How Much Car Insurance is Enough?

How much auto insurance do I need to purchase?

You may have just purchased a new vehicle and now you’re searching for the right auto insurance to suit your needs. Auto insurance blends several types of coverage into one policy. Typically, your policy will include some combination of comprehensive, collision, medical, liability, and uninsured motorist coverage. The right auto insurance in Miami, FL for you may be different than your neighbors, sisters, or co-workers.

How much auto insurance is right for you?
Every person is unique – and your policy should reflect that. Auto insurance is not a one-size-fits-all policy, which is why it’s important to understand how much coverage is plenty for you. To calculate coverage, consider:

Liability – This pays for the damage you cause to others if y our car is involved in an accident. It also protects you from being wiped out financially if you are sued after an accident. Keep in mind that the greater your assets, the more you stand to lose. If you have substantial financial resources, you may need liability coverage that exceeds the coverage an auto insurance policy can provide. In this case, obtaining a personal umbrella policy will help to protect your assets.

Collision – Covers damage to your vehicle caused in an accident. The amount of coverage you will need depends on the value of your car. For example, if your vehicle is only worth $1,000, you may not find it reasonable to pay $200 a year for collision coverage. However, if your vehicle is worth $10,000, you should obtain this cover.

Comprehensive – This coverage pays for your vehicle if it is stolen, vandalized or damaged in some way other than in a collision. What you use your car for may make a difference in the amount of coverage you need. For example, if you drive your kids to and from school and activities, you will need more coverage than someone who mostly drives alone.

Talk to your local auto insurance agent to discover the right amount of coverage for your needs. The team at UniVista Insurance are here to help. We serve the areas of Hialeah, Cutler Bay, Miami, and neighboring cities.