The law in Arizona requires all drivers to carry liability insurance. Since 1974, the minimum limits have required $15,000 per person and $30,000 per accident. In July 2020, those limits raise to $25,000/$50,000.
But how much do you really need to protect yourself and family? This is an important question. You should have as much as possible, but that costs money. There are a few things to consider:
- What are your financial circumstances? What can you afford?
- What level of income do you earn and what assets do you have to protect?
- What are your family circumstances and who do you need to protect?
These are the three main issues to consider in buying insurance. Liability is required by law for both injury and property damage to others. After that, things like medical payments, uninsured coverage, and underinsured coverage must be given full consideration, then, buy what you can reasonably afford.
Questions? Feel free to call one of the Zachar Law Firm attorneys (no fee) or speak with your insurance professional.