Vehicle Size and Liability Risks
How much liability insurance do you need? The amount depends on many factors. One of those factors may involve the size of your car or vehicle. When you talk to your auto insurance provider, ask questions about accidents. Find out what recommendations they make for vehicles of your size. Many times, having more than the state required minimum makes sense. Here’s what you need to consider about your coverage.
Why Size Matters
Imagine a small passenger vehicle involved in a car accident. The car weighs less. There is less storage in it than a larger vehicle like an SUV. If you are driving one of the largest SUVs, the weight of that vehicle can be significantly higher. Now, imagine the SUV in an accident. The same accident with the heavier, larger SUV is likely going to create a lot more damage than the car. This is why you need more insurance on a larger vehicle.
With liability insurance, the protection covers the other driver. If you hit that driver, causing damage to the vehicle, you are responsible for paying for the losses. If you have adequate liability coverage, it helps pay for these bills up to your limit. If you do not have enough coverage, you are still personally responsible for the losses.
What Coverage Is Right for You?
Speak to your auto insurance agent. Find out what your options are for coverage. If you currently have the state minimum, ask about a higher amount of coverage. How much car insurance you need depends on several things.
- Ask your insurance agent about accidents in your area. Do they happen often? What is the average liability claim in your area?
- Ask about your vehicle. How often is this make and model involved in accidents? What is the average loss in those claims?
Then, work with the agent to update your policy. Most of the time, your car insurance agent can provide you with a recommendation right away. In addition to considering the weight of the car, the agent also considers the value of your car. This helps in determining how much comprehensive and collision insurance you need as well.
The right overall auto insurance policy for you needs to address all of your needs and risks. It should fit your budget at the same time. Your agent can help you know what type of insurance is best for your vehicle.