Forum User Asking About Auto Insurance Coverage Amounts

Hallo…

I’m trying to figure out if I have the right amount of coverage for my auto insurance, and I’m not sure if I’ve got enough or should add more.
Here’s the deal: I only have one car, and I’m the only one driving it. It’s pretty old, so I don’t want collision or comprehensive coverage. If it gets wrecked, I’ll just buy another one. My main focus is protecting myself from liability, lawsuits, and covering any damage I might cause to other people’s stuff.
Here’s what I’ve got right now:

  • Umbrella policy: $1 million
  • Bodily injury liability: $500k per person / $1 million per accident
  • Property damage liability: $150k per accident * Uninsured motorist bodily injury: $500k per person / $1 million per accident
  • Medical payments: $5k per accident
    I know nobody can see the future, but how do I figure out if these coverage amounts are good enough for me? Do these numbers seem low, typical, or high to you?

Best Wishes…

The amount of protection you desire :face_with_raised_eyebrow:, your financial condition, and state regulations are all significant considerations when figuring out how much vehicle insurance coverage you need.

  1. Liability Insurance: This is typically required by law and covers damages and injuries you cause to others. Common minimum limits are:

Regardless of responsibility, this covers medical costs for you and your passengers. States have different levels of coverage.

You may want to think about getting extra coverage, such as gap insurance, roadside assistance, or rental reimbursement, depending on your needs.

These protect your vehicle from harm caused by theft, accidents, and natural catastrophes :thinking:. These are often necessary if you lease or finance your vehicle