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…