Deciding whether to increase your bodily injury coverage depends on several factors. Firstly, consider the risks you face on the road. If you frequently drive in high-traffic areas or live in a region with a high rate of accidents, increasing your coverage might be wise. Secondly, examine your financial situation. Higher coverage limits can protect your assets in case you’re responsible for an accident with significant injuries. Without sufficient coverage, you might have to pay out-of-pocket for damages exceeding your policy limits, which can be financially devastating. Thirdly, evaluate the policy cost. While increasing coverage will raise your premiums, the added protection might outweigh the additional cost in the long run. It’s also helpful to review state requirements for insurance minimums and consider consulting with an insurance agent who can provide personalized advice based on your situation.
Is it necessary to increase my bodily injury coverage?
