Insurance Policy LimitsThe Minimum Required Auto Liability Insurance is 15,000 / 30,000 / 10,000
These numbers represent the Maximum payout by your insurance company.
The 15,000 is for one person Bodily Injury
The 30,000 is for two or more Bodily injury max payout.
The last 10,000 is for for property damage such as running into a city pole or someones fence.
I am asked what most responsible people choose as coverages.
My answer is this; If you lease a car the minimum required by most leasing companies is 100,000/300,000/100,000.
Consider if you happen to be at fault and some should get seriously injured or killed how much you can be sued for. Those limits above wont scratch the surface. Most good companies offer 500,000 limits and one would be smart to get a Umbrella Policy to cover more.
People ask me how much coverage do I have and that is simple. I have 500,000 with an additional Umbrella policy that covers me to 2,000,000.
There are many who want umbrella policies however the insurance companies usually only allow people with no losses no tickets, and accidents. Those people who can not get an Umbrella Policy usually opt for the 500,000 coverage.
The term, "Full Coverage" does not mean you are fully covered.
Instead it may mean you have all the coverages you can get for your policy, here again up to the limits and also for items that may be covered.
Each Policy is different and everyone should review their policy when they get it.
Collision coverage provides coverage for your vehicle when it is involved in a collision minus your deductible if any up to policy limits or the value of your car. Check your policy for details
Comprehensive provides coverage for fire, theft, attempted theft, vandalism, weather, or impacts with animals are types of comprehensive losses minus your deductible if any up to policy limits or the value of your car. Check your policy for details.
Uninsured / Under insured motorist coverage UM/UIM, provides coverage if an at-fault party either does not have insurance, or does not have enough insurance. Usually the limits match the liability limits.
Rental Coverage, provides a set limit per day for partial reimbursement for rental expenses associated with having an insured vehicle repaired due to a covered loss.
Personal Property in a vehicle that are damaged due to an accident or stolen typically are not covered under the auto insurance policy. Sometimes people can make a claim on their homeowners or renters policy, you may want to consider your deductible before filing a claim.
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Havasu Insurance2160 McCulloch Blvd N. Suite 101
Lake Havasu City, AZ 86403
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