Talk of The Villages Florida - View Single Post - Car insurance rates just had their biggest annual jump in 47 years.
Thread: Car insurance rates just had their biggest annual jump in 47 years.
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Old 09-15-2023, 02:49 PM
kkingston57 kkingston57 is offline
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Quote:
Originally Posted by Rainger99 View Post
What type of coverage do you have? I was shopping for coverage earlier this year and I could get really cheap insurance if I bought the minimum liability coverage which is 10/20. I paid for the higher coverage.
If you only had a 10/20 policy AND have any assets(besides your home) you are playing with fire. If you rear ended someone and they had minimal injuries the claim against you would be worth more than 10K. Agents do make more money selling higher limit policies but could get in trouble for selling you a 10/20 policy. That was the minimum coverage 40 years ago.