Recommended Levels of Insurance (Car Insurance)

[TwinsBrewersWorldSeries]

So after doing the "15 minutes to save 15% on car insurance", i've discovered that through either progressive.com or USAA that I can reduce my rates from about $72/mo to around $47/mo. The only question is what liability limits i should carry. I am insuring a 3 year old Pontiac Vibe. I have a clean driving record (no tickets, no accidents), am older than 25.

 

What would you recommend for insurance limits?

 

Bodily Injury Liability- Currently $300k/$500k per person/per accident

Property Damage- Currently $100k

Uninsured/Underinsured Motorists- $300k/$500k per person/per accident

Medical Payments- $25k per person

Comprehensive/Collision- $500.00 deductible

 

I've decided i didn't want the "extended benefits" for death/disability (isn't this covered by the liability coverage? i have my own disability coverage through work) and the amount is small anyways

I also decided to keep the roadside assistance, but figure the "rental car" coverage is a waste of money

 

I know there has been a push to increase liability limits (increasing to $1,000,000 is probably about a $4-5/mo difference.

 

Would love to have everyone's $.02

 

TBWS

[TwinsBrewersWorldSeries]

sorry to bump my own thread, but this board is usually a wealth of knowledge. Anyone have any input? THANKS!

[FVBrewerFan]

Increasing it to $1,000,000 is a good idea, although I would bet that's more than an additional $4 a month. Another idea would be to keep your liability limits where they are and purchase a $1,000,000 umbrella. That will give you more auto liability protection, plus cover you for other potential liabilty claims. Especially a good idea if you own o home and/or have children.

[nate82]

Don't increase your auto insurance to the $1 million mark leave it as is. Take out a $1 million umbrella which is rather cheap instead. Your rates will increase higher than what the premium for the umbrella will be. The rental car isn't always a waste of money depending on how much it is. If it only raises your premium up $1-5 then it is worth it if it goes above the $5 mark I wouldn't get it.

 

The rental car coverage is great if you get into an accident and you need another vehicle to get to work or to school. If you don't have another vehicle at your disposal you should take the rental car coverage.