how much liability should one get on auto insurance ?

Question

How does one determine the appropriate liability insurance to get on an automobile?

Answer 1

Enough to protect all of your assets plus a year or two of projected income. This would include things like your house.

Fortunately, the cost of liability insurance is quite low. Getting the maximum coverage offered is pretty cheap. Physical damage coverage for your own vehicles is *much* more expensive.

Answer 2

Getting the state minimum is dangerous in most states. (Alaska's state minimum is higher.) Liability insurance covers your assets, so instead of thinking about the value of your car, consider how much damage your car could cause. If, God-forbid, you crashed into a house, you could easily exceed $100,000 in Property Damage liability. If you were invovled in a fatal collision with a young profession father, you could be found liable not only for hospital and funeral costs, but the lost wages he would have earned if he had lived. Like someone else said, buy as much as you can afford!

Answer 3

Figure out what your state minimums are first, then decide that if you were to get into an accident, how much additional would you like covered as a civil lawsuit can be filled for additional reimbursement of medical, etc. Good Luck.

Answer 4

the easy answer is you should get as much as you can afford. However, if you have no personal assets to speak of, no one can get anything from you beyond your insurance, and you don't need quite as much. The purpose of insurance is to protect your own assets against judgments.

Answer 5

I trust Mike, if it changed into parked out the front of your position, it will be your homestead proprietor or renters coverage. even if you had finished insurance on the van it would nevertheless bypass by using your homestead proprietor coverage first. If no homestead proprietor/ renters coverage i'm afraid you'd be out of success. you should although nevertheless make a police record, if the adult men are ever stuck they could be ordered by using courtroom to pay restitution, you want your call there. reliable success!!!

Answer 6

depends on where you live and what you own.

if you don't have a pot to p--- in then get the legal minimum.

some states limit the amount you can sue for, so if your state has such a limit, never buy more than that limit.

Answer 7

I tell people, enough to cover what you're worth, PLUS what you are going to probably earn over the next two years.

Answer 8

Depends on how old the car is, and how many people are driving the car. My car is old-so I have only basic coverage.