The majority of states require drivers to purchase financial protection for their cars, but even if they don’t require it, they will still set minimum coverage standards that policies in the state must provide. In a new FAQ, the writers at OnlineAutoInsurance.com discuss these state-set auto insurance standards.
When it comes to liability coverage, a little over half of the states require at least $50,000 in bodily injury liability per accident and at least $10,000 or $25,000 in property damage liability per accident. But few states have identical minimums.
When you
compare Florida car insurance minimums to those of a state like Michigan, for instance, you can see that the gap between states can vary widely.
If a Florida motorist has a clean driving record, the smallest amount that he or she can have to satisfy state law is at least up to $10,000 in personal injury protection (PIP) and at least up to $10,000 in property damage liability.
Michigan, on the other hand, requires motorists to have PIP that will cover all necessary medical costs resulting from an accident, property protection insurance that will pay for up to $1 million in property damage caused by the insured vehicle, as well as $50,000 in liability coverage per accident.
When deciding how much to get, OnlineAutoInsurance.com recommends that drivers take into how many personal asset they need to protect. Generally, most authorities recommend getting at least $300,000 of bodily injury liability coverage per accident.
To access the full FAQ, visitors can follow the “Questions” link located at the top of any page on the site.
