How can you tell if you have enough car coverage?
While most drivers understand that they need auto insurance, you may not know just how much coverage you actually need. For instance, if you are meeting your state’s insurance minimums, you might assume that you are all set. However, in reality, simply meeting coverage minimums does not ensure that you have enough insurance to realistically cover the costs resulting from an accident. Here’s what you need to know about getting adequate auto coverage for your needs.
Ultimately, there is no specific coverage amount that separates the well-insured from the underinsured. However, if you are simply relying on insurance minimums, there’s a good chance that you will be underinsured for almost every car-related accident that you might face. While you might have chosen a policy that only offers minimal insurance as a means of saving money, keep in mind that, if you are underinsured, everything that your insurance can’t cover will come out of your own pocket. So, if you are currently relying on minimal insurance, you may want to seriously consider raising your coverage limits to reduce you risk and save you from having to cover claims on your own.
Increasing Your Limits
Generally, increasing your auto insurance coverage limits is as easy as contacting your insurance agent. If you are not sure how much you should increase your limits, ask your agent for their professional advice. They should be able to offer some different options and explain how each will affect your premiums. Increasing your coverage will obviously result in premium increases, but you will also gain the peace of mind that comes from knowing you have the comprehensive coverage you need.
If you are currently relying on minimal insurance, it’s time to upgrade your coverage limits and your policy. For assistance with your auto insurance needs, contact the experts at Patterson & Associates in Richardson, Texas today.