Many drivers assume that having enough car coverage to meet state insurance minimums is enough to keep them safe. Unfortunately, insurance professionals across the board agree that state minimums do not provide adequate coverage to protect against all your risks. But, if you can’t rely on minimums, then how can you decide if you have adequate car coverage? Here’s what you need to know about getting enough auto insurance.
Car insurance is designed to protect your finances in the event of an accident, particularly accidents that you are at fault for. Unfortunately, state minimums are rarely enough to address the full cost of an auto accident. Once your car coverage runs out, it will be up to you to cover remaining expenses out-of-pocket. If you do not have enough money saved, then assets such as your home, retirement account, personal property, and so on could be at risk. Rather than leaving yourself vulnerable to this threat, it’s much smarter and safer to secure adequate car coverage from the start.
Unfortunately, there is no universal auto insurance coverage amount that drivers should be attempting to meet. Every driver has their own risk factors and needs, which affects the amount of coverage they need to carry. The best way to determine your ideal coverage amount is by using a car insurance calculator tool or speaking with a trusted insurance professional. By factoring in your risks, assets, and budget, you can find the right coverage to meet your needs.
This is why it’s so important to have the right amount of car insurance coverage. Are you looking for assistance with your auto insurance? If so, then contact the experts at Mike Leonard Insurance Agency. Our dedicated team is eager to find you the right coverage from one of our many carriers including: Kemper, MetLife, Nationwide, Travelers, The Hartford, Safeco Insurance, Progressive, and American Strategic Insurance.