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How Much Liability Coverage To Purchase

One of the toughest decisions when buying car insurance is whether to keep the minimum required liability coverage or to buy additional coverage. For starters, we should analyze the pros and cons for this coverage. The next thing to do is to determine how much liability coverage to purchase. For this, we are here to help you. Get insurance online auto quotes from our website, if you want to make and educated choice.

# car-auto insuranceOne of the basic rules of liability coverage is that if you own valuable assets, you should buy sufficient coverage to match their value.  Liability coverage pays for the treatment of injuries and the repair of damage you cause to others in a car accident. This is very important because it protects your assets from a lawsuit, but only if you have enough coverage to reimburse the victims.  Do not forget that you are responsible for costs that exceed the limits. Sticking with just the minimum will grant you the right to legally drive, but will not help you in case of serious accidents.

Insurance companies and state regulators generally recommend buying the most coverage you can reasonably afford in order to financially secure your assets. So, the value of coverage is strictly related to the value of your belongings.

You might not need much liability coverage if you’re young and have no assets to protect. If you are sued, the other party will not have that much to  get, should it win. But if you own a home and have savings, you need enough liability insurance to cover their value. The maximum liability coverage you can buy on a car insurance policy varies by company. But usually, the maximum limits are $250,000 for bodily injury per person, $500,000 per accident and $100,000 for property damage.

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