Do I really need higher liability coverage when I am trying to save money on my policy?

I am currently with State Farm, but I feel like I am paying too much money for insurance. I have a quote from The General and it is so much lower! My State Farm policy has limits of 100/300/50 and The General has 25/50/25, but does that matter?

Answer
“The short answer is yes, it matters, and it matters a lot!
It is important to save money on your insurance policy; however, it is just as important for the policy to protect you properly.
The limits that State Farm is giving you will help you in most situations.100/300/50 means if you are found at fault for an accident, they will pay up to $100,000 per person and up to $300,000 per accident for bodily injury liability and up to $50,000 for property damage liability.
The General is only providing bodily injury liability coverage of $25,000 per person and up to $50,000 per accident, and then up to $25,000 for property damage.
The average cost of hospitalization from a car accident is $57,000, and the average cost of cars on the road is around $33,000 in America. The difference the insurance company doesn’t pay comes out of your pocket!
It is good to shop around for cheap car insurance; just make sure you keep the limits that will properly protect you and your family.”
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Shannon Martin
Answered on May 06, 2021
Shannon is an expert in personal lines liability insurance with 13 + years of insurance industry experience. She also served as a special insurance liaison to AARP members for 6 of those years. She is a graduate of UL Lafayette and currently resides in NY with her family. Shannon is also an amateur juggler, ukulele player, and is a time travel paradox theory enthusiast.
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