Do You Have Enough Auto Insurance?

Pennsylvania drivers are required to have liability insurance. However, the state minimum coverage may not be enough to meet your needs. At Henderson Insurance Agency in Harrisburg, PA, we understand the importance of the right auto insurance coverage. 

Minimum Coverage

Liability coverage is a requirement in most states, including Pennsylvania. The state minimum requirements include $15,000 bodily liability coverage up to $30,000 per accident and a property damage liability limit of $5,000. 

When you look at the typical costs of an accident, a fatal injury averages out to $1.5 million. A disabling injury averages $80,000. However, these events are rare. Pennsylvania had 1,200 traffic fatalities in 2018. Most car crashes result in more minor injuries and property damage. The average cost of a non-disabling accident is $9,300. It’s important to note that average cost covers a wide range of actual costs, so the potential cost of a car crash is much greater than $9,300.

Opting for minimum coverage amounts results in cheaper premiums, but most accidents will go beyond minimum coverage limits. Consider choosing a higher coverage limit or even selecting the maximum coverage limit.

Comprehensive and Collision

If you have a significant investment in your vehicle, comprehensive and comprehensive coverage is also recommended. You’ll want to select a policy that covers the value of your vehicle. If you owe a loan on the vehicle, you should consider gap insurance as well. This is particularly important if you are upside down on your car loan, meaning you owe more than the vehicle is actually worth. In the event of an accident, collision coverage typically pays the current value of the vehicle. If your loan amount is higher than the value, you are required to pay the difference. Gap insurance covers the gap.

Uninsured and Underinsured Motorists

If an accident is the other party’s fault, your insurance company will expect the other party to cover the damage. What happens if they don’t have insurance or enough insurance to cover the damage? Uninsured and Underinsured motorists mean your insurance company will cover your claim if the other party doesn’t have insurance or has inadequate insurance.

At Henderson Insurance Agency in Harrisburg, PA, we know how important the right auto insurance is for your financial security and peace of mind. Our agents are happy to assist you in selecting the coverage options that meet your needs.