How Much Auto Insurance Coverage You Should Get

Auto insurance can protect you financially in case of accidents. Because it offers various coverage with different amounts, you should know how much you should get before getting an auto insurance quote in Lexington. Your provider can give you a piece of advice when it comes to this.

An auto insurance quote in Lexington should conform to the minimum price mandated by the laws of the state. Some states may require certain coverage to protect you in case of accidents.

Bodily Injury Liability

For bodily injury, the average required coverage amount may range from $10,000 to $300,000 per person and $20,000 to $500,000 per accident, depending on your state. If you live in Kentucky, the minimum required amount is $25,000 per person and $50,000 per accident.

You can get a higher amount as long as you carry enough to protect your assets. Some experts recommend having at least $300,000 for bodily injury liability. However, this may not be enough. Remember that the greater the value of your assets, the more you could lose. That’s why it’s best to get the highest amount you can pay for.

Property Damage Liability

The property damage liability in Kentucky has a $10,000 minimum requirement. However, it’s likely that it will not be enough to protect you financially if you get involved in an accident. Take note that many cars cost more than $50,000, which is too much compared to the minimum amount you should get for this coverage.

If you can get more than $10,000 of coverage on property damage liability, go for it. The most common amount of coverage ranges from $20,000 to $25,000. However, it is recommended that you get at least $50,000, so you don’t face financial risks if you get in a collision with a high-end car.

Personal Injury Liability (PIP)

PIP helps cover the medical expenses of everyone in your car in case you get into an accident, no matter who is at fault. In some cases, PIP covers loss of income, as well. In Kentucky, the minimum amount you should have is $10,000.

PIP is required in states who have no-fault insurance laws, such as New York and Florida. If you and your family members also have health insurance, you may not need to buy more than the minimum amount. But if any of you doesn’t have any health insurance, try to get an amount that can be adequate for everyone in case of a serious accident.

We Can Help You Out

If you want to get car insurance from a trusted provider, contact us at Nicholson insurance today. We are a reliable team from Kentucky, offering different types of auto insurance coverage. Contact us today to get an auto insurance quote in Lexington.