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.

“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.”
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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