How much coverage do I need?

Most states require you to carry a minimum amount of liability coverage.  Most insurance professionals will tell you that the state minimum is not enough to protect your assets in the event of an accident.  The reason is because once your insurance policy has paid out up to your limits you are still responsible for paying the rest.  These bills include medical bills for damage caused to others and bills to repair and replace the property of others that you damage.  Think about that annoying personal injury lawyer that you see on your t.v. everyday.  Every city has at least one, and there is a reason he is in business.  Too many people don’t have the proper amount of auto insurance coverage and they are being sued everyday.

If you have $25,000 of bodily injury coverage and you hit a car full of people sending them to the hospital racking up $50,000 of medical bills your policy pays the first $25,000 but you are still liable for the rest.  You could potentially lose your home, your investments or any other assets you have in order to pay that bill.  Why risk losing everything you’ve worked for just to save a few dollars a month.  Speak with your insurance agent to find out exactly how much coverage you need.  You may be surprised to find out how little it actually costs to buy higher liability limits.

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