I hope this BLOG finds you well. A significant part of my job is ensuring you have the information you need to make the decisions that are right for you and your auto coverage. That said, I wanted to explain coverage limits and the factors you should consider when determining your needs.

Remember, coverage limits refer to the maximum amount your insurance policy will pay for a covered claim. These limits vary depending on the type of coverage and the specific policy. When deciding your limits, there are several factors to consider:

1. Your vehicle’s value. It’s important to know the current market value of your vehicle. This will help you determine the appropriate coverage for collision and comprehensive coverage.
2. Your risk of liability claims. Auto liability coverage protects you if you’re found to be at fault in an accident and are responsible for damages to other parties. It is important to ensure that your liability coverage limit is high enough to protect your assets in the event of a large claim. On your policy documents, liability limits are shown as three separate numbers indicating bodily injury per person, bodily injury per accident, and property damage per accident. 
3. Your budget. While it is important to have adequate coverage, it’s also important to ensure that your insurance premium is affordable.

We hope this information is helpful in understanding coverage limits. If you have any questions or want to discuss adjusting or shopping your policy, please don't hesitate to Call, Click or Come By.

Rising Star Insurance Group – Protecting What Matters Most to YOU for over 40 Years.