Should I always be wary of cheaper insurance quotes?

Heres my thoughts... many cheap companies will pay you out and take care of you. Most online review complaints are from people who chose liability only, got into an accident, and now are regretting it.



As your assets and equity (may) increase, thats when you want to reaccess your coverages to make sure they match your needs.

(I dont recommend this, as a licensed insurance agent, but talking real life here.. and my below numbers are just default recommendations but adjustable based off your needs.)

If youre 18 years old, essentially you can go with the the cheapest company, as you have nothing to be taken away (assets). Quick disclaimer, because of my fiduciary responsibility, dont skimp on insurance as you should all be responsible.

But as you acquire assets, a house (outside of homstead states), high income, you need to raise your bodily injury limits. I recommend 100k per person, 300k per accident for anyone over 25.

If youre a working proffesional making over 100k/ year, then you should have 250k/500k.

If you have equity >1mil, then you absolutely must have an umbrella (PLP) policy. (Can range from 1mil to (x)Mil depending on your richness/celebrity status)

/r/Insurance Thread