Auto Insurance: How Much Coverage Do You Need?

36 comments

It’s an age-old question: How much is enough? When it comes to auto insurance, knowing how much coverage is good enough involves answering questions about your assests, the car you drive, how far you drive, and with whom you drive.

What is the overall value (or your total assets) you need to protect?

You can answer this question fairly easily. If you were involved in an accident, and you were at fault, could you afford to cover the legal costs associated with a lawsuit, as well as the terms of the lawsuit if the court rules against you? Most people can’t afford to—and shouldn’t—leave themselves exposed to the risks of being sued. Auto liability insurance should sufficiently protect you, including assets like your home.

What kind of car do you drive?

If you’re paying down debt on a new, quality vehicle, make sure it’s covered with comprehensive and collision insurance, which is required in Ohio if you finance or lease a car. It’s generally safe to hold less coverage on an older vehicle that you own, and that wouldn’t cost a lot to replace.

How often and how far do you drive?

The more you drive, and the farther you go, the more risk you have of getting into an accident. However, people who don’t drive frequently also run the risk of being hit by an underinsured motorist—or worse, an uninsured driver. Even if you just run your car around town, it’s best to get coverage that equals the worth of the vehicle.

Who commonly drives with you?

If you routinely taxi children or teens around to afterschool activities or participate in a carpool, it’s best to increase liability coverage to take into account those extra passengers.

The bottom line

In Ohio drivers are required to purchase a minimum amount of insurance to cover liability. In fact, you can’t register your car without proof of insurance. However, minimum liability coverage won’t go very far if you are liable for an accident and you don’t have insurance—or enough insurance.

You may owe for expenses for which you’ll have to pay out of pocket for your own car—which may also include health care costs—as well as for damages incurred to the other party’s vehicle or property, and perhaps health care costs, too.

Upcoming changes to auto insurance

The State of Ohio is changing minimum coverage requirements effective December 22, 2013. New minimums require that automobile insurance covers an increase for two components:

  • Bodily injury, or $25,000 per person and a maximum of $50,000 for everyone involved with the accident.
  • Property damage, or $25,000 for property damaged in the accident.

If you’re interested in talking to a local, independent insurance agent who will look out for your best interest, and make sure your auto coverage meets the new state guidelines, contact the Spreng-Smith Agency today! We’re happy to offer auto insurance quotes or talk to you about other insurance needs. We proudly the greater Ashland area.


Post a Comment

Comments

  • This is a really good read for me, Must admit that you are one of the best bloggers I ever saw.Thanks for posting this informative article.
    Compare Car insurance at
  • Thanks for helping on how to calculate the coverage i need. It sure was helpful.
    John Scott at
  • Wide diversification is only required when investors do not understand what they are doing.
    intraday stock tips at
  • It's a very really good & information.
    Monthtomonthcarsinsurance at
  • Thank you for sharing information, its nice article


    PIPING COMPANIES IN UAE

    PIPING COMPANIES IN UAE at
  • Thank you for sharing information, its nice article


    Accounting Courses in Dubai
    Accounting Courses in Dubai at
  • Insurance counselor helps and provide Insurance guide about general insurance, car insurance, health insurance, kids and child insurance. Insurance Information, guide, help simply insurance made easy.
    rohimic at
  • Thank you for sharing information, its nice article

    Digital Marketing Course in Dubai
    Digital Marketing Course in Dubai at
  • Fabulous blog you have written, it has enhanced my skills and will be helpful in the future. In this post you provided us the best knowledge auto insurance how much coverage do you need. Thanks for sharing this type of information.
    Dolbak Finance at
  • Thank you for sharing information, its nice article

    Digital Marketing Courses
    Digital Marketing Courses at
  • It's very informative, thanks for sharing the information its really helpful.
    fmcsa process agent at
  • Really appreciate your work, very nice and informative post about insurance, keep up the good work.
    Business insurance Marietta at
  • chauhan pratik
    hi their very good artical
    chauhan pratik at
  • One of my friends asked me about this kind of insurance. She says "if over a fight between husband and wife, and the wife accidentally broke the back mirror of the car, will still that be covered by the car insurance?". I have an idea for that but I still want to know from other's idea.
    chicos at
  • Thank you for sharing information, its nice article


    STAINLESS STEEL PIPE SUPPLIERS IN UAE

    STAINLESS STEEL PIPE SUPPLIERS IN UAE at
  • Nice Article. Thanks for sharing the information.
    Dave Simon at
  • Very helpful post about auto insurance. Thanks for sharing.
    Marshall Brown at
  • Thank you for sharing information, its nice article

    SEO Company Dubai
    SEO Company Dubai at
  • This was a good post. I've had some of these questions myself.
    Rick Jonie at
  • Thank you for sharing information, its nice article


    iso consultancy
    iso consultancy at
  • https://www.onlineautoloan.ca
    1)) auto financing
    2)) auto loan
    3)) Vancouver auto dealer
    4)) Canada auto dealer

    5))
    Canada's easiest way to be approved for a vehicle

    Online Auto Loan is a family oriented dealership. We are dedicated in providing our customers and friends with the best quality , used cars, trucks suvs minivans, commercial vehicles as well as recreational vehicles. Available near our home base of abbotsford and the Lower Mainland. We will deliver pretty much anywhere in canada at no charge. Our main focus is being able to provide customers with top quality customer service, we are probably the most honest and professional online auto service in Canada today. Give us a chance to beat any competitor on the market in Canada.
    We will not let any competition beat our prices.
    We do not do online inventory
    Our vehicles are private and only viewable after being approved for an appropriate loan.

    We do things backwards from every other dealership in canada and keep identity private and confidential.

    Please contact us for more details.

    We look very forward to doing business with you.
    jahirupa at
  • https://www.onlineautoloan.ca
    1)) auto financing
    2)) auto loan
    3)) Vancouver auto dealer
    4)) Canada auto dealer

    5))
    Canada's easiest way to be approved for a vehicle


    jahirupa at
  • They content is about on insurance but comments are irrelevant. You can also read my blog on latest technologies and comment so that i can evaluate my writing skills. Cloud Computing Service USA
    seo service usa at
  • You are right seo service usa ,, i found this here as well the same procedure in being implemented here.. You can also read my blog on hospitality services bed bath & beyond
    bed bath at
  • We are not going to read your blog SEO SERVICE USA. We know your purpose, it's only gaining traffic just like what you did here. You were just using your keyword as your name, it's obviously SPAM. If you want to relevant comment, then go to forum discussions. You don't know what your doing as an SEO dude!
    chicos at
  • Chicos! You have authority to remove this comment seo services usa.
    Julie Bella at
  • Elegant Training is a leading training academy offering vat Training in Dubai. We offer a variety of taxation course with certificate. Adobe Graphic Designing Course in Dubai full course Dip IFRS Training in Dubai
    IFRS Training in Dubai at
  • Thanks for sharing this useful information about the coverage we need during auto insurance. This helped a lot. Thanks and good luck.
    Angelina Brain at
  • thank you for inovative article, very nice article, don't forget to visit my own website, http://saktibet.net/
    saktibet.com at
  • We are the best SEO company in Dubai, we are fast growing in importance in today's online marketing. It is advisable to use a good SEO company for the growth of marketing.
    SEO Company Dubai at
  • great post
    Erick Jackson at
  • great post. really useful
    Erick Jackson at
  • Thanks for helping me learn more about auto insurance. It's good to know that you should try to get coverage that equals about the worth of a vehicle. I'm interested to learn if this means your coverage would be more if you are getting a new car.
    Taylor Bishop at
  • I purchased a car recently. I live in Pembroke Canada. Even though there are so many insurance companies here, finding a company that I can trust was difficult. After doing a lot of research, both online and offline, I decided to go to an insurance company based on my friend's suggestion. Fortunately, they were good at what they do. They offered me a policy based on the type of car I own and my budget. But, If I had got the chance to read your article earlier, I think It would be easier for me to choose a policy.
  • Digital Marketing Institute Dubai, as it has met the expectations of the student. Digital marketing course offers SEO courses, SMM Courses, Online marketing courses, etc at Digital Marketing Course in Dubai.
    digital marketing course at
  • Can you suggest me insurance corporation that offer cheap car insurance?. I found one of insurance corp, who told me to pay twice in a month. It is a suspicious. That's is normal or not? Thank you. netpolis.nl
    sinta wiranata at

Post A Comment

« Back to Blog

Spreng-Smith Insurance Agency
320 College Avenue
Ashland, Ohio 44805

Phone: 419-289-3310 
Fax: 419-281-1687

Copyright © 2019 Spreng-Smith Agency. All rights reserved. Privacy Policy