"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.
“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.
Read advice from car experts at Jerry
Browse by topics
What others are asking
What can I use as proof of address for my new insurance policy?
What can I use as proof of address for car insurance? There have been a lot of big changes that have happened in my life recently. New car, new job, and new apartment! I have been shopping around for car insurance, but many of the carriers are asking for proof of address before my policy can be issued.
Jul 03, 2021
When a home insurance company asks if there was a recent claim, who does this question apply to?
I'm buying my first house and shopping for home insurance online. When an insurance company asks if there was a claim in the last five years, are they asking if I made a claim or if anyone living in the house made a claim?
Mar 01, 2021
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