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    April 10, 2022
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How much car insurance do I need: Learn about coverage limits, collision and comprehensive, deductibles, and other important terms to help decide on how much is right for you and how you can save. It's a common question: How much car insurance do I need? Unfortunately, there's no black and white answer. It depends a lot on what coverages you need $50,000 increments up to $500,000. f you feel you and the amount of deductible you feel comfortable with. So let's try to break it down: were in the store shopping, or stolen from while you were hiking at a park, do you have the means to replace it without any help from the insurance ompany? If your car is older, it might be time to drop the collision and comprehensive coverage and put that money into savings. You can take the cost of collision. Multiline: Check with your insurance company about and comprehensive coverage and see if the insurance policy cost more or the same as the worth of your vehicle. If so, it might be time to drop the coverage. For example, if your car is worth $1,000 and your coverage costs $500 a year plus a $500 deductible, liability for injuries per accident. If you feel you need additional coverage, you can increase it typically in a crash occurs, you might want to opt for a lower deductible. need coverage beyond that, consider an umbrella policy. If saving money on your insurance is your motivating factor behind removing your collision and raising your deductible, consider these other car insurance money savings tips. How much liability insurance do you need? Liability covers expenses when you're at fault in a crash. The coverages extend to the vehicle and persons impacted by the crash but not the individuals in your car. Most states require you to cary a minimum amount of liability coverage on your vehicle. covers your car if it's stolen or damaged outside of No one can predict exactly how much you'd have to an accident. You might not have not a choice to carry you're not really getting anything for your money. pay if you cause a crash. But the key question to ask this coverage if your car is leased or financed; most is: Can you afford to cover any damages exceeding your coverage limits? The higher your liability coverage limits, the more damages your policy might cover. Do you need comprehensive and/or collision insurance on an old car? combining the purchase of your home insurance or renters insurance with your auto insurance. Insurance Ratings: When purchasing your vehicle, consider how the insurance company will rate them. Some cars cost more to insure than others. Collision coverage covers repairs to your car if you're in an accident. Comprehensive coverage Consider sharing your driving information: Programs like Drive Safe & Save M from State Farm put you in control of your discount. lenders will require you to carry enough coverage to cover the cost of repairs to your car. M you own the vehicle, you could consider whether the savings from dropping collision and or comprehensive coverage is enough to offset the risk of having to pay the entire cost of repairing or replacing your car. For example, if your car is totaled you're willing and able to pay directly, often on short from an accident in which the other driver as at fault notice, to potentially save on your premium. If you How much should my collision and comprehensive deductibles be? This is a balancing act. Higher deductibles typically lower your premium, but will increase your out-of- pocket costs if a loss occurs. Ask yourself how much At any time, if you have questions about what your vehicle coverage should be, contact an agent today. To get an idea of how much liability coverage you might need, add up the value of your home, cars, savings, and investments. Then subtract your debts (what you owe). For example, if the total "net worth" was $220,000, you could consider $250,000 and has no insurance, hit in a parking lot while you want to lower the amount you have to pay when Jennifer Johnsen Nazareth, Agent 1810 Mt. Nebo Rd Sewickley, PA 15143 Bus: 412-741-1600 www.seejennifer.com State Farm State Farm® TM Providing Insurance and Financial Services Home Office, Bloomington, Illinois 61710 Because insurance prstection is a contract any coverage descriptiona in his artice are penerl only and are net statemerts of contract Al coverage are sutject to al polcy provisions, indudng applicatie endorsenents. State Farm incuding State Farm Mutual Automable inturance Company and its sutsidiares and ates is not renponsble for and does not endorse or acprove, ether implicitly or eplioty. he content of any third party sites byperinked tom his page. State Farm has no docretion to alter update, or control the content on the hyperinked, ird party ste. Access to hind party stes ie at the users own risk, is being provided tor intormational prposes only and is not a solotation bay or sel any of the products which may be retermced on such thed paty stes How much car insurance do I need: Learn about coverage limits, collision and comprehensive, deductibles, and other important terms to help decide on how much is right for you and how you can save. It's a common question: How much car insurance do I need? Unfortunately, there's no black and white answer. It depends a lot on what coverages you need $50,000 increments up to $500,000. f you feel you and the amount of deductible you feel comfortable with. So let's try to break it down: were in the store shopping, or stolen from while you were hiking at a park, do you have the means to replace it without any help from the insurance ompany? If your car is older, it might be time to drop the collision and comprehensive coverage and put that money into savings. You can take the cost of collision. Multiline: Check with your insurance company about and comprehensive coverage and see if the insurance policy cost more or the same as the worth of your vehicle. If so, it might be time to drop the coverage. For example, if your car is worth $1,000 and your coverage costs $500 a year plus a $500 deductible, liability for injuries per accident. If you feel you need additional coverage, you can increase it typically in a crash occurs, you might want to opt for a lower deductible. need coverage beyond that, consider an umbrella policy. If saving money on your insurance is your motivating factor behind removing your collision and raising your deductible, consider these other car insurance money savings tips. How much liability insurance do you need? Liability covers expenses when you're at fault in a crash. The coverages extend to the vehicle and persons impacted by the crash but not the individuals in your car. Most states require you to cary a minimum amount of liability coverage on your vehicle. covers your car if it's stolen or damaged outside of No one can predict exactly how much you'd have to an accident. You might not have not a choice to carry you're not really getting anything for your money. pay if you cause a crash. But the key question to ask this coverage if your car is leased or financed; most is: Can you afford to cover any damages exceeding your coverage limits? The higher your liability coverage limits, the more damages your policy might cover. Do you need comprehensive and/or collision insurance on an old car? combining the purchase of your home insurance or renters insurance with your auto insurance. Insurance Ratings: When purchasing your vehicle, consider how the insurance company will rate them. Some cars cost more to insure than others. Collision coverage covers repairs to your car if you're in an accident. Comprehensive coverage Consider sharing your driving information: Programs like Drive Safe & Save M from State Farm put you in control of your discount. lenders will require you to carry enough coverage to cover the cost of repairs to your car. M you own the vehicle, you could consider whether the savings from dropping collision and or comprehensive coverage is enough to offset the risk of having to pay the entire cost of repairing or replacing your car. For example, if your car is totaled you're willing and able to pay directly, often on short from an accident in which the other driver as at fault notice, to potentially save on your premium. If you How much should my collision and comprehensive deductibles be? This is a balancing act. Higher deductibles typically lower your premium, but will increase your out-of- pocket costs if a loss occurs. Ask yourself how much At any time, if you have questions about what your vehicle coverage should be, contact an agent today. To get an idea of how much liability coverage you might need, add up the value of your home, cars, savings, and investments. Then subtract your debts (what you owe). For example, if the total "net worth" was $220,000, you could consider $250,000 and has no insurance, hit in a parking lot while you want to lower the amount you have to pay when Jennifer Johnsen Nazareth, Agent 1810 Mt. Nebo Rd Sewickley, PA 15143 Bus: 412-741-1600 www.seejennifer.com State Farm State Farm® TM Providing Insurance and Financial Services Home Office, Bloomington, Illinois 61710 Because insurance prstection is a contract any coverage descriptiona in his artice are penerl only and are net statemerts of contract Al coverage are sutject to al polcy provisions, indudng applicatie endorsenents. State Farm incuding State Farm Mutual Automable inturance Company and its sutsidiares and ates is not renponsble for and does not endorse or acprove, ether implicitly or eplioty. he content of any third party sites byperinked tom his page. State Farm has no docretion to alter update, or control the content on the hyperinked, ird party ste. Access to hind party stes ie at the users own risk, is being provided tor intormational prposes only and is not a solotation bay or sel any of the products which may be retermced on such thed paty stes