things that you should take into consideration when choosing automobile insurance.
Your State’s Minimum Requirements
When trying to determine how much car insurance you need, one of the most important things that you will need to consider is your state’s law. Each state has minimum car insurance requirements that will dictate the basic insurance limits that you must have when you own a car. In addition, if your state is a no-fault state for car accidents, then you will likely also need to have Personal Injury Protection (PIP) insurance to cover your medical expenses in the event that you are involved in a car accident. However, it is often important that you get more than the minimum insurance required by your state in order to fully protect yourself in the event of an accident.
One coverage area that you will likely want to have exceed your state’s minimum requirements is liability coverage. The fact is that you should have a policy that has enough liability insurance to cover the total value of your assets and net worth. If you are in a car accident and the other driver sues you for damage, your insurance only pays up to your coverage limits. If you have to pay for any damages in excess of these limits, you could have your assets seized to cover the remainder. It is then important that your liability coverage exceeds your net worth in order to ensure that you are fully covered in the event of an accident.
Consider Adding Uninsured/Underinsured Motorist Protection
While not required by most states, it is important that you consider investing in uninsured/underinsured motorist coverage, as this can protect you in the event that you are hit by an uninsured driver, experience a hit-and-run, or get in an accident with someone who doesn’t have sufficient coverage to pay for the damage they caused. While an inexpensive addition to most auto insurance policies, uninsured motorist insurance can be critical in getting you back on your feet in the event that you get into an accident with someone who isn’t properly insured.
If you would to like to discuss your options for car insurance please call us at 561-732-9305 our quoting hours are Monday through Friday from 8:30 AM to 5:30 PM. In addition, you can request a quote online. Please remember, We Handle All the Work, While You Save!