How to Figure Out How Much Car Insurance I Need

Video Transcript

"You're thinking about buying car insurance and you're not quite sure how much you need. My name is James and I'm an insurance agent and I think that I'll be able to help you with that question. The first thing that you need to know is the more premium means the more coverage. So that if you are trying to save money, you want to have the least amount of coverage as possible and for the state, the least amount of coverage is what's called PIP and PD and that's Personal Injury Protection and Property Damage and also its at the limits of 10, 20 whereas you can go up to a million combined single limit. But let's just get back to figuring out how you can save money on your car insurance. If you have a car that you just want to get the tags for and you want to go to the Motor Vehicle and get that tag, then I would strongly suggest getting the basic coverages PIP and PD. But if you've got a car of value and you might even have a lien on it, then you're probably going to want to have comp and collision, bodily injury and all of the others including uninsured motorists. The premium on that is going to be substantially more than just getting your basic coverages. So you take the amount of money that you can afford on a month or possibly annual and just try to figure out the different types of coverages that you're looking for and an agent can help you because they've got a rate calculator that will tell you specifically how much each limit costs. For instance, bodily injury could cost you a few hundred dollars or you know you can take it without the bodily injury and just go with the PIP and PD. So again, I would strongly suggest if you're looking for car insurance and you're looking to figure out how to calculate it, speak with an agent and they should be able to guide you the best possible way to save money. My name is James, I'm an insurance agent and again, I hope that this was helpful and good driving."