Are You Really Protected by the Minimum Car Insurance?
Shopping for auto insurance it’s a bit stressful. Finding out what you need, being on the phone for hours not everyone wants to sit through something like that. So naturally knowing that they have to have auto insurance they turn to the minimum amount. So if you off to the minimum amount, does it really protect you? We’re going to break it down for you and give you some insight that’s why many drivers on the road today are wondering if the minimum State Insurance is enough to keep you protected while you’re driving.
If you’re one of the customers that are trying to save some money and only out for the minimum amount, in most cases it may not be the smartest decision. The liability coverage offered by the state minimum is not enough to cover any of the damages. Things like vehicle damage or injured parties can get quite costly we’re far superseded the amount of the minimum insurance. In turn, if you’re insurance company isn’t able to pay for the full amount of the damages you as a driver if you are at fault, can be sued. And if you’re sued you’re entitled to pay for the remaining amount out of pockets.
We know that is can get a little scary so before you buy your auto insurance you should definitely consider the following.
- You should purchase. As a driver on the road, you should be looking at liability insurance between the amounts of $50,000 to $100,000. This should be enough to cover any bodily injury set a curse to any person in the accident, and you should also offer the same amount in property damage and liability. It does put you in a position where you’re paying a little bit more for your insurance premium each month, but it can save you a lifelong stressful day if you would ever need it. You should definitely contact your insurance company and look at all the options you have, and think of any scenario that comes your way. Exhausting all your options and having all angles covered puts you in a position where you don’t have to face financial strain.
- Protecting your property. If you’re at fault in an accident and your insurance company is unable to pay for the damages, you should look into liability insurance that covers your assets. If you’re put in this position like this, you could be sued and your assets will be used to pay for the outstanding balances.
- Declaration Page. This gives you a break down of everything in your insurance policy. Try your best to understand it, cross reference it with other company offers to get the best deal.
In short, it isn’t recommended that you just choose the minimum liability insurance available to you by your state. You should definitely do your homework, sit down and speak with the insurance company to make sure that all possible scenarios that can happen to you are covered. Ask your insurance company what the most insurance common insurance claims are, it will give you some great insight towards your insurance premium. The last thing you want in your mind it’s a regret not taking the insurance policy recommended to you by your insurance company, but to know that you just chose the minimum insurance. It isn’t enough to keep you safe from any financial hardships.