Basic auto insurance is broken down into three figures. For the California state minimum those numbers are 15/30/5. That means policyholders have bodily injury coverage for $10,000 with one claim, $20,000 worth of coverage for multiple claims with the same accident, and $5,000 for any property damage caused by the at-fault driver.
Sure, you met the legal mandate for auto insurance, but think about this: According to a 2013 report by Rocky Mountain Insurance Information Institute (www.rmiia.org). the average auto liability claim for bodily injury was $15,443. That means you would be on the hook for about $500 if there was only one injury. Two injuries with minimum coverage will take $1,000 out of your pocket. Remember this is an average. In our whiplash society filled with personal injury lawyers happy to exploit what they hope is a lawsuit lotto.
Increasing your limits is not as expensive as you may think. Increasing your coverage to 100/300/50 probably won’t put your premium into orbit but will increase your protection several fold. Doubtlessly the slight increase will be offset by even a small BI claim.
The best way to insure you have the correct coverage is to speak with your insurance professional. He/she has a wealth of resources available to bring you the best protection for you at a price you can afford.