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Know Your Minimum Auto Liability Limits

Once you know the bare-bones amounts you need to protect yourself, you will be in a better position to judge whether or not you need to purchase above the minimum limits. Because at the end of the day you get what you pay for. Didn’t get it? Let us put it more plainly. While you may cover injury liability, if someone else is hurt or wounded in the accident and you are at fault, your minimum coverage may not be able to bear their medical expenses. If this happens, then you have to pay these medical expenses out of your pocket.

In general, insurance firms recommend their customers to purchase $100,000 to 300,000 limits of a bodily injury liability. However, if your personal assets aren’t that much (i.e. you don’t own a car or home and do not have much savings), then there is no need to increase your limit as minimum requirements might be the best choice for you. In fact, it may also give you an opportunity to save some cash and start saving.

On the contrary, if you possess significant assets, then they could be at risk. Buying a little extra insurance will not only allow you to protect them but also give you the peace of mind that could prove really beneficial for you in the event of an accident.

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