Don’t Gamble on Minimum Coverage Policies

One of the biggest pitfalls a car owner can make is buying the minimum liability limits required by their state. While the minimums vary from state to state, in all cases they are woefully inadequate to cover the costs of a serious accident if you are found at fault.

If you have a minimum value policy, your net assets are vulnerable to being seized if you are sued for causing injuries or property damage.

The minimums states require are for:

• Bodily injury per person
• Total bodily injury per accident (for numerous vehicle occupants, for example), and
• Property damage (including damage to the other vehicle). Don’t Gamble on Minimum Coverage Policies