How Much Auto Insurance Do You Need?
To answer that question you first need to know how much auto insurance your state requires. Different states have different regulations for auto insurance. Some are more strict than others. But the bottom line is, if your state says you are required to have it, then you’re required to have it.
So how much auto insurance do you need beyond your state’s minimum?
For starters, make sure you get enough insurance to protect your assets if you’re in an accident. If you’re covered for $50,000 bodily injury and are in an accident that causes more than $50,000 the injured party’s lawyers can come after your assets. You’d need to come up with a lot of money fast or lose what you’ve worked all your life to accumulate.
Another thing to consider is that, while most states require insurance there are some that don’t. And even in the states that do require auto insurance, some people just don’t carry auto insurance. Make sure you have enough auto insurance to protect yourself.
Also, if you have tended to get in accidents in the past (even if they weren’t your fault) you may want to consider beefing up your auto insurance policy a bit.
