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Should I purchase the minimum of full coverage insurance?


A big issue is driving with the minimum insurance, 10,000 in PIP and 10,000 in Property Damage Liability. Unfortunately some unscrupulous insurance brokers call that “Full Coverage” and don’t explain to their insurers that there is other types of coverages they can purchase because they are trying to sell a cheap policy and they are trying to sell as many as they can. Typically what happens is an accident will take place and someone involved will say “I have full coverage” unfortunately the insurance broker they were dealing with sold them a cheap policy claiming they have “full coverage” which…

A big issue is driving with the minimum insurance, 10,000 in PIP and 10,000 in Property Damage Liability. Unfortunately some unscrupulous insurance brokers call that “Full Coverage” and don’t explain to their insurers that there is other types of coverages they can purchase because they are trying to sell a cheap policy and they are trying to sell as many as they can. Typically what happens is an accident will take place and someone involved will say “I have full coverage” unfortunately the insurance broker they were dealing with sold them a cheap policy claiming they have “full coverage” which means you legally have enough coverage to drive but not enough to protect you. Besides your mandatory PIP and your mandatory bodily injury liability coverage you can and should purchase some additional things to protect you such as Med Pay coverage (which will supplement your PIP), uninsured motorist coverage (which can help you if the driver at fault doesn’t have any insurance), Bodily injury liability (in case you hurt someone in an accident). Those are some helpful coverages to have but the real problem is more often than not, drivers just have the minimum insurance needed legally. Currently some insurance companies and trial attorneys are promoting legislation that would introduce a mandatory bodily injury liability insurance system into the state where drivers would carry a minimum of $25,000 or $50,000 of bodily injury liability in case they cause an accident or hurt someone.