Do I Need More Than Liability Insurance?

more-liability-insuranceEvery state in the nation except for Wisconsin and New Hampshire requires that you have liability insurance. The level of mandatory coverage varies from state to state. It is easy to think that this is enough to protect yourself and your property in the event of an accident, particularly since you expect them to be a relatively rare event in your life. Liability insurance represents the bare minimum of coverage however. It is the lowest amount of insurance coverage that your state thought that you could get away with.

As a result, having only liability insurance can lead to your being woefully underinsured, particularly if you are involved in an accident with an uninsured or underinsured driver. You might be covered, but if someone else is injured in an accident where you are at fault, their medical expenses might not be totally covered. If they decide to sue you for damages, you will have no protection for your personal property.

Additional insurance can cover the costs of repair for damages caused by natural disasters like fir or flood as well. It can even help protect you in the event of a breakdown, coving roadside assistance or towing. Although further insurance coverage can add up, you can raise your deductible to help keep your monthly costs down. In the end, you’ll be glad you have the coverage when the moment arrives that you finally need it.

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