Estimated read time: 4-5 minutes

Ask any insurance agent how much car insurance you need beyond the required minimums and you’ll probably get a lot of “it depends” answers. And it’s true. The amount of car insurance you need depends on several factors, including where you live, how much your car is worth and what assets you wish to protect.

As a general rule, it’s a good idea to purchase additional insurance beyond the minimums Utah requires. Having extra coverage will give you peace of mind knowing that should the worst occur, you and your assets are protected.

Here’s a look at the different types of coverage and how much insurance you really need.

Liability insurance

Liability insurance is one of the auto coverages required by the state. Julia Kagan of Investopedia explains that liability car insurance covers the cost for others’ injuries and property damage when you are at fault in an accident. Some examples include if you crash into your neighbor’s fence, or if you rear-end someone on your commute home. It also covers your legal costs should you get sued.

Should an accident occur that involves a person, property, or vehicle and you are at fault, the required insurance minimums are very unlikely to cover the costs involved. So, how much liability insurance do you need? In short, as much as you can buy. Many carriers offer a top-tier, $250,000 per person for bodily injury liability, $500,000 per accident for bodily injury liability and $250,000 for property damage plan that seems worth the small increase in your monthly premium.

You can also look into extra liability insurance like an umbrella insurance policy that will provide even more coverage should your auto policy payment limits get maxed out.

Uninsured and underinsured motorist insurance

As if getting in an accident wasn’t harrowing enough, imagine if the other party, who is at fault, didn’t have insurance or enough to cover the cost of damage to you. That’s where uninsured and underinsured motorist insurance comes in. These coverages pay for your medical expenses for you and your passengers, lost wages due to inability to work, funeral expenses, pain and suffering and car damage if the person who crashed into you does not have liability insurance or not enough.

How much uninsured and underinsured motorist insurance do you really need? Jason Metz writing for Forbes.com said, “You’ll typically need to purchase UM in amounts that match your liability insurance. For example, if you have 250/500/100, you’ll need to buy the same amount of UM coverage.”

Personal injury protection

Personal injury protection (PIP) insurance is another Utah-required coverage. “Personal injury protection covers medical bills for you and your passengers no matter who caused the car accident,” Metz wrote. “It also pays for other expenses like lost wages, funeral expenses and replacement services you can’t do because of injuries, like cleaning services or child care.”

The Advocates explain that Utah law requires a minimum of $3,000 of personal injury protection insurance, but that you’ll probably want to purchase more than that.

Collision and comprehensive insurance

Having collision and comprehensive insurance (often sold together) will increase your premiums, but in most instances, it’s well worth the cost. Collision coverage will cover the cost if your vehicle is in a collision, whether it involves property, another vehicle, or just your vehicle. Comprehensive coverage will cover all other damages to your car, whether it be caused by vandalism, theft, hitting a deer, fires, floods or other damaging means. If you finance or lease your car, you’re required to carry these coverages.

Julia Kagan of Investopedia explained that, unlike some other auto insurance, there are no tiers of coverage with comprehensive and collision insurance. These coverages are technically optional — unless required by your lender or leasing company — but given how expensive modern cars are to fix, you’ll want to carry a collision and comprehensive policies to alleviate the burden on your wallet should a costly repair be needed.

Injured in an accident? Call The Advocates!

If you’ve been injured in an accident, you shouldn’t have to carry the medical and financial burdens alone. You need an Advocate — an attorney who can help you navigate those steep hospital bills, vehicle damages and insurance runarounds.

The Advocates understand what you are going through and are ready to help you recover. Their attorneys know best how to win you maximum compensation for your injuries and losses.

Don’t wait. Call (385) 350-8460 today for a free consultation or visit The Advocates website and chat with an attorney in real-time.