Most states have minimum auto insurance requirements - that is the minimum level of coverage you must have in place to cover the event that you cause damage to other people or their property. In those states that have low minimum requirements, it’s a good idea to carry additional coverage if you can afford it. That way you won’t leave yourself open to having to pay out of your own funds in a case where damages exceed your liability coverage.

Don’t forget, insuring for the minimum doesn’t cover damage to your vehicle, so if you cannot easily afford to replace your vehicle if it was damaged beyond repair or stolen, taking out collision and comprehensive insurance is a good idea.

As much as being adequately insured should be a priority, being over insured is to be avoided. If you’re over insured you might be paying a higher premium than is necessary. When you carry collision and comprehensive insurance, remember that your vehicle depreciates in value over time. It’s a good idea to review your policy each year and adjust the amount of coverage you carry to reflect your vehicle’s declining value.

If you’d like some help to decide on an appropriate level of coverage in St Petersburg Florida, contact us today to discuss your auto insurance requirements and obtain a competitive quote.