PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Loans
Car Loan
Compare Car Loans with Jerry
Jerry's Expert Advice
Car Loan Guides
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
Should I choose car insurance coverage based on my income and assets?
I currently have about $50,000 in liquid assets, but I read that you should have more coverage than that to protect your assets. What car insurance coverage should I get?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“Generally, you should probably get
liability insurance
that’s far more than the value of your assets.While you might think a 25/50/25 policy will do the trick, if it doesn’t cover the damages for the other person (medical and property), they can sue you for the difference. That means they can come after all of your assets.
As a result, a liability policy of 50/100/50 or 100/300/100 is advised. You can also add an umbrella policy that will expand to cover claims in excess of your regular auto policy. That’s the best plan you can have so you don’t lose all of your hard-earned money.”
View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
Read Advice From Car Experts At Jerry
What Others Are Asking
Browse More Content
Insurance for Your Car
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies
