The answer, schedule an appointment with a trusted Insurance agent. There are many variables that go into liability coverage and each client’s situation is unique. In North Carolina, our state minimum is 30/60/25 and these numbers reflect what the insurance company will pay up to for example:

  • 30,000 in injuries for one person
  • 60,000 in injuries per accident (more than one person injured)
  • 25,000 for property damage per accident

The most common high limits are 250/500/250. Many think they do not need higher limits. But ask yourself, if I hit a Mercedes and the driver is a CEO of a company who sustains 700,000 in medical expenses, lost wages and pain and suffering do you want your insurance to a company to pay all of it or do you want to be liable for the majority of the cost?

Clients who choose higher limits often add an Umbrella policy. Typical Umbrella is 1,000,000. And it works by adding 1,000,000 to each of these numbers, 250/500/250.so now you have 1.25mil/1.5mil/1.25mil.

In the grand scheme of things Liability insurance is very cheap and designed to protect your assets should there be a lawsuit?