By requiring an insurance policy with high coverage limits the lender is protecting your car which under the terms of the loan is legally considered their asset until you pay it off.

What should my car insurance limits be. 25000 of bodily injury coverage per person injured in an accident 50000 of total bodily injury coverage per. In fact most auto insurance policies come with deductibles that range from 500 to 2000 though some policies offer deductibles as low as 250. Car Insurance Terms Explained Deductible.

Collision insurance comes with a deductible and a maximum limit. With insurance costs going up many people are increasing their deductibles to 500 on comprehensive and 1000 on collision. In Ohio for example the states minimum insurance requirements include 25000 for the injury or death of one person 50000 for the injury or death of two or more people and 25000 for.

State minimums dont provide enough coverage for most people to ensure they are protected in case of an accident. You can get additional coverage with a Personal Umbrella or Personal Excess Liability policy. If your liability limits are for 255025 this correlates to.

You should carry the highest amount of liability coverage you can afford with 100300100 being the best coverage level for most drivers. What level of insurance should I get for my car. If you have a million-dollar house you could lose it in a lawsuit if your insurance coverage is insufficient.

This is no place for cheap auto insurance. A car insurance premium is simply the dollar amount you pay for. Insurance experts generally recommended that you purchase 100300 limits of bodily injury liability meaning 100000 for one person in an accident and 300000 for.

Zero deductibles are on the endangered species list because very few insurance carriers offer no deductible. 52 rows Your car insurance company might not allow liability limits high enough to cover. You may need to carry additional coverages to protect your.