"How do I know when it is time to increase my car insurance coverage? "
I have had the same insurance and policy coverage since I was 16. Now that I am turning 30, I wonder if I need to make any changes to my policy. I have state minimums and have never been in an accident.
Answer provided by
Answered on May 12, 2021
“A good rule of thumb is to re-evaluate your policy anytime there have been life changes. This can mean getting a new car, buying a house, getting a new job or promotion, or simply hitting a milestone birthday.
Since a car insurance policy protects your assets as well as your car, now would be an excellent time to make some changes.
It would be best if you increase your liability coverage to above the state minimum. The recommended limits for most people are 100/300/50. If you have maintained a good driving record this whole time, you will be pleased to see how little your premium changes.
If you own a house or have a retirement plan, you should try to have limits at or slightly above your total asset amount.
If you are part of an alumni association or professional clubs, check with your carrier to see if you are eligible for any additional discounts.”
Did this answer help you?
Ask us a question by email and we will respond within a few days.
Have a different question?
You can meet us at our office and discuss the details of your question.
Browse by topics
What others are asking
Where can I find cheaper car insurance as a 20-year-old male in New Mexico?
I live with my parents in New Mexico while I go to college full-time. My parents gave me their Toyota Camry as a gift, but looking at the insurance rates, companies want to charge me nearly $2,000 for six months for liability. Where can I find cheaper rates?
Apr 23, 2021
"Can the dealership help someone with bad credit get a car loan? "
"I have horrible credit, but I need to buy a car. I was recently denied pre-approval from my bank, but the salesman at the dealership swears he can get me financed. Is he being honest or just wasting my time? "
May 05, 2021
Is it time to go down to just liability coverage on my 2012 Nissan Altima?
"I have a 2012 Nissan Altima that is in so-so condition. I have full coverage with a $2,000 deductible, but now the car is paid off. Should I remove full coverage to save some money since I am not driving much right now? Its value is around $5,000."
May 12, 2021