How Much Auto Insurance Do I Really Need?
The question regarding proper limits of auto insurance is the most often asked among Tennessee insureds. What’s required? What’s too much? Do I have full coverage? We believe the answer lies in the question, “What’s the potential dollar limit of a legal judgement brought against you if deemed liable for causing an accident?”
Per current state of Tennessee law, the following can be levied and/or seized by the courts to pay restitution for a liability judgment:
- Your primary residence, if its value exceeds $5000
- Your personal auto, if its value exceeds $4000
- Your personal property, if its cumulative value exceeds $4000
- Your cash, checking, savings, money market and CD accounts along with stock, mutual and bond fund accounts
Don’t have much in the above, here’s the one most folks overlook:
- Up to 25% of your future wages and disposable income until the judgement is fully repaid (Ouch!)
If you were to accidentally pull out in front of a motorcycle rider or run through an intersection trying to beat a red light, how much might you have to pay for:
- Emergency response services (Fire, EMT,
Ambulance) - Hospital medical costs (ER, Surgical, In-patient)
- Rehab and recovery (Physical, Occupational, Speech Therapy)
- Lost wages and income for all injured
- Disability (limited or permanent)
- Legal and court costs
- Pain & Suffering by the injured
- Fatalities
NO Insurance Agent can possibly predict what you’ll need on any fateful day. Ultimately, it’s a very personal decision how much risk each insured is willing to assume or desires to transfer over to their insurance carrier. But an agent that’s truly concerned for you having enough strength in your policy to protect your assets above, while making right what has gone wrong, will stress minimum Liability and Uninsured Motorist limits of 500/500 along with a $1,000,000 Umbrella coverage for starters. Even if you don’t have much in assets to protect, wouldn’t you want to be sure anyone harmed in the accident you caused, was sufficiently compensated by your insurance without having to pay the damages out of your own pocket? We believe you would and should.
Call or Request a Quote and let us help you “Be Prepared, Not Surprised. Get more than you’re already paying for!”
Luis Roque is a local Independent Agent who strives to help you to “Be Protected, Not Surprised. Get More Than You’re Already Paying For.”Roque Agency Insurance is located at… 150 Uptown Square, Suite C
Murfreesboro, TN 37129.
Roque Agency Insurance 
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