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Must you also have uninsured motorists insurance in
California? In
almost all states, liability insurance is the minimum
required of all vehicle owners. It covers you if you
are responsible for an accident. Liability minimums
per accident include coverage for bodily injury to a
single person, bodily injury for all people involved,
and property damage.
Some counties require coverage for uninsured and underinsured
motorists, or Personal Injury Protection or Medical
Payments, (which covers medical and other expenses from
an accident).
How much do you really need? Orange County California
state law sets the minimum requirements, but depending
on your circumstances you may want to maintain higher
limits.
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If you drive a beater, rent an apartment, and have no
savings, then additional liability isn't necessary.
As you already know, no one can get money from a rock
and you have no assets to attach. Even if you are at
fault in an accident, there is no advantage to spending
additional money for Orange County California auto car
homeowners insurance and you probably need the cash.
On
the other hand, if you have substantial assets, you
stand to lose big time if an accident is your fault
and you're underinsured. The extent of your assets and
responsibilities should drive the cost of liability.
The standard recommendation is to raise bodily liability
to at least 100/300. The more you have, the more you
stand to lose. Lease contracts and finance companies
usually require both comprehensive and collision coverage.
If your car is expensive, then it's even more important.
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On the other hand, if your car is old and the premium
and deductible together will cost you more than the
car is worth, then it's probably not worth it. The cost
of auto car homeowner's insurance coverage can vary
from company to company by hundreds of dollars a year,
so it's worth comparing costs.
How
much insurance is enough? And just as important, when
is it too much? The answer to those questions is as
unique as you are. First, understand your legal requirements.
You should know how much liability insurance state law
in Orange County California requires. (California law
requires you have coverage for at least $15,000 for
individual bodily insurance, $30,000 for group bodily
insurance and $5,000 for property insurance.
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