Say your state requires you to carry 15000 in property damage liability coverage and you cause an accident that results in 35000 worth of damage.

What should my car insurance limits be. The deductible is the portion of the damages youll have to pay before your coverage kicks in. 52 rows The short answer is that you NEED the minimum amount of car insurance. This is no place for cheap auto insurance.

In fact most auto insurance policies come with deductibles that range from 500 to 2000 though some policies offer deductibles as low as 250. 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. You may need to carry additional coverages to protect your.

With insurance costs going up many people are increasing their deductibles to 500 on comprehensive and 1000 on collision. If you have a million-dollar house you could lose it in a lawsuit if your insurance coverage is insufficient. If your liability limits are for 255025 this correlates to.

This is often either 250 500 or 1000 but it can be more or less depending on the options that your insurance company offers. You should carry the highest amount of liability coverage you can afford with 100300100 being the best coverage level for most drivers. 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.

Most experts recommend a limit of at least 100000300000 but that may not be enough. 25000 of bodily injury coverage per person injured in an accident 50000 of total bodily injury coverage per. Zero deductibles are on the endangered species list because very few insurance carriers offer no deductible.

The deductible determines how much of the costs youll have to pay before your insurance company picks up the rest. A car insurance premium is simply the dollar amount you pay for. State minimums dont provide enough coverage for most people to ensure they are protected in case of an accident.