Georgia is an at-fault state for auto insurance purposes and requires all drivers to carry at least minimum levels of bodily injury and property damage liability insurance. While the state establishes basic requirements, it does not suggest how much liability insurance policyholders should carry so we will offer suggestions in this article. If you want to discuss how much liability insurance you should have, contact our Bingham Insurance Group team serving the Braselton, GA, area.
Determining Auto Insurance Liability Levels
Drivers at fault in Georgia may be required to pay the accident victims for their injuries and property damages. The state mandates that drivers carry (25/50/25) minimum levels of liability insurance or:
- Bodily Injury Liability: $25,000 per person and $50,000 per incident
- Property Damage Liability: $25,000 per incident
Although we call them minimum policy limits, they are the maximum amounts insurers will pay on a claim. If the value of a claim exceeds those maximums, the driver is responsible for the remaining amount, potentially putting their savings, home, and other assets at risk.
Some recommend protecting a policyholder’s assets by setting limits based on the driver’s net worth or historical damages awarded in the state. Another common approach is to increase the auto liability limits to, for example, 250/500/100. In addition, adding umbrella coverage extends the liability coverage on auto and home policies and provides additional coverage for other types of lawsuits. Overall, umbrella coverage is a relatively inexpensive way to protect your assets against potentially harmful events.
Working With The Bingham Insurance Group
Our team at Bingham Insurance Group serves the Braselton, GA area, and will happily answer your insurance questions and prepare a policy to meet your needs. Call or stop in to see us today.