How much liability insurance do you need on your car?

You are required by law to carry at least the state minimum; a figure that varies state by state.

However, how much you "NEED TO" carry depends on your own personal financial situation.

If you have financial assets that could conceivably be considered in a costly lawsuit, then you need to carry increased limits of coverage. I carry limits that are far and above what I am required by law to carry, and I still worry about any excess. I am considering a personal umbrella policy.

Assets to consider, ALL of which could be at risk: Home, savings, investment accounts, personal belongings, FUTURE EARNINGS (!!!!)..... some scary stuff....

First answer by Chochollyk. Last edit by Chochollyk. Contributor trust: 143 [recommend contributor]. Question popularity: 1 [recommend question]