What Car Insurance Coverage Should I Have?
It depends upon your financial situation. In order to properly protect your assets, you should have liability coverage greater than the Wisconsin statutory minimum of $25,000.00. You may want to purchase medical payments coverage if you either have no health insurance or limited health insurance. You should maximize the amount of uninsured motorist coverage (UM) and underinsured motorist coverage (UIM) available.
You should consider purchasing an umbrella policy of insurance which is surprisingly inexpensive.
Wisconsin does not require drivers to have automobile insurance.
Uninsured motorist coverage protects you and your family if you happen to be injured by a driver that has no insurance. Wisconsin does not require drivers to have automobile insurance. If you are insured, your policy must provide minimum UM coverage of $25,000.00. You should increase your UM limits as high as possible. It is the least expensive coverage you can buy. It provides financial protection for you and your loved ones in case of a severe injury caused by an uninsured driver.
Underinsured motorist coverage protects you and your family for injuries that may exceed the amount of the at fault drivers insurance. You should increase the UIM limits as high as possible also. It is also inexpensive to purchase this coverage.
UIM will protect you or your family in the event of severe injury. The benefit of this insurance protection far exceeds its cost.