How well do you know your auto insurance policy? The concept of insurance protection is really dependent on 2 factors.
- How much do you need/should you have?
- How much can you afford?
In Arizona, the minimum limits are $15,000/$30,000/$10,000. That means, if you cause a crash, your insurance company will pay no more than $15,000 for injuries to any one person, no more than $30,000 total to all persons injured and no more than $10,000 total for all property damage caused.
What are your financial circumstances? Do you need more financial protection than this? If so, you should buy more, but how much?
Most people are concerned with liability insurance first (protection for harm to others if you cause an accident). How much should you have? Consider the possibilities and make the best decisions for your family. Keep in mind also, you can substantially increase your liability insurance limits at a more modest cost with an umbrella policy.
Then, think of your own family. It is estimated that as many as 20% of cars on the road don't have insurance. Talk to your agent about protecting your family with Uninsured, Underinsured and/or Medical Payments coverage.
How much? Again, everyone's circumstances are different. The purpose of insurance is financial protection. Everyone needs to decide their own personal needs.