Learn about coverages, deductibles, limits and more to help decide how much auto insurance you need and how you can save.
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When you are getting a vehicle, it’s common to consider what the recommended auto insurance coverages are. After all, required coverage varies from state to state and sometimes there are state minimums which are typically very low. Unfortunately, there's no black and white answer. It depends a lot on what coverages you need and the amount of deductible you feel comfortable with. The State Farm® Personal Price Plan™ helps you create an affordable price (just for you).1
Liability insurance covers expenses when you’re at fault in a crash. The coverages extend to the other vehicle(s) and people who sustain damages in the crash, as a result of your negligence. Most states require you to carry a minimum amount of liability coverage on your vehicle.
No one can predict exactly how much you'd have to pay if you cause a crash. But the key question to ask is: Can you afford to cover any damages exceeding your coverage limits? The higher your liability coverage limits, the more damages your policy might cover.
To get an idea of how much liability coverage you might need, add up the value of your home, cars, savings and investments. Then subtract your debts (what you owe). For example, if the total "net worth" was $220,000, you could consider $250,000 liability for injuries per accident. If you feel you need additional coverage, you can increase it typically in $50,000 increments up to $500,000. If you feel you need coverage beyond that, consider an umbrella policy.
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GST taxpayers can't claim any pending input tax credit if this return is not filed by November 30, 2024 for FY 2023-24
