Does a 100/300/100 liability insurance policy offer too much coverage?

I'm thinking of upping my liability limits, but I don't know if a 100/300/100 policy is too much. I currently have a net worth of $50,000 and I make $55,000 per year.

Answer
“A general rule is to take your net worth and add it to three times your annual salary.
In your case, this would be $215,000. That should be your bottom-line minimum for car insurance coverage.
Therefore, you should consider getting something like 250/500/250 liability coverage.
But always remember that hospital visits aren’t cheap. You may even want to consider getting limits up into the million-dollar range if you can afford it.
To pay an affordable rate for more coverage, don’t forget to compare car insurance quotes online.”
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Eric Schad
Answered on May 04, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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