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Auto Insurance Arizona- How much do I need?

Posted on: November 23rd, 2009 by admin
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Auto Insurance Arizona

In order to meet auto insurance Arizona legal requirements you need to purchase minimum liability coverage in the amount of 15/30/10.  What this means is that if you are in an auto accident the most this coverage will pay out per accident is:

  • $15,000 for medical expenses per person injured in the accident
  • A maximum of $30,000  for medical expenses of all those you injure in any one accident; and
  • $10,000 toward fixing the damage you cause to someone else’s vehicle or to their personal property (fence, sings, etc.)

When purchasing auto insurance Arizona you have to look closely at your own personal situation.  Insurance needs vary from situation to situation and from person to person. Your needs will not necessarily be the same as a friend or family member. 

Liability protection provided by an auto insurance policy is one of the most important parts of a policy to consider.  If you decide to purchase the minimum liability limits you may find that you are significantly underinsured.  Minimum liability limits may not be enough to repay someone that you injure or to repair or replace property that you damage. 

We live in an extremely litigious society.  If you are involved in an auto accident there is a good chance that you will be sued.  Any good lawyer is going to take the opportunity to recover as much money as possible for their client.  The lawyer is first going to review the auto insurance Arizona coverage’s that you have.  They are then going to assess your net worth (real estate, investments, checking/savings account balances, earning power, etc) to determine a plan of attack.  If your personal net worth is larger than the liability coverage’s provided by your auto insurance policy they will first recover from your insurance company and then they will go after you personally. 

Find time in your busy schedule to pull out your current auto insurance policy and review it.  If you have any questions contact a local agent or contact the State of Arizona’s Department of Insurance.

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