If I have little net worth, what type of car insurance should I buy?

I currently have a net worth of only a few thousand dollars, and I don't have much in savings. What type of insurance should I buy?

Answer provided by
Eric Schad
Answered on Apr 23, 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.
“While it might be tempting to purchase the state-minimum insurance, don’t do it. It may not cover all of the other driver’s expenses, leaving you to foot the bill.
But you can find cheap car insurance that provides an adequate amount of coverage if you shop around. Aim for liability coverage limits of at least 50/100/50, and preferably 100/300/100. This will better protect you from any out-of-pocket expenses if you’re in an at-fault accident.”

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