What's adequate for car insurance coverage?

bodily injury-property damage-uninsured motorist-underinsured motorist. I have 3 S-boxes and I don't need any collision,comprehensive-etc. I don't want to pay any more than I have to but I don't want to get sued in an accident and owe money. How do i figure out what I need?

How long is a piece of rope??

I'm reminded of the guys that climb walls or repell DOWN them to be more exact. The guy takes the rope and tosses it over the cliff, hooks on his equipment and down the cliff wall he goes.

So...he gets to the end of his rope, and looks down and he STILL has about a hundred feet to go....too far to drop and now he has to climb back up to the top of the cliff and start over.....

Now...let's get specific.......

If you have 3 s-boxes, I presume that you use them in business. What type of business are you in? Do you have them painted up with the name of your business on the side? YES? So, NOW you become a TARGET (not the store, but, the bullseye for people to shoot at wanting to file a claim.)

I once had a limo driver that only wanted to carry the bare minimum limits that the law required....I told him that if he ever hit ME.....he'd be driving me around in the back for the rest of my life FOR FREE...and he didn;t like that idea.

So...back to your case....you need to figure out what your assets are and how much you want your insurance carrier to pay before the injured party comes to you thru his attorney with their hands out for MORE money...looking for the deep pockets...Are you incorporated? If not, you should be to build a corporate shell around your personal assets.

I would suggest that you carry NO LESS THAN $300,000 Combined Single Limit liability. Basically, this provides you with a "bucket of money" that will pay up to $300K PER ACCIDENT - whether it be bodily injury, property damage or a combination of both. Once you get to this limit of liability, $500K is not that much more. You might even consider an umbrella - now, you're talking MILLIONS of coverage, starting off at $1M and going UP from ther, normally $3M, $5M, $10M.

You can normally buy the same limits of Uninsured/Underinsured Motorist coverages as your primary limits of liability...and DON'T accept anything LESS than matching limits!

The best thing to do would be to contact a LOCAL independent insurance agent. Just look in the phone book for the PIA or Big I (Trusted Choice) logos and you will find a professional agent there that will be able to help you.

Good luck and I hope this helps!

liability is the bare minimum.