What coverage do I need on a new Kia Telluride that I financed?

I didn't know that when you finance a car, the lender requires full coverage. This bumps my monthly rate to $200. I have 25/50/25 liability plus collision and comprehensive, both with a $1,000 deductible. Is this acceptable coverage?

Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“Your collision and comprehensive coverage are about right, provided you have enough money to pay the $1,000 deductible. If you don’t, start socking away money in an account specifically for your deductible, should you need to pay it.
As far as your
liability insurance
goes, it appears that it’s at or just barely above the state minimum. That just won’t cut it. The high costs of fixing vehicles and medical bills makes a 25/50/25 liability policy an afterthought—a visit to the hospital for a week can cost $100,000.
For just a few dollars more a month, which isn’t much in the grand scheme of things, you can up your limits to 100/300/100 or 250/500/250. This will keep you financially stable if you should get into an at-fault accident.
In the future, make sure to budget for insurance before you buy a new car.”
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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.

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