We are frequently asked, “How much car insurance do I need?”
The simple answer is: 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.
You should also buy gap coverage if you take out a loan to purchase your car. With the rising costs of cars and interest rates, and minimal insurance coverage, we’ve seen crash victims who continue having to pay for a car that was totaled.
If you’ve been in an accident, you might want to check out our Free Personal Injury Settlement Calculator, learn why you might have memory problems after a car accident, or learn why you have muscle spasms after a crash. You may also be interested in learning what are the 10 most dangerous intersections in Phoenix. Ultimately, you might want to consult with a Phoenix car accident lawyer to learn if you are entitled to compensation for your crash-related injuries.
Unveiling the Secrets to Success After a Car Accident in Phoenix: How Hiring a Skilled Lawyer Can Make All the Difference in Your Claim In the aftermath of a car accident in Phoenix, knowing the sec...
Posted by JD
Pain and Suffering Damages Many accident victims do not realize they are entitled to “pain and suffering damages." At its most basic essence, pain and suffering describes both the physical a...read more
Posted by JD
People often feel sore in one or more body parts following a collision. The most common sore body parts are neck and back. In our industry, back pain after a car accident is expected. It often a...read more