Why basic auto insurance may not be the right choice for you

You may feel that getting the very least amount of auto insurance you can legally get away with is a good idea. It might be for you, but there is no guarantee that you won’t be sorry if you have an accident. At Wayne Realty & Insurance Co Inc. in Goldsboro, NC, we ask the right questions to determine the right auto insurance for each of our customers. 

In North Carolina, basic auto insurance is liability only. What you must carry is 30/60/25. That means you must have $30,000 in bodily injury coverage for one person hurt in an accident and $60,000 for all injuries related to that accident. You also must have $25,000 in coverage for damage you may do to a property. 

This is enough liability coverage if you don’t have a lot of personal wealth. If you have assets, you may want to consider a higher liability level to protect yourself. Another consideration is whether or not you have a car loan or are leasing your vehicle. You will be required to have collision and comprehensive coverage to protect the car, which is not yours. 

Once you pay off your car loan, you’re not required to have full coverage, but is that a good choice for you? Maybe not. If, like most Americans, you need a vehicle to drive to work, go shopping, and do the activities that are part of our daily lives. If you are responsible for an accident or your vehicle is the victim of a hit and run, would you have the ready funds to make repairs? If the answer is no, you may want to have full coverage. 

Contact Wayne Realty & Insurance Co Inc. in Goldsboro, NC to discuss your auto insurance needs.