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When deciding how much insurance to buy, think about what assets you're protecting.

When you purchased auto insurance, did you put a lot of thought into the limits you chose, or did you go with the minimum limits available without thinking beyond that? While choosing to purchase the minimum limits allowed in your state is perfectly legal, you should take a few minutes to determine whether those limits are enough. What is your financial situation? Can you afford to buy more than the minimum limits? How much can you afford to pay out of pocket if the need arises?

It's also important to consider your assets when deciding how much coverage is right for you. Your assets may include your house, vehicles, bank accounts, investments — even your wages. All of these can be fair game in a lawsuit if you don't have cash on hand to pay for damages you're liable for.

By definition, auto insurance protects you from accidents, theft and other unforeseen and unplanned circumstances. When you choose insurance, you're choosing protection so you don't have to pay for those damages out of pocket. That's why you should consider your assets to determine how much protection you need.

Why Do Your Assets Matter in Auto Insurance?

Though it doesn't happen often, if your auto insurance limits are exhausted in a covered loss, you personally could be responsible for any remaining bills that aren't paid by your insurance. If you don't have the money on hand to pay these bills, your assets could be at risk.

If your insurance limits are not sufficient to cover damage to property or personal injuries you're liable for, people involved in a claim with you can pursue you personally by filing a lawsuit for payment of their injuries and damages beyond what your insurance limits cover. If you lose the lawsuit, your assets could be at risk.

A lawsuit also can affect you in the long run if you're required to disclose it on a job or credit application, not to mention the possibility of garnished wages until you pay off the judgment.

Higher Insurance Limits Can Lower Financial Fears

To protect yourself from heavy financial burdens, the best thing to do is consider your assets, your budget and your personal needs to determine the right amount of auto insurance for you. If you choose higher-than-minimum limits, you may spend slightly more up front, but this cost can pay off if you ever actually have to use your insurance coverage.

Streamless has insurance representatives who can help you determine the proper level of auto insurance for your needs. You have the option to speak in person with an agent during regular business hours, or you can call us 972 820 7000 or email at

If you decide to complete a quote online, we can recommend various coverage packages for you, each with varying levels of protection. You can choose from those, or you can customize your own package.

Posted 8:00 AM

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