People as a whole do not look at their car insurance the right way. Let me give a couple of ways that maybe you should also consider.
If you are one of the people who can barely make your car payment and your insurance payment, you especially need to pay attention here.
You need to increase your state minimums of collisions and liability. Why you ask?
Let’s say that you were in an accident and you are being held liable for your actions. If you have the state minimums of $100,000 and $ 300,000. You will not even pay the attorney’s with these amounts. The insurance companies will only pay out the state minimums. Anything else will have to come out of your pocket not the insurance companies. Guess what these attorney’s go after next? Yep, everything that you will own or make for the next 20 years.
If you don’t have anything you figure that an attorney will not get anything from you. WRONG! Attorney’s have figured out a couple of years ago to make sure that you will still have to pay their financial judgement even 20 years from now.
Please people increase your state minimums to at least $ 500,000 or more. It doesn’t cost that much more on your premiums for this expanded coverage. If you don’t I will be the first person to say I told you so. It may also save you from going thru bankruptcy.