How Much Coverage Do I Really Need?

The NEABCS Guide to Protecting Your Vehicle, Your Assets, and Your Future

If you’re asking this question, you’re already ahead of most drivers.

At New England Automotive Brokers & Consulting Services (NEABCS), we don’t believe in “minimum coverage” thinking. We believe in strategic protection planning — coverage that protects your income, your vehicle investment, and your long-term financial stability.

Let’s break it down the right way.

🚘 Step 1: Start With the Legal Minimum (But Don’t Stop There)

In Connecticut, drivers are required to carry:

• Bodily Injury Liability: $25,000 per person / $50,000 per accident

• Property Damage Liability: $25,000 per accident

• Uninsured/Underinsured Motorist Coverage: $25,000 / $50,000

That’s the legal minimum.

But here’s the truth:

👉 One serious accident can easily exceed those limits.
👉 Medical bills alone can surpass $100,000 in a matter of hours.
👉 If damages exceed your policy limits, you are personally responsible.

Minimum coverage protects your registration.
It does NOT protect your wealth.

💰 Step 2: Protect Your Assets, Not Just Your License

The right amount of coverage depends on:

• Your income

• Your home ownership status

• Your savings & investments

• The type of vehicle you drive

• How often and how far you drive

• Whether you use your vehicle for business

Our General Rule at NEABCS:

If you have assets to protect, you should strongly consider:

• $100,000 / $300,000 Bodily Injury

• $100,000 Property Damage

• Higher Uninsured/Underinsured limits

• Optional Umbrella Coverage

Why?

Because liability coverage protects:

• Your paycheck

• Your home equity

• Your savings

• Your future earnings

This is where real financial protection starts.

🛡️ Step 3: Collision & Comprehensive — Do You Need It?

If your vehicle is:

• Financed or leased → Required

• Worth more than $5,000–$7,500 → Usually recommended

• A high-value or luxury vehicle → Strongly recommended

Collision covers damage from an accident.
Comprehensive covers theft, vandalism, fire, weather, falling objects, and more.

In New England, weather alone makes comprehensive coverage a smart move.

🚙 Step 4: Consider Gap Coverage (Especially on Newer Vehicles)

If you financed your vehicle with a small down payment, you may owe more than the car is worth.

If it’s totaled, standard insurance only pays market value.

Gap coverage pays the difference.

For buyers who used NEABCS financing guidance, we help evaluate whether:

• Dealer gap makes sense

• Carrier gap is cheaper

• Or if you should avoid it altogether

📈 Step 5: Think Beyond Auto — Bundle Strategically

Your auto coverage doesn’t exist in a vacuum.

Bundling can:

• Reduce overall premiums

• Increase liability limits affordably

• Simplify protection

Through our insurance network powered by First Connect Insurance Services, NEABCS compares multiple A-rated carriers to structure:

• Auto

• Home

• Renters

• Landlord

• Commercial Auto

• General Liability

• Umbrella Policies

One coordinated strategy. Not random policies.

💡 Real-World Coverage Scenarios

Scenario 1: First-Time Buyer With Limited Assets

• May start slightly above state minimum

• Strong Uninsured Motorist protection

• Consider raising limits as income grows

Scenario 2: Homeowner With $100k+ Equity

• $100k/$300k minimum recommended

• Consider $250k/$500k if affordable

• Umbrella policy strongly considered

Scenario 3: Business Owner or Commercial Driver

• Personal auto may not be enough

• Commercial auto required in many cases

• General liability often necessary

🚨 The Biggest Mistake Drivers Make

Choosing coverage based on:

• “What’s the cheapest?”

• “What’s the minimum?”

• “What does my friend have?”

Insurance is not a commodity.
It’s a financial risk management tool.

Cheap coverage can become the most expensive decision you ever make.

🎯 So… How Much Coverage Do You Really Need?

The honest answer:

Enough to protect everything you’ve worked for.

For most responsible adults, that means:

• Higher liability limits than the state minimum

• Full coverage if the vehicle has real value

• Protection against uninsured drivers

• Strategic bundling for cost efficiency

The exact number? That requires a personalized risk review.

🔍 How NEABCS Helps You Decide

Unlike online quote machines, NEABCS:

• Reviews your financial exposure

• Evaluates vehicle value

• Analyzes deductibles strategically

• Compares multiple carriers

• Looks for bundle opportunities

• Identifies gaps most agents miss

We don’t just sell policies.
We build protection plans.

📞 Ready for a Coverage Review?

If you’re unsure whether your current policy truly protects you, let’s review it.

You can:

• Request a quote comparison

• Upload your current declarations page

• Schedule a coverage consultation

Don’t guess. Protect properly.