Your liability limits should be high enough to protect your personal assets — savings, home equity, investments, and future income — in case you cause a serious accident. State minimums satisfy the law, but they rarely cover the real cost of a major crash.
Auto liability limits are typically shown as three numbers, like 100/300/100. The first number is the maximum per-person payout for bodily injury ($100,000). The second is the maximum total payout for all bodily injuries in one accident ($300,000). The third is the maximum for property damage ($100,000). These numbers represent the most your insurer will pay. Anything above those limits comes out of your pocket.
Florida's minimum property damage liability is just $10,000. A single trip to the emergency room can cost $20,000 to $50,000. Totaling someone's newer vehicle easily exceeds $30,000. If you cause a multi-car accident with injuries, the costs can reach hundreds of thousands of dollars. State minimum coverage is designed to keep you legal, not to keep you financially safe.
Many drivers choose the cheapest policy available, which usually means state minimums. Then they are shocked to learn they are personally liable for tens of thousands of dollars after an at-fault accident. The premium savings of minimal coverage rarely outweigh the financial devastation of an underinsured claim.
We recommend at least 100/300/100 for most drivers, with an umbrella policy for those with significant assets. At Truscott, we evaluate your financial picture and recommend limits that genuinely protect you. Request a Truscott coverage review — the cost of proper liability coverage is far less than the cost of being underinsured.
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