How Much Car Insurance Do You Really Need??

Each number is expressed in thousands of dollars.

Most states have a minimum bodily injury liability coverage requirement of $20,000 to $25,000 per person and $40,000 to $50,000 per accident, says Bob Passmore, senior director of personal insurance lines for the Property Casualty Insurers Association of America.

How much car insurance is enough?

A common policy structure has 100/300/50 liability limits, which covers up to: $100,000 for injuries per person. $300,000 for injuries total, per accident. $50,000 for property damage per accident.

Is car insurance in California expensive?

California is known for being larger than life, and the state’s auto insurance premiums are no exception. With a statewide average premium of $1,962, the Golden State is amongst the most expensive places to insure your vehicle. However, you shouldn’t fret.

What is the average car insurance in California?

The Zebra. Car insurance policies are expensive in California. The average auto insurance cost in California is $1,713 per year — 20% more than the national average.

What is a good amount of car insurance coverage?

The amount of Liability coverage you carry should be high enough to protect your assets in the event of an accident. Most experts recommend a limit of at least $100,000/$300,000, but that may not be enough. Collision – Covers the cost of damage to your own car in an accident.

How much uninsured motorist coverage should I get?

I recommend at a minimum that you get $100,000 in UM coverage. Note that you will be required to carry equal or higher liability coverage compared to the uninsured/underinsured motorist insurance coverage you get.

Should I get collision insurance?

Comprehensive and collision coverage won’t pay more than your car’s ACV. If your car is not a total loss, then your insurance company should pay for your damages, minus your deductible. This means if repair costs are $2,500 and your deductible is $500, your insurance company should pay out $2,000.

What type of auto insurance do I need?

All other states require at least two types of bodily injury liability (BIL) and property damage liability (PDL). Some states also require personal injury protection (PIP) and some require uninsured/underinsured motorist (UM/UIM) coverage. Find out your state’s required minimum car insurance coverage.

Photo in the article by “Wikipedia”