Cheep Vehicle Insurance, Consider More Insurance Coverage
Particular states’ vehiclemobile coverage requirements to operate a vehicle legally are pretty low and can leave motorist susceptible to incurring major monetary expenses should a serious traffic accident occur. According to the California Department of Insurance, resident drivers need to purchase liability policies consisting of no more than limits of $15,000 for bodily injury to one person, $30,000 for bodily injury per accident and $5,000 for property damage. On the same token, Florida only requires $10,000 in personal injury protection (PIP) and $10,000 in property damage liability. These states are well known for high population per capita and some areas are famous for having expensive cars on the roadways. Therefore, the likelihood of accidents is greater and the chance of being involved with a vehicle of higher value increases as well. One may want to consider purchasing more than just the required limits.
Most industry professionals will recommend that consumers purchasing property damage liability in the amount of $50,000 and for good reason. Say if an individual were to purchase California’s minimum of $5,000 and caused a collision with a German luxury vehicle and the damages amounted to $25,000, the insurer would only pay out the $5,000 covered by the policy and the remaining $20,000 may have to be paid to the other party by the policyholder out of pocket, or worse, the other party could sue and leave the insured not only with a $20,000 bill, but legal fees and any additional payment as part of the judgment. Many consumers do not take these types of issues into account and buy the bare minimum to drive legally on the road, and even though it may satisfy the state, it still may not be enough. vehicle insurance coverage is available to cover liability, physical damage to the insured’s vehiclemobile, uninsured motorists and much more, individuals should be sure to understand options and choose wisely.