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. It's a good idea to occassionally review our coverages, assets, net worth and risk exposures can change with time.

A policy that might have seemed adequate when purchased years ago, may not offer suficient protection for todays financial exposures.

Answer

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 auto liability limits that are far and above what I am required by law to carry.

Even with these higher limits, I still worry about any excess. I am considering a Personal Umbrella Policywith limits up to $2,000,000

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