How much car insurance coverage do I really need?

Question

We currently have BI 50/100, 50 prop damage and 50/100 uninsured. Here are the details

Answer 1

The more assets you have, the more insurance protection you should have.  You are protecting your assets from being taken from you in the event of a claim against you

Answer 2

A lot depends on the value of your car.  If your car is over 5 years old I would only have liability.  

Remember your insurance is betting you won't have an accident, you are betting that you will.  Usually the insurance company wins.

Answer 3

It all depends on the minimum required by your state, and your net worth.

How much could you possibly loose if someone sues you for damages? It depends on how wealthy you are, or if you are only existing close to the poverty line.

Answer 4

Legally you only need liability.  50/100/50 is good coverage.  You want unisured motorists coverage, because of goobers who don't carry insurance.  Comp/coll. coverage is good if you have a newer model auto.  Rental, I don't think you can get unless you have the Comp/Coll.  Towing is a great coverage to have and is usually inexpensive.  There are more coverages you can look into.  You agent should be able to explain all coverages t and the benefits to you

Answer 5

Everyone has given you great advice I will only add that after all considerations if you are able to afford the higher limits buy them, you never have enough and you do need to protect future earnings along with any assets you may currently have

Also, a good resource is...

http://www.surveyland.org/jump.php?link=...

Best of luck to you.