state minimum car insurance Start a free online quote Now(No B/S Calls Or Spam email)
are the car insurance requirements for each state, by law for their residents, The current minimum limits of liability required by the state of Arizona is $15,000/$ 30,000/$ 10,000. The new limits that will take effect on July 1st, 2020 will be $25,000/$ 50,000/$ 15,000. For the average person, these numbers most likely make no sense. And you’re probably thinking this is just another way for the big, bad insurance companies to take your hard-earned money and charge you more on your insurance premiums. Let us explain what this coverage is, and why this is a good thing.
There are 3 basic types of coverage that may be included in State Minimum Car Insurance Requirements
1. Bodily Injury Liability
• Coverage as defined per person and per accident
The maximum amount your insurance company would payout for each individual who is injured in an accident you caused
2. Property Damage Liability
• Property Damage Liability is defined per accident.
• Property Damage does not cover damage to your own car, it is meant to cover damage that you become responsible for
the maximum amount that would be paid out per accident, regardless of how many individuals are involved
3. Personal Injury Protection
• Coverage as defined per person and per accident.
• May Include limits for Medical Expenses, Disability or loss of income, in-home services, Rehabilitation, and funeral burial or cremation costs, as defined in your specific policy wording which varies by state for the minimum requirements. This coverage is what helps pay for any property damage you cause to another party’s property. In this case
Why does your insurance agent tell you that the minimum is not enough? It all depends on how much personal risk you are willing to take. Insurance is meant to protect your current and future assets. If you do not have enough car insurance to cover damages caused to people or property when you have an accident, then you might get sued for the additional costs. Even if you do not have the cash in the bank, or have assets that can pay for the damages, your future earnings could also be affected. Why take the risk?
Collision and comprehensive coverage, are always optional no matter what state you live in, but they are still important protection nonetheless
If you’re confused, there’s good news: You really only have to worry about the requirements where you live, so you can jump to your home state and make sure your coverage fits the mandatory minimums
Comprehensive coverage covers damage that happens to your car when you’re not driving, like from falling objects, or weather damage, like hail. Comprehensive coverage also pays to replace your car if it’s stolen. And Collisions coverage covers damage from collisions no matter who was at fault.