How Much Auto Insurance Do I Need: Everything You Need to know
On this page we will inform you of everything you will need to know about Auto Insurance, How much you need, What is required, and if you need it!
- How Much Auto Insurance Do I Need: Everything You Need to know
- What is Auto Insurance?
- You May be Asking: How Much Auto Insurance do I Need?
- How Much Auto Insurance do I Need for Car Coverage?
- Quick Coverage Guide:
- How much Auto Insurance Do I Need to buy a car?
- Full Coverage Insurance
- SR-22 and Auto Insurance
- The Bottom Line
- Frequently Asked Questions about How Much Auto Insurance Do I Need
What is Auto Insurance?
Auto insurance, in a way, is a safety net in case of external circumstances that may affect your car such as thefts and car accidents. This is a contract between you and your insurance provider that has a policy outlined stating that they will cover the financial losses of the vehicle, excluding the deductible that was agreed upon.
You May be Asking: How Much Auto Insurance do I Need?
Auto Insurance varies by State, however, all states require a minimum form of car insurance for each individual. Depending on your location, valuables you want to protect, and your car’s value, will all factor into the total cost in the long run.
How Much Auto Insurance do I Need for Car Coverage?
The amount of auto insurance coverages you need for your car will depend on what risks you are willing to take. If you are worried about external issues occurring to your car then it is recommended to have some form of coverage such as Comprehensive and Collision. Many people may not think about these coverages until it is too late and they have to pay out of pocket.
Check out this link for a calculator to help find the best insurance cost and how much coverage you should apply for depending on factors such as: assets you may want protected, your car’s value, and location! http://learnandserve.org/insurance-calculators/
Quick Coverage Guide:
Collision Coverage
If you are involved in an accident whether it be with another vehicle or object, this coverage will pay to repair or replace your vehicle.
Comprehensive Coverage
If an external environmental issue such as a fire, tree, flooding, or even theft occurs to the vehicle, this coverage will protect it.
Uninsured/Underinsured Motorist Coverage
This coverage will protect you and your loved ones if you are ever involved in an accident with someone who is uninsured, underinsured, or even a hit and run.
Other Coverages
Additional coverages that are offered include: Gap insurance, Roadside assistance (towing), and Rental reimbursement.
How much Auto Insurance Do I Need to buy a car?
In order to purchase a vehicle you do not need auto insurance. On the other hand, if you are planning to drive the vehicle off the lot then you will need some type of insurance. Most dealerships will not allow you to drive the car without being insured. All states require a minimum form of auto insurance with a vehicle. Almost every state will require you to have Bodily Injury Liability and Property Damage Liability. There are also some states that will require an induvial to have Uninsured/Underinsured Motorist Coverage, Medical payment, or even Personal Injury Protection.
Full Coverage Insurance
Depending on where you live, these carrier prices may vary. Overall, it should help to determine which carrier may be more in your price range for getting full coverage on your vehicle.
| Carrier | Price |
|---|---|
| National General | $120 |
| Travelers | $145 |
| Nationwide | $152 |
| Progressive Insurance | $153 |
| Farmers | $155 |
| The General | $155 |
| State Farm | $157 |
| Allstate | $164 |
| GAINSCO | $164 |
| American Family | $165 |
| 21st Century | $168 |
| Liberty Mutual | $168 |
| AssuranceAmerica | $169 |
| Mendota Ins. Company | $169 |
| USAA | $169 |
SR-22 and Auto Insurance
Even with auto insurance you may still need an SR-22. The reason as to why people need to have an SR-22 is simply due to it being either Court ordered or State ordered. This may also cause the insurance rate to increase due to the actions you were found responsible for. Some DMV’s may request you have one as well.
The Bottom Line
At the end of the day, you will need some form of auto insurance. Whether it be the minimum requirement within your State, or having additional coverages added on. Each State’s minimum requirement will vary. If you still are unsure or have any questions about your State’s auto insurance, feel free to reach out by call, text, or email to speak to one of our trustworthy available agents!
Frequently Asked Questions about How Much Auto Insurance Do I Need
Q1: How do I determine the right amount of auto insurance coverage for me?
To determine the right amount of auto insurance coverage, you should consider factors such as your vehicle’s value, your driving habits, and your financial situation. It’s a good idea to consult with an insurance expert for personalized guidance.
Q2: What are the minimum auto insurance requirements in my state?
Auto insurance requirements vary by state. You can check your state’s minimum coverage requirements by contacting your local DMV or visiting their website.
Q3: Need personalized advice? Give us a call!
For personalized advice on how much auto insurance you need, please call us at 1.888.445.2793. Our team of experts is ready to assist you in making the right choice for your insurance coverage.
Last Updated on by Crystal Farley