Thursday, December 10, 2009

Getting Car Insurance...How Much Is enough?


By: Robert Katz



When having to buy car insurance you should make sure you understand the suggested minimum requirements by your state and then address your personal situation to properly determine the amount of insurance that best fits you and your budget. There are various different types of coverage you need associated with any given policy, while some may be included and others not, make sure you understand them all and which are most important to you. They include: Bodily Injury Liability, Property Damage Liability, Collision and Comprehensive, Medical Payments or Personal Injury Protection, Uninsured and Underinsured Motorist Coverage, Uninsured Motorist Property Damage, Glass Breakage, Rental Reimbursement and Towing. Now the state required minimums for Bodily Injury Liability, if at fault covering costs to the injured party and your legal expenses, are at least $100,000 per person on the plan or $300,000 per accident. Most minimum deductibles for collision and comprehensive coverage are $250 and $100. Now if you are someone who gets into a lot of accidents you may want to consider a much larger Liability policy; however, if you don't get into many accidents and have a brand new expensive car paying to have a lower deductible for collision coverage may be a good investment. Sometimes if you have a really cheap car it isn't even worth the money to you to pay for collision coverage since the yearly coverage costs more than the cars total value. While bodily Injury Liability and Collision Coverage are the two most important aspects of any policy other more specific offerings (glass breakage, rental reimbursement, and towing coverage) for you personal situation may be very important things to consider based on your likelihood of incurring those associated costs.

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