Earlier this week, I received my updated policy information from Liberty Mutual, the company that provides the insurance for my Honda Civic. I was expecting a significant increase thanks to a minor car accident last October. Here are some details about my coverage, which I haven’t changed since purchasing this car.
* Liability, bodily injury: $50,000 each person, $100,000 each accident
* Liability, property damage: $50,000 each accident
* Uninsured motorists, bodily injury: $50,000 each person, $100,000 each accident
* Uninsured motorists, property damage: $50,000 each accident
* Personal injury protection (PIP), medical expense limit: $250,000
* Personal injury protection (PIP), medical expense deductible: $250
* Collision deductible: $500
* Other damage deductible: $500
* Transportation expenses: $30 each day or $900 per accident
The total annual premium for this coverage is $1,552. This is about $100 more than last year’s premium, less than I expected the increase to be. It’s still a lot of money, but as a New Jersey resident that is to be expected. The last time I shopped around, “discount” insurers like Geico quoted higher premiums for the same coverage.
I thought about shopping around again, but I don’t think it a slight discount would be worth the effort at this point. All my extra time right now is being spent on finding the right place to live.