If you're like many people, your first priority is to get the bare minimum requirements down. We'll start with that, and work from there. Most states require that you have liability insurance. Rancho Santa Fe California auto car homeowners insurance covers you when you're at fault in an accident. If you live in New Hampshire, South Carolina, Tennessee or Wisconsin, you aren't required by law (yet) to have liability coverage.

So, for California, the minimum requirements are $20,000 of bodily injury liability for one person, $40,000 bodily injury liability for all people and $10,000 property damage liability. Personal Injury Protection (PIP), or Medical Payments (MedPay) in some states, pays for your own medical expenses, any lost wages and whatever other costs may arise when you're injured in an accident.

Rancho Santa Fe California auto car homeowners insurance usually pays about 80 percent of your losses, and it also pays a death benefit. PIP is required in Colorado, Delaware, Florida, Hawaii, Kansas, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, New York, North Dakota, Oregon and Utah. Some states also require you to purchase insurance that will cover your own medical expenses, pain and suffering losses and, in some states, car damage in the event that the other motorist is at fault and is either uninsured or underinsured.

It is generally recommended (by insurance companies - who else?) that you purchase Rancho Santa Fe California auto car homeowners insurance of 100/300 limits of bodily injury liability. On the other hand, if your personal assets don't amount to much (you don't own a home, struggle from paycheck to paycheck, violins are wailing), you don't have a whole lot for them to bother about, so the minimum requirements might actually suit you, not to mention save you some much-needed cash.