{"id":740,"date":"2019-06-22T22:15:39","date_gmt":"2019-06-23T03:15:39","guid":{"rendered":"https:\/\/shieldagency.com\/?p=740"},"modified":"2023-08-30T12:52:25","modified_gmt":"2023-08-30T18:52:25","slug":"how-much-vehicle-coverage-do-you-really-need","status":"publish","type":"post","link":"https:\/\/www.shieldagency.com\/blog\/how-much-vehicle-coverage-do-you-really-need\/","title":{"rendered":"How Much Vehicle Coverage Do You Really Need?"},"content":{"rendered":"\n

Shield Insurance Blog<\/a> | Vehicle Coverage | Auto Insurance<\/a> | Start A Quote Today<\/a><\/p>\n\n\n\n

This is a question that I have been asked often and while I can list all the amazing coverages offered to you, the answer really depends on your personal needs and assets. <\/p>\n\n\n\n

Let’s start with PLPD coverage only. As most people know, PLPD (Personal Liability, Property Damage) is the minimum coverage needed to drive your vehicle on the road legally.  Yet, what a lot of people don\u2019t realize is that PLPD has so many different coverage options on its own. <\/p>\n\n\n\n

The dreaded state minimum requirement for Bodily Injury Liability Limits is $20,000 per person up to $40,000 per accident.<\/p>\n\n\n\n

If someone else were to be injured in an auto accident that was your fault (or worse, a whole family with multiple kids), that is the coverage you have to offer. That doesn\u2019t mean that the injured person can stop suing you for money after $20,000 or $40,000, it just means that you are on your own to pay anything over that. So you could be paying tens to hundreds of thousands out of your own pocket! <\/p>\n\n\n\n

The saddest thing about this incredibly LOW coverage is that better coverage is CHEAP!!! I have seen someone with 1 vehicle & 1 driver have the state minimum and to upgrade to $100,000 per person up to $300,000 per accident was only $25 more for a whole 6-month policy. That\u2019s less than $5 extra a month for more than QUADRUPLE the coverage! <\/p>\n\n\n\n

Vehicle Coverage<\/h2>\n\n\n\n

Then there\u2019s Full Coverage, which means comprehensive (~acts of God coverage) and collision coverage added to PLPD. This is where it all depends on where you are at financially and what your vehicle is worth. <\/p>\n\n\n\n

My husband and I do not have loans on our vehicles. Mine is an old beater van that isn\u2019t worth much.  According to Kelley Blue Book, (www.kbb.com<\/a>) the actual cash value is only $1,500.  Based on this, it wasn\u2019t worth paying the higher premium for full coverage when that is all the money I would get if it was a total loss in an accident.<\/p>\n\n\n\n

Now, my husband’s truck, on the other hand, is worth closer to $6000 actual cash value, and if that truck were to be totaled tomorrow, I would not have a spare $6000 to throw at another vehicle. If I did have enough cash handy to purchase a new\/used vehicle tomorrow, I would take off the full coverage (but I don\u2019t) so that truck will stay on full coverage until I do. <\/p>\n\n\n\n

It was worth my time and effort to figure out what our vehicles were worth, that way I am insured correctly and not paying more premium than I should!<\/p>\n\n\n\n

submitted by Melissa<\/p>\n","protected":false},"excerpt":{"rendered":"

How Much Vehicle Coverage Do You Really Need?<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[341,1,2],"tags":[9,1662,31,1660,77,71,1663,1661,62],"class_list":["post-740","post","type-post","status-publish","format-standard","hentry","category-auto-insurance","category-insurance","category-shield-blog","tag-auto-insurance","tag-bodily-injury-liability-limits","tag-commercial-insurance","tag-how-much-coverage","tag-insurance","tag-michigan","tag-personal-liability-property-damage","tag-plpd","tag-shield-insurance-agency"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.shieldagency.com\/blog\/wp-json\/wp\/v2\/posts\/740","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.shieldagency.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.shieldagency.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.shieldagency.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.shieldagency.com\/blog\/wp-json\/wp\/v2\/comments?post=740"}],"version-history":[{"count":3,"href":"https:\/\/www.shieldagency.com\/blog\/wp-json\/wp\/v2\/posts\/740\/revisions"}],"predecessor-version":[{"id":13712,"href":"https:\/\/www.shieldagency.com\/blog\/wp-json\/wp\/v2\/posts\/740\/revisions\/13712"}],"wp:attachment":[{"href":"https:\/\/www.shieldagency.com\/blog\/wp-json\/wp\/v2\/media?parent=740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.shieldagency.com\/blog\/wp-json\/wp\/v2\/categories?post=740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.shieldagency.com\/blog\/wp-json\/wp\/v2\/tags?post=740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}