You need at least enough car insurance coverage to protect yourself if you are in a car accident. Several factors determine your insurance needs. These factors include State minimum requirements, the value of your vehicle, the value of your assets, and how much insurance you can afford. There are different types of insurance coverage designed to cover various repercussions of a crash. Ultimately, you should ask yourself:
Most States require car owners to maintain a minimum amount of liability car insurance. Arizona requires car owners to purchase insurance coverage that is at least $25,000 per person for bodily injury coverage, $50,000 per accident for bodily injury coverage, and $15,000 for property damage. However, minimum requirements may not be appropriate for you.
The National Association of Insurance Commissioners provides its recommendations for buying automobile insurance. One key component is understanding the different types of insurance coverage and not being fooled by the names given to them. In Arizona, insurance options include:
Drivers who lease or finance their vehicles are usually required to buy collision and comprehensive insurance.
Based on the sad stories we’ve seen over the years, we highly recommend people purchase all eight coverages. This is the only way to ensure you have good protection if you are in a crash. Great protection would be if you can afford to buy insurance with high limits. Keep in mind that you can lower your insurance premium with a higher deductible, which is the amount you agree to pay out-of-pocket before your insurance company pays anything.
Posted by JD
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