Assessing Adequate Auto Insurance Coverage: Is This Enough?

Hey everyone,

I just got my first car, a brand new 2024 Subaru Legacy Premium and I’m in the process of sorting out auto insurance. Here’s the coverage I’m thinking of going with:

  • Bodily Injury Liability: $250,000 per person / $500,000 per accident
  • Property Damage Liability: $100,000
  • Uninsured/Underinsured Motorist Bodily Injury: $250,000 per person / $500,000 per accident
  • Comprehensive: Actual cash value, $500 deductible (includes zero-deductible glass coverage)
  • Collision: Actual cash value, $500 deductible
  • Uninsured Motorist Property Damage: $25,000, $250 deductible
  • Medical Payments: $10,000
  • Rental Reimbursement: $60 per day
  • Roadside Assistance with trip interruption

What do you guys think about this policy? Is any part of it too much? Anything else you’d suggest adding?

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It really depends on your assets. The goal is to safeguard what you’ve accumulated. For instance, if you own a home with substantial equity, it might be wise to consider adding an umbrella policy. Similarly, if you have significant savings, a pension, or a sizable 401k, that could warrant additional coverage as well.

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I think that coverage is quite solid. However, I would suggest increasing the limits for property damage and liability, as $100,000 for property damage may not provide enough coverage in certain accidents. The premiums for these parts of the coverage usually aren’t significantly higher.